Economic Growth and Fragile Environment: A Dilemma

Abstract

There is a quite apparent trade-off between economic growth and environmental protection, especially in developing nations like India. However, one cannot come at the cost of the other, yet a little balance with some compromise is required to balance the both for the betterment of society. Lately, the buzz around environmental protection has been increasing around the world, as evidenced by the increasing temperature and change in the climate, leading to myriad treaties, conventions, and agreements among the nations. However industrialization is not the only contributor affecting the environment, yet it accounts for a
larger chunk of ill-effects caused to the environment. To mitigate the ill effects of industrialization and other factors on the environment, a slew of laws have been passed. This paper will discuss the conflict between economic growth and environmental preservation through laws and how the legal framework protects the environment. The authors will go through the relevant case laws that have given balanced legal frameworks on these two aspects and the challenges in their implementation. This paper further delves deep into the significant benefits and the development of more diversified environmental laws in its preservation, safeguarding, and the development of more sustainable business practices. The authors would wrap up by offering potential recommendations for achieving a balance between economic development and environmental conservation.