Highlighting the Economic Impact of Judicial Decisions

Despite periodical recognition of the importance of economic impact assessment of judicial decisions, some of the recent judgements/order of the Supreme Court of India (SC) and National Green Tribunal (NGT) indicate that this idea is yet to gain broader acceptance. This is particularly exacerbated when judicial activism by courts and tribunals is also in play.

In order to address such challenges, it is important to highlight the economic impacts of judicial decisions through a structured and systematic process. This could aid in economically sound decision making by exemplifying the benefits of economic impact assessment of judicial decisions to the relevant stakeholders. In parallel, there is a need to create a public discourse among key policymakers, members of the judiciary, and academia for promoting an economically responsible approach while deciding cases.