Account for the current environmental crisis.

Environment performs four function, namely, supplies resources, assimilates wastes, sustains life by providing genetic and bio-diversity and provides aesthetic services. But, the rising population of the developing countries, the affluent consumption and production standards of the developed countries and industrial revolution have brought the situation of environmental crisis i.e. it all had put a great pressure on the first two functions of the environment.

Many resources have become extinct and the wastes generated are beyond the absorptive capacity of the environment. The environmental crisis has worsened by the drying up of rivers and other aquifeers making water an economic good. Besides, the intensive and extensive extraction of both renewable and non-renewable resources has exhausted some of these vital resources and thus, we are compelled to spend huge resources on technology and research to explore new resources. Along with this one more important cost is related namely, is the health costs of the degraded environmental quality–decline in the air and water quality (70% of water in India is polluted have resulted in increased incidence of respiratory and water borne diseases). Hence, the expenditure on health is rising. The situation become more worsen with the current issues of global warming and ozone depletion. They also put great strain on government’s finite financial resources.