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Purpose: The primary objective of the paper is to examine the asymmetric Cointegration and asymmetric causality between financial development and poverty alleviation on annual data in Indian context over the period from 1980 to 2019. Design/methodology/approach: First nonlinearity test by Brooks et al. (1999) is applied to ascertain the nonlinear behavior of the variables used. Once the nonlinear behavior of variables is confirmed, asymmetric and nonlinear unit root tests by Kapetanios and Shin (2008) are applied to check for the order of integration of selected variables. Next, nonlinear autoregressive distributed lag model (NARDL) is employed to analyze the asymmetric Cointegration. Finally, Hatemi-j- asymmetric causality tests is applied to work out the direction of asymmetric causality. Findings: The empirical findings document the existence of asymmetries in the short-run as well as long-run between poverty and financial development. The asymmetry reveals that negative financial development shocks leave a more profound impact on poverty alleviation than their positive equivalents. The findings of Wald's test also confirm the presence of asymmetric Cointegration. The asymmetric cumulative dynamic multipliers used to examine the behavior of asymmetries and adjustments with respect to time lend credence to the results calculated using NARDL estimator. This result exhibits the robustness of the model. Furthermore, the result emanating from recently introduced asymmetric causality test reveals a unidirectional asymmetric causality between negative shocks in financial development and poverty. The findings of the present study necessitate the need for investigating asymmetric and nonlinear effects in finance–poverty nexus, which existent literature has completely neglected, in order to have relevant policy conclusions. Research limitations/implications: The study used "Per capita consumption expenditure" as a measure for poverty due to lack of continuous time series data on headcount ratio. In future, researchers can extend this study by incorporating headcount ratio as a measure of poverty in their respective works. There is further scope of research on this issue by finding out the impact of formal and informal sources of credit on poverty separately. A panel data study for developing countries over a period of time could further confirm/negate the findings of the present study. Originality/value: To the best of the authors' knowledge none of the studies in Indian context has scrutinized asymmetric and nonlinear impact of financial development on poverty. To dredge up asymmetric structures at work, the authors have used the highly celebrated NARDL estimator. To enrich the existent body of knowledge along the lines of asymmetric (nonlinear) linkages, the authors have also used recently introduced asymmetric causality test by Hatemi-j-(2012) to find out the direction asymmetric causality. [ABSTRACT FROM AUTHOR]

Fish drying is a traditional method of preserving and utilizing fish in India. Small-scale women processors play a dominant role in production and marketing of dried fish. This paper analyzes the changes in the profile of India's fish processing industry over time focusing on the dried fish segment. We postulate that structural changes in fish production, including the rapid surge in aquaculture production, are closely linked to changes in fish processing and utilization in India. In particular, surge in demand for fishmeal and fish oil (FMFO) as an ingredient in aquaculture feeds has tilted fish utilization from direct human consumption towards feed. We pool data on India's fish production, utilization, and trade to describe these changes and their implications through descriptive analysis and regression modeling. Results from the regression analysis show that the FMFO segment gains market share mostly at the expense of the dried fish segment. [ABSTRACT FROM AUTHOR]

