Acceptance of green accounting in Indian economy

Green accounting also known as environmental accounting is a new branch of accounting which is concerned with accounting for nature. Environmental costs and benefits of a concern are recorded both in monetary and non monetary terms. There are various Acts, rules and provisions which help to ascertain environmental cost and benefit, to identify that part of Gross Domestic Product (GDP) which helps to make environment related decisions and policy making. In India, green accounting is in developing stage. The union ministry of environment and forest proposed to make it mandatory to get an environmental clearance for all new projects. It is also proposed to make green accounting practices as a part of organisational Corporate Social Responsibility.