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Artificial Intelligence (AI) has emerged as a transformative force in various sectors, offering both opportunities and challenges, particularly in a rapidly developing nation like India. This paper explores the dual aspects of AI as a boon and a bane, analysing its impact on economic growth, employment, healthcare, education, and ethical concerns. While AI promises enhanced productivity and innovation, it also poses risks such as job displacement, privacy violations, and algorithmic bias. This study aims to provide a balanced perspective on the implications of AI in India, highlighting the need for strategic frameworks that maximize benefits while mitigating risks. [ABSTRACT FROM AUTHOR]

In the present stimulated business environment, power sector is playing a major role in the economic growth of India. During the last 20 years, the country had been facing a poor supply of energy and this supply-demand gap is increasing continuously. So, it is important for power plants to improve its power generation capacity drastically by reducing the failure rate. In the present paper, to analyze the causes of poor availability, thermal power plant has divided into six different systems and a system comprising of waste gases heating system has been considered. With the help of transition diagram, mathematical equations have been used to find out the availability. After analyzing, it was found that the value of availability is very low and boiler tube failure is one of the most critical factors for this low availability of system. Economizer zone has identified having long existence time of failures and frequency of occurrence is very high. So, minimizing the failure rate with the help of a proper maintenance schedule will result in decreasing the shutdown period of the plant and increasing the system availability. [ABSTRACT FROM AUTHOR]

The paper critically dissects the contemporary policy landscape and its ability to counter precarious work for construction workers in the Indian context. By focusing on the governance challenges faced by welfare institutions and the pre-existing fault lines exposed by the pandemic, the paper argues that social policies are languishing and inefficient to respond to the challenges of growing precarity. The paper uses Breman's conception of 'Footloose labour' to understand informality related to construction workers and Gilbert and Terrell's social policy analytical framework to understand the institutional response. The two major arguments that make the social policy languish are the inability of the policy to alter neoliberal employment relationships and the operational challenges that institutions face in implementing welfare schemes for many footloose labourers. Moreover, the situation is further exacerbated by inherent contradictions of the state which is entangled between promoting economic growth through neoliberal policies while consecutively ensuring labour welfare. If the Institutional challenges persist along with the persuasion of neoliberal reforms, footloose labour is only going to be further marginalized and pushed to limits. [ABSTRACT FROM AUTHOR]

This paper assesses the feasibility of India achieving its stated objective of getting to net zero carbon emissions by 2070 and outlines a possible strategy for the next 10 years consistent with this goal. It recommends a combination of price-based measures and several sector-specific interventions. The ideal price-based measure would be a carbon tax. This may not be feasible for various reasons, but in its absence a well-designed emissions trading system, as described in the paper, could make a major contribution in reducing emissions. On sectoral interventions, the critical areas over the next 10 years would be (i) accelerated expansion of various forms of renewable energy capacity, which will require several policy changes, (ii) electrification of transport, and (iii) a shift from private to public transport in urban areas and from road to rail for freight. Action will also be necessary in other sectors such as industry, agriculture, and buildings, but a detailed strategy for these may take more time to put in place. Since responsibility for action in all these areas is spread across different ministries in the central government and, in many cases, state governments, evolving an internally consistent and cost-effective strategy will present a major challenge. There is a case for setting up a high-level commission chaired by the Prime Minister to approve a national strategy. The paper estimates that the additional investment needed to make this transition will be about 2 per cent of India's GDP by 2030, much of which will have to come from additional public and private savings. In this context, some form of carbon pricing would help generate additional revenue. [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]

The world has achieved massive economic progress in the past few decades, along with population explosion and rapid urbanization/industrialization, the effects of which are being realized across the world in the form of global climate change with huge environmental impact. Though climate change is a natural phenomenon, the release of several greenhouse gases (GHGs) into the atmosphere through human activities has made a greater contribution to global warming. The present paper is a review of Indian climate features/trends and their consequences across the country. Recent countrywide trends in some selected climatic parameters like rainfall and temperature have been depicted. India is an agrarian country and is exposed to various hydro-ecological vulnerabilities, particularly successively occurring, extreme, climatic hazards like drought, flood and cyclone. Based on some indices, possible vulnerable areas due to the effect of climate change have also been depicted. Although the analyses are based on national level secondary data on selected parameters, some region-specific micro-level studies may better reveal the significance of these vulnerabilities. The present paper an attempt to map the climate variability across the nation. [ABSTRACT FROM AUTHOR]

