WIDENING ECONOMIC DISPARITIES IN INDIA: CHALLENGE FOR INCLUSIVE DEVELOPMENT
Keywords:
economic, disparities, widening, India, challenge, inclusive, development, India
Abstract
The Indian growth story has been far from perfect. That is not an understatement by any stretch of imagination. A growing challenge for the economy is the fast-evolving problem of inequality. Most recently, James Crabtree in his latest book, "The Billionaire Raj", claims that "India is one of the world's most unequal countries." His claim is based on the fact that the billionaire wealth as a proportion of the entire country's output is the highest for India, except for Russia. The latest human development rankings released last week also corroborate his findings. India already ranks a lowly 130 on the index out of 189 countries but when adjusted for inequality, the scores experience a drastic fall of almost 27 percent against a world average of 20 percent. What explains India's dismal performance on the inequality front? Why don't other developing countries face a similar problem? To put it simply, economic growth in India has not been inclusive enough. All the hype about the country's fast-paced economic growth has not percolated down through the economy.
References
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Christina O and Robiyanto. (2018). The Effect Of Financial Performance And Firm Size On Stock Prices Of Manufacturing Company In 2013-2016. Prosiding SENDI, 2007, 559–563.
Dewi, K., & Monalisa, M. (2016). Effect of Corporate Social Responsibility Disclosure on Financial Performance with Audit Quality as a Moderating Variable. Binus Business Review, 7(2), 149–155. https://doi.org/10.21512/bbr.v7i2.1687
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Fajriana, A., & Priantinah, D. (2016). Pengaruh Corporate Social Responsibility, Keputusan Investasi, Dan Struktur Modal Terhadap Nilai Perusahaan. Nominal, Barometer Riset Akuntansi Dan Manajemen, 5(2). https://doi.org/10.21831/nominal.v5i2.11721
Gautam, R., Singh, A., & Bhowmick, D. (2016). Demystifying relationship between Corporate Social Responsibility (CSR) and financial performance: An Indian business perspective. Independent Journal of Management & Production, 7(4), 1034–1062. https://doi.org/10.14807/ijmp.v7i4.443
Giannarakis, G., Konteos, G., Zafeiriou, E., & Partalidou, X. (2016). The impact of corporate social responsibility on financial performance. Investment Management and Financial Innovations, 13(3), 171–182. https://doi.org/10.21511/imfi.13(3-1).2016.03
Gnanaweera, K. A. K., & Kunori, N. (2018). Corporate sustainability reporting: Linkage of corporate disclosure information and performance indicators. Cogent Business and Management, 5(1). https://doi.org/10.1080/23311975.2018.1423872
H Manurung, D. T., Manurung, D. T., Wedi Rusmawan Kusumah, R., Hapsari, D. W., & Husnatarina, F. (2017). Effect of Corporate Governance, Financial Performance and Environmental Performance on Corporate Social Responsibility Disclosure. International Journal of Arts and Commerce, 6(5). www.ijac.org.uk
Haninun, H., Lindrianasari, L., & Denziana, A. (2018). The effect of environmental performance and disclosure on financial performance. International Journal of Trade and Global Markets, 11(1–2), 138–148. https://doi.org/10.1504/IJTGM.2018.092471
Horváthová, E. (2012). The impact of environmental performance on firm performance: Short-term costs and long-term benefits? Ecological Economics. https://doi.org/10.1016/j.ecolecon.2012.10.001
Iwata, H., & Okada, K. (2011). How does environmental performance affect financial performance? Evidence from Japanese manufacturing firms. Ecological Economics, 70(9), 1691–1700. https://doi.org/10.1016/j.ecolecon.2011.05.010
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Nawaiseh, M. E. (2015). Do firm size and financial performance affect corporate social responsibility disclosure: Employees’ and environmental dimensions? American Journal of Applied Sciences, 12(12), 967–981. https://doi.org/10.3844/ajassp.2015.967.981
Ngoc, N. B. (2018). The Effect of Corporate Social Responsibility Disclosure on Financial Performance: Evidence from Credit Institutions in Vietnam. Asian Social Science, 14(4), 109. https://doi.org/10.5539/ass.v14n4p109
Nor, N. M., Bahari, N. A. S., Adnan, N. A., Kamal, S. M. Q. A. S., & Ali, I. M. (2016). The Effects of Environmental Disclosure on Financial Performance in Malaysia. Procedia Economics and Finance, 35, 117–126. https://doi.org/10.1016/s2212-5671(16)00016-2
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Prof. H. Imam Ghozali, M.Com, Ph.D, