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The relationship between financial development and economic growth remains an enigma for the economists. Extensive review of the literature points out conflicting empirical evidence. Results also vary depending on the choice of indicators, stage of development of the economy and kinds of tests used. The present paper has explored the complex relationship between financial development and economic growth in India. The Indian banking sector is now well developed and the stock market also competes well with leading economies in terms of technological development, timely settlements, etc. However, it is still not clear whether India is integrated with the world financial markets or it is decoupled from it; as was experienced during the 2008 US financial crises. The paper has used appropriate indicators of financial development and the real economy to understand the relationship. The data has been analyzed using appropriate econometric techniques after testing for stationarity and cointegration. ECM has also been conducted to explore the direction of relationship between indicators of economic growth and financial development. [ABSTRACT FROM AUTHOR]

In the context of Atmanirbhar Bharat (Self-reliant India) vision, better utilization of the enormous unexploited or underutilized pool of female working force is crucial to stimulate productivity growth and develop human capital. Greater female labour force participation (FLFP) could boost productivity growth by increasing the labour supply, while poor use of women's potential places a significant drag on the economic growth. The main purpose of the paper is to acquire an understanding of the status of women/girls in the 'modern' India. It also argues that there is clearly a need for policy initiatives to empower women as gender disparities are not only persisting but increasing rapidly even against the backdrop of economic growth. The paper concludes that women's empowerment is the single greatest enabler of human development and sustainable economic growth. It does not mean pitting women against men. In this context, the role of patriarchal culture must be discussed and how its impact can be minimized. For this, a strategy known as HDPlus, is proposed. [ABSTRACT FROM AUTHOR]

Human Development is a medium to long term process, is intrinsically linked to economic development and urban growth, and encompasses individual to regional and national contexts. Human resource development is also directly affected by educational input and skill enhancement. The institutions that impart education and skills are often concentrated in urban settlements. Skills also develop through experience gathered from the work place. Basic education helps in absorption of skills. A substantial part of skills in the area of agriculture in India is through experience and enhanced extension work by agricultural extension workers. On the other hand, much of the skills in the non-agricultural sector are gained through formal and structured training and education. Although formal training is important, in the urban related sector there is still considerable informal training that develops individuals and human resources in India. This paper would attempt to weave in methodological issues in linking human capital development with urban growth, and share the results of an empirical analysis of data from an on-going research project entitled "Urbanisation and Human Capital Development in Assam", funded by the Indian Council for Social Science Research. [ABSTRACT FROM AUTHOR]

The goal of this paper is to find out the genesis of the growth story of the Indian economy and analyze the quarterly GDP growth rates of India during 2011-12 to 2019-2020 to give an insight into the ongoing economic slowdown. In addition, the aim is to study the nature and causes of the current economic slowdown which is currently challenging the Indian economy. The paper has also attempted to analyze the impact of the slowdown on the economy of the country and the measures taken by the government to arrest the slowdown and kickstart the economy. Apart from this, the paper compares the current slowdown with the four previous slowdowns and studies the timeline of key events between November 2016 and April 2019. Suggestions have been given in the paper to improve the economic situation and keep the reforms process ongoing, in order to accelerate economic growth in the country. The paper concludes with the confirmation that the Indian economy despite its current challenges faces a bright future, since fundamentals of the economy remain robust. [ABSTRACT FROM AUTHOR]

Financial inclusion helps emerging countries achieve inclusive development, and offers countries like India hope for sustained growth. Inclusive finance offers low-income and disadvantaged people access to inexpensive financial services. It helps in bridging the gap between financially weak individuals and the formal financial system by improving financial literacy and increasing the channels providing credit facilities. Marginalized groups need financial freedom to flourish economically and socially. Financial inclusion catalyzes economic and social progress, but it is not enough. The effect of the Pradhan Mantri Jan Dhan Yojana (PMJDY) on financial inclusion and India's position in the global economy has been investigated in this article. The research is based on data obtained from sources such as the Reserve Bank of India, the National Bank for Agriculture and Rural Development, as well as various academic papers. [ABSTRACT FROM AUTHOR]

This research paper will explore the impact of the COVID-19 pandemic on India's foreign trade. The study will analyze the impact of the pandemic on the trade in goods and services in India. The study will also explore the policy implications of the pandemic on India's trade. Data from the Ministry of Commerce and Industry, Reserve Bank of India, World Bank, and other sources will be used to measure the impact of the pandemic on India's foreign trade. The study will also analyze the impact of the pandemic on India's export and import partners. The paper will provide an overview of the current trends in India's foreign trade and discuss the potential policy options to mitigate the impact of the pandemic. The study will also assess the potential effects of the pandemic on India's economic growth and development. Finally, the paper will conclude by providing policy recommendations to ensure sustained economic growth in India. [ABSTRACT FROM AUTHOR]