Financial inclusion has done its best across the world to bring unbanked people to the mainstream of financial and banking services. However, the metamorphosis is slow and needs some shots in the arm. This paper attempts to explore ways to expedite the process of economic development of the poor through financial inclusion. A newer technology, Open API for banking (OAB), can support financial inclusion for economic development and the growth of the poor. There are two main reasons for the success of OAB. Many mobile-based applications use OAB. Therefore, OAB can easily piggyback on the success of mobile penetration. The meager cost and simple technology of OAB is another reason for its success, primarily when OAB is aimed at unbanked people of the world. Structured Equation Modelling is applied to successfully and empirically test the mediation role of OAB between financial inclusion and economic development of the poor. OAB is found to have complete mediation. This work is the only study that links OAB with financial inclusion and the economic development of the poor. OAB stands out among all the other digitalisation tools of financial services due to its exclusive features. OAB has considerable implications to expedite the execution of financial inclusion for the economic development of the poor. But, to extend its full impact on the economic development of the poor, OAB should be clubbed with financial inclusion as a policy. Otherwise, a good opportunity will remain confined mostly as an effective solution for digitalising payment services. The digital divide is supposed to be bridged by OAB. However, this paper has not addressed this issue empirically. Besides this, the synergetic effect of FI and OAB, which is strongly recommended in the study, needs empirical testing. Both the limitation of the study is the future scope of the topic. No other study was observed on the topic, where OAB is suggested to bridge the gap between financial inclusion and economic development of the poor. The study has immense potential to change the course of action of the policy on Financial Inclusion. Using the findings of the study, the policymakers can embark upon using the new innovative technology in a more concerted way for the social upheaval of the poor in India. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to provide a critique of the institutional framework of the National Asset Reconstruction Company Limited (NARCL), India's "bad bank." Design/methodology/approach: The approach followed is the development of an economic model of the gains to trade of an Asset Reconstruction Company. Findings: Using an economic model, the paper shows that the rules of the game create an uneven playing field and are likely to lead to a systematic overpricing of nonperforming loans (NPLs). While this might increase the upfront cash received by the bank, it will come at the cost of higher liabilities for the government on account of the sovereign guarantee that is part of the proposed structure. The overpricing is also likely to act as an obstacle to efforts aimed at the revival of the distressed company. The NARCL could become a warehouse for NPLs subverting the objective of reconstruction. Practical implications: Solutions to create a vibrant market for NPLs are proposed. Originality/value: The Indian case is unique in the sense that a bad bank backed by the government has been introduced after almost two decades of the existence of similar entities in the private sector. To the best of the author's knowledge, this paper is the first that addresses the design of such a market using economic modeling. [ABSTRACT FROM AUTHOR]

The purpose of this study is to verify whether the transportation infrastructure investment carried out by the Asian Infrastructure Investment Bank (AIIB) has promoted the economic development of its recipient countries. Since the establishment of the AIIB, its investments in infrastructure development, aimed at promoting economic growth in Asian developing countries, have garnered considerable attention. This study selects India, the largest recipient country of the AIIB, as the research object and chooses the Gujarat Road Project as the research case, since it is a completed infrastructure construction investment project in the transportation field. This paper provides an overview of the project's operation and summarizes key factors in the project's implementation. In the data analysis section, the per capita GDP is selected as the explained variable to measure economic development, and the LASSO regression method is used to select several variables that affect economic development. Moreover, the random forest model is used to obtain the causal relationship between road construction and the per capita GDP from 2001 to 2022. The results indicate that road construction in India has a significant positive effect on per capita GDP growth, the Gujarat Road Project supported by the AIIB also has a positive effect on per capita GDP growth, and this effect is stronger than that at the national level. The main contribution of this work is the validation of the investment strategy of the AIIB and the quantification of the economic contribution of AIIB investment projects to the local area. [ABSTRACT FROM AUTHOR]

