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This paper reviews and assesses India's energy policy in the context of its commitment to achieve the target of net-zero carbon emissions by 2070. It emphasizes the central role of green electrification, particularly through the expansion of solar power capacity. It discusses policies outside the energy sector that need to be part of a strategy of achieving this target, including the use of information technology, infrastructure development, and transportation. Furthermore, it examines possible policy options for accelerating the target date to 2050, especially with the use of carbon capture to manage the transition from the current heavy use of coal. The paper also discusses the possible financial and growth implications of various strategy options, arguing that feasible external financing commitments can allow India to achieve net-zero goals without sacrificing economic growth. [ABSTRACT FROM AUTHOR]

Concerns regarding environmental sustainability have generally been an important element in achieving long-term development objectives. However, developing countries struggle to deal with these concerns, which all require specific treatment. As a result, this study explores the interaction between financial development, renewable energy consumption, technological innovations, and CO2 emissions in India from 1980 to 2019, taking into account the critical role of economic progress and urbanization. The Autoregressive Distributed Lag (ARDL) model is used to quantify long-run dynamics, while the Vector Error Correction Model is used to identify causal direction (VECM). According to the study's conclusions, financial development has a considerable positive impact on CO2 emissions. The coefficient of renewable energy consumption and technical innovations, on the other hand, is strongly negative in both the short and long run, indicating that increasing these measures will reduce CO2 emissions. Furthermore, economic expansion and urbanization have a negative impact on environmental quality since they emit a significant amount of CO2 into the atmosphere. The results of the robustness checks were obtained using the Fully Modified Ordinary Least Squares (FMOLS), the Dynamic Ordinary Least Squares (DOLS), and the Canonical Cointegration Regression (CCR) approaches to verify the findings. The VECM results reveal that there is long-run causality in CO2 emissions, financial development, renewable energy utilization, and urbanization. A range of diagnostic tests were also used to confirm the validity and reliability. This study delivers new findings that contribute to the existing literature and may be of particular interest to the country's policymakers in light of the financial system and its role in environmental issues. [ABSTRACT FROM AUTHOR]