Purpose - Though an accumulating body of study has analysed monetary policy transmission in India, there are few studies examining the differential impact of monetary policy action. Against this backdrop, this study aims to analyse the differential impact of monetary policy on aggregate demand, aggregate supply and their components along with the general price level in India. Design/methodology/approach - The study develops a structural macroeconometric model, which is primarily aggregate and eclectic in nature. The generalized method of movements is used for estimation of behavioural equations, while a Gauss-Seidel algorithm is used for model simulation purposes. Findings - The paper presents the results of two policy simulations from the estimated model that highlight the differential impact of monetary policy. The first one, hike in the policy rate by 5%and second is a reduction in bank credit to the commercial sector by 10%. The results from the first policy simulation experiment reveal that interest hike has a significant negative impact on aggregate demand, aggregate supply and general price level. However, the maximum impact is borne by investment demand and imports followed by private consumption. While as among the components of aggregate supply maximum impact is born by infrastructure output followed by the manufacturing and services sector with the agriculture sector found to be insensitive in nature. The results from the second policy simulation experiment revealed that pure monetary shocks have a significant negative impact on aggregate demand, aggregate supply and general price level. However, the maximum impact is born by private consumption and imports followed by investment demand. While as among components of aggregate supply maximum impact is borne by infrastructure followed by the manufacturing and services sector with the agriculture sector found to be insensitive in nature. From both policy simulation experiments, the study highlighted the relative importance of the income absorption approach as opposed to the expenditure switching effect. Practical implications - The results obtained in this study provides a strong framework for design the monetary policy framework. The results are in a view of the differential impact of monetary policy action among the components of both aggregate demand and aggregate supply. This reflection of differential impact has immense significance for the macroeconomic stabilization as the central bank will have to weigh the varying repercussion of its actions on different sectors. For instance, the decline in output after monetary tightening might be conceived as mild from an overall perspective, but it can be appreciable for some sectors. This differential influence will have an implication for policy design to care for distributional aspects, which otherwise could be neglected/disregarded. Similarly, the output decline may be as a result of either consumption postponement or a temporary slowdown in investment. However, the one emanating due to investment decline will have lasting growth implications compared to a decline in consumer demand. In addition, the relative strength of expenditure changing or expenditure switching policies of trade balance stabilization may have varying consequences in the aftermath of monetary policy shock. Accordingly information on the relative sensitiveness/insensitiveness of different sectors/components of aggregate demand towards monetary policy actions furnish valuable insights to monetary authorities in framing appropriate policy. Originality/value - The work carried out in the present paper is motivated by the fact that although a number of studies have examined the monetary transmission mechanism in India, a very few studies examining the differential impact of monetary policy action. However, to the best of the knowledge, there is no such studies, which have examined the differential impact of monetary policy in the structural macroeconometric framework. The paper will enrich the existing literature by providing a detailed account of the differential impact of monetary policy among the components of both aggregate demand and aggregate supply in response to an interest rate hike, as well as a decrease in the money supply. [ABSTRACT FROM AUTHOR]

Studies on the association between population ageing and health spending are inconclusive. Though per capita health spending has a strong age gradient, evidence from the developed countries attributes increasing health expenditure to high spending in terminal year of life. In India, though studies have examined the level, trends and determinants of health care spending, no attempt has been made on association of population ageing and per capita health spending across the districts of India. The objective of this paper was to examine the spatial dependencies and heterogeneities of population ageing and per capita health spending across 640 districts of India. Data from the Census of India (2011) and the consumption expenditure rounds of the National Sample Survey Organisation (NSSO) (2009–10 and 2011–2012) were used in the analysis. Univariate and bivariate LISA analysis, ordinary least square regression, and spatial error model were used to decipher the spatial pattern of population ageing and health spending in the districts of India. Results suggest that per capita health expenditure is positively associated with the proportion of the older adults (aged 60 years and above) in the districts of India. Districts with less than 5% older adults have an annual per capita health expenditure of ₹629 compared to ₹2432 in districts with older adults 12% or more. Districts of India also exhibit large spatial heterogeneity in household health spending. Bivariate Moran's I statistic of proportion of older adults and per capita annual health expenditure was 0.48, suggesting spatially association of the share of the older adults and the per capita annual health expenditure in India. Results of the spatial error model confirmed that share of urban population, mean wealth score, and mean household size are significant predictors of per capita annual health expenditure in India. This study is important to monitor the progress of universal health coverage across the disadvantaged districts and to integrate age component in universal health coverage programmes. [ABSTRACT FROM AUTHOR]

Issues To review the burden of alcohol use in India, examine current policy initiatives and programs specific to India and provide a roadmap for future actions. Approach: A literature search was undertaken to review available published research papers, unpublished reports and anecdotal media information in the period 2000–2020 to assess the burden and pattern of alcohol use and appraise alcohol control policies in India. Key Findings: The per‐capita alcohol consumption among individuals aged 15+ years was 5.7 L, which increased over time. Prevalence of alcohol use varied across states with considerable impact on the nation. Regulatory policies and alcohol control programs vary across Indian states, with poor enforcement and implementation. Taxation and pricing policies are revenue oriented. Policies are needed to address the aggressive and innovative marketing strategies of the alcohol industry. The system for regular monitoring of alcohol burden and conducting alcohol policy analysis needs strengthening. Implications: Alcohol use and its public health impact would continue to increase in India in the absence of effective policy and programs; the country may not achieve its stated goal of relative reduction of alcohol use prevalence by 10% by 2025. Conclusion: The prevailing alcohol control policies and programs in India have been less than fully effective in controlling the burden of alcohol use and its associated impact. There is a need for comprehensive, evidence‐based and consensus‐driven national alcohol control policy to appropriately guide and support the Indian states in regulating alcohol and reducing the associated burden. Effective implementations of such policies are central to its success. [ABSTRACT FROM AUTHOR]

