Search

Carbon mitigation and net-zero targets have an important place on the political agenda for all countries. Countries have been seeking to decouple economic growth and carbon emissions to achieve decarbonization. However, there is a cost of the decarbonization of economies, which can be called as Green Sacrifice Ratio (GSR), and this is critical for developing countries because they have been in the growing stage. By considering the critical role of GSR in achieving net-zero emissions by decarbonizing economies, the study comparatively examines how much environmental quality should be sacrificed for per capita economic growth in China and India. In line with this purpose, the study uses the Fourier-Shin cointegration test and various time series estimators with Fourier approximations for the period from 1989/Q1 to 2022/Q4. Estimation results are as follows: (i) all variables follow the non-stationary process, (ii) the long-run relationship exists between variables, and (iii) Estimation results show that GSR is 0.65% for China and 0.78% for India. Therefore, China and India sacrifice a significant amount of environmental quality for a 1% increase in per capita income level. Also, the ecological cost of increasing economic welfare in India is higher with regard to China. Besides, the results are robust according to the alternative method. Thus, the study recommends that both Chinese and Indian policymakers should revise the economic expansion structure with green growth strategies to prevent irreversible environmental degradation due to higher economic growth. [ABSTRACT FROM AUTHOR]

The current research project investigates the correlation between economic growth, government spending, and public revenue in seventeen Indian states spanning the years 1990 to 2020. An analysis of the relationship between key fiscal policy variables and economic growth was conducted utilising a panel data approach, the Generalised Method of Moments (GMM), and fully modified Ordinary Least Squares (FMOLS & DOLS) estimation. In our investigation, we assessed the impacts of non-tax revenue, development plan expenditure, tax revenue, and development non-plan expenditure on (i) the net state domestic product (NSDP) and (ii) the NSDP per capita. The findings indicate that the selected fiscal variables are significantly related. The results indicate that expeditious expansion of the fiscal sector is obligatory to stimulate economic growth in India and advance the actual development of the economies of these states. [ABSTRACT FROM AUTHOR]

The paper explores the complex interplay between economic development and environmental sustainability in the context of India's pursuit of the Sustainable Development Goals (SDGs). It examines the inherent contradictions and trade-offs involved, particularly in agriculture, industrialisation, and infrastructure sectors. The paper highlights how economic growth, essential for improving living standards, often conflicts with environmental objectives. The paper underscores the importance of integrating economic, environmental, and social objectives to achieve a sustainable and inclusive future for India. [ABSTRACT FROM AUTHOR]

• During 1993–2018, market services grew at a faster rate than non-market services. • Applying Domar weights we observed that transport and storage was the highest contributor among market services industries, while public administration has made relatively higher contribution to aggregate non-market services TFP growth. • TFP growth in manufacturing has a significant positive effect on TFP growth of both market services and non-market services. • Market services TFP growth is positively impacted by a spillover effect of TFP growth in India's trade partners. The services have been the driver of India's overall growth since the onset of economic reforms in the 1990s. The value-added share of services increased from 41 percent in 1990 to 53 percent in 2018. On average, the sector grew at 7.5 percent annually during 1993–2018, contributing to about half of the aggregate economic growth. Using the India KLEMS data, we examine the trends in total factor productivity (TFP) in individual industries within services and their contribution to aggregate TFP growth in the sector during 1993–2018. We find that transport and storage was the highest contributor among various market services industries followed by financial services, while public administration made a relatively high contribution to aggregate non-market services TFP growth. Moreover, we investigate the factors driving TFP growth in the services sector, particularly the role of manufacturing TFP – looking into spillover effect from manufacturing to market services and non-market services. Our results suggest that TFP growth in manufacturing had a significant positive impact on TFP growth in the services sector. Also, we find evidence of significant productivity spillover effect to India's services sector from other countries, particularly the developed countries. [ABSTRACT FROM AUTHOR]

The outcome of economic growth is visualised as the well-being of citizens or human well-being (HWB). However, it has been a great challenge to measure HWB. Though there are known reasons for considering GDP and its growth as a measure of overall development and progress of nations, yet mostly it is being used as a gospel indicator to compare nations and design appropriate policies. This paper is an effort to develop a comprehensive adjusted GDP to measure HWB through secondary data for thirty years (1990–91 to 2019–20) in India. We make thirty-five adjustments to net national income (NNI) to compute the adjusted national income (ANI) index based on the system analysis approach. The empirical findings show that the gap between NNI and ANI has been growing over time, and the ANI index shows an increasing trend. Through the analysis it is suggested that economic growth should be focused only if it improves HWB (full or partial). The paper attempts to make intervention into policy shift for improving HWB vis-à-vis happiness of people. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to empirically analyze the impact of remittance inflows on sustained economic growth in India. Design/methodology/approach: This study has taken a time series dataset for the period of 1976–2021, and a nonlinear autoregressive distributed lag model technique (NARDL) has been applied to check the impact of remittance inflows along with other control variables, including broad money and service sector performance, on the sustained economic growth of India. Findings: The results of the study indicated that in both the short and long runs, any positive shock in remittance inflows has a positive impact on the economic growth of India, while negative shocks do not affect economic growth. Practical implications: The economic policymakers of India can use the findings of the study by implementing remittance-friendly policies. Moreover, NITI Aayog, the body working toward achieving sustainable development goals (SDGs) in India, can also use this study as a reference while making strategies to achieve SDG. Originality/value: Economic growth has always been an area of interest among economists, researchers and policymakers. However, achieving sustained economic growth requires an analysis of those factors that themselves have sustained performance over a long period of time and have the potential to sustain it over the upcoming years. This study has taken remittance inflows as one such factor and investigated its impact on the sustained economic growth of India. At present, there is an evident gap in the literature that very little attention has been given to sustained Indian economic growth. Moreover, there is no study available in which the nonlinear impact of different variables has been tested on the economic growth of India. [ABSTRACT FROM AUTHOR]