Sociological scholarship, economic theory, and empirical studies all indicate that interpersonal relationships are valuable productive assets and deserve to be formally incorporated into the study of human development. This paper employs the India Human Development Survey to examine, using OLS and logistic regressions, the impact of different dimensions of social capital on multiple proxies for household welfare. Social capital in the form of memberships in local community organizations and social network connections has a statistically and economically significant association with household consumption expenditures, physical asset ownership, and the probability of a household living in poverty. Households that are members of any formal community organization are expected to have higher monthly per capita consumption expenditures than households without any memberships. Estimates of a similar magnitude are observed when modeling a household's stock of physical assets, a longer-term indicator of economic welfare. These indicators of social capital are also significantly associated with lower odds of a household living below the poverty line. Organizational memberships and social networks are also associated with considerably higher odds of a household assessing its own economic situation positively. Overall, social capital is a catalyst for increasing household welfare along multiple dimensions, and, therefore, a critical area of focus for economists, sociologists, development practitioners, and policymakers. [ABSTRACT FROM AUTHOR]

America's Indo-Pacific strategy is essentially a combination of its Asia-Pacific and Indian strategies: through the consolidation of its strategic alliances, it can deepen its relations with Asia-Pacific allies, and through its "wedging strategy" it can pull India into its orbit to become a strategic "fulcrum" bridging the region. India was both a key member and leader of the non-aligned movement, while also previously forming a "quasi-alliance" with the Soviet Union. At present, it has responded to the US Indo-Pacific strategy with cautious initiative. From the vantage point of a state targeted vis-à-vis a wedging strategy, India's strategic behavior is shaped by the strategic environment, its primary strategic objectives, and the relations between allies within the context of a unique strategic environment. This paper identifies two types of strategic environments: the general strategic environment and the specialized strategic environment; it further identifies primary strategic objectives as economic development, sovereign integrity and independence, national security and great state status (especially with respect to that of regional or global major powers); meanwhile, the alliance relationship is defined according to the extent to which there are divisions across state interests and the capacity of states to act autonomously vis-à-vis the alliance. Through an analysis of India's diplomatic experiences, this paper argues that against the backdrop of America's "Indo-Pacific" strategy and a lose general strategic environment, the primary strategic objective of achieving major state status and a "large divide over interests and a major space for autonomous action" shape India's cautious initiative with respect to its alliance relationships. [ABSTRACT FROM AUTHOR]

Much of the discussion in favor of simplicity of legal rules and against complex regulation is rooted in economically developed countries with strong state capacity. With economic development and state capacity comes the presumption that complex rules will be enforced. Therefore, analysis focuses on the administrative and error costs, and the unintended consequences of complex rules that are enforced. This paper argues that the Epsteinian insight is even more relevant to the developing world where countries often lack enough state capacity to even take on simple governance tasks. Developing countries often have less than 20 percent of the state capacity of developed countries. However, this does not mean they limit the regulatory structure to a fifth of the tasks. Under-enforcement or non-enforcement of complex rules imposes different costs and unintended consequences on society. Using examples from India, this paper highlights problems of enforcement swamping, deadweight loss, and corruption arising from the under-enforcement of complex rules. To avoid these problems, the paper concludes that a fortiori less developed countries should favor simple rules. [ABSTRACT FROM AUTHOR]

This paper examines the short and long-run relationships between Foreign Direct Investment (FDI), Trade Openness and GDP in China, India and Mexico from 1980 to 2011. Based on the properties of individual time series data, the paper estimates the VAR or VECM of the three variables to determine short and long-run causal relationships. The results confirm the existence of long-run causal relationships between the three variables for China and Mexico. The results also point to sharp differences in short-run causal relationships in the three countries and several plausible explanations consistent with the findings are offered. [ABSTRACT FROM AUTHOR]

This paper develops a two-period Overlapping Generations (OLG) model of endogenous growth in which a two-way relationship between social capital and human capital is studied. In order to illustrate the impact of public policies, the model is calibrated using the data for a low-income country, India and a sensitivity analysis is reported under different parameter values. Based on the numerical analysis, this paper focuses on possible trade-offs in the allocation of government spending between two productive components, that is, social capital-related activities and education. The results of this paper show that an increase in the share of public spending on social capital-related activities through a cut in spending on education or vice versa entails trade-offs. However, the trade-off fades away and the net impact on long-run growth turns out to be positive for different parameter values in the case where a higher share of spending on education is financed by a cut in spending on social capital-related activities but a policy in improving social capital accumulation at the expense of education is always detrimental to long-run growth. [ABSTRACT FROM AUTHOR]

The related literature reveal that the papers on environmental pollution do not sufficiently analyse the cement production which is an important determinant of air pollution and health problems by using econometric methods. To fill this gap, this paper aims to examine the relationship between cement production, air pollution, mortality rate, and economic growth by employing MS Bayesian Vector Autoregressive (MScBVAR) and Markov Switching Bayesian Granger causality (MScBGC) approaches from 1960 to 2017 for China, Brazil, India, Turkey and the USA. MSIA(2)-BVAR(1) model for China, MSIAH(2)-BVAR(3) models for India, MSIAH(3)-BVAR(2) for Brazil, and MSIAH(3)-BVAR(1) for Turkey, and MSIAH(2)-BVAR(2) for the USA were selected. The MScBGC results revealed that the cement production is granger cause of mortality rate, air pollution, and economic growth in all regimes for China, India, Brazil, Turkey, and the USA. [ABSTRACT FROM AUTHOR]

