Analyzing India's coal, natural gas, and biomass energy consumption: Evidence from a Fourier technique to promote sustainable development

Abstract

AbstractInalignment with the United Nations Sustainable Development Goals (UN‐SDGs),which pinpoint vital aspects such as SDG‐7 and SDG‐8, this study delves intothe impact of biomass energy on economic growth in the Indian context. It alsoconsiders the roles of fossil fuels, specifically natural gas and coal. Toaccomplish this, a comprehensive analysis is initiated, making use of annualdata spanning from 1975 to 2022. A unique Fourier ARDL test serves as a centralanalytical tool alongside the Fourier Toda Yamamoto test. The empirical resultsunveil the presence of co‐integration among the variables scrutinized. Moreover,it becomes evident that coal and biomass make positive contributions toeconomic growth, whereas natural gas appears to exert a negative influence oneconomic growth. To validate these findings, a Fourier‐based Toda‐Yamamoto testis applied, demonstrating that natural gas, coal, and biomass possesspredictive capabilities concerning economic growth. These discoveries carrysubstantial implications for comprehending the factors influencing economicgrowth in India.