International Journal For Multidisciplinary Research

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The Implementation of Green Credit Program from Macro to Micro in India: Economic, Environmental, and Social Impact

Author(s) ABHAY PRATAP SINGH CHAUHAN, NAGENDRA PRATAP SINGH
Country India
Abstract This research explores the Green Credit Program (GCP) in India, an innovative financial mechanism designed to foster sustainable development while addressing pressing economic, environmental, and social challenges. Launched by the Ministry of Environment, Forest and Climate Change (MoEFCC), the GCP aims to incentivize environmentally beneficial activities, promoting investments in renewable energy, afforestation, sustainable agriculture, and other green projects. This study assesses the program's economic, environmental, and social impacts through a mixed-methods approach, combining econometric analysis and case studies. The findings suggest that the GCP contributes to India's GDP, significantly reduces greenhouse gas (GHG) emissions, and enhances social welfare, although it faces regulatory and financial challenges. The research also advocates for integrating parallel sustainability programs for greater efficiency.
Keywords Green Credit Program (GCP), Sustainable Development Finance, Green Financing Mechanisms, Economic Impact of Green Bonds, Environmental Policy Integration, Renewable Energy Investments, Greenhouse Gas Emissions Reduction, Afforestation and Conservation, Social Welfare and Green Financing, Economic Growth and Sustainability, Green Credit Incentives, Rural Employment and Green Projects, Public Health Improvement through Green Initiatives, Poverty Alleviation through Sustainable Development, Regulatory Challenges in Green Finance, Financial Sector Innovations, Endogenous Growth and Green Investment, Public Awareness in Environmental Programs, India’s Climate Action Framework, Impact of Green Credit on GDP
Published In Volume 6, Issue 5, September-October 2024
Published On 2024-09-17
Cite This The Implementation of Green Credit Program from Macro to Micro in India: Economic, Environmental, and Social Impact - ABHAY PRATAP SINGH CHAUHAN, NAGENDRA PRATAP SINGH - IJFMR Volume 6, Issue 5, September-October 2024. DOI 10.36948/ijfmr.2024.v06i05.27596
DOI https://doi.org/10.36948/ijfmr.2024.v06i05.27596
Short DOI https://doi.org/gzwpv3
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