In recent years concerns have been raised regarding the environmental consequences of over-use of nitrogen fertilizers on a global level. However, the balance between sustainability and agricultural productivity, a central concern for policy makers in developing countries, has not been sufficiently addressed. In this paper, I evaluate farmers' fertilization practices and their effect on yield using unique plot level data from India. I estimate quadratic crop response functions for different crops and cropping systems. To address endogenous input choices, I use input prices and cost shifters from the fertilizer industry as instrumental variables for the fertilization practice. I find that a large share of Indian cultivators overuse nitrogen relative to the other two nutrients, and could benefit from simply reducing the amount of nitrogen used while keeping the other nutrients fixed. This suggests a potential win-win situation where both productivity and sustainability can be improved by changing fertilizer application. The widespread "nitrogen-only" fertilization pattern is rejected as optimal in most cases. [EconLit Citations: Q12, Q15, Q16, E23, C26, C14]. [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]

Existing studies have examined only the unidirectional impact of cultural diversity on the economic performance of countries, regions, and cities, not the other ways. They have assumed the diversity as given, while it may also grow, due to in-migration of workers and entrepreneurs, with economic growth and may be dependent on it. This paper models diversity and economic growth in a bi-directional causal frame and demonstrates that economic growth has a substantial impact on religious, language, and overall cultural diversities in the major states of India. However, the Granger causality between economic growth to language diversity and overall cultural diversity is found to be stronger and more widespread across the states than the causality from economic growth to religious diversity. The findings of this paper may have significant theoretical and empirical implications, as mainly the unidirectional way the impact of cultural diversity on economic growth has been advocated and the empirical studies have been modelled to date. [ABSTRACT FROM AUTHOR]

The Indo-Pacific region is believed to be of immense strategic significance given the dynamism of the region in propelling economic growth and cooperation between nations. However, the region has attracted significant attention from major powers and is being reimagined as a contested geo-political space. The emergence of the term has led to a restructuring of the popular perception in which the world has traditionally and strategically perceived this geographical area. This paper delves into the manner in which the India and Australia as important actors in the region conceptualize the 'Indo-Pacific' and how it has shaped India-Australia relations. [ABSTRACT FROM AUTHOR]

In this introductory paper of the Special Issue, we explore how India's political economy is moving in a new direction by focusing on three key political economy issues: development, welfare, and governance. India has undergone a substantial political transformation in recent years, especially since Bharatiya Janata Party led by Narendra Modi formed the first majoritarian government in three decades in 2014. In this paper, we first demonstrate that this political transformation has a significant impact on the Indian political economy, given that the country is witnessing the rise of a new developmentalism, a new welfarism, and the new modes of governance. After that, we summarize the collections of articles of the Special Issue and situate them in relation to our central theme, new directions in the Indian political economy. This paper, and this Special Issue more broadly, seeks to contribute to the existing literature by introducing new analytical frameworks to understand recent changes in the Indian political economy and providing new empirical evidence on this topic drawing on content analysis and field research. [ABSTRACT FROM AUTHOR]

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The Sustainable Development Goal (SDG) Target 10 aims at reducing inequalities in different aspects. The Niti Aayog of India has been monitoring progress achieved by different states and sets out a collaborative agenda. This paper specifically looks at the trends in Gini coefficient in different states, impact of high-income inequality on index of health in developed economies and how political ideology and progressive taxation policy can play a decisive role in thwarting the present disturbing trends. The paper brings out how income share of the 40% middle class in national GDP has come down after economic liberalization, while the share of top 10% has gone up significantly. In developed countries, acute income inequality seems to dampen the index of health and general well-being. The paper looks at Kuznet's inverted U curve hypothesis, which contends that after achievement of a high level of per capita income, inequality will come down, was proved to be un-true by Thomas Piketty. The paper brings out, how the Laffer Curve (1986) mooted by Arthur Laffer provided the economic justification for bringing down tax rate on top rich from 71% to 35% in the USA. The paper rebuts the general assumption that high tax rates would disincentive investment. The author recognizes that substantial increase in tax rates and high wealth tax in a market oriented political economy may not be a feasible proposition. In order to achieve distributive justice, greater attention to tools like progressive taxation, increasing investment in merit goods and ensuring shared prosperity must be seriously addressed. Also, a more proactive approach towards tax collection, rather than increasing borrowing would help to reduce income inequality. [ABSTRACT FROM AUTHOR]