India has the world's biggest and arguably most aggressive employment-based affirmative action policy for minorities. This paper exploits the institutional features of a federally mandated employment quota policy to examine its causal impact on the economic lives of the two distinct minority groups (Scheduled Castes and Scheduled Tribes). My main finding is that a 1-percentage point increase in the employment quota for Scheduled Castes increases the likelihood of obtaining a salaried job by 0.6-percentage points for male Scheduled Caste members residing in the rural sector. The employment quota policy has no impact for Scheduled Tribes. Contrary to popular notion, I do not find evidence of "elite-capture" among the Scheduled Castes – the impact is concentrated among members who have completed less than secondary education. Consistent with the employment results, I find that the policy improved the well-being of Scheduled Castes members in rural areas who have completed less than secondary education. Finally, the impact of the employment quota policy varies by state characteristics. [ABSTRACT FROM AUTHOR]

An increase proportion of elderly means additional national responsibility to meet the emerging challenges to ensure well-being. Family, kinship, and community which were the strong sources of social support and care for the elderly in India has become weaker in recent times. Eight of India's states are considered to be relatively socioeconomically backward, and are referred to as the Empowered Action Group (EAG) states, while rest of the states are demographically more advanced and many have achieved replacement level of fertility. The purpose of this paper is to compare the pattern of living arrangements and economic dependency among elderly in EAG and non-EAG states of India. Data from the National Sample Survey 71st round was used for analysis (N = 27,245). Results suggest that majority of the elderly co-resided both in EAG and non-EAG states. The major difference in living alone between EAG and non- EAG states is found according to religion, consumer expenditure quintile, and perceived health. Overall, 72% elderly are economically dependent on others. The differences between EAG and non-EAG states in economic dependency are considerable according to marital status, education, religion, and consumer expenditure quintile. Multivariate analysis revealed that the chances of living alone and economic dependency are higher in non-EAG states than EAG states. Number of surviving children, education, and consumer expenditure quintile are the significant predictors of living alone, while age, gender, and education significantly influence economic dependency. The findings call for making appropriate changes in policies and programmes to ensure social security and health of the elderly. [ABSTRACT FROM AUTHOR]

The main objective of this paper is to investigate the economic determinants of female-owned proprietorships for 52 metro cities in India. The National Sample Survey (NSS) unit-level data are used for the analysis. The descriptive results show that women's proprietorship is much lower than its counterpart. The Probit regression results at the individual level show that women entrepreneurs do not have a bank account or computer but use the internet, are not registered under any act or authority, and do not expand considerably. They operate within household premises with a limited number of months and duration of a day, undertaking mainly contract basis. They also face several problems that hinder their activities. City-level factors such as work participation rate, consumption expenditure, higher levels of general and technical degrees, and vocational training are essential. The likelihood of becoming a female entrepreneur is negatively impacted by the two agglomeration variables of population size and participation in mixed activity. City-level poverty and inequality also adversely affect it. State-level Human Development Index, Gender Development Index, and Gender Inequality Index are also significant. Finally, we propose important policies to enable the city environment to improve women's entrepreneurship activities for higher and sustainable economic development. • Female-owned entrepreneurship (FOE) is essential for sustainable and inclusive economic growth in developing countries. • The agglomeration size, unequal economic distribution, and less female-friendly society discourage becoming FOE. • Knowledge spillovers, labour pooling, availability of public services, and infrastructure encourage FOE. • Cities need to increase investment, employment, level of education, and delivery of public services. [ABSTRACT FROM AUTHOR]

Highlights • I examine whether households' consumption is influenced by that of their peers using Indian data. • I employ an instrumental variables/fixed effects approach. • I find robust evidence of peer effects in consumption. • Thus policies that influence household consumption are likely to have social spillovers. Abstract This paper examines peer effects in consumption in context of a less developed country. Specifically, the question that I seek to answer is whether consumption expenditure of a household is influenced by that of its peers in a less developed country. To examine this question, I use newly available household level data from India. I define a household's peer group as other households living in its village/neighborhood. In assessing the influences of peers in this context, there are two key empirical challenges including shared group-level unobservables, and simultaneity of peer influences. I address these issues by using an instrumental variables/fixed effects approach that compares households in the same district but different villages/neighborhoods who are thus exposed to different sets of peers. In particular, I use plausibly exogenous variation in idiosyncratic expenditure shocks – which are accidental and negative in nature – faced by peers as instruments for peers' consumption expenditure. Preferred specification suggests that a one standard deviation increase in average consumption expenditure of a household's peers causes the household's own consumption expenditure to increase by 0.42 standard deviations. Falsification tests and robustness checks support the validity of my results. My findings suggest that policies that influence a household's consumption will also affect the consumption of the household's peers through social interactions. This implies traditional analyses of consumption intervention programs that do not take into account such spillover effects will understate the total social impact of the programs, and hence lead to inaccurate evaluation of cost-effectiveness of such programs. [ABSTRACT FROM AUTHOR]

