Monthly Archives: June 2015

World Environment Day 2015 – Today, the 5th of June – Significance for India?

Well, June 5 may be taken as just another date in calendar. However, it may also be used to reflect on the current status of Environment and climatic conditions. For developing countries like India, this reflection is more relevant. On one hand, India with its burgeoning population, struggles to manage  current resource utilization and waste management ; on the other, it wants (& needs) to develop rapidly, unfortunately placing further demand on a fragile environment base. So what does India do? Ignore environment and go full-on on development? CAN INDIA REALLY DO THAT???

Seeing at the current climatic imbalance, I think answer should be NO.

Let me explain: In the previous posts, it was discussed that how un-seasonal rains in March caused a major loss to Indian Economy; and now it is the forecast of ‘deficient rainfall’ during the monsoon months of June to August.

Not that it is the first time monsoon is forecasted to be abnormal; but this is second year in a row and it can impact India majorly – How? A few ways listed…

  1. Fifty percent of its population is dependent on Agriculture (Economic Times, 2014); lower monsoon rains mean lower agricultural productivity and production; causing a direct impact on the income and purchasing power of this segment of population
  2. Farmers are already under great stress due to recent unseasonal rains and existing lacunae in Indian agricultural sector; and for smaller, indebted farmers, lower monsoon rains spell DISASTER and DOOM – a social tragedy for India
  3. Industries like fertilizers; agri-banking; food-processing; textiles etc. would face a direct hit due to lower agricultural input and output – another way how Indian economy will be adversely impacted.
  4. Inflation can face a major spike through two ways – lesser power generation as hydro-electric power generation will go down; diesel demand to go up; and increase in price of food and other supplies due to decreased supply.

While growth will be adversely impacted, inflation can see a surge for all segments of population – an almost ‘WORST-CASE SCENARIO’ for India. Stock markets have already started displaying this sentiment. (Economic Times, 2015)

So India needs to be concerned about climate change; and hence needs to put Environment concerns on equal footing as Development.

To me, this is the “Only Way Going Forward…!”

Happy World Environment Day Everyone!

References:

Economic Times (2014) http://articles.economictimes.indiatimes.com/2014-02-27/news/47739698_1_population-china-and-india-mechanisation

Economic Times (2015) http://economictimes.indiatimes.com/markets/stocks/news/monsoon-may-slow-down-fmcgs-run-in-stock-market/articleshow/47547272.cms

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