International Journal on Science and Technology

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Shifting of Perception from ‘Gross Domestic Product’ to ‘Green Gross Domestic Product’ in context of Green Accounting Practices

Author(s) Dr. Shashikant M. Tajane, Dr. Mahesh P. Bhaskar
Country India
Abstract The intrinsic limits of GDP as a measure of economic performance and social advancement serve as the driving force for the creation of a green GDP. GDP evaluates just gross output; it does not determine the assets and wealth that support output. Significant or irreversible depletion or replenishment of these assets is not taken into account by GDP. At the end of the day, GDP cannot determine whether a nation's income level is sustainable. Although he had done little research on environmental issues, Richard Stone, one of the founders of the original GDP index, proposed that "studies of economic, socio-demographic, and environmental phenomena are the three pillars on which an analysis of society ought to rest." The path to a sustainable future is paved with green accounting. Through green accounting, a steady income level is attained without destroying the nation's natural resources. Green accounting is the process of calculating the nation's income while taking into account the economic damages related to the depletion of natural resources. The adoption of renewable energy, sustainable agricultural practices, restoration costs; ecosystem services, biodiversity conservation, resource depletion, environmental degradation, etc. are all taken into account from the respondents' point of view
Keywords Gross Domestic Product, Green Gross Domestic Product, Green Accounting Practices
Field Engineering
Published In Volume 16, Issue 4, October-December 2025
Published On 2025-12-06
DOI https://doi.org/10.71097/IJSAT.v16.i4.10729
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