This paper examines the impacts of trade openness, GDP per capita, and urbanization air pollution. It takes into consideration data on India during the period 1961-2017 to see how trade openness, GDP per capita growth, urbanization have impacted CO2 emissions. To test for the existence of an inverted U shaped hypothesis, U-test is used in this paper. The data is subjected to various econometric tests, including unit root test, optimal lag test before applying the Johansen test for co-integration to understand the long-run relationship between the above variable. Then the unrestricted VAR model and Wald test are used to find the short-run causality between the variables under analysis. Further, to observe variation in an endogenous variable into the component shocks to the VAR, variance decomposition of the CO2emission is observed. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is investigate the dynamic linkages among industrial energy use, industrial value added, financial development (FD) and trade openness, in case of India. The study covers the annual frequency data on both aggregate and disaggregate variables for the period 1971–2016. Design/methodology/approach: The autoregressive distributed lag bounds testing approach is applied to examine the long-run relation among variables under consideration. Also, Johansen and Juselius (1990) and vector error-correction mechanism results confirm the result of cointegration. Furthermore, non-linear relationship in the model is also tested. Findings: It has been found that there exists long-run relationship among variables. Long-run estimates show that increasing FD leads to more energy uses. Hence, FD should be directed in such a way that it incentivises firms to invest in energy-efficient technology. Furthermore, it is also found that study supports the evidence of conservative hypothesis, which supports that the energy conservation policy should be adopted in the industrial sector. Energy efficiency programme needs to be designed very carefully to achieve a higher level of energy efficiency. This leads to a sustainable growth and low carbon emission. Originality/value: This paper examines the recent trend in Indian industrial energy consumption and does a comprehensive analysis using a robust econometric method. We have developed a lucid model to examine the deriving factors of industrial energy consumption. [ABSTRACT FROM AUTHOR]

The article presents a study that explores the role of export processing zones (EPZs) in the trade and economic development of countries. It first provides an overview on the use of EPZs, and presents case studies from China, India and Russia that illustrate new trends and policies in such processing zones. It then offers a review of the economic costs and benefits of export processing zones and how EPZ policies relate to trade rules. The relationship between EPZs and the World Trade Organization (WTO) Agreements was also examined, and the treatment of EPZ in Regional Trade Agreements (RTAs) was discussed. The report concludes that EPZs are suboptimal policy from an economic point of view, and can only provide interim solution to developing countries.

Among the most remarkable events in the world during the last half-century has been the notable economic growth, social transformation and poverty reduction that has taken place in Asia. The March 2002 issue of the 'Journal of Asian & African Studies,' contains nine papers, authored by economists, sociologists and anthropologists, covering five countries in the region including India, Pakistan, Philippines, Thailand and Vietnam. These papers suggest that rather than making land reform the centerpiece of the strategy for rural development and poverty reduction, the government should give priority to investments in physical and social infrastructures, agricultural research and technology transfer and enforcement of contractual arrangements and property rights. The paper by Saurabh Sinha, Michael Lipton and Shahin Yaqub is closely related to the Baulch and McCulloch paper in that it also is concerned with transitory changes in household welfare.

Corporate sustainability or 'triple bottom line' reporting is coming of age. It relates to corporate disclosures on the economic, social and environmental aspects of their operations for societal benefit. Although a voluntary exercise, sustainability reporting is indeed a desirable tool which can be used by companies' to showcase their best practices. One aspect of the 'triple bottom line' relates to the environmentally responsible strategies(environment risk mitigation and abatement) employed by corporates in their quest to be good corporate citizens. This paper employs a case study approach to highlight the importance of environment sustainability reporting. It scrutinizes corporate sustainability reports of an Indian company showcasing its 'green' initiatives, benchmarked against global/ national 'green' performance standards. Such corporate disclosures can have a 'cascading' effect on the Indian business environment. Adoption of such best practices by other Indian corporates can unleash their collective potential in the global corporate arena. Thus, the paper attempts to bring out the essence of normative economics - 'what ought to be'. [ABSTRACT FROM AUTHOR]

The two relevant criteria for evaluating the performance of the Indian economy in regional terms, in respect of FDI flows, according to our understanding are efficiency and equity. Since FDI is primarily a relocation of international production it is based on the principle of optimal resource allocation. The notion of efficiency, in this context, refers to the tendency of FDI to flow to those regions or States which have efficient production. The other side of the coin is that an efficient State deserves to get a greater share of FDI. This spells out the notion of equity. The paper uses set of new indices, including index of rank dominance, which shows that the most dominant centre is Mumbai. The paper also uses a 2-Stage Least Square (2SLS) estimation procedure, with two panel regression fixed effects models. There is a very high elasticity of FDI flows w.r.t. SDP growth. Also the results show that there is an extremely high negative correlation (-0.996) between equity and efficiency. The states that are more efficient receive less of FDI flows. This points towards non-economic forces in operation that influence FDI flows and regional development. [ABSTRACT FROM AUTHOR]

