Department of Humanities and Social Sciences, Visvesvaraya National Institute of Technology, Nagpur, 440010, India.
Department of Economics, Indian Institute of Management, Bodh Gaya, Bihar, 824234, India.
Environ Sci Pollut Res Int. 2024 Apr;31(17):25907-25928. doi: 10.1007/s11356-024-32756-6. Epub 2024 Mar 15.
Asian countries are facing difficulties in attaining sustainable development goals (SDGs), and India is not an exception to it, with environmental degradation being one of the primary issues. Therefore, a policy-level reorientation may be required to address it. From this standpoint, fiscal policy instruments may come in handy towards fully integrating the SDGs into its agenda. The present investigation designs an SDG framework for India that could serve as an example for other Asian nations. This study introduces a new investigation exploring the relationship between fiscal policy instruments and environmental quality in India by examining the environmental Kuznets curve (EKC) hypothesis from 1990 to 2021. A nonlinear autoregressive distributed lag (NARDL) model is applied for empirical examination. The findings indicate that positive and negative shocks in fiscal policy instruments have significant impact on carbon emissions in both the long and short run. The study has also found evidence of an "inverted U-shape" EKC for India. These results are valuable from a policy perspective for India and other Asian countries to address environmental issues. The study has also outlined potential outcomes that may benefit India's fiscal policy in resolving environmental issues and attaining better economic growth. In the end, the study proposes a policy framework that supports SDG 7, SDG 8, SDG 12, SDG 13, and SDG 17 objectives.
亚洲国家在实现可持续发展目标（SDGs）方面面临困难，印度也不例外，环境恶化是主要问题之一。因此，可能需要在政策层面进行重新定位以解决这个问题。从这个角度来看，财政政策工具可能有助于将可持续发展目标全面纳入其议程。本研究为印度设计了一个可持续发展目标框架，可以为其他亚洲国家提供范例。本研究通过检验印度 1990 年至 2021 年期间的环境库兹涅茨曲线（EKC）假说，引入了一项新的研究，探讨了财政政策工具与印度环境质量之间的关系。采用非线性自回归分布滞后（NARDL）模型进行实证检验。研究结果表明，财政政策工具的正向和负向冲击对长期和短期的碳排放都有显著影响。该研究还发现印度存在环境库兹涅茨曲线的“倒 U 型”证据。这些结果从印度和其他亚洲国家的政策角度来看具有价值，可以解决环境问题。研究还概述了印度财政政策在解决环境问题和实现更好经济增长方面可能产生的潜在结果。最后，研究提出了一个支持可持续发展目标 7、8、12、13 和 17 目标的政策框架。