Subcontracting relations have often been considered a key channel to facilitate growth in traditional informal enterprises and enable them to transition into larger, modern enterprises. Such relations are expected to strengthen with economic growth. Using nationally representative survey data for the Indian informal manufacturing sector, this article examines the nature and patterns of subcontracting linkages for informal family‐based household enterprises over the high‐growth period of 2001–2016. The article estimates the net accumulation fund (NAF) for these enterprises, which measures their ability to accumulate, and studies the transition possibilities of subcontracted enterprises over time. Results show that the NAFs of subcontracted enterprises remained much lower than those of non‐subcontracted ones, with the disparity growing over the growth period. A vast majority of subcontracted household enterprises are embedded in relations that are akin to a traditional putting‐out system, with little control over their production processes. Female‐owned enterprises and those located within the household are more likely to be in such put‐out relations. Average NAF for put‐out household enterprises has been lower than for relatively autonomous subcontracted and non‐subcontracted firms, although over time the gap in NAF between put‐out and non‐put‐out firms, and thus their differential ability to transition, has narrowed. The prevailing nature of subcontracting relations in India's informal economy, even during the peak growth period, appears to be starkly different from the dynamic linkages that are celebrated in the literature as a channel for facilitating growth and transition. [ABSTRACT FROM AUTHOR]

This paper aims to investigate the interactions between CO2 emissions, economic growth and energy consumption in India for 1970– 2017 within the time–frequency domain using wavelet techniques. The results show that the interaction between energy consumption and CO2 emissions is strong and varies significantly across time– frequency bands, indicating that the energy consumption leads to environmental degradation. The negative effect of economic growth on CO2 emissions is only statistically significant in the short run. In addition, the findings reveal a positive association between economic growth and energy consumption across time– frequency bands, demonstrating energy consumption increases economic growth, which in turn heightens the CO2 emissions. There should be improved energy use and reduced CO2 emissions. [ABSTRACT FROM AUTHOR]

Globally, science, technology and innovation are gaining prominence. Research and development (R&D) is India’s main driving force for sustainable economic growth. The ‘Make in India’ (MII) initiative by the Government of India (GoI) motivates the Indian manufacturing sector with aim to make India a global centre for manufacturing via foreign investors. In this regard, India became a hub for foreign investors with a 76% rise in the foreign direct investment (FDI) equity inflow of the manufacturing sector from financial year (FY) 2020–21 (USD 12.09 billion) to FY 2021–22. One of the key objectives of MII is job creation and skill enhancement in the country. In this context, the Department of Science and Technology, GoI, continuously contributes to improving the science and technology infrastructure through several funding programmes. This note provides a brief overview of the achievements of MII and its scope in scientific R&D. [ABSTRACT FROM AUTHOR]

This paper reviews the economic policies adopted by the Indian government under different policy regimes, provides a political economy perspective of economic growth in the country during 1950–2020 and examines the inclusiveness of the rapid economic growth in recent decades. The growth performance of the economy improved as the economy moved from inward-looking policy regime to the regimes of pro-business and pro-market policies. India's political economy was supportive of the changes in policy regime. After growing at a sluggish rate during the first three decades after 1950–1951, the gross domestic product (GDP) growth accelerated significantly after the pro-business reforms in the 1980s, and there was further acceleration after the pro-market reforms since 1991–1992. It has, however, slowed down in recent years. Nevertheless, it has not been inclusive, as the benefits of growth have not reached all sections of the population and all regions of the country equally. On the contrary, disparities in income across regions and inequalities in income, wealth and consumption among individuals have exacerbated, and the problems of unemployment and poverty have been persisting in the economy. [ABSTRACT FROM AUTHOR]

This article seeks to investigate the impact of the volatility of the external debt burden on the economic growth of India. The MS (Markov - Switching) - GARCH model is the cornerstone in studying the effects of external debt on the economic growth that is simulated herein. This article applies a MS - GARCH model that allows not only unobserved variables within an observed model but also uses a robust algorithm to reach strong optimization (convergence) through iteration in a dynamic system in the estimation procedure. This article considers the period from Q2 2004 to Q4 2022 with 74 sample observations. Considering various crises like the global financial crisis, the Euro crisis, and the COVID-19 pandemic that occurred during the study period, the results identify two regimes based on conditional volatility. One is the global financial recession period (regime-1) and another is the post-global financial recession period (regime-2). The findings show that the conditional volatility as well as the variance in the volatility of economic growth due to the external debt of India is much stronger in the global financial recession period (regime-1) than in the postglobal financial recession period (regime-2). It implies that the Euro crisis and the COVID-19 pandemic are having less impact on external debts in India. The transition matrix indicates the greater probability of the economic growth rate settling down in regime 2 when it is already in regime 2, as it is considered to be a much calmer period. Finally, the results of the stable probabilities suggest that the economic growth rate of India is much more stable in regime 2 than in regime 1. This article puts forward relevant policy implications for coming out from the debt overhang scenario in India. [ABSTRACT FROM AUTHOR]

India is one of the most important emerging economies of the present historical moment. Thanks to its geographic and demographic extension, it is one of the countries with the greatest prospects for economic growth, but such growth has been hindered by high levels of poverty, inequalities and social vulnerabilities, falls in GDP and low human development indexes, in addition to the constant political tensions that have arisen since its independence. Today, it has gone from being an economy that privileged agriculture to a market economy, with a strong presence in the provision of services, with tendencies to strengthen relations with the European Union, Japan, the United States, Australia and Latin America. Future prospects include GDP growth, population growth, poverty reduction and a better position in relation to global economies. The method used for the elaboration of the research is of the analytical-descriptive type, it is concluded in the relevance of India within the present geopolitical scenario, in its vital presence for the provision of services, for commercial activity and for the strengthening of multilateral cooperation, with strong presence of Indian labor throughout the world. [ABSTRACT FROM AUTHOR]

