An Indian story on carbon emission,energy consumption,trade openness,and financial development

This paper empirically studies the impact of energy consumption, financial development, and trade openness on India's carbon emission for 1971 to 2014 and validates the environmental Kuznets curve hypothesis for India. The Autoregressive Distributed‐lagged model (ARDL) bound test is used to test the existence of cointegration among the key variables. The results exhibit a U‐shaped relationship between carbon emission and energy consumption in the long run. Through this study, we find out the maximum threshold value of energy consumption per capita to 757 kg of oil equivalent, which is above the current consumptions levels—indicating a rise in carbon emission shortly. Further, the long‐run results show that a 1% increase in trade openness will decrease carbon emission by 0.11%, which is a display of technological effect over scale effect and composition effect. Financial development does not exhibit a significant relation to carbon emission. The results are in line with the literature on climate change in emerging countries. This empirical work gives some insight into policy issues that have to be looked into further.     

Financial inclusion,banking the unbanked: Concepts,issues, and policies for India

We use the data from World Bank Global Findex for the year 2011 , 2014 and 2017 to understand financial inclusion in India, at the same time we compare India's situation with the other BRICS nations. We fathom the fact that financial inclusion is definitely the way forward for an economy to achieve inclusive growth. Financial inclusion is just not an economic concept rather it is termed as a socio‐economic concept, as it helps people have a security for future life through access to education and health facility, a secure future and better standard of living. In India we see the barriers to inclusion are predominately caused by voluntary exclusion, and though policies will help to reach out but the ultimate goal of financial inclusion could be only achieved through improving awareness and financial literacy in India. Thus financial inclusion should be backed by financial literacy to get the best results.     

The rise of the shadow economy: An Indian perspective

This study was undertaken to understand the importance of the shadow economy, which is often misunderstood and misquoted. We come to an understanding of why this is an uproar regarding black money generation in India. This paper is an attempt to bring forward past evidences and current situation to understand the system through discussing various points of views in the literature. The paper concludes with bringing out the difference in black wealth and black money and the impact of both on the economy and answers the question—Is black money really bad for the economy? It is a hope that these results will be useful to policymakers and stakeholder to make policies that cater to all.