TITLE OF THE ARTICLE: ENVIRONMENTAL LAW AND ECONOMICS Name of the Author: Aastha Mehta
Professional Affiliation: Student of GNLU (12A003)
Address for Correspondence: B-72 Akash Towers Judges Bungalows Bodakedev Ahmedabad Contact Number-9714077446
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1. R.N Subudhi, “Energy, Environment and Economy”, Kanishka Publications, Distributors New Delhi pg. 82. 2. Derek Russel Armitage, “Adaptive Co-management: Collaboration, learning and multilevel Governance”, UBC Press, pg. 4
ABSTRACT This paper seeks to look at an interrelation between economics and environmental law, by trying to bring forth what are the judicial reforms that have come up in environmental problems and what is the impact seen by the economy as a whole. The aim is to show how in recent years there has been awareness in policy makers and judiciary to take up such a technical area of environmental law, science and its consequences in terms of the damages and issues that occur. Backed by ample case laws and immense number of examples it will bring a picture of what are the loopholes that need immediate attention of the people to help government in uplifting the level of environmental needs. The dire need of efficient environmental law is the need of the hour which should be addressed through economic tools such Cost benefit analysis and other measurable yardsticks such CEPI etc. Through real life examples it can be seen that effective implementation of economic utility of environmental law has not yet been achieved, which should be one specific area that needs improvement. The paper will show that economics can be very helpful in knowing that whether any regulation has made the possible outcomes successful or not. Keywords: Environmental law, economics, judicial intervention, effective implementation
Table of Contents:
A. Case Law review of Impact which ENVIRONMENTAL DEGRADATION creates for economy and its consequences on society. B. Policy precautions that can be taken in long run and short run to curtail environmental degradation. C. Judicial Innovations taken up in India, and its effect on societal aspect of economy D. Case study of some of the critically polluted areas such as Ankhleshwar in India and the social cost-benefit analysis that society bears E. Conclusion.
A. Case Law review of Impact which ENVIRONMENTAL DEGRADATION creates for economy and its consequences on society. 1. The concept of social costs attached to any mammoth project in rural areas has been time and again been discussed extensively in judiciary showing us how, economic concepts such as cost benefit analysis, tradable permits tax incentives and budget controls can be given legal effect in actual application in society. But one very pertinent...
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