China and India are both late comers to industrialization. Both adopted similar economic development strategies after World War II, but the per capita GDP diverged significantly in the last 40 years. While economic growth and development have many components, we explain the difference in economic performance by emphasizing the difference in state capacity in the two economies. A country's state capacity is affected by culture and history. China established a unified language and culture two thousand years ago that enabled it to develop strong state capacity. With a strong state capacity, China made crucial investments in infrastructure and in key heavy industries and developed technological capabilities to help start and sustain growth. India, on the other hand, is a country segmented by religion, caste, and language which has hindered the development of effective state capacity, and thus complementary state investments to spur economic growth. Moreover, India has up to now relied more heavily on expansion of its service sector compared to China, which has hindered its exports, a crucial element that helped China's economy. India's future industrialization crucially depends on national integration and concomitant strengthening of state capacity. [ABSTRACT FROM AUTHOR]

As education contributes to social and economic progress, a country's school and college policies must be well-defined and futuristic. In order to make their education systems effective, different nations use a variety of stages throughout their life cycle at the school and college levels, taking tradition and culture into consideration. India's new educational system intends the National Education Policy 2020 (NEP 2020) a multidisciplinary education, which was approved by the Union Cabinet on July 29, 2020. The previous National Policy on Education, 1986, has superseded the new policy. The policy provides a comprehensive framework for vocational training, elementary through higher education, in rural and urban India. By 2021, the policy intends to transform India's educational system. The government clarified shortly after the policy's release that no one will be required to study a particular language and that English will remain the medium of instruction, not any regional language. The language policy in NEP is a broad guideline and advisory in nature and the implementation is up to the states, institutions, and schools. India's education is on the Concurrent List. The first state to implement the NEP 2020 is Himachal Pradesh. By 2022, all Indian schools should be following the national educational policy. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the factors that lead to the failure of startups in India and proposes a 'Four Dimensional (4D) Strategic Framework' to drive success. Design/methodology/approach: This study is exploratory and uses a narrative analysis methodology to analyse the accounts of key startup stakeholders – founders, investors, former employees and consumers; to identify their failure factors. A conveniently selected sample of 165 startups was studied to understand better the reasons for their failure within a thematic framework developed from David Feinleib's (2012) handbook "Why Startups Fail". Findings: Results indicate that a dearth of capital or running out of money and inadequate sales and marketing strategy, which leads businesses to fall behind rivals and lose money on each transaction, are the most common factors for startup failure in India. Originality/value: "Startups" are substantial for emerging economies like India because they fuel technological innovation and economic progress and provide for the modern workforce's needs and aspirations. However, they seem to be typically unprofitable, with a modest probability of survival. Subsisting studies mainly focus primarily on success factors and very few on why startups fail, with significant disagreement on an appropriate methodology. To the best of the authors' knowledge, this is the first study that analyses failure factors of Indian startups using narrative analysis of its key stakeholders. It aims to aid the conception of profitable entrepreneurship by reducing the failure frequency in the startup and small business ecology. [ABSTRACT FROM AUTHOR]

Demographic profile of women in any country reflects the overall status of women. Economic development of any country significantly depends upon the participation rates of its women. Women's empowerment is crucial for raising their living standards and well-being. India is a country of diversity regarding the wide geographical, cultural and social variations. Haryana is known as one of the developed states of India, but even then there is prevailing much gender-based inequality and male dominance in all dimensions of life. The position of women in Mahendergarh district of Haryana is no better than the other districts of Haryana. The objective of the paper is to understand the demographic profile of women status in Mahendergarh District, Haryana as per Census 2011. It reveals the three main indicators sex ratio, women literacy and her work participation in the process of their empowerment with special attention to the gender perspective. This paper will examine the regional disparity of sex ratio, literacy rate and female work participation and the improvement of empowerment of women in the Mahendergarh district state of Haryana. [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 paper explores the aggregate economic effects from India's National Rural Employment Guarantee Scheme (NREGS), which provides up to 100 days of labor to rural laborers at the mandated minimum wage. We examine the within-district change to nighttime lights, a proxy for economic development, and banking deposits using the staggered program rollout for identification. We find consistent and robust evidence that NREGS increased aggregate economic output by 1% to 2% per capita measured by nighttime lights. This effect, however, is not equal across districts. We observe no positive effect of the program in poorer districts, illuminating an important source of heterogeneity. [ABSTRACT FROM AUTHOR]

