Benefits from environmental improvements could be measured either as welfare gains or the costs avoided to society. The preparation of environmental accounts at the macro level and at the micro or project level requires information about the benefits and costs of environmental changes. This book provides this information drawing from some of the research studies carried out at the Institute of Economic Growth, Delhi, India during the last forty years. It presents studies about the valuation of environmental changes not only from the consumers’ perspectives but also studies that take into consideration the producer (production) perspectives. Mainstream environmental and resource economics books contain discussions on standard non-market valuation methods (revealed and stated preference methods) which are based on consumer perspectives for measuring benefits from environmental improvements. These studies provide valuable information for preparing environmental accounts at the national (aggregate) and project (micro) levels. The editors believe, this could be the first book in the area based on sound conceptual and theoretical underpinnings with empirical exercises and will be useful both for undergraduate and postgraduate students, policymakers, and researchers.