The present work discusses the conceptual and technical issues encountered in formulating a quantized theory of gravity, via the reconciliation of quantum mechanics and general relativity. Quantum effects arising in a classically defined space-time derived through a semi classical approximation are studied at length and the significance of the particle interpretation in quantum field theory in the origin of such effects is established. The contradicting nature of the quantum effects against classically established principles is studied by considering the Hawking effect in a Schwarzschild black hole space-time. Further, the limits of prominent manifestation of the quantum effects with regards to the black hole mass is calculated taking into consideration the cosmic microwave background and the lifetime of the universe. Quantum effects are established as essential in incorporating thermal physics and black hole mechanics in a consistent formulation. Finally, the validity of the semi classical approximation is studied in terms of Planck scale black holes, transplanckian problem and the information loss paradox and the requirement for a fully quantized theory of gravity is realized.
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