Summary It is well known that consumption patterns change with income. Relative price changes would therefore affect rich and poor consumers differently. Yet, the standard price indices are not income-specific, and hence, they cannot account for such differences. In this paper, we study consumption inequality in India, while fully allowing for non-homotheticity. We show that the relative price changes during most of the period from 1993 to 2012 were pro-poor, in the sense that they favored the poor relative to the rich. As a result, we also find that conventional measures significantly overstate the rise in real consumption inequality during this period. The main lesson from our study is the importance of accounting for non-homotheticity when measuring inequality. The price index literature has, as of yet, paid relatively little attention to this. In our application, however, it turns out that the allowance for non-homotheticity is quantitatively much more important than much discussed adjustments, such as those for substitution in consumption. [ABSTRACT FROM AUTHOR]

Summary The Indian National Rural Employment Guarantee Scheme (NREGS) is one of the world's largest public works programs aimed at reducing poverty. NREGS guarantees up to a hundred days of employment in public works to rural households that demand work under the program. This is one of the first papers to analyze the impact of NREGS on household wellbeing by focusing on household consumption using national-level data. By focusing on consumption, I am able to assess whether and how household use the program to improve their living standards. I exploit the cross-district rollout of the program to analyze the causal effect on household consumption. Using the Consumption Expenditure Survey data from the National Sample Survey Organization, I conduct a difference-in-difference analysis where the treatment group consists of households in 184 early implementation districts and the control group consists of households in 209 late implementation districts. I find that the program significantly increased household per capita consumption between 6.5% and 10%. For the marginalized caste group, the program increased consumption by around 12%. Therefore, historical and ongoing discrimination along with other barriers to entry have not prevented this group from benefiting from the program. I further assess the impact on household budget allocation by focusing on various consumption categories. I find that households move toward the higher caloric and more nutritional items, like protein. Finally, for households with children there was significantly greater spending on “child goods” like milk, while in households without children spending on alcohol increased. [ABSTRACT FROM AUTHOR]

Focusing on the resilience of distinctive local consumption cultures, this paper challenges some of the more sweeping claims that have been advanced in the name of ‘globalization’. Thinking about a ‘globalizing’ rather than a fully ‘globalized’ world encourages us to examine the deeply contested nature of the concept and to explore the geographically uneven nature of recent economic, political and cultural transformations. This paper approaches globalization as a site of struggle rather than as an established fact, emphasizing the need for empirically grounded studies of the impact of ‘globalization’ on consumer cultures in different geographical contexts. The paper examines the way that producers have ‘customized’ their products for different markets (drawing on evidence from China and South Africa). It then reviews case study evidence from three contrasting consumption cultures: consumption and ‘public culture’ in India, ‘consumer nationalism’ in China, and ‘artful consumption’ in Russia. The paper concludes by identifying some current debates and outlining some directions for future research, including a re-emphasis on consumption and material culture; an exploration of consumption as social practice; the delineation of commodity-specific consumption cultures; and some reflections on the political, ethical and methodological issues that are being raised in contemporary consumption research. [ABSTRACT FROM AUTHOR]

• The paper estimates association between free sourcing of foods and diets in India. • Free collection does not increase the likelihood of having at least two meals. • It however increases the likelihood of having more than two meals. • Households that collect foods have at least 77% higher dietary diversity. • This is driven by higher probability of consuming fish, GLVs, meats. Despite recognition of the role of free collection of foods in forwarding nutritional security, there is only limited systematic research on its importance and role. This paper provides the first estimates for India, of the extent to which households depend on free collection of foods and examines its association with dietary adequacy and quality. In 2011–12 around 5.8% of all Indian households collected foods free, with some households collecting more than ten distinct food types in a month. For these households, free collection comprised, on average, 4.5% of the total value of food consumption, going upto 15% for a tenth of them. Using a pooled cross-section from 2009–10 and 2011–12 of nationally representative household level consumption data that identifies the source of food, this paper uses an instrumental variable approach to estimate the association between free collection of foods and dietary adequacy and quality. The paper finds that the probabiity of having more than two meals increases when households access free foods and there is robust evidence of higher dietary diversity (77% to four-fold), driven by specific food groups such as vegetables, meats, fish and green leafy vegetables. The findings of this paper point to a need to mainstream discussions of sources of food other than farm, market and state, recognizing explicitly the role of free collection in improving dietary adequacy and quality. [ABSTRACT FROM AUTHOR]

