[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART-II, SECTION-3, SUB-SECTION (i)] - MINISTRY OF CORPORATE AFFAIRS

· Physical vs. monetary accounts. Physical accounts only include information about natural characteristics of the environment and its use; the size of forests or mineral reserves, the quality of water or air, the depth of topsoil, etc.. In contrast, monetary accounts place an economic value on those characteristics or their use, so as to understand the role they play in the economy. Given the difficulty of estimating the monetary value of certain aspects of the environment, some individuals (and countries) advocate development of only physical accounts. · Integrated accounts vs. satellite accounts. Integrated accounts change the calculation of GNP, GDP, and other key national indicators. Satellite accounts (of...