IT WAS heartening to see Proloy Bagchi’s concern for the conservation of heritage of Bhopal ‘the Bhoj Wetland’ as well as to his serious thoughts about taking immediate steps to save the lifeline and pride of Bhopal.
He suggested conducting study on economic valuation of Bhoj Wetland to generate number – a language better understood by policy makers for the promoting its conservation.
In this regard, I wish to bring to the notice of all concerned that a detailed study ‘Economic Valuation of Bhoj Wetland for Sustainable Use’ was undertaken in IIFM by the writer during the year 1998-2000 under the World Bank supported Environmental Management Capacity Building (EMCaB) project implemented through the Ministry of Environment and Forests, Government of India.
Detailed economic values accruing to various stakeholders were calculated through a large survey and participation of all concerned was sought. Eventually a financing mechanism to maintain the capital structures built under the then Bhoj wetland was suggested.
If the management body so desires, the values can be recalculated in present value terms and the study findings could be used for financing Bhoj Wetland conservation.
Dr Madhu Verma, Environmental Economist and Professor, IIFM, Bhopal