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Purpose: This study aims to examine the cryptocurrency adoption (CA) level among Indian retail investors who use cryptocurrency as an investment and mode of transaction. Design/methodology/approach: Through self-administered survey questionnaires, data is collected from 397 retail investors of Haryana (India). This study adopted a quantitative method using partial least squares structural equation modeling (PLS-SEM). Findings: This paper offered a robust model with a high explanatory value for CA in which four of the five proposed factors of diffusion of innovation theory (trialability, compatibility, complexity and observability) and one of the two proposed factors of consumer behavioral theory (perceived value) significantly influences CA. More specifically, the absence of regulatory support is a barrier to the broad adoption of cryptocurrencies, as its regulations are necessary to mitigate or minimize uncertain outcomes. Research limitations/implications: This research primarily focuses on CA in India. Thus, it can be extended to cover diverse other countries for more precise results. Practical implications: The results provide insights to the government to design the policies, better regulate and make investment strategies that can ultimately enhance CA. In addition, the study's results also inform financial educators, policymakers, employers and academicians about the significance of several variables affecting CA in India. Social implications: From a social standpoint, this study is an advance that directs central banks and governments to develop, regulate and manage digital currencies and implement a digital currency ecosystem. Moreover, the results assist in understanding investors' perceptions and decision-making perspectives toward cryptocurrencies through the country's digitalization. Originality/value: This paper fills the study gap to assist policymakers and cryptocurrency experts in broadening their knowledge base and recognizing prioritized intentions. Additionally, this study provides a theoretical model with the latent variable for a present and pertinent matter. [ABSTRACT FROM AUTHOR]

Purpose: This paper explores the current state of Robo-advisory services in India. This paper further highlights the problems experienced by the service providers in disseminating the innovative business model among the Indians. Design/methodology/approach: The study adopts a qualitative approach to investigate the industry experts by conducting semi-structured interviews. The data collected were transcripted and further analyzed using the content analysis technique. Finally, the authors utilized categorization and coding techniques to frame broad study themes. Findings: The study findings reveal that the three pillars of Robo-advisory are ease and convenience, the time factor and transparency in operations. Robo-advisory services are still at a nascent stage in India. Furthermore, keeping the sentiments of Indians in mind, FinTech companies could combine automated Robo-advisory with a human touch of a wealth manager for optimal advisory services. Research limitations/implications: Since the present study is qualitative, the authors cannot generalize the study results. Future research can focus on empirically proving the constructs of the study using quantitative methods. Practical implications: Robo-advisors have a well-established market in developed nations but are still nascent in developing countries like India. The current focus of service providers and regulatory authorities must be to increase awareness among investors by educating the investors and building trust. Originality/value: The present study is the first to qualitatively synthesize the challenges faced by the FinTech service providers in the Indian market. [ABSTRACT FROM AUTHOR]

Purpose: The paper demonstrates prejudicial effects of the rising private participation and the lacuna of state in ensuring the accessibility and affordability of healthcare. Design/methodology/approach: Secondary data analysis from national and international databases is employed to demonstrate the low government spending and the alternate healthcare financing mechanisms in the country. The company reports of six Indian pharma companies are examined to map the profits and revenues, and also taking into account the sales growth and return on investment. Findings: The paper observes the pharmaceutical sector, via its spiralling drug prices, is the primary contributor to the huge out-of-pocket expenses borne by households. The study findings indicate that there is an increased divergence between the out-of-pocket expenses of households and exorbitant profits of the private drug companies in the country over the years. Research limitations/implications: Amidst debates on the importance of public health in the aftermath of the pandemic, the paper examines the rising hands of private sector in healthcare, and implores – who benefits? The authors study the implications via looking into the rise in the wealth of pharma giants; at the time of crisis when the lives of common citizens in the country were at stake. Originality/value: The paper emphasises the repercussions of the higher markup of the pharma industry in raising the healthcare costs of households. The authors emphasise that the nonregulation of the pharma sector leads to high medical debts/poverty, in the wake of growing out-of-pocket expenditures of the citizens. [ABSTRACT FROM AUTHOR]