Drawing on a number of case studies from Tamil Nadu, this paper shows that bonded labour is not a relic of the past, but surprisingly contemporary. Refuting the tenets of the semi-feudal thesis, we argue that unfree labour can go hand in hand with capitalism, and that it can be initiated and sustained by capital itself in order to accumulate surplus value. Going against the tenets of the de-proletarianization thesis, we suggest that bonded labour is not always the preferred working arrangement for capitalism. Bonded labour should be examined in connection with specific historical contexts, the changing nature of the economy, the evolution of political forces and modes of socialization. I argue that bonded labour results from a specific regime of accumulation characterized by cheap labour, increased domestic demand sustained through household debt, as well as modes of conflict, contestation and worker identity formation that engage with both governmental programmes and consumerism. [ABSTRACT FROM AUTHOR]

Using consumption expenditure data of the National Sample Survey 2004-2005, this paper estimates the size of elderly poor and tests the hypotheses that elderly households are not economically better-off compared to non-elderly households in India. Poverty estimates are derived under three scenarios-by applying the official cut-off point of the poverty line to household consumption expenditure (unadjusted), consumption expenditure adjusted to household size and consumption expenditure adjusted to household composition. Results show that an estimated 18 million elderly in India are living below the poverty line. On adjusting the consumption expenditure to household size and composition, there are no significant differences in the incidence of poverty among elderly and non-elderly households in India. This is in contrast to the notion that elderly households are better off than non-elderly households in India. Based on the findings, we suggest that the age dimension should be integrated into social policies for evidence based planning. [ABSTRACT FROM AUTHOR]

The concept of 'financial inclusion' has become a central trope that legitimates a wide range of contemporary development practices. By constructing a new object of development - the 'financially excluded' - it facilitates the expansion of an increasingly corporatized microfinance technocracy. The present paper problematizes the underlying binaries of inclusion/exclusion and formal/informal finance upon which this narrative is based. Through an examination of the 2010 Andhra Pradesh microfinance crisis, it demonstrates key contradictions within the discourse and practices of commercial microfinance. In so doing, it demonstrates why the narrative of financial inclusion and its correlate notion of 'consumption smoothing' are inadequate tools with which to conceptualize the political economy of contemporary agrarian change. [ABSTRACT FROM AUTHOR]

Abstract: In a world increasingly affected by global environmental changes, Low Income countries will play an ever more central role in determining the future health of the biosphere. While global use of the biosphere''s capacity has increased over the past 45 years, per capita demand for biocapacity, as measured by the Ecological Footprint, has only increased in high-income countries and has remained constant or fallen in middle- and low-income nations. Consumption has increased faster than population in high-income nations, while population growth has been the dominant factor in middle- and low- income countries. Although listed in the middle-income group of countries, China showed atypical trends in the past 45 years, with a rapid increase in per capita Ecological Footprint that outstrip its gains in income. Typical trends were instead noticed for India, whose per person Ecological Footprint has fallen slightly. The results of this paper show that decisions made in China and India will be of fundamental importance for future global sustainability. [Copyright &y& Elsevier]

Aims This paper explores India's role in the world illicit opiate market, particularly its role as a producer. India, a major illicit opiate consumer, is also the sole licensed exporter of raw opium: this unique status may be enabling substantial diversion to the illicit market. Methods Participant observation and interviews were carried out at eight different sites. Information was also drawn from all standard secondary sources and the analysis of about 180 drug-related criminal proceedings reviewed by Indian High Courts and the Supreme Court from 1985 to 2001. Findings Diversion from licit opium production takes place on such a large scale that India may be the third largest illicit opium producer after Afghanistan and Burma. With the possible exceptions of 2005 and 2006, 200–300 tons of India's opium may be diverted yearly. After estimating India's opiate consumption on the basis of UN-reported prevalence estimates, we find that diversion from licit production might have satisfied a quarter to more than a third of India's illicit opiate demand to 2004. Conclusions India is not only among the world's largest consumer of illicit opiates but also one of the largest illicit opium producers. In contrast to all other illicit producers, India owes the latter distinction not to blatantly illicit cultivation but to diversion from licit cultivation. India's experience suggests the difficulty of preventing substantial leakage, even in a relatively well-governed nation. [ABSTRACT FROM AUTHOR]