India aims to become the world’s third largest economy (US$ 5 trillion) by 2025, a dream which was derailed to a certain extent because of the COVID-19 pandemic. There are several ways to achieving the target set, albeit with some time lag. One way to support the economy in such a high-pressure situation is through infrastructure development. A positive correlation between infrastructure development and economic development has been proved beyond doubt. Infrastructure development also supports socio-cultural development. The present paper is an attempt of understand the trends and status of infrastructure development in India. It is very important to take stock of the domestic situation in a global context, to have a more realistic picture and understand the gaps. The second part of the paper presents a comparative picture of infrastructure development in India and China. [ABSTRACT FROM AUTHOR]

Entrepreneurship has been recognised as an important factor of development and has been playing a crucial role in capital creation and accelerating economic growth in India. Women entrepreneurs are also increasingly contributing towards the economic growth. By Women Entrepreneurs we mean, women who are engaged in an act of business and business creation that empowers women economically, builds financial stability as well as create a position for themselves in the society. Although incredible opportunities exist, few business challenges as inadequate funds, lack of ICT (Information and Communication Technology) knowledge etc. deter women entrepreneurs. This paper attempts to find the potential of ICT to support women entrepreneurs' in business ventures, and address certain problems peculiar to women, since ICT has helped expansion of many businesses and carry it to the international level too in quite a short span of time as compared to conventional business practices. This paper uses the qualitative research strategy and primary data collected from women entrepreneurs of northeast and eastern India. The result highlights, that there is limited use of ICT by these entrepreneurs in their business operation in such areas as purchasing system, website designing, internal communication etc. The present study may provide insight to existing and prospective entrepreneurs in considering use of ICT for business expansion and may help policy makers in getting relevant information to provide a sound support and information system to women. Conducive legal and institutional provisions will help future growth of women entrepreneurs and will also motivate more in creating new ventures with new hope in the future and a win-win situation for all. [ABSTRACT FROM AUTHOR]

This paper discussed about FDI in education sector of Indian scenario. Foreign Direct Investment (FDI) has long been a source of concern for India. Although 100% FDI is allowed in the education sector by the government, it also has some obstructions or barriers in addition to its main benefits. The authors of this study have made an effort to highlight both the positive and negative effects of FDI on the education sector. In India, this is noted that education is key to developing the nation. It is also a well accepted fact that empowering young people with the right knowledge and skills can ensure societal advancement and economic growth. According to the Indian educational system, education plays a role in establishing values such as libertarianism, respect for majority rule traditions, universal liberties, and the pursuit of equity. [ABSTRACT FROM AUTHOR]

This paper explains the potential implications of digital interventions for social accountability through the Smart Cities Mission (SCM) in India. The SCM represents India's transition to a new political economy based on rapid urbanization and wide-scale application of digital technology to reform public service delivery while simultaneously creating new markets for urban transformation. Within this wider context, the paper considers the future of democratic practices in urban governance. We argue that while citizen-led accountability practices were trialed by civil society organizations since 1990s, the SCM presented unique opportunity and challenge to institutionalize these tools within the framework of multi-scalar governance — between central-, state- and local-level institutions and between communities, private vendors and public bodies. Zooming into the four smart city projects — Indore, Kakinada, Panaji and Ranchi — we explain how each city engaged with citizen groups, communities and civil society and what their experiences tell us about the prospects and challenges of democratizing digital urban futures. [ABSTRACT FROM AUTHOR]

Under what conditions do policy paradigms succeed in historically weak states? To answer these questions, this paper examines the subnational case of Bihar in India. The existing literature portrays Bihar as lacking capacity. Yet, between 2005 and 2010, astounding improvements have taken place in sectors of transparency and accountability and law & order. How do we explain this? This paper shows that ideas are consequential in initiating changes in policy paradigms. [ABSTRACT FROM AUTHOR]