This study investigates the association among economic growth, sustainable energy consumption and carbon emission with additional variables including fossil fuel energy consumption, natural gas and trade openness. The annual time‐series data from 1972 to 2019 is analysed using an auto‐regressive distributive lag model. Moreover, the novelty and robustness of the model are verified using dynamic ordinary least squares, and fully modified ordinary least squares. The results specify that except carbon emission model equation, there is co‐integration exists among variables. In terms of the outcomes in the long term, the consumption of fossil fuels has a notable impact on economic growth and natural gas, whereas the consumption of sustainable energy has a detrimental effect on economic growth. Interestingly, in the short run, sustainable energy consumption positively links with trade openness and economic growth. Furthermore, the VECM‐based Granger Causality detects a one‐way causal linkage of fossil fuel consumption, trade openness, carbon emissions and natural gas with economic growth. A bidirectional causality exists from carbon emission to fossil fuel consumption, suggesting a feedback hypothesis. The study provides a comprehensive understanding of the underlying variables. The policymakers can make decisions for the efficient functioning of energy markets, enhanced production of energy‐from‐waste material and environmental enforcement in India related to air pollution should be strengthened. [ABSTRACT FROM AUTHOR]

We construct a cohort-based frailty index from age-related health deficits to investigate physiological aging in India over the period 1990-2019. During this period, the Indian states underwent at different speeds the epidemiological transition and experienced unprecedented economic growth. We show that the rate of physiological aging remained remarkably stable to the changing environment. Age-related health deficits increased by about 3 percent per year of age with little variation across states, ages, cohorts, and over time. We find that, with advancing epidemiological transition, health deficits for given age declined at the individual level (within states and within cohorts). Across cohorts born between 1900 and 1995, we show that, for given age, health deficits are higher for later-born cohorts until birth years around 1940 and remained trendless afterwards. We propose a selection-based theory of aging during the epidemiological transition that explains these facts. [ABSTRACT FROM AUTHOR]

Objective/Context: In this interview, I propose a journey through the intellectual trajectory of Jairus Banaji. It focuses on different aspects comprising the study of the history of capitalism from a Marxist perspective, delving into the expansion of the monetary economy in the late Roman Empire, the economic dynamism of the Islamic world in medieval times, and the role played by merchants and traders in the emergence of capitalism. Originality: Although Banaji’s contributions to the debate that developed in India on “the transition” from feudalism to capitalism were remarkable, his work is little known in Latin America due to the scarcity of translations of his main works. Conclusions. This interview attempts to outline a synthesis of his intellectual biography, which stems from generating a cross-dialogue between his work and the currents of thought that took place in the Latin American region and that, in many cases, influenced and inspired his own work. [ABSTRACT FROM AUTHOR]

This study aims to investigate the impact of eco‐friendly technology on environmental degradation indicated using the load capacity factor (LCF) with the framework of the Load Capacity Curve (LCC) hypothesis. In this regard, an environmental degradation function is formed and analyzed using the Augmented Autoregressive Distributed Lag (AARDL) approach during the period spanning from 1975 to 2021 for India. The outcome indicates that eco‐friendly technology reduces the LCF, thereby fostering environmental degradation in the long run, but the relationship is not significant in the short run. Further, an N‐shaped LCC hypothesis has been observed in both long and short runs. Besides, energy consumption exhibits a LCF reducing or environmental degradation boosting role in the short run and long run. These findings are consistent with other models that are used to check the robustness of AARDL‐based results. Thus, the study recommends policies for promoting eco‐friendly technology, judicious economic growth, and cautious energy consumption to attain sustainable development by increasing the LCF in India. [ABSTRACT FROM AUTHOR]

A recent development in tourism is ecotourism. It is one of the tourism industry's fastest-growing subsectors. Ecotourism refers to any type of tourism that is focused on nature, has a little impact on the environment, includes locals in its planning and execution, and emphasises the importance of educating visitors. Ecotourism is distinct from other types of tourism because it is reliant on the maintenance of natural ecosystems so that they, and the cultural values they represent, can be experienced and appreciated by visitors. Many nations have come to rely on ecotourism as a major source of revenue. Ecotourism's ability to foster both economic growth and environmental protection in poor nations is exciting. This article will highlight the vast potential of Ecotourism in India by examining a few of the country's most popular Eco-tourism destinations. The present study also explores the emergence of ecotourism as an economic reader and the use of ecotourism as a tool for balancing environmental issues and sustainable development. This paper also includes a discussion of the government's efforts to promote ecotourism as a means of addressing modern environmental problems, as well as the results of a few studies of India's most popular ecotourism destinations. [ABSTRACT FROM AUTHOR]

