Green accounting in india-need of the hour

Recently, the entire world is approaching towards rapid industrialization which has threatened the world to maintain ecological balance seriously. Unplanned industrialization and discharge of effluents by industries create environmental pollution. As environmental resources are invaluable natural resources of a county like India, there is an urgent need to maintain accounts of such resources. Economic development without environmental considerations brings about environmental crises and damages the quality of everyday life. The transition of corporate sectors from the traditional business of profit-making to their responsibilities as corporate citizens makes them now more conscious by contemplating social duties perfectly. Moreover, international acceptance and awareness of the importance of environmental issues has motivated the development of a distinctive branch of accounting called, “Green accounting’’. Implementing Green accounting can bring about a change among corporate sectors to pick-up new challenges and threats..
This paper seeks to provide discussion on the importance of Green accounting on the economy and society of India as a whole and also shows despite numerous anomalies, Green accounting is increasingly becoming an important aspect within the corporate sectors.