Are the financial inclusion schemes of India developing the nation sustainably?

Abstract

Introduction- India is the world’s largest democracy which has a prominent place in the world. It is proliferating and financial inclusion schemes of government as a piece of evidence for that. However, the development of any nation on the planet should not be at the cost of environmental degradation. There are indeed substantial ties between climate change and sustainable development. Evidence has shown over several decades that global temperatures are on the rise, mainly due to fossil fuel burns. Methodology- For meeting research objectives, a pooled data of variables extracted from the review of literature is constructed. Later by applying PLS-Algorithm on the constructed dataset, conclusions are made. Value- This research will develop insight into whether the financial inclusion scheme of government is sustainably developing the economy or not. Result- There exists a significant relationship between financial inclusion and CO2 emissions, which concludes that financial inclusion schemes of government are not doing sustainable development. Conclusion- There is an urge to link financial inclusion schemes with sustainable development.