In 2013, the Indian government mandated all companies to spend a portion of their profits on Corporate Social Responsibility ('CSR') activities but did not require companies to incorporate sustainability into their business, leading the statutory provision mandating CSR to become a box-ticking exercise. This approach of tick-box compliance with the CSR mandate is now being questioned by various investment funds that are actively pushing for the incorporation of Environmental, Social and Governance ('ESG') concerns into the business practices of their portfolio companies. While the Stewardship Codes promulgated by the various Indian regulators expressly mandate investment funds to monitor the ESG risks of their portfolio companies, there are no sanctions for non-compliance. This paper suggests the introduction of a market-based enforcement mechanism for the Stewardship Codes to enhance their effectiveness and practical relevance in the Indian legal framework. [ABSTRACT FROM AUTHOR]

The fund allocation in agricultural sector in India is heavily tilted toward input subsidies provision; however, researchers seem to favor investment expenditure instead. The present paper seeks to compare the usefulness of input subsidies as compared to investment with regard to agricultural productivity so that policy makers hit the right tool and avoid less productive state expenditure. We investigated a total of four regression models using autoregressive and distributed lag cointegration in a time series framework covering period from 1983 to 2019. The first model considers all input subsidies in aggregate form, and the rest three models take input subsidies in disaggregate forms, namely fertilizer subsidy, irrigation subsidy and power subsidy, respectively. It is observed from the results that input subsidies still contribute more than what public investment does to agricultural productivity. It is also found that power subsidy is the most effective component of input subsidies followed by fertilizer subsidy. Hence, government expenditure on input subsidies is justified on the ground that it ensures all farmers to have access to affordable agricultural inputs. Targeted subsidies combined with adequate investment in agricultural infrastructure could deliver long-term agricultural development in India. [ABSTRACT FROM AUTHOR]

This paper exploits the regime-switching threshold cointegration approach to elicit the dynamics in the saving-investment relationship and capital mobility in India. Empirical results offer key insights into the threshold cointegration between the saving and investment rates. We find that the adjustment in investment rate in the upper regime is faster than in the lower regime, indicating the higher mobility of capital in the upper regime. Further, results reveal the absence of firm evidence of long-run vs. short-run asymmetries between saving and investment rates. However, results suggest that cumulative positive and negative sums of saving rates affect investment rates. We have made adjustments to cyclical and trend patterns in our data using Hamilton's (2018) filter and have produced robust results with regard to asymmetric cointegration. The posterior estimation results suggest that a downward trend in the saving rates substantially impacts the investment rates, and widening the gap between saving and investment rates facilitates huge mobility of international capital in the long run. [ABSTRACT FROM AUTHOR]

Personal financial planning is about putting individual income into productive use to generate capital appreciation and fulfill the various needs of individuals. The two broad objectives of financial planning are - Capital appreciation and savings through investments and Risk protection through insurance products. In the Indian psyche, insurance protection always takes a back seat and is considered more as an unwanted expense than a necessity. Insurance is an important financial risk transfer tool. The risk is being transferred from the insured to the insurer on the payment of consideration called as the premium. In India, due to lesser awareness levels and education on insurance, the sector has not seen the desired results. The assets of individuals are left unprotected. Also, the sector had not been able to reach its potential as custodian of funds for national development and protection of assets. But things are changing in India as well. The government initiatives in terms of providing protection to the uninsured population for life, health and crops are steps to improve insurance coverage and penetration levels. However, creating more awareness at the individual level and designing products keeping in view the needs for protection of the general population is very important. This paper discusses the broad contours of financial planning and how the insurance industry is doing in catering to the protection needs of individuals. [ABSTRACT FROM AUTHOR]

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This paper attempts to examine investor perceptions of SIP and how SIP can gain and increase investor income. The research is carried out using the following SIP Axis Bluechip Fund, DSP Equity Fund, ICICI Prudential Bluechip Fund,Edelweiss Large cap fund and Kotak Bluechip Funds. The mutual fund is a vehicle for diversifying one's portfolio of assets. People tend to concentrate on low- risk investments like PPF, bank deposits, insurance policies, and real estate. However, relying too heavily on fixed income investments is just as risky as investing in stocks. For them, investing in mutual funds is a safer choice. SIP is the best choice for those who want to make daily long-term investments. SIP investments are flexible because investors can choose to stop investing in a plan at any time or may choose to increase or decrease the investment amount. SIP is usually recommended to retail investors who do not have the resources to pursue the active investment. From the research it is understood that people are aware about the tax benefits from investing in SIP. Also to create greater investors awareness about the various schemes offered by the fund house, the fund house should invest in advertisement. [ABSTRACT FROM AUTHOR]

