The objective of the Biological Diversity Act, 2002 is to provide for the conservation of biological diversity and the sustainable use of its components. This act was enacted by the Indian government to fulfill its obligations under the United Nations Convention on Biological Diversity (CBD), which India is a party to. The CBD aims to promote the conservation and sustainable use of biodiversity and the fair and equitable sharing of benefits arising from its utilization.

The key objective of the Biological Diversity Act, 2002 can be understood through the following points:

1. Conservation of Biological Diversity:
The act emphasizes the conservation of biological diversity, which includes not only the preservation of ecosystems, species, and their habitats but also the maintenance and restoration of their ecological processes. It recognizes the importance of maintaining ecological balance and the need to protect endangered and threatened species.

2. Sustainable Use of Components:
The act recognizes the importance of utilizing the components of biological diversity in a sustainable manner. It promotes the wise use of biological resources, ensuring that their utilization does not lead to the depletion or degradation of biodiversity. The act encourages the adoption of sustainable practices in sectors such as agriculture, forestry, fisheries, and industry.

3. Access and Benefit-Sharing:
The act also addresses the issue of access to biological resources and the sharing of benefits arising from their utilization. It recognizes the rights of local communities and indigenous people over their traditional knowledge and resources. It establishes the mechanism of obtaining prior informed consent and ensuring the fair and equitable sharing of benefits derived from the use of biological resources.

4. Institutional Framework:
The act establishes various institutions at the national, state, and local levels to facilitate the implementation of its provisions. This includes the National Biodiversity Authority (NBA), State Biodiversity Boards (SBBs), and Biodiversity Management Committees (BMCs) at the local level. These institutions play a crucial role in regulating access to biological resources, granting approvals, and promoting biodiversity conservation and sustainable use.

Overall, the objective of the Biological Diversity Act, 2002 is to promote the conservation of biological diversity and ensure its sustainable use, while also recognizing the rights of local communities and indigenous people and facilitating the fair and equitable sharing of benefits. It aims to strike a balance between conservation and utilization, thereby contributing to the long-term well-being of both ecosystems and human societies.