The problem of plastic pollution, being a negative externality to the Indian economy, must be addressed comprehensively. Discuss (200 Words)
Refer - The Hindu
Enrich the answer from other sources, if the question demands.
IAS Parliament 2 years
KEY POINTS
· A report released by the United Nations Environment Programme (UNEP) last year estimated that emissions of plastic waste into the aquatic ecosystems may triple by 2040.
· Plastic products in the form of bags, bottles, etc. are convenient, but take a very long time to decompose. Increasing global consumption and low participation in recycling programmes have led to more plastic waste.
· Plastics represent an example of a consumption externality, which involves many people, rather than a production externality, which involves one or multiple firms.
· But it also causes inconvenience for consumers, increases substitution cost, and creates unemployment shocks as it affects the production of plastics, leading to less economic activity.
· A tax rate, in particular, needs to be carefully determined and should work as a deterrent. In general, the rate of tax on plastics should be higher than the cost of compliance.
· Thus, comprehensive policy measures against plastics may generally involve three complementary activities: the removal of existing taxes and subsidies that have a negative environmental impact, taking into account the different types or grades of plastics, and restructuring existing taxes in an environmentally friendly manner.
Manish 2 years
Please review !
IAS Parliament 2 years
Good answer. Keep Writing.
