ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Shouvik ChakrabortySubscribe to Shouvik Chakraborty

An Egalitarian Green Growth Programme for India

This paper explores the interrelationships in India between economic growth, expanding employment opportunities and the imperative of dramatically reducing CO2 emissions. Specifically, it shows that within a framework of economic growth, the Indian economy can both expand employment opportunities for workers, peasants and the poor while also reducing CO2 emissions. The model assumes that India grows at an average annual rate of 6.0% over a 20-year period. Within this framework, it proposes that India increase its annual total of public and private investments in energy efficiency and clean renewable energy sources by 1.5% of gross domestic product. The paper finds that India will achieve dramatic CO2 emissions reductions and generate major gains in employment opportunities by undertaking these clean energy investments, as opposed to maintaining the economy's existing fossil-fuel based energy infrastructure. India could accomplish these goals while also eliminating entirely its reliance on nuclear power.

The Challenges before NABARD in the Midst of RBI's Sterilisation Policy

Have huge inflows of speculative capital in the post-reform period affected the role of development institutions and banks like the National Bank for Agriculture and Rural Development, the apex bank for institutional credit in rural India? In order to prevent a possible appreciation of the currency, which would have had an adverse effect on the real sector of the economy, the Reserve Bank of India resorted to market intervention and the increase in the foreign exchange reserves, which would have caused a possible increase in the money supply, was neutralised by undertaking a "sterilisation" process. In the process, the rbi suffered a huge loss in its potential income and had to resort to a smaller transfer of funds to nabard. On the other hand, nabard, faced with an increasing demand for loans turned to open market borrowings at a higher interest rate, which ultimately led to a huge loss in its potential income. This paper finds that with the ongoing reforms, the banking system has not only sacrificed developmental aspects, but also failed to satisfy the profit norms of banking.

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