The paper examines the impact of macroeconomic variables on CO2 emissions, very few research studies are available to estimate the asymmetric impact and causality. Because of the significance of asymmetries, this paper examines the asymmetric impact of economic growth, crude oil use, and FDI inflows on CO2 emissions in the India wherein COP (Crude oil price) is comprised as the extra variable. The implicate aggressive growth of selected variables over the period 1990-2020 is also assessed. This study uses the methodology ARDL and NARDL model to determine the macroeconomics variable's effects on CO2 emission over the period 1990-2020. Additionally, also applied the EKC (Environmental Kuznets Curve) hypothesis with an application of ARDL and NARDL model. With help of the ARDL and NARDL model, the study shows the results that a rise in economic growth would reduce CO2 (carbon dioxide) emissions while a decrease in economic growth would raise CO2 emissions which indicates an inverted U-shaped Curved relationship between economic growth and CO2 emissions. The positive and negative shockwaves in COP (crude oil prices) have a satisfactory and substantial impact on CO2 emissions as well. Besides, the crude oil consumption with positive shockwave confirmations has a positive and substantial impact on CO2 emission. In addition, the results of FDI inflows support the pollution heaven hypothesis. In light of these outcomes, this paper also recommended policy implications and future research, the policy implications are where the descending flow of FDI allows limited space to India in FDI selection; however, the existence of emission merging and implementation of carbon pricing may facilitate India in achieving its environmental targets., (© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

This paper is an attempt to analyze the trajectories of welfare policy in India since independence. Four overlapping phases are outlined, keeping in mind the transformations in the political and economic contexts. The corresponding welfare discourses are: Paternalistic, Clientelistic, Basic Needs and Responsive. These concepts indicate broad strategies of policy and are not analytical categories. However, one can easily discern a general trend, perhaps a snapshot, of the ideas which shaped welfare policies in India. We assume that the changes are incremental and cumulative. The policy makers' conceptualization of welfare during each time period, the interpretation of these policies in scholarly literature and a critical evaluation are presented. We have suggested that the responsive welfare policy in the recent times is a process of empowering citizens by converting their needs to demands. Democratic representation of the marginalized in the Indian state's policy space is gradually getting recognized. [ABSTRACT FROM AUTHOR]

Background: Development assistance for health (DAH) is an important source of financing for health for many low-income and some middle-income countries. Most DAH has predominantly been contributed by high-income countries. However, in the context of economic progress and changing global priorities, DAH contributions from countries of the Global South such as India have gained importance. In this paper, we estimate DAH contributed by India between 2009 and 2020. Methods: We leveraged data from budgetary documents, databases, and financial reports of the Ministry of External Affairs and multilateral organizations to estimate DAH contributions. The proportions of development assistance that go towards health in major recipient countries were estimated and reported by recipient country and year. Results: Between 2009 and 2020, DAH contributed by India to bilateral and multilateral partners totaled $206.0 million. South Asian countries including Bangladesh, Bhutan, Nepal, Sri Lanka, and Myanmar received the most DAH from India. DAH contributed relative to DAH received ranged from 1.42% in 2009 to 5.26% in 2018, the latest year with country-level data. Health focus areas prioritized by India included technical training and innovation, health care infrastructure support, and supply of medications and medical equipment. Conclusion: India is an important development partner to many countries–particularly to those in the South Asian region. India's DAH allocation strategy prioritizes contributions toward neighboring countries in the South Asia region in several health focus areas. Detailed project-level data are needed to estimate DAH contributions from India with greater precision and accuracy. [ABSTRACT FROM AUTHOR]

This paper intends to know the impact of information and communication technology (ICT) on the economic progress and renewable energy consumptions in two Asian economic giants namely India and China. To achieve the objectives, generalised method of moments (GMM) and pooled ordinary least square (OLS), fixed effect and random effect models have been applied using yearly panel data of individuals using internet as ICT, growth rate of gross domestic product (GDP) as economic progress, electric power consumption as energy consumptions and foreign direct investment (FDI). This study observes significantly positive impact of ICT on renewable energy consumptions while negative and insignificant impact on the economic progress in India and China. It is observed that countries are similar in renewable energy expansion, time spent on internet, electricity generation and policy support for renewable energy generation while they significantly differ in the number of internet subscribers, internet-based entrepreneurships and sources of renewable energy. This study proposes to apply ICT in all possible sectors to boost-up economic growth as well as to enhance the demand for renewable energy consumptions. [ABSTRACT FROM AUTHOR]

