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Regd. & Corp. Office
Regd. & Corp. Office
West Bengal Office
0253-2355665 Mon-Fri 09:30AM - 06:30PM Hall No.1, First Floor, NICE Sankul, ITI Signal, MIDC Satpur
Mon-Fri 09:30AM - 06:30PM Gobindapur New Colony, Kannyapur, Asansol (N), Paschim Bardhaman, West Bengal – 713 341.
Regd. & Corp. Office
Regd. & Corp. Office
West Bengal Office
0253-2355665 Mon-Fri 09:30AM - 06:30PM Hall No.1, First Floor, NICE Sankul, ITI Signal, MIDC Satpur
Mon-Fri 09:30AM - 06:30PM Gobindapur New Colony, Kannyapur, Asansol (N), Paschim Bardhaman, West Bengal – 713 341.
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socio economic study mantras

What is Socio Economic Study ?

The study of socio-economic component incorporates various facets related to prevailing social and cultural conditions and economic status of the study region. The socio-economic study includes analysis of demographic structure, population dynamics, infrastructure resources, status of human health and economic attributes like employment, per-capita income, agriculture, trade, and industrial development in the study region.

The aesthetic component of environmental study refers to the scenic value if any in the study area, tourist attraction and wildlife, historic and cultural monuments. The study of these parameters helps in identification, prediction and evaluation of likely impacts on socio-economic and parameters of human interest due to proposed project. To assess impact on socio-economic environment latest available data has been compiled to delineate the baseline socio-economic profile in study area.

Baseline Status

Baseline information is collected after delineation of the baseline study area in order to study the socio-economic profile of the project affected area. The process related to baseline database analysis includes:

  • Demographic Structure
  • Infrastructure Base
  • Economic Structure
  • Health Status
  • Cultural Attributes
  • Salient Observations
  • Public Awareness and their concerns regarding the proposed project
  • Socio-economic status in relation with ‘Quality of Life’

Socio-Economic Study

  • A socio-economic impact assessment is a study to determine how a proposed development project will affect or change the lives of current or future residents of a community or geographic area.
  • Social Impact Assessment (SIA) is the process of analyzing, monitoring and managing the social and cultural consequences of programmes and projects, prior to proceeding with their implementation
  • All development may have an impact to the human life to examine how a proposed development will change the lives of current and future residents of a community/study area and suggest the CSR activity to the development owner for the development of the villages which facilities are lacking in the villages. Through this study company can prepare the CSR programmed. planning and fulfill the lacking requirements of the surrounding villages and provide the sustainable development.
environment economic
environment socio

Contributions to socio-economic objectives

Innovation can play a critical role in addressing socio-economic objectives, which are affected by the following factors.

Economic growth and employment. (See Contributions to growth and jobs).

  • Neoclassical growth models consider knowledge accumulation and technological progress as the only way to achieve long-run growth to reduce effect of diminishing returns to capital. Advances in growth theory have recognised the endogeneity of the accumulation of knowledge capital and human capital: human and knowledge capital derive from investment decisions of individuals and firms in response to economic incentives and therefore to policies and institutions. Innovation is also often associated with setting up new enterprises to provide the market with new offerings and create new jobs. At the same time, innovation can lead to firm closures and job destruction if products or services become obsolete or are displaced by more competitive offerings. Aggregate employment effects will depend on the nature and effectiveness of labour reallocations.

Environmental challenges. (See addressing environmental challenges).

  • Innovation is increasingly perceived as crucial for tackling environmental challenges like limiting climate change and global greenhouse gas emissions and maintaining biodiversity. Innovation can contribute to addressing environmental challenges through the introduction of new technologies and non-technological innovations. These non-technological innovations—in particular, organisation innovation—are needed to make environmental technological innovation effective. For example, evidence shows that innovation in climate change mitigation technologies is accelerating and that in recent years manufacturing companies have also been upgrading their efforts towards sustainable manufacturing, from introducing pollution prevention to designing integrated approaches that take into account product lifecycles and wider impacts.

Social challenges. (see Addressing social challenges)

  • Innovation can help alleviate social challenges, which encompass health and demographic challenges, and social exclusion and inequalities, among others. As an example, innovation can help elderly individuals remain healthier, live independently longer, and counteract the diminishing of physical capabilities that become more prevalent with age. Innovation can also provide more personal, predictive and preventive health care products that improve the quality of human health. In addition, frugal or inclusive innovations that basically are cheaper and simplified versions of existing goods help reduce differences in living standards between groups in society. In addition to innovation addressing social exclusion social benefits arise by creating employment opportunities and addressing particular challenges faced by lower income groups.

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