Introduction

Growth, a word which indicates the idea of upliftment, with reference to an individual it could be determined as monetarily success, better health, good education etc., But when we talk about nation’s growth then it is not just about an individual’s concern, it is a matter of each and every person living in the country. We are living in the era where the economic growth of the nation is as much important as important food for an individual, but the question which arises is that at what cost?

The rapid growth of nations in the world might seems very promising and desirable to the people living in a particular nation but the hidden drawback which we also should be concerned of is the effects which we are creating behind the curtains of development or growth.

Industries plays a major role in development of a nation it has a major share in generating employment in the country and adds significantly in the economy of a nation, but what it also contributes is the pollution and environment degradation. Environment degradation and climate change is a very pertinent issue we are facing all over the world. The Indian Ministry of Environment, Forest, and Climate Change published a landmark announcement on October 12, 2023, proposing the Green Credit Rules, 2023, in an ambitious attempt to solve the world’s most severe environmental problems. This programme represents a significant change in environmental governance since it uses a market-based approach to encourage and reward environmentally responsible behaviours.