The correct option is 2 and 3 only.
Explanation
Sustainable Development is a development paradigm that balances economic growth, social inclusion, and environmental protection. It was famously defined by the Brundtland Commission Report (1987), titled Our Common Future.
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Statement 1 is Incorrect:
Sustainable development is not an obsolete concept; rather, it is the current global guiding principle for policy-making. It has not been replaced by "rapid industrialization" but seeks to regulate industrialization to ensure it does not destroy the ecological base. The United Nations' 2030 Agenda for Sustainable Development (SDGs) reinforces its relevance today.
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Statement 2 is Correct:
The core definition of sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs. It emphasizes intergenerational equity, ensuring that resources available today are preserved for the future.
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Statement 3 is Correct:
Groundwater is a renewable resource, but its supply is limited by the rate of recharge. If the rate of extraction exceeds the rate of replenishment, the water table falls, and the resource stock is depleted. This overuse compromises the availability of water for future use, making the current practice non-sustainable.
Key Takeaway:
Sustainable development relies on the principle of intergenerational equity, requiring that the consumption of renewable resources (like groundwater) does not exceed their natural regeneration rate.