This study examines the transformative role of self-help groups (SHGs) in the socioeconomic development of rural women in Cooch Behar District, India, and their contribution toward achieving Sustainable Development Goals (SDGs) of the United Nations. In this study, we explored the effect of SHGs on rural women by specifically addressing SDGs, such as no poverty (SDG 1), zero hunger (SDG 2), good health and well-being (SDG 3), quality education (SDG 4), and gender equality (SDG 5). Given this issue, a cross-sectional survey and comparison analyses are needed to assess the socioeconomic development of rural women and their awareness level before and after the participation of rural women in SHGs. The survey conducted as part of this study was divided into three sections, namely, demographic characteristics, socioeconomic development, and awareness level, with each focusing on different aspects. A group of 400 individuals who were part of SHGs completed the questionnaire survey form. The results showed that the participation of rural women in SHGs significantly improved their socioeconomic development and awareness level, as supported by both mean values and t test results. Memberships in SHGs and microcredit programs were the major elements that boosted the socioeconomic development of rural women, which also achieves SDGs 1, 2, 3, 4, and 5. This study revealed that participation in SHGs and related financial services significantly aided rural women in economically disadvantaged communities in accumulating savings and initiating entrepreneurial ventures. Moreover, participation in SHGs was instrumental in enhancing the self-confidence, self-efficacy, and overall self-esteem of rural women. Finally, doing so enabled them to move more freely for work and other activities and to make family and common decisions. [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]

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]

The quality of institutions indicates the level of economic development in the country. Institutions are a part of a system that is based on human interactions and that leads to the generation of incentives. These incentives can deal with uncertainties and foster economic, social, political growth, provided the human interactions are moderated well. This paper reflects on the strength of the interventionalist institutions like cooperatives in India and promotes institution building for a better future. The base of the paper focuses on the lessons learnt from dairy cooperatives in Gujarat state and discusses the current situation of the cooperatives and challenges faced by them. The cooperatives in India have been old institutions with a great history of success as also failures. Though there are various types of cooperatives in India, the dairy cooperatives have been able to gain more attention in the international market due to the Operation Floods I, II, and III. India has secured its position as one of the largest milk producers in the world. At present, India produces 20% of the total milk production in the world. This paper is a blend and analysis of theoretical perspectives and ground realities of the dairy cooperative sector in India. The paper follows theoretical perspectives from institutional theory to analyse the present scenario of dairy cooperatives in India. It addresses the gaps in the dairy cooperative development sector with an in‐depth analysis of ground realities and contributes to future policy formulation and interventions. [ABSTRACT FROM AUTHOR]

KHADI AND VILLAGE INDUSTRIES IS A MAJOR WING IN MSMES. THE PRESENT STUDY IS ANALYTICAL IN NATURE AND IS ENTIRELY BASED ON SECONDARY DATA. SECONDARY DATA RELATED TO THE PRODUCTION, SALES AND EMPLOYMENT OF KHADI& VILLAGE INDUSTRIES OF INDIA ARE COLLECTED FROM THE VARIOUS ANNUAL REPORTS OF MSMES GENERATED BY THE MINISTRY OF MSME, GOVERNMENT OF INDIA AND ANNUAL REPORTS OF KHADI AND VILLAGE INDUSTRIES COMMISSION (KVIC). THE ANNUAL REPORTS OF THE MSME SECTOR FROM 2010-11 TO 2020-21 HAS BEEN ANALYZED AND EVALUATED TO DRAW THE CONCLUSION. THE PURPOSE OF THIS STUDY IS TO ANALYSE THE GROWTH AND DEVELOPMENT OF KHADI AND VILLAGE INDUSTRIAL SECTOR IN TERMS OF PRODUCTION, SALES AND EMPLOYMENT GENERATION. AS WELL AS IT STUDIES THE BUDGET SUPPORT TO THE KVIC SECTOR BY THE GOVERNMENT. DATA INDICATE THAT THE KVI SECTOR MADE A MAJOR CONTRIBUTION TO EMPLOYMENT. HOWEVER, THIS SECTOR IS PERFORMING WELL, WITH INCREASING PRODUCTION AND SALES. COMPARED TO OTHER INDUSTRIES, THE KVI GROWTH IS SLOWER THAN OTHER SECTOR INDUSTRIES. IN THE KHADI SECTOR, EMPLOYMENT IS LOWER THAN AVERAGE. IT IS REPORTED THAT ALMOST 95% OF THE YEARLY BUDGET'S MONEY HAVE BEEN DISBURSED. FOR CALCULATION OF RESULTS OF CORRELATION HAS BEEN USED AND CONCLUDED THAT PRODUCTION AND SALES KHADI SECTOR AND VILLAGE INDUSTRY IS POSITIVELY HIGHLY CORRELATED. TO IMPROVE THE RURAL ECONOMY AND CREATE JOBS IN RURAL REGIONS, THE GOVERNMENT HAS TAKEN A NUMBER OF STEPS IN THE DIRECTION OF THE KVI SECTOR. DESPITE THE FIERCE COMPETITION, THE ENTIRE PERFORMANCE OF KHADI AND VILLAGE INDUSTRIAL SECTOR HAS BEEN OUTSTANDING. SALES AND PRODUCTION ARE ENCOURAGED BY THE KHADI AND VILLAGE INDUSTRIAL COMMISSION THROUGH THE IMPLEMENTATION OF SEVERAL PLANS FOR THE KVI SECTOR. [ABSTRACT FROM AUTHOR]