Several studies have shown that some nanoparticles possess peroxidase mimetic activity and their unique advantages have increased their prospects in the biotechnological industries. Despite the extensive works on nanoparticles with peroxidase mimetic activities, untill date, no study has reported the mapping of researches conducted on the subject over the years. Literature on nanoparticles with peroxidase activity from 2010 to 2019 was retrieved from the Web of Science Core Collection and analyzed with bibliometrix in Rstudio software. A total number of 335 research articles from 2010 to 2019 across 121 different sources/journals were analyzed. An increase in the annual research productivity was observed over the years and the most productive authors were Chen, W (n = 16), Xia, XH (n = 12) and Liu, AL (n = 11). The authors' distribution agrees with Lotka's law. The top three most relevant sources were Microchimica Acta (n = 37), Sensors and Actuators B Chemicals (n = 27), and RSC Advances (n = 16); while the top three most cited sources were Analytical Chemistry (n = 744), Biosensors and Bioelectronics (n = 723), and Chemical Communications (n = 616). China had the highest and most significant number of publications (n = 437); they are followed by India (n = 57) and Iran (n = 34) in a distant second and third place respectively. Several countries were isolated from the collaboration network; this gap should be narrowed to enhance research productivity, improve disease diagnosis, knowledge transfer and economic growth. [ABSTRACT FROM AUTHOR]

The re-assessment of energy – economy nexus in developing economies like India is necessitated by the constant evolution of their growth path and sectoral progression. This sectoral level examination is intended to find new evidence for the dependence of economic growth on the electricity sector in India. Using annual data of per capita real GDP and sectoral level consumption of electricity from 1971 to 2019, the combined co-integration test and Frequency domain causality approaches are employed. The estimated results show the negative impact of agricultural sector electricity consumption on growth, whereas both the Industrial and service sector enhances the production. In addition, the results of the Frequency domain causality approach support the Growth hypothesis for the study period in India, as Uni-directional causality from three sectors to economic growth were found at least in a frequency of short run to medium run. The sustainability of the growth-enhancing role of electricity consumption will depend on more sector-specific energy policies and public spending on energy infrastructure development than bland subsidies. [ABSTRACT FROM AUTHOR]

With an increasing demand for ocean resources to fulfil the needs of an ever growing population, humanity has been pushed to utilise the ocean resources. To be successful in these efforts, they have been pushing technological development which in turn has increased the demand for power as most of these developments are power hungry. However, with the present power generation knowledge confined to fossil-fuel, achieving sustainability has been limited and a challenge to achieve. To overcome this limitation and to harness the full potential of the ocean-based Blue Economy, countries around the world, including India, are making concerted efforts to develop sustainable technologies to generate usable power from ocean-energy. Accordingly, the options available for utilising ocean-based renewable energy technologies to sustainably power growth through economic activities in the marine and coastal domain while being a meaningful contributor to the blue economic growth is discussed. In doing so, a global perspective of the status of the Blue Economy of marine renewable energy technologies with a focus on the opportunities for India has been provided. The article concludes with some suggestions of future developments for developing countries like India to meet the targets of powering their Blue Economy. [ABSTRACT FROM AUTHOR]

This study analyses the dynamics of consumption inequality among various occupational groups using household survey data from National Sample Survey (NSS). Three rounds of NSS data namely, the 50th (1993–1994), 61st (2004–2005), and 66th (2009–2010) were taken for the purpose of analysis. Various measures such as Gini coefficient, overlapping index, and raking matrices are estimated for the whole as well as the subgroups using ANOGI methodology. From the analysis, it is found that the level of overall inequality as well as the between‐group inequality is on the rise during the period of analysis. Further, the measures such as relative overlap index and ranking matrices give conclusive evidence that the difference between various groups in terms of consumption expenditure pattern is increasing over time. From the ranking matrices, it is seen that the last six groups, constituting households with occupation in the unorganized sector and low level organized workers falls below the 30th percentile of consumption expenditure distribution of the first group groups that consists of individuals holding to technical, administrative, managerial, and executive occupations. Worsening inequality across various occupational groups is a matter of concern, especially from the policy perspective. As economic growth without equitable distribution of income is not a desirable outcome. [ABSTRACT FROM AUTHOR]

Green growth plays a vital role in ensuring sustainable development. Managing economic growth without disrupting the environment is considered the need of the present time. Therefore, the empirics have turned their attention toward finding the determinants of green growth. Hence, we aim to investigate the impact of income inequality on green growth in BRICS economies from 1993 to 2020. Findings of the panel autoregressive distributed lag (ARDL) model confirm that the long-run estimate attached to GINI is negatively significant, implying that higher inequality in the BRICS economies lowers the rate of green growth. The country-wise results highlighted the negative impact of GINI on green growth in India and China only and insignificant in other countries. In the short run, the estimates are inconclusive and mixed, be it group-wise or individual estimates. Our findings imply that the target of lower inequality and environmental sustainability can be achieved simultaneously. [ABSTRACT FROM AUTHOR]

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]

The article describes the development of India since its independence in 1947. Despite challenges such as a large population and a hierarchical caste system, India has emerged as an emerging country. It has experienced strong economic growth and is predicted to become a future major power. In terms of foreign policy, India has had historical border conflicts with Pakistan and China, as well as the aspiration to be a regional power in the Indian Ocean. India has formed various international alliances and faces challenges such as population growth, inequality, poverty, and climate change. [Extracted from the article]

Against the backdrop of socio-economic crisis and declining role of the state in infrastructure development, this article evaluates the inter-district disparities in social infrastructure (SI) and physical infrastructure (PI), and consequently attempts to examine the impact of SI and PI on economic growth in Punjab at two points in time, that is, 2004–2005 and 2016–2017. For this purpose, a district level social infrastructure index (SII) and a district level physical infrastructure index (PII) encapsulating 12 and 10 indicators, respectively, have been computed employing principal component analysis. The findings of the study revealed that PI acts as a pivotal catalyst to accelerate economic growth, whereas SI does not demonstrate any significant association with economic growth in Punjab. Furthermore, it is observed that pervasive inter-district disparities exist in SI and PI development and the majority of the districts depict a gloomy picture of infrastructure development in Punjab. [ABSTRACT FROM AUTHOR]