Objectives: Understanding past trends and forecasting future changes in health spending is vital for planning and reducing reliance on out-of-pocket (OOP) expenses. The current study analyzed health expenditure patterns in India and forecasted future trends and patterns until 2035. Methods: Data on health expenditure in India from 2000 to 2019 was collected from the Organisation for Economic Co-operation and Development (OECD) iLibrary and National Health Accounts 2019 databases. Gross domestic product (GDP) data from the World Bank was also utilized. Descriptive statistics analyzed the composition and pattern, while the exponential smoothing model forecasted future health expenditures. Results: The findings revealed that expenditure made by OOP is the primary health financing source, followed by government and pre-paid private spending. The percentage of GDP allocated to total health expenditure remains stable, while the per capita health expenditure fluctuates. Variations in expenditure among states are observed, with Karnataka relying heavily on pre-paid private coverage. Future projections suggest a decline in per capita and total health expenditure as a share of GDP, with a slight increase in the government's share. Pre-paid private expenditure per capita and OOP health expenditure as a share of the total is projected to remain relatively constant but still high in absolute terms. Conclusion: The study highlights variations in health spending in India, characterized by high OOP spending, limited public coverage, and a need for investments, and reforms to improve healthcare access and equity. [ABSTRACT FROM AUTHOR]

Background: India demonetized the currency in November 2016, scrapping 86.9 percent of the currency in circulation. This policy disrupted most economic activities because India was predominantly a cash economy. Purpose: The study aims to analyze the impact of demonetization on the informal-formal sector and the Indian stock markets, where investment reflects investors' confidence. Another purpose is to know the usefulness of demonetization in the proliferation of digitalization. Study design/methodology/approach: The study incorporates primary data to determine the impact on informal and formal workers' income and the acceptance of digitalization in rural-urban areas in Faridabad, Haryana. A survey was conducted, and samples for informal-formal workers and rural-urban households were collected and analyzed using the F test and the ANOVA model using an independent dummy or qualitative variables. The secondary data of the Indian stock market were empirically tested and forecasted using the Autoregressive Conditional Heteroskedasticity (ARCH) model. Finding/Conclusions: The empirical analysis reveals that after demonetization, informal workers' earnings dropped significantly, and there is a substantial income disparity between informal-formal workers. A wide gap persists in adopting digital transactions due to low awareness of digital instruments in rural areas compared to urban areas. On the contrary, no significant impact is noticed in the Indian stock market as the forecasted value of shares trading depicts positive growth. The study identifies the gaps in policy implementation. It exposes the implementation of macroeconomic policies ensuring the protection of the interest and livelihood of economically vulnerable populations. The spread of awareness towards electronic transactions may help to promote digitalization Limitations/future research: The study is limited to a few areas. Hence, the scope of future research rests on macro-level data where comparison could be conducted between rural and urban areas across various states in India. [ABSTRACT FROM AUTHOR]

Purpose: The primary objective of the present study is to figure out the relative effectiveness of alternate public expenditure with regard to agricultural development particularly in the context of input subsidies vis-a-vis investment. Besides, the authors also endeavour to test the applicability of crowding-out hypothesis in the present context. Design/methodology/approach: Initially, unit root tests are applied for checking stationarity of the underlying data using Augmented Dickey-Fuller (ADF) and Kwiatkowski–Phillips–Schmidt–Shin (KPSS) tests. Further, the highly celebrated autoregressive distributive lag (ARDL) model is applied on annual time series data for the period 1991–2020 to investigate the long-run and short-run impact of the said relationship. Findings: The authors observe that public investment is more productive than input subsidies for overall agricultural development. Besides, the findings document the existence of crowding-in hypothesis, i.e. complementarity between public investment and private investment in case of the agricultural sector in India. Research limitations/implications: The outcome of the research recommends to reprioritize state expenditure and reformulate agricultural policy regarding the public financing of agriculture. More to invest and less to subsidize seems a better policy intervention to achieve desirable outcomes from the Indian agriculture in the long run. Originality/value: This study is novel in the sense that the subsidies vs investment debate is revisited in the current scenario of agricultural development so that resource allocation be optimized. To ensure robustness of the study, the authors specifically took four proxies of agricultural development, namely, productivity growth, private investment, food security and farmers' income. [ABSTRACT FROM AUTHOR]

