Question

 

Explain in detail about Cost Benefit Analysis?

04 Sep 2025
Answer :
Word Count : 1101
Cost Benefit Analysis is a systematic process that is widely used in Environmental Impact Assessment to evaluate the overall desirability of a project or policy by comparing its expected costs and benefits. Within the context of environmental health, this tool plays a crucial role in determining whether a developmental project or intervention should proceed by quantifying the trade-offs between environmental degradation and social or economic gains. The underlying principle is that a project should only be approved if the total benefits to society outweigh the total costs, with a specific emphasis on safeguarding environmental quality and public health. The first step in Cost Benefit Analysis is the identification of all potential costs and benefits associated with a project. Costs are generally categorized into direct, indirect, and intangible types. Direct costs include expenses such as construction, operation, maintenance, and mitigation measures needed to reduce environmental harm. Indirect costs may arise from loss of ecosystem services, reduction in agricultural productivity, damage to human health, and loss of biodiversity. Intangible costs are harder to quantify but include long-term ecological imbalance, cultural impacts, and aesthetic degradation. Benefits, ____ _________ _______ ________ _____ ____ ____ ___ ___ ____ _________.
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