Cities are the engines of economic growth, drivers of structural and spatial transformation processes, and the generators of wealth. However, city finances in India are in an abysmal state, and its urban local bodies are progressively losing fiscal autonomy. The problem is deeply rooted in the hierarchy set up defined as per the fiscal federalism framework adopted by the nation. The objective of the paper is to critically review India's federalism, discuss its prevailing expenditure‐revenue assignment framework, and analyse the key issues in fiscal decentralization. This paper overviews the entire public finance system in India, brings out the anomalies in expenditure and revenue assignments between the higher levels of government and the urban local bodies, and addresses the areas of concerns at the urban local government level. It also suggests policy measures to put Indian urban local bodies on a strong footing in the public finance map of India. [ABSTRACT FROM AUTHOR]

The present study examines the dynamic linkage between financial development and economic growth by taking saving as an intermediary variable in the case of India using annual data from 1970 to 2018. The result indicates the existence of long‐run cointegrating relationship between financial development economic growth. Result from the long run granger causality test reveals unidirectional causal flow from economic growth, savings (both total and private savings) and financial development. On the other hand, financial development also causes economic growth but not through savings. The short‐run causality test results show that economic growth granger causes financial development, but there is no causal flow from financial development to economic growth. Economic growth Granger causes savings (both domestic and private savings) but the savings does not cause economic growth. Bidirectional causalities run from financial development to savings and vice versa. The study concludes that savings can be taken as an important intermediary to run tri‐variate financial‐growth nexus. [ABSTRACT FROM AUTHOR]

House price is a key macroeconomic variable that affects decisions made by many economic agents. This article attempts to examine whether uncertainty or fluctuations in house price affects major macroeconomic variables in the Indian context. It investigates the long‐run effect of house price volatility on inflation (INF) and economic growth (EG) by using quarterly time series data for the period 2008–2017. Auto Regressive Distributed Lag (ARDL) bound test is applied to detect the long‐run relationship between the variables, while Granger causality test is applied to detect the direction of causal relationship. The ARDL bound test results confirm the long‐run association of house price with INF and EG. Finally, the empirical findings indicate that the house price positively affects INF though it has no influence on EG. The study suggests that there is a need to discourage house price bubbles in India, which can help to reduce INF. [ABSTRACT FROM AUTHOR]

This paper investigates the association among energy consumption, carbon‐dioxide emission, and India's economic growth along with supplemental variables including foreign direct investment, population density, inflation, and agricultural land. An autoregressive distributive lag model is applied over annual time‐series data from 1985 to 2019. Further, the robustness and novelty of the model are confirmed by applying fully modified ordinary‐least‐square, dynamic ordinary‐least‐square, canonical co‐integrating regression, variance decomposition, and impulse response function. The analysis results indicate that a cointegration association exists among variables. In the short run, the profound determinants of economic development are energy consumption, carbon‐dioxide emission, inflation, and agricultural land. In the long run, both inflation and agricultural land significantly negatively influence economic growth while carbon emission drives a positive impact. Interestingly, a one‐way Granger causality runs from economic growth towards energy consumption, carbon emission, and agricultural land. The new research presents a comprehensive understanding of economic growth indicators, aiding policymakers, and advancing existing literature. Consequently, as a recommendation, the policymakers should constitute explicit goals for renewable energy consumption to stimulate sustainable economic growth with carbon emission reduction. [ABSTRACT FROM AUTHOR]

The development of stock markets in the financial sector has been important. The expansion of stock markets has compelled various researchers to analyze its relationship with the economic process and development of countries. The studies have revealed that the performance of stock markets in a nation has a positive correlation to its economic growth. Bearing this relationship in mind, studies are being undertaken to recognize the elements responsible for stock market development in several nations. The researchers all around the world are trying to better understand determinants so that government establishments can create and target policies that may help the development of stock markets which further helps in economic development of the state. Throughout the past three decades, the global stock markets surged, and emerging markets played a vital role in this boom. Recent researches have begun to concentrate on the linkages between the stock markets and economic development. There has been an extensive analysis of the connection between the stock market and economic growth, but there is a dearth of theoretical empirical proof on what determines stock exchange development. Keeping in view the importance of stock markets in the development of economic development, the researchers in the present study have tried to bring out the factors that play a positive role in the development of stock market. [ABSTRACT FROM AUTHOR]

This paper examines the long run relationship between public debt and economic growth in India for the period 1980–2018 using the autoregressive distributed lag (ARDL) approach. The bounds test results suggest that gross domestic product (GDP) per capita, internal and external public debt, fixed investment and trade openness are cointegrated implying the existence of a long run equilibrium relationship between these variables. We find that both internal and external public debt have significant negative effect on economic growth in the long run whereas, investment has significant positive effect on the growth rate of output per capita. The error‐correction model shows that the long run equilibrium relationship is stable and the adjustment towards equilibrium is relatively high. Our findings suggest that too much reliance on public debt must be discouraged since it has adverse effect on economic growth in the long run. The government should adopt investment‐supportive policies to enhance economic growth of the country. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the convergence in per-capita income (measured as per-capita net state domestic product) of regions in India during the period 1990–1991 to 2017–2018. Two separate analyses have also been done for the sub-periods, i.e., 1990–1991 to 2003–2004 and 2004–2005 to 2017–2018, to find out the effect of the second phase of economic liberalization in India. Design/methodology/approach: In a panel data study, the estimation of absolute and conditional beta (β)-convergence and sigma (σ)-convergence across 17 Indian regions have been done. To measure the dispersion of per-capita income across the regions in India, the standard deviation of logs, Gini coefficient, Mehran measure, Piesch measure, Kakwani measure and Theil index have been estimated. In addition to this, these indices have been regressed over time. Findings: This study finds the presence of absolute and conditional β-convergence; the regions with low initial per-capita income have grown faster than the regions with high initial per-capita income. Further, this study finds that foreign direct investment (FDI) inflow and the availability of power enhance growth across regions. However, this study finds the presence of σ-divergence, which indicates that the economic inequality among the regions in India has widened over the periods, calling for policy interventions to promote growth in the backward regions through the promotion of FDI inflow and the availability of power. Originality/value: This study highlights the rising economic inequality among the regions in India by analyzing the latest available data through appropriate econometric techniques. [ABSTRACT FROM AUTHOR]