Are well-functioning formal judicial institutions important for economic development, or can informal contracting arrangements provide adequate substitutes? This paper aims to answer this question using variation across industries in their reliance on contracts along with variation across Indian states in the average speed of courts. The identification strategy is motivated by theory from the incomplete contracting literature, in which it is argued that transactions involving relationship-specific investments are more exposed to postcontractual opportunism and hence have greater need for efficient contract enforcement. The paper finds that the interaction between state-level court efficiency and industry-level relationship specificity is highly predictive of future growth in India's formal manufacturing sector. The threat of omitted variable bias is minimized by the inclusion of state and industry fixed effects, while a number of robustness checks and placebo tests rule out competing explanations and provide additional confidence in the hypothesized mechanism. [ABSTRACT FROM AUTHOR]

Indian economy is the agricultural economy and real India is in the villages. Without rural economic development, the objectives of economic planning cannot be reached. So, banks and other financial institutions are considered a vital role in rural economic development in India. NABARD is playing a vital role in the economic development of rural India. A developing country, like India, ought to be an ideal environment for micro-finance programmes seeking to reach the poor and attain financial sustainability. Microfinance is regarded as a central poverty alleviation strategy and a means of deriving economic growth and employment of small, micro & medium enterprises (SMME). A complex set of best practice models and a network of active members and support of rural people in an organized form and the active support of banks and NABARD in India have emerged to support a thriving industry. Bank credit is available to farmers under the short-term credit for the shape of agricultural products and financial programs such as the medium-term/long-term debt financing for capital investments in agriculture and related activities such as land, including land purchases, minor irrigation, farm mechanization, program development, the domestic poultry animals, fishing, plantation, and horticulture. The loans are available for storing, processing and marketing agricultural products needed now days the long-term and short-term credit of these institutions are also achieved by the National Bank for Agriculture and Rural Development (NABARD). It is the evolution of agricultural finance. In this paper, an attempt has been made to understand the concept of rural finance in India and the role of NABARD in the priorities of the credit sector and also various programs initiated by the NABARD for the sustainable development of rural India. The study could also lead to the strengths and weaknesses of Rural Finance in India. [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]

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]

Tourism industry has been defined as one of the largest and fastest growing industries. This industry is also considered to be one of the ancient industries of the world. Tourism industry in India is experiencing a boom at the moment. India has tremendous potential to become a major global tourist destination and Indian tourism industry is exploiting this potential to the hilt. A state like Rajasthan has all the elements to become a model state for tourism in the country. It has a rich cultural heritage and the tourists from all over the world visit it due to its climate, scenic beauty and ecological resources. The statistical figures reveal that Rajasthan gets the lion's share of total tourist arrivals, both foreign and domestic, due to its special climate and culture. The present paper assesses the impact of tourism demand on the economic development of Rajasthan. The paper measures the economic development of Rajasthan in terms of Gross State Domestic Product. It assesses the impact of tourism on various developmental activities. Various statistical techniques such as correlation, regression and neural network are used to measure the relation between these two factors. [ABSTRACT FROM AUTHOR]

