Sustainable Development’(SD) off late has become a catchword. It has attracted the attention of people from almost all walks of life. A vast literature has been generated ever since the publication of the Brundtland report coining the concept in 1987. Unfortunately such a growth in literature has also rendered the concept much more confusing and ambiguous. The ambiguities, both terminological and conceptual, are accompanied by disagreements in terms of facts as well as consequences. To quote a recent study,“these problems arise in part because the sustainability of the human enterprise in the broadest sense depends on technological, economic, political and cultural factors as well as on environmental ones and in part because practitioners in the different relevant fields see different parts of the picture, typically think in terms of different time scales, and often use the same words to mean different things.”(Holdren et al, 1995, p. 4)