DEPLETION OF NATURAL RESOURCES AND ITS IMPACT ON INDIAN ECONOMIC DEVELOPMENT

Abstract

Resources depletion refers to the situation where the consumption of natural resources is faster than it can be replenished. The natural resources of a nation can be divided as renewable resources and non renewable resources. The natural resources contribute at large to the economic development of a nation. Current patterns of energy and natural resource use, agricultural practices and urbanization appear to be largely unsustainable and require urgent remediation. The consumption pattern of natural resources did not seem to be justifiable which can have economic downfalls for the nation. Population explosion is acting as a catalyst for resources depletion. Consumption pattern is not addressed will lead to irreversible climate and decreased productivity. In order to achieve economic growth developing countries are abusing their lands on the grounds of economic interests. Whether is in the form of air and water pollution, deforestation and soil erosion or the extraction of natural resources itself, the fact is that developing countries are currently accounting for remarkable depletion of natural resources. It seems evident that much of the economic growth activities enforced by governments, accounts for significant resources depletion. In this context, the present paper makes an attempt to study the theoretical concept of natural resources in India, to understand the importance of natural resources and to give suggestions to manage available resources productively.