An important aspect of economic considerations is the routing and safety of hydraulic storage facilities such as dams for extreme probable water flooding. The routing of dam reservoirs requires more attention for determining the magnitude of extreme probable flooding. Apparently, the type of structure, importance, and economic development of the surrounding area guide the routing criteria for choosing the extreme flood magnitude. The Maithan and Panchet Dams in India have faced several major floods with diversified magnitudes since 1978. The present study aims to estimate the storage and routing of extreme probable floodings for these two dams based on real-time flood data like inflow, outflow, and elevation for the extreme flood years of 1978, 2009, and 2014. Reservoir storages at different elevations are calculated from the initial storage volumes. For both reservoirs, discharge equations are derived and calculated at given elevations during extreme floods. The Modified Puls technique is used for routing extreme floods. At the end of each extreme flood in 1978, 2009, and 2014, the variation in outflow discharges at different elevations and flood hydrographs is predicted. Finally, estimated outflow discharges are compared with the actual outflow discharges for the given inflows during extreme floods. Using this approach, extreme floods that occurred in 1978 are predicted with less than 10% error. Outcomes from this study may help in the future planning and routing of flood-control detention facilities and in predicting the variation in outflow discharges at different elevations. Based on this work, alternative studies and regional drainage planning can also be carried out. [ABSTRACT FROM AUTHOR]

The urban transition is generally imagined as a large-scale permanent migration of people from villages to cities. The formation of new cities is also theorized as occurring through the migration of people. However, recent scholarship implies that parts of India may be witnessing an urbanization process that depends on natural population growth rather than in-migration. This claim carries significant implications for urban theory, but it has never been tested empirically. This article addresses that gap by examining migration patterns in India alongside urbanization—measured in terms of densification of population and built-up area and an economic transition away from agriculture. I find that certain parts of the country, notably the eastern Indo-Gangetic Plain, are exhibiting all the trends constitutive of urbanization even as they experience negative net migration—a phenomenon I term "urbanization from within." My analysis also highlights that these same regions see high rates of temporary out-migration—suggesting that human mobilities may play a role in the in situ urbanization of rural settlements, but not in the ways that foundational urban and development theories would predict. I discuss the inequalities of India's economic transition and its spatial regime of social welfare as possible causal underpinnings of the trends I observe. The article's findings suggest that urban social scientists should reevaluate long-held assumptions about the relationship between urbanization and migration in the context of 21st-century urban transitions. [ABSTRACT FROM AUTHOR]

The link between FDIs and economic growth has been analysed in order to examine the performance of FDIs in the Indian economy. FDI Equity Inflows and GDP are used as proxy for India's foreign direct investment and economic development. In order to examine the connection between FDI and GDP between 1991-92 and 2016-17, is both short-term and long-term. In other words, the main prerequisite for sustainable economic development in the Indian economy is foreign direct investment. [ABSTRACT FROM AUTHOR]

This study looks at how important private banks are to the expansion of the Indian economy. Private banks have become major actors in the Indian banking industry during the last few decades, offering a wide range of financial services and making innovative contributions to the country's economic growth. The purpose of this study is to examine how private banks contribute to economic growth. Specifically, it will look at how they promote entrepreneurship, improve financial inclusion, and aid in the development of infrastructure and industry. By facilitating easier access to credit for both individuals and enterprises, private banks have made a substantial contribution to the Indian economy by encouraging entrepreneurship and job creation. Their technical innovations and competitive strategies have raised consumer happiness and efficiency in the banking industry. Furthermore, by providing banking services to underserved and rural areas, private banks have been instrumental in promoting financial inclusion by drawing more people into the formal financial system. The research also emphasizes the difficulties that private banks encounter, including regulatory barriers, rivalry from public sector banks, and the requirement for ongoing technology advancements. Notwithstanding these obstacles, private banks continue to have a significant overall influence on economic growth, highlighting their significance in the financial system. Because they promote financial innovation, inclusivity, and general economic development, private banks are essential to the expansion of the Indian economy. The purpose of this study is to support policies and regulatory frameworks that will further strengthen the role of private banks in India's economy and ensure inclusive and sustainable growth. [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]

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]