Development versus conservation has long been a topic of heated debate. Despite efforts to bring the two perspectives together on a common platform, no universally-accepted approach has been found. It is increasingly being realized that the global population and its aspirations are growing manyfold, putting natural resources under serious stress due to increasing competitive uses. It is no more just about ‘conservation or development’, it has become about ‘whose development’ and ‘how much (intensity of) development’. And, thus, one enters the realm of governance.