The financial growth of the region and the whole country can be broadly indicated by the macroeconomic factors. These factors are "geopolitical, environmental or economic event" by which the monetary stability of the country and its economy is highly influenced. The economic growth of the region shows ups and down due to these macroeconomic factors and this fluctuation can be "inside and outside" of control of the government and their citizen. The events that change the financial outlook of the country including its rural areas are all described the variables known as macroeconomic factors. There is a cyclical pattern that includes economic growth and recession and the people from different professions address these factors to know the finance related policies to maintain their financial stability. The study had reviewed macroeconomic factors in rural development in India and concludes that there are many significant consequences of macroeconomy development for agriculture sector and the main factor that links this sector to global macroeconomy are "exchange rates, international trade, foreign and domestic income, employment, interest rates, and energy costs". The macroeconomic changes at domestic and international level can bring in major shifts in the values of these indicators which in turn alter the agricultural price, production, consumption and trade of the country. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this study is to examine the impact of economic growth, trade openness and manufacturing on CO2 emissions in India. Design/methodology/approach -- The study employed autoregressive distributive lag (ARDL) bounds test approach and uses CO2 emissions, trade, manufacturing and GDP per capita to examine the relationship using an annual time series data from World Development Indicators during 1971 to 2016. Findings -- Results depict that there exists a long-run relationship between CO2 emissions and other variables. Trade openness significantly reduces CO2 emissions, whereas manufacturing and GDP have a significant and positive impact on CO2 in the long run. Research limitations/implications -- The findings of the study contribute to the body of knowledge by providing new evidence on the relationship between developmental metrics and the environment. These findings are critical for policymakers and regulatory bodies to focus on economic development without jeopardizing environmental degradation. Practical implications -- In order to keep its commitment to sustainability, India needs to develop policies that encourage cleaner production methods and establishment of non-polluting industries. Simultaneously, it must disincentivize industries that emit CO2 by policy frameworks such as carbon taxes, pollution taxes or green taxes. Originality/value -- None of studies examine at how these environmental factors interact in India. Kilavuz and Dogan (2020) used the same variables, but their scope was limited to Turkey. As a result, the study is the first to examine this relationship for India, contributing to the body of knowledge on economic growth, manufacturing, trade openness and environmental concerns. [ABSTRACT FROM AUTHOR]

The study makes an attempt to contribute to the ongoing policy debate on whether OFDI has a complementary or substitution effect on domestic investment and hence, growth. For the purpose, the current paper uses panel data analysis to understand the impact of OFDI for 14 emerging economies in the period 1981–2019. We supplement the cross-country evidence with a time series analysis for India, given that FDI outflows from the country have been steadily increasing over the years. The results confirm the positive effect of OFDI on economic growth, but the substitution effect for domestic investment. This indicates that the OFDI positively affects growth through its effect on trade and other positive spillover effect, rather than domestic investment. However, in case of India, the findings support the complementary effect of OFDI on domestic investment. [ABSTRACT FROM AUTHOR]

This study discusses the formation of India's Look East Policy and its impact on India's relations with ASEAN. India's relations with Southeast Asian countries have long been established through various forms. However, in the Cold War era, especially in the 1970s and 1980s, India's relations with the Southeast Asian region were somewhat bleak because India did not place this region as a priority region in its foreign policy. However, the end of the Cold War with the fall of the Soviet Union had forced India to find a new direction in its foreign policy. In this unfavorable Indian economic condition, India is beginning to see the economic growth of ASEAN member countries as something positive for India. Thus, in 1991 the Look East Policy of India was formed with the aim of enhancing relations with its eastern neighbors. This paper discuss the formation and development of this Look East Policy and the importance of ASEAN in that policy. The analysis is done based on historical approaches by examining primary sources such as records of ASEAN organizations, documents from the Indian Ministry of Foreign Affairs, newspapers and secondary sources. The study found that this policy has strengthened India's relationship with ASEAN and further enhanced it to a wider dimension through India's Act East Policy. [ABSTRACT FROM AUTHOR]

The purpose of this article is to explore the nexus between the form and function of government and economic growth in the fragile states of India. To study the dynamics of the directional casual relationship between the government forms and functions and economic growth in Jammu and Kashmir, this study tries to apply the Granger causality test followed by LS multivariate regression analysis on the time series data. The study found that the government functions like resource allocation for asset creation, revenue‐generating capacity, and promoting infrastructure are having a positive and significant impact on economic growth, while law and order are having a significantly negative impact on economic growth in the state. On the other hand, the different government forms, the majoritarian government in the state is suitable for consistent economic growth than coalition and governor's rule. The results found are of amicable use in setting up the smooth growth trajectory of any region through arranging and rearranging political institutions from time to time. [ABSTRACT FROM AUTHOR]

India's textile industry is among the largest in the world and contributes significantly to India's GDP and economic growth. As the second largest total exporter globally after China with more than 45 million workers, India's textile industry has long been the subject of criticism concerning labour exploitation and environmental damage. Since 2016, nevertheless, Narendra Modi's government has started to take a different yet somewhat perplexing approach to introducing and environmentally friendlier and more sustainable direction in its textile industry. This article aims to comprehend the reasons behind India's new policy arguing that—despite such changes—environmental sustainability has not become India's full concern in the textile sector at the moment. Such a shift was part of India's international market expansion strategy towards the European Union market which had imposed non—tariff import restrictions on India's textile products. This article also shows contradictions and tensions in the government's eco—friendly textile policy concerning its high production costs and India's yet dependence on conventional production systems. [ABSTRACT FROM AUTHOR]

