The report, released here today, suggests that India can make green growth a reality by putting in place strategies to reduce environmental degradation at the minimal cost of 0.02 per cent to 0.04 per cent of average annual GDP growth rate.
"A significant portion of diseases caused by poor water supply, sanitation and hygiene is borne by children under 5. About 23 per cent of child mortality in the country could be attributed to environmental degradation," said the report titled "Diagnostic Assessment of Select Environmental Challenges in India".
The report also states that the annual cost of environemental degradation in India amounts to about Rs 3.75 Trillion (USD 80 billion) which is equivalent to 5.7 per cent of the country's GDP.
Muthukumara S Mani, lead author of the report, said this figure is reasonable in comparison to other developing countries.
Mani said a developing country like India cannot afford to grow now and clean up later as this will not be environmentally sustainable in the long run. "You have to clean up as you grow," he said.