Bhattacharya compares price-based instruments (like carbon taxes and emission fees) against quantity-based instruments (such as tradable pollution permits). The analysis weighs which system provides the most cost-effective compliance for Indian industries. 3. Renewable and Non-Renewable Resources
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A dedicated chapter on proposes a dual‑benefit index that simultaneously captures productivity gains from drought‑tolerant seeds and emission reductions from reduced fertilizer use. The index is then linked to a conditional cash transfer (CCT) program, demonstrating a policy tool that aligns climate mitigation with poverty alleviation.
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Prof. Bhattacharya passed away in 2022, and his work continues to be highly regarded, with the book being cited in academic homages and by institutions like the Indian Council of Social Science Research (ICSSR) in subsequent years.
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Dr. Bhattacharya smiled and replied, "Ah, yes! I've been working on a new edition of my book, which includes recent advancements in environmental economics, such as the application of behavioral economics to environmental policy and the economic impacts of climate change on human health."