This study examines the consequences of droughts on the aggregate economic growth and the growth of agriculture, industry and service sectors respectively. The benefits of financial relief post-drought and the efficacy of irrigation infrastructure is also statistically tested considering a sample of 45 districts in one of the largest states in India, Madhya Pradesh. A two-step GMM procedure is applied to balanced panel data for the period 2005 to 2012. Districts in the state face recurrent droughts, limited irrigation, and rainfall variability increases vulnerability to drought risks. Results show that drought adversely impacts on the growth rate of the agricultural sector and the aggregate economy. Post-drought financial relief has a positive and significant impact on the growth rate of the industrial sector and economic growth at the district level. The study contributes to the growing literature on disaster impact on growth by focusing on district-level assessment. [ABSTRACT FROM AUTHOR]

India is one of the fastest growing nations in the world with ample scope for renewable energy. Nevertheless, challenges in expansion of renewable energy consumption have resulted in pollutant emissions continuing to be a noteworthy environmental concern in India. This paper investigates the relationship between energy consumption, CO2 emissions, Gross Domestic Product (GDP), and international tourist arrivals in India during 1991-2018, using the Autoregressive Distributed Lag and Vector Error Correction Model frameworks. This study extends the Indian literature on economic growth, energy consumption, and pollutant emissions nexus by including tourism, an energy-intensive industry in the model specification. Results reveal that energy consumption and tourism positively contribute to CO2 emissions. A long-run unidirectional causality running from energy consumption, GDP, GDP2, and tourist arrivals towards CO2 emissions is observed. Our results suggest that sustainable tourism, energy consumption, and economic growth should be at the forefront of the economic development agenda of India. [ABSTRACT FROM AUTHOR]

The basic characteristics are outlined of the UN's Gender Inequality Index (GII) and its Gender Development Index (GDI). Their trends in relation to India's real Gross National Income (GNI) per capita indicate a decline in its gender inequality with its economic growth. However, these trends give a distorted and incomplete picture of changes in Indian gender inequality. Several assumptions underlying GII and GDI are questioned in the Indian context, for example, within India more education of females is not associated with a reduced wage gap between males and females, and greater access of females to the labour market can raise gender inequality. The effects of economic growth (absent in the above indices) are assessed on Indian male–female ratios and on violence against women. Variations in gender inequality in India within households are also considered. New data results in the questioning of several existing hypotheses. [ABSTRACT FROM AUTHOR]

In the present globalization economic world, exchange rate plays a major role in every country's economic activity. Here, exchange rate policy has been identified as one of the endogenous factors that can affect the economic performance of a nation. Exchange rate plays a key role in international economic transactions because no nation can remain in isolation due to varying factor endowment. Movements in the exchange rate have ripple effects on other economic growth. The study used secondary data that were collected from the World Development Indicators data base and analysed. The study used the ordinary least square and VECM Granger Causality method of estimation for data covered the period from 1990 to 2017. The results from the econometric analyses show that there is a short‐run relationship between exchange rate, inflation rate, interest rate and GDP. The result obtained from the unit root analysis indicates that least one time series variable property is stationary. The study concludes that in India, the factors that influence the level of growth rate are extent of exchange rate and its variables. Based on the findings, from the Granger causality investigation procedure at 5% critical value are EXCH, INT, INF, IMP and EXP among other variables that affect economic growth. The study recommends the need to be technologically inclined in all sectors of Indian economy; excess and over budgetary inflation and implementation should be cut to barest minimal level to avert the ideal of external borrowing which most consequently result in external debt and services. The Indian government should show the path of redirecting its investment profile by channelling it towards capital projects of the government. [ABSTRACT FROM AUTHOR]

Theories of economic growth based on Western Europe are inadequate when applied to India because the two areas are incommensurate in their geographies and their resources. Because its initial conditions were different from those in, say, Europe and North America, India could arrive at economic growth only by solving different problems—preeminent among them being reliable access to clean water. The actions taken by the state, scientists, and society since 1880 in India weakened the chains that linked water insecurity, low yield, mass mortality, and caste-biased mortality but at the inevitable cost of ecological stress. In a tropical-monsoon climate, where well-being and the environment were constantly in flux, asking deprived individuals to consume less or cooperate more was not necessarily the best response to water problems. Science and capitalism provided better solutions. [ABSTRACT FROM AUTHOR]

For India, achieving environmental sustainability in the midst of faster growth remains a challenging objective. Therefore, we are revisiting the nature of the Environmental Kuznets Curve (EKC) at different stages of economic growth through both necessary and sufficient conditions under the cubic model specifications in India. Further, we extend the EKC framework by incorporating energy consumption, agricultural value added, trade, the world uncertainty index, and geopolitical risk as additional variables into the three preferred disaggregated greenhouse gas emission (GHG) models. This study employs an auto-regressive distributed lag model (ARDL). The empirical findings show evidence of the valid N-shaped EKC through both necessary and sufficient conditions for carbon dioxide (CO 2) and nitrous oxide (N 2 O) and exhibit the presence of two real and distinct income turning points for both valid EKCs. In contrast, only the necessary condition supports the N-shaped EKC for methane (CH 4) emissions in India. Further, the results highlight that trade has a positive impact, whereas the world uncertainty index has a negative impact on disaggregated GHGs. Similarly, geopolitical risk has a negative effect on CH 4 and N 2 O, whereas energy consumption has a positive impact on CO 2 emissions. Moreover, agricultural value added has a negative effect on CH 4 and a positive effect on N 2 O emissions. Our empirical findings suggest policy recommendations that can collectively work as a roadmap for India to become emission-neutral by 2070. [ABSTRACT FROM AUTHOR]

There is a well-established literature that finds a strong causal association between remittance flows and economic growth and poverty. Owing to the poverty-alleviating and income-generating effects of remittances, it may theoretically reduce crime by increasing the opportunity cost of committing crime. This paper studies the effects of remittance receipts on crime outcomes in India. The identification strategy, exploits the variation in rainfall as an instrument for remittance receipts. The results suggest that remittance receipts have a negative effect on violent crimes and a positive effect on nonviolent crimes. Since remittance flows mean that more economic resources are available, remittances provide an incentive for certain crimes that thrive in the presence of economic resources. Therefore, an important implication of this result is that as remittance receipts increase income and welfare, there is a diverse effect on the costs and benefits of different types of crimes. It may result in unfavorable outcomes in the form of increases in certain nonviolent crimes. [ABSTRACT FROM AUTHOR]

There is a well-established literature that finds a strong causal association between remittance flows and economic growth and poverty. Owing to the poverty-alleviating and income-generating effects of remittances, it may theoretically reduce crime by increasing the opportunity cost of committing crime. This paper studies the effects of remittance receipts on crime outcomes in India. The identification strategy, exploits the variation in rainfall as an instrument for remittance receipts. The results suggest that remittance receipts have a negative effect on violent crimes and a positive effect on nonviolent crimes. Since remittance flows mean that more economic resources are available, remittances provide an incentive for certain crimes that thrive in the presence of economic resources. Therefore, an important implication of this result is that as remittance receipts increase income and welfare, there is a diverse effect on the costs and benefits of different types of crimes. It may result in unfavorable outcomes in the form of increases in certain nonviolent crimes. [ABSTRACT FROM AUTHOR]

Background: India has been the top exporter in global rice trade, accounting for more than 20% of the export in the last four years. With the increasing demand for rice globally, exports are increasing from India. This factor is helping to enhance the production capacities of rice in India. The rice production has increased by 3.5 times in the last 60 years. So, forecasting of any agricultural produce play a major role in optimal decision formulae for government and agricultural sector in India. This study aimed to increase the production of rice for next four years, by using an appropriate model. Methods: To develop an appropriate model for rice production, time series data from 1950-51 to 2016-17 have been used, through the Box Jenkins auto regressive integrated moving average (ARIMA) methodology. Result: The diagnostic tests showed that ARIMA (0 2 2) model is appropriate for forecasting on the basis of the significance of the model, parameters, Akaike Information Criteria (AIC), Schwartz Bayesian Information Criterion (SBIC) and R2. The forecasted results suggested that there are expectations of increasing the rice production in India. The proposed forecasting model will help us to estimate the rice production for future and found that rice production of India would become 110.64 MT in 2020-21. This study clearly indicates that forecasting is very useful for policy makers to anticipate future needs of rice and its export. Moreover, this would also prove helpful in shaping the national policy of economic growth and self-sufficiency in food grain. [ABSTRACT FROM AUTHOR]

Economic growth and human development are generally based on the assumption of corresponding increase in per capita energy use. The Economic Survey 2018-19 published by the Ministry of Finance, Government of India, has recommended a fourfold increase in the country per capita primary energy use from the current level to achieve the human development index (HDI) target of 0.8. The supply and environmental challenges for achieving such a high level of per capita primary energy use are formidable, if not insurmountable. Development experience of Sri Lanka, and Kerala suggests that high level of human development is possible even at lower per capita energy use, if complemented by adequate public investment in health and education. With a per capita electricity use of 1500 kWh by 2030 and 2500 kWh by 2050, India can achieve significant improvement in human development from the present level without imposing a large energy footprint. [ABSTRACT FROM AUTHOR]

India is one of the largest countries in the world in terms of area and population as well as possession of material and human potential, it is one of the oldest civilizations known to humanity and is characterized by the ancient civilization and diversity of cultures, religions and classes in addition to the diversity of its surface and its climate and the flowering of the blessings and natural resources, so the country was vulnerable to colonial domination, particularly the British colonial which makes its history passes, a lot of revolutions and uprisings against colonization. India has known a great diversity in the composition of the society of its various races, in addition to a clear contrast in its surface and climate, its prosperity and good things made it vulnerable to invasion over the ages, and India's position in terms of the geosynthetic location, the physiological structure and the political situation in India. India, like other developing countries that rely on agricultural production as an essential means to progress and achieve its sufficiency, even if it reaches a reasonable stage of growth in this field, it could turn to the development of its industries, so that they contribute with agriculture in advancing the economic development of the country, strong in the field of rapid economic growth, and cultural advancement which is its ultimate goal. [ABSTRACT FROM AUTHOR]

This qualitative exploratory study based on therapy observations and interviews with psychological experts and family therapists in Beijing, China, and Delhi, India, compares and contrasts families' psychotherapeutic experiences in India and China. Analysis suggests that the economic growth enjoyed by middle- and upper-class, urban families has also brought with it substantial anxiety and guilt. Therapists in India and China report some similar family dynamics, such as a belief in and striving for a special mother–son bond, alongside differences, such as the greater participation of men in therapy in India. This article argues this striking difference in the gender composition of clients in India compared to China is best understood in relation to the greater political and social context of each country. Elite families in India and China are differently positioned in ways that significantly impact their respective concerns about their children and their family's future class reproduction. [ABSTRACT FROM AUTHOR]