India has the highest global burden of tuberculosis (TB), accounting for a quarter of the worldwide TB disease incidence. Given the magnitude of India's epidemic, TB has enormous economic implications. Indeed, the majority of individuals with TB disease are in their prime years of economic productivity. Absenteeism and employee turnover due to TB have economic ramifications for employers. Furthermore, TB can easily spread in the workplace and compound the economic impact. Employers who fund workplace, community, or national TB initiatives stand to gain directly and also enjoy reputational benefits, which are important in the era of socially conscious investing. Corporate social responsibility laws in India and tax incentives can be leveraged to bring the logistical networks, reach, and innovative spirit of the private sector to bear on India's formidable TB epidemic. In this perspective piece, we explore the economic impacts of TB; opportunities for and benefits from businesses contributing to TB elimination efforts; and strategies to enlist India's corporate sector in the fight against TB. [ABSTRACT FROM AUTHOR]

Fintech allows investors to explore previously unavailable investment opportunities; it provides new return opportunities while also introducing new risks. The aim of this study is to investigate the relationship between risk and return in the fintech industry in the Indian stock market. This article is based on market-based research that focuses on demonstrating the volatility in the fintech market's prices and demystifying the opportunities. Secondary data were collected from the Bombay Stock Exchange's official fintech industry website from January 2017 to July 2022 to determine whether there is any dynamic link between risk and return in the Indian fintech market. The variance-based Mean-GARCH (GARCH-M) model was used to determine whether there is a dynamic link between risk and return in the Indian fintech market. The findings emphasize the importance of taking the risk of investing in India's fintech industry. The implications for stock investors' and fund managers' portfolio composition and holding periods of equities or market exposure are significant. Finally, depending on their investment horizons, the Indian fintech industry may yield significant profits for risk-taking individuals. [ABSTRACT FROM AUTHOR]

Education is a powerful weapon and an essential component of the social sector. Education can change the social stigmas attached to society through the process of learning. It has an ancient tradition in India, and the ancient roots of education in India can be traced back to the times of the Vedas, from 1500 to 500 BC. Education expenditure has been regarded as an asset because it acts as an investment in human capital. The increasing demand for education in India, coupled with a lack of public expenditure on education, has been resulting in increasing private expenditure on education, which in turn has far-reaching consequences for access and affordability to education. In developing countries like India, since its independence, the government of India has given more importance to education and educational sectors to uplift its people. The future of the budding generations around the world is dependent on education and educational bits of knowledge. In the present study, an attempt is made to analyze the government's expenditure on education in different states of India. In the state of Karnataka, it is found that the per capita expenditure on education gradually increased, but after some years, the expenditure pace changed and increased rapidly. The per capita expenditure on education in states like Sikkim, Goa, Arunachal Pradesh, Nagaland, Uttarakhand, and NCT Delhi has been higher compared to the lowest expenditure states like Bihar, Jharkhand, Telangana, and Madhya Pradesh. The study found a noticeable regional imbalance among the Indian states in per capita expenditure on education has been found, but the trend remains the same over the years. [ABSTRACT FROM AUTHOR]

This article examines the political economy of health inequalities and inequities in the public health care system in India and identifies potential areas for interventions to promote equal and equitable health care for marginalized people. Drawing on the Political Economy of Health Model of Research, this article reiterates the inadequacy of policy frameworks and programs in ensuring accessible, affordable, and quality public health care services to all. We argue that for policies to be successful, policymakers should consider the diverse social registries of class, caste, religion, gender, region, ethnicity, and age, as well as their intersections. We also argue that health care policies and programs need to be: (a) dynamic and flexible, (b) intersectional and backed up by sufficient grassroots research, and (c) equitable at every stage of policy formulation, implementation, and evaluation. [ABSTRACT FROM AUTHOR]