Environment degradation eating up 5.7% of GDP: WB Report

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Environmental degradation and diseases are responsible for a mindboggling 23 percent of child mortality across the nation, which is costing it a whopping 5.7 per cent of its GDP each year, says a World Bank report. The report suggests that the country can make green growth a reality by putting in place strategies to reduce environmental degradation at the minimal cost of 0.02 percent to 0.04 percent of average annual GDP growth rate. "A significant portion of diseases caused by poor water supply, sanitation and hygiene is borne by children under 5. About 23 percent of child mortality in the country could be attributed to environmental degradation," says the report titled ‘Diagnostic assessment of select environmental challenges in India’.

 

The study was conducted by World Bank from its own resources at the behest of the environment ministry and covers the period from 2010. The report also states that the annual cost of environemental degradation in India amounts to about Rs 3.75 trillion which is equivalent to 5.7 per cent of GDP. Muthukumaran S Mani, lead author of the report, said this figure is reasonable in comparison to other developing countries. Mani said a developing country like India cannot afford to grow now and clean up later as this will not be environmentally sustainable in the long run. "You have to clean up as you grow," he said.

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