Which of the following is NOT true about "Sustainable development"?

The correct option is Option 1: Development which allows future generation to have an excellent quality of life.

Explanation:

• Development which allows future generation to have an excellent quality of life: This is false. Sustainable development is development that will allow all future generations to have a potential average quality of life that is at least as high as that which is being enjoyed by the current generation.
• Development that meets the need of present generation without compromising on future needs: This is a core principle of sustainable development, balancing current needs with future resource availability.
• Resources used in a way that they are left for our grand kids in at least the same condition if not better: This is also correct. Sustainable development emphasizes responsible resource use to maintain or improve the condition of resources for future generations.