Signifying the spirit of co-operative federalism, Goods and Services Tax(GST) has been a historic and game-changing tax reform aimed at improving governance, strengthening tax institutions, and imparting buoyancy to the tax base in India. This paper examines the implementation of GST with special reference to the e-commerce sector. Since the e-commerce sector is becoming a significant sector for the India economy, the paper attempts to understand the clarity of tax provisions with regard to this sector. It is observed that due to differential practices of states regarding treatment of e-commerce operators during the pre-GST period, there was a lot of confusion and ambiguity. Under GST, however, there are clear-cut provisions applicable to e-commerce sector on all-India basis and there is no complication regarding inter-state movement of goods. [ABSTRACT FROM AUTHOR]

This paper examines the knowledge-practices used by rural activists to raise public concerns about the use of water and land resources by a Coca-Cola bottling plant in Uttar Pradesh, India, between 2004 and 2014. These knowledge-practices included the use of semiotics and carefully crafted discourses—such as slogans and protest songs—to produce knowledge about villagers' rights to rural subsistence and survival. An aim of this paper is to show the impressive ways in which the social movement persevered by building both public claims to a moral economy as well as village-level practices and institutions that helped to enact visions of what a moral economy could or should be. Of particular significance were activists' efforts to frame rural water extraction and water rights through a subsistence-focused morality of rural development. This moral economy underscores villager-articulated desires for beneficial forms of economic activity that support rural livelihoods rather than prioritising environmentally destructive corporate activities. [ABSTRACT FROM AUTHOR]

The payment industry in India is rapidly revolutionizing. Economic growth has enabled India's 1.2 billion population to avail superior financial services compare to their previous generations. There is availability of plethora of electronic payment services like credit cards, debit cards, net banking, e-wallets which consumer can use for payment. This growth of electronic and cash less payment has also led to the increased use of the credit cards. The credit card offers consumers the convenience of purchasing without paying cash and removes the need of carrying cash. Also, the credit card offers consumers access to credit without detailed paper work as in a loan. The purpose of the research paper is to study the role of demographic variables in credit card selection criteria. Variables are adopted from a study conducted by Gan, Maysami, and Koh (2008). For this study, six factors namely Convenience, Protection, Economics, Flexibility, Reward Program and Reputation are selected. The sample was selected from the National Capital Region of Delhi as consumers have greater exposure to credit cards. This study based in emerging economy like India has relevance because of changing consumers' preferences and usage behaviour. [ABSTRACT FROM AUTHOR]

Monetary policy is often expected to adopt a pro-growth stance in a phase of prolonged slowdown in growth and sluggish investment activities. Sacrificing inflation, i.e. lowering nominal policy rate even when inflation persists at a high level, is a convenient means to lower real interest rates, which in turn could be seen as a pro-growth stance of monetary policy. Using both firm level and macroeconomic data, and alternative methodologies -- such as panel regression, VAR, quantile regression and simple OLS -- this paper finds that for 100 bps decline in real interest rate, investment rate may improve by about 50 bps and GDP growth may pick up by about 20 bps. This paper, however, provides robust empirical justification against pursuing a policy of lowering monetary policy interest rates when inflation persists above a threshold level of 6 per cent. The beneficial impact of lower real rates on growth that may be achieved through higher inflation tolerance is more than offset by the harmful effect of high inflation, particularly when it exceeds a threshold level of 6 per cent. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic has led to major learning about the social and economic losses that an external shock to the system can cause. In this paper, we examine some sustainability issues focusing on three key focal points of sustainable development – economic growth, poverty and inequality in the context of climate change. We focus on the inter-relationship between economic growth, investment, labour force participation, energy consumption, poverty and inequality under alternative scenarios using the global framing of Shared Socio-Economic Pathways (SSPs). An econometric model is used for estimating the relationship between GDP and its determinants along with fitting a General Quadratic and/or Beta Lorenz curve using the World Bank's Povcal software for determining the relationship between income, poverty and inequality. Alternative GDP growth paths, redistribution assumptions and poverty lines are used for simulations which reveal the extent of sensitivity of the developmental targets to scenarios up to 2030. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to investigate the direction of causality between firm productivity and export status. The correlation can arise from multiple alternative causal models, and the authors study if more productive firms export, and/or if firms learn to export, and/or if firms learn by exporting.Design/methodology/approach The authors investigate these relationships, harnessing the natural experiments offered by firms which transitioned into exporting, in a dataset of Indian firms from 1989 to 2015. Each firm which made the transition is matched against a control which did not. The transitions take place across many years, thus permitting a matched event study in firm outcomes.Findings The authors find there is self-selection of more productive firms into exporting. Firms that make the transition into exporting become bigger, but there is little evidence of learning by exporting, of improvements in productivity right after exporting commences. However, there is evidence of learning to export, that is there is improvement in productivity of export starters in comparison to their productivity a couple of years before they begin to export.Originality/value The strength of the paper lies in an opportunity for sound measurement: we observe firms make a transition from domestic market into exporting. The transitions take place across many years, thus permitting a matched event study in firm outcomes. Using this methodology, the authors find that firms become more productive a few years before they export, that is they learn to export. They contribute to the literature by bringing evidence of "learning to export" from a developing country. [ABSTRACT FROM AUTHOR]

