Explain the relevance of intergenerational equity in the definition of sustainable development.
Meeting the basic needs of all that requires the distribution of resources is our moral obligation. It becomes obligatory to hand over the earth to the future generation in a good order. But, it is realised that if the resources (non renewable) are utilised fully, then these will deplete so fast that it will reduce the production capacity of the future generations. The economic development achieved today in such manner cannot be sustained for a long time as the production capacity of the future generations in absence of productive resources reduces. Therefore, sustainable development is the process of economic development that aims at meeting the needs of the present generation without comprising the needs of the future generations. Sustainable development maximises the welfare of both present and future generations. This development does not mean a check on the existing pace of economic growth. It only means a judicious or optimum utilisation of resources in such a manner that pace of economic growth sustains with inter generational equity.