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Explain economic and Social Variables, and also explain some socioeconomic benefits.
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Solution:

Economic and Social Variables :

  • What will be the abatement costs i.e., costs for controlling the environmental damage (e.g., pollution)? The abatement the cost will constitute the value of the additional engineering and technology needed for treating the effluents -and emissions.

  • Whether the project will have some socioeconomic benefits, of which the following are a few examples:

(a) Employment Generating:

  • The number of persons proposed to be employed vis-a-vis the employment situation of that area may be mentioned.

(b) Import Substitution:

  • How it is planned to be achieved and the amount of benefit expected may be mentioned.

(c) Ancillarisation:

  • Whether the unit will need sub-contracting functions of such type that ancillary industrial units may be promoted to meet them?

(d) Exports:

  • Quite likely the products proposed for manufacture maybe exported in full or in part.

(e) Local Resource Utilization:

  • Certain local resources which are presently a waste may be usefully utilized upon the project going on stream.

(f) Development of the Area:

  • How the establishment of the unit will bring on overall development in the area of its operation?
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