The emergence of Small and Medium Entrepreneurs and their valuable involvement towards economy is now noticeable and observed in India and its advantage can also be visible. The living standard of the families gets improved in terms of their health, better fed, their income and savings and so on (Deikun, 2006). Extensively, it is assumed that entrepreneurship benefits and boosts growth and expansion of economy for in turn develop the nation as a whole. The concept of entrepreneurship has been astonishingly revival from the very earlier period in many countries that significantly achieved decrement in a dearth (Naude, 2013). The economics' perception recognized that an entrepreneurship-focused the growth plus development of economic profits for the individual and/or the society. These economic profits are referred as essential development goals. The aim of this paper is to study the relationship between economic goals and sustainable entrepreneurship and also to analyze its impact. The paper determined the attributes of 'economic goals' that has an impact on the development of sustainable entrepreneurship. The sum of 500 SMEs from the selected districts of Uttarakhand (one of the states in India) was inspected. It was found that the attributes extracted from 'economic goals' (Employee welfare, Economic growth, Performance and business stability) were positively correlated with sustainable entrepreneurship. It also concluded that three attributes have a favorable impact on sustainable entrepreneurship except 'employee welfare' has an unfavorable impact. [ABSTRACT FROM AUTHOR]

• The paper documents developments in Indian economic performance and the role of structural change in this performance. • Manufacturing is dominated by informal labor, which has a deleterious effect on overall manufacturing performance. • Productivity growth is driven by within sector growth, with positive contributions of formal and informal activities to this. • Labor reallocation to the informal segment of the manufacturing sector is growth reducing in the Indian manufacturing sector. • A shift to more productive informal activities across sub-sectors exists, but this doesn't offset the negative within effect. This paper examines the role of structural change in India's performance, and in particular the role of the informal segment in the stagnant growth of the Indian manufacturing sector. Using counterfactual analysis – including a modified shift-share approach – the paper considers to what extent the informal sector can help explain the poor performance of Indian manufacturing over the period 1980-2011. The results suggest that the informal segment of manufacturing has been a drag on overall manufacturing productivity growth, with the informal manufacturing segment unable to provide a productivity bonus when absorbing workers from the agricultural sector. Results from the shift-share analysis indicate that labor reallocation to the informal segment of the manufacturing sector is growth-reducing, with structural change being the main source of this reduction, an effect which in turn is driven by movements of employment within manufacturing sub-sectors. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to examine income inequality and income mobility, which have been central to understanding India’s recent economic development.Design/methodology/approach This paper uses the first two waves of the India Human Development Survey data for the year 2004–2005 and 2011–2012 to analyze income inequality and income mobility using longitudinal data, and is the first to do so at a nationally representative level. In this research paper, we address three related research questions: How have been the patterns of income mobility in India? What are the trends, levels and sources of income inequality in India? and finally And What is the structure of household income mobility?Findings The paper examines the trends, levels, sources and factors of income inequality and income mobility in India between 2005 and 2012. The results further show the case for high persistence at the top of income distribution but lower persistence at the bottom.Research limitations/implications Because of the chosen research approach, the research results may lack spatial analysis. Therefore, researchers are encouraged to test the proposed propositions further.Practical implications The paper suggests that, in the end, the nature of longer-term well-being is crucial to designing policy interventions to effectively tackle inequality, and economic mobility can be seen as an avenue to long-term equality.Social implications This study can further be extended to look at polarization issues at the national and sub-national levels.Originality/value This paper shows the analytical framework of additive decomposition of income mobility out of two sources, namely mobility due to the transfer of income within given structure and mobility due to economic growth or contraction in rural and urban India. [ABSTRACT FROM AUTHOR]

Inclusion is a multi-faceted concept. Growth is said to be inclusive when it allows all members of the society to participate in, contribute to, and benefit from the growth process on an equal basis, regardless of individual circumstances. But, the fact is that the growth in India, and in other countries, too, has not so far been very inclusive. The number of people living below poverty line, illiteracy, increased number of child abuse and child labors, Millions of homeless people on the roads are some of the indicators of exclusion. Inclusive growth, therefore, should become a major policy priority and everyone must share the benefits of growth. The present paper develops a sketch of the homeless people in two metro cities of India in view towards ensuring inclusive growth and reducing the problem of homelessness. The homeless are excluded community in several aspects. However, the paper attempts to measure only the extent of homelessness and the causes of homelessness. The paper is based on primary data and analysis is done using regression model and Binary Logit model. This homeless profile is expected to give an understanding to the academicians and policy makers and throw light on the extent of poverty and causes of homelessness; to reassess and improve on the existing methodologies and suggest new and alternative policies to help people bring them to the mainstream and make growth inclusive. The objectives of this paper are; 1. To analyze the extent of exclusiveness with special reference to homeless people 2. To examine the causes of homelessness and 3. To suggest policy measures [ABSTRACT FROM AUTHOR]

Age structure of a country is inextricably mixed with the economic growth through demographic dividend. In this paper, the extent of demographic dividend is arrived at by distinguishing support ratios from 2004-2050.1 While encomiums are galore about the benefits and blessings of demographic dividend, its sustainability is at stake as little health and employment dividends are forthcoming out of it. The paper empirically proves that the health scenario of the country is in serious jeopardy. On unemployment, it invariably finds that there is an absolute decline in employment since 2011-12 which doesn't bode well for India.2 These corroborate the fact that realisation of dividend is illusory. The paper, therefore, pitches for spectacular spike in the allocation for health and education sectors and their prudent spending sans much ado so that population dividend can make its edifice. [ABSTRACT FROM AUTHOR]

There is an increasing policy focus on India’s demographic potential and associated growth benefits. This paper provides empirical evidence regarding the net growth benefits derived from an increased share of working-age population in India. The analysis adopts decomposition and econometric methods, using data at the state and national level in India, to robustly test the nature and magnitude of the demographic dividend in India. We find that the Indian economy is drawing significant benefits from the ongoing process of demographic transition, with dividend effects estimated to be over one percentage point per annum during 1980-2010. However, to derive high growth from the demographic potential would require tackling some of the growth constraints. The paper discusses ways in which these constraints can be addressed to fully tap the potential of demographic dividend. [ABSTRACT FROM AUTHOR]

There is a strong correlation between urbanization and economic development, where cities presently contribute approximately 60% to the GDP and which is expected to increase to 75% by 2030, also affect on the development of Real Estate market. The Guwahati city is rightly termed as the engines of economic growth and innovation. This pace and scale of urbanization is unprecedented for India. Consequently, a number of key policy and governance challenges have emerged in recent years as uncontrolled and unplanned urbanization have continued to add pressure on civic infrastructure systems, where urban India remains underserved by utilities and suffers from inadequate housing stock. A recent study by a technical group constituted by MoHUPA has revealed that with population crossing 1.20 billion in 2011, the magnitude of housing shortage stood at 18.7 million units in 2012. Therefore, creating urban housing stock as a preventive strategy to contain ever-increasing slum population has become a top priority for sustainable urban planning and development. This paper tries to examine the valuation procedure followed in the valuation of real estate. The paper also highlights the various method of valuation method in vogue in the real estate. This paper also tries to analyse the determinants influencing the valuation of property. The paper also tries to bring out the challenges faced during the valuation of real estate in the Guwahati city of Assam. [ABSTRACT FROM AUTHOR]

The development of global economy has pushed up the importance of insurance industry in the growth of an economy. This paper intends to study the non-life insurance sector with an objective to identify the macro-economic factors that influence its growth. Time series data of 37 years is considered using Johansen & Engle Granger Cointegration and Ordinary Least Square method. It was found that Final Consumption Expenditure plays a negatively significant role in influencing non-life insurance sector in India. The practical implication of this study lies in controlling the responsible factors through appropriate policy measures to ensure a sustainable growth of the non-life Insurance sector. [ABSTRACT FROM AUTHOR]

Abstract: India accounts for 4.5% of industrial energy use worldwide. This share is projected to increase as the economy expands rapidly. The level of industrial energy efficiency in India varies widely. Certain sectors, such as cement, are relatively efficient, while others, such as pulp and paper, are relatively inefficient. Future energy efficiency efforts should focus on direct reduced iron, pulp and paper and small-scale cement kilns because the potentials for improvement are important in both percentage and absolute terms. Under business as usual, industrial energy use is projected to rise faster than total final energy use. A strong focus on energy efficiency can reduce this growth, but CO2 emissions will still rise substantially. If more substantial CO2 emissions reductions are to be achieved then energy efficiency will need to be combined with measures that reduce the carbon intensity of the industrial fuel mix. [Copyright &y& Elsevier]

This paper studies the impact of the development of social sector on the long-run economic growth in the Indian states during 1990-1991 to 2017-2018. It is observed that different States in India are not only spending unequally on social sector activities, but also are giving unequal importance to different components constituting the social sector. This has widened a disparity in the level of social sector development which might have led to an inequality in the human resource development and consequential disproportionate economic growth across the Indian States. The findings of this study have predicted a convergence in the social sector development across the Indian States. In this perspective, the findings of long-run analysis support the existence of an equilibrium relationship between social sector development and economic growth in the country. In addition, public expenditure on the sub-sectors such as family welfare and medical and public health, housing and urban development, water supply and sanitation, and social security and welfare have been found to exert a positive impact on the economic growth of Indian states in the long-run. The findings are critical for the policy circle designing programmes and schemes for the development of social sector to ensure inclusive growth. [ABSTRACT FROM AUTHOR]

This paper scrutinizes the asymmetric impact of education and education expenditure on clean energy consumption and CO2 emissions in the BRICS economies using annual data for the period 1991-2019. The analysis employs a nonlinear autoregressive distributed lag (ARDL) framework. Findings unfold that a positive change in education contributes to increasing clean energy consumption in Brazil, Russia, India, and China. This finding implies that a negative change in education contributes to reducing clean energy consumption in Brazil, Russia, and India in the long run. Nonetheless, a positive change in education expenditure increased the clean energy consumption in Brazil, Russia, and India, while it has decreased in South Africa. On the dark side, a negative change in education expenditure degrades clean energy consumption in India, China, and South Africa in the long run. The asymmetric empirical results of CO2 emissions are mixed, economy-specific, and vary across group countries in the long run. We find that the education and education expenditure has long-run asymmetric effects in BRICS industries. Thus empirical findings give us robust policy implications for BRICS economies., (© 2021. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

The role of government size and digitization in the process of environmental quality is a matter of considerable debate in the field of environmental economics. BRICS economies have suffered from environmental pollution. This paper scrutinizes that how CO 2 emissions respond to government size and digitization in BRICS economies. Empirical estimates of the ARDL approach show that government size has a positive impact on CO 2 in Brazil, India, and China, while negative impact on CO 2 in Russia in the long run. The long-run estimates reveal a negative and significant effect of digitization on CO 2 in Brazil, India, and China. Education and e-learning activities have a favorable and crucial role played in environmental quality in Brazil, India, and China. Based on these findings, BRICS authorities should improve the efficiency of government expenditures and invest more in digitization to improve the quality of the environment., (© 2021. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

This paper highlights the importance of banking institutions in underdeveloped financial markets. Using the concept of external dependence of firms developed in the literature, the paper examines the importance of funds from development banks in India for firm investment. Results indicate that funds from development banks are particularly important for firms with high level of external dependence for funds. It highlights why regulatory reforms related to banking institutions may have adverse implications for firm investment in under-developed financial markets. [ABSTRACT FROM AUTHOR]

The author reflects on an article which focused on the operation of non-Information Technology (IT) businesses operating in Bangalore, India. The author suggests the use of a useful and policy-relevant discussion on the comparison of the city's non-IT businesses with the industrial growth and development in the U.S. The author also claims that the paper does not present credible tests to demonstrate the there is no spillover effect from the emergence of IT business in the city to the other parts of the local economy.

The paper critically analyzes the problems and the hurdles for the financial inclusion for the economical growth and plans to call attention to the importance of Pradhan Mantri Yojana to bring Financial Inclusion a reality. A country can develop economically and socially if its weakest section can end up being financially independent. To achieve inclusive growth, the Government of India has introduced many schemes recently and steps have been taken that the benefits of policies reach the people. The schemes include Pradhan Mantri Jeevan Jyoti Yojna, Pradhan Mantri Bima Suraksha Yojna and Pradhan Manti Atal Yojna that have already been launched. The unawareness of financial institutions in the rural, semi‐urban and hilly areas of India is worrisome. The study focuses on the secondary source of information obtained through the website of the Reserve Bank of India website and other published sources. Sustainable growth, economic development and progress of an economy can only be achieved if a country has a well‐equipped financial system. All the assets, funds and capital have to be properly channelized for attaining inclusive and sustainable development goals in the Indian economy. [ABSTRACT FROM AUTHOR]

Purpose: The study aims to understand how various channels of financial sector development affect the income inequality across Indian states and whether the inequality widening or narrowing hypothesis of financial development may be confirmed at a sub-national level. Design/methodology/approach: Using state-wise annual data for the period from 1999-2000 to 2011-2012, a panel data analysis using generalised method of moments (GMM) estimator is conducted for a sample of 15 major Indian states. Findings: The results confirm the inequality widening hypothesis of financial sector development in India. While each channel affects different section of the population in a different way, their overall effect on the income inequality remains unfavourable. Originality/value: This paper is the first ever study to provide a comparative empirical evidence for the effect of each channel of financial development on the income inequality in India. The results provide significant insights to the policymakers, practitioners and academia in the financial sector with respect to the efficiency of each channel of financial development in bridging the gap between the poor and rich. [ABSTRACT FROM AUTHOR]

The state of being male or female especially when considered with reference to social and cultural differences rather than biological ones is called gender. Education seeks to nourish the good qualities and draw out the best in an individual. Gender inequality in education refers to the inequality in education between females and males. The paper aims to examine the gender inequality in literacy rate, Never Att ended Rate (NAR) and investigate the impact of gender inequality in education on economic development in India. To examine the gender inequality in literacy rate across India, gender gap in literacy rate is examined for the period 1991-2011 using secondary data. To examine the gender inequality in NAR for the different age groups i.e. 7-14, 15-19, 2-24, 25-29, 30-34, 35-59, 60+ and ANS (Age not stated), gender gap of NAR for 2011 is examined using secondary data. Using a regression model, the paper investigate the impact of gender inequality in education on economic development in India. For the purpose, secondary data for Human Development Index of 2015 for different states and Union Territories (UTs) and gender parity index of literacy rate for the year 2011 of different states and UTs are used. The study finds that gender inequality in literacy rate where females lag behind males exist in India as a whole and in all its states and UTs. It is also found that male NAR is lower than female NAR in all the age groups in India as a whole and in almost all the States and UTs. The regression result reveals that gender inequality in education has a negative impact on economic development in India. [ABSTRACT FROM AUTHOR]