Property Rights for Managing Natural Resources in INDIA: Lessons From International Experiences

In India, population growth, economic development and industrialization have resulted in overuse/misuse of natural resources. Of late, environmentalist and policy makers have realized the fact and suggested the community to manage the resources sustainably. But, the degradation of resources continues still because of the unchanged human behaviour. On the other, Government has failed to control the depletion of natural resources due to illdefined common property rights. However, the Government has not taken any measures to strengthen the existing property rights institutions, whereas developed nations around the world have realized the inadequacies in managing the natural resources and has shifted the responsibility towards the community, i.e. through Collective Action. The present paper reviews the experiences of the developed countries. This discussion would ensure some ideas to rephrase our standards in managing natural resources, which may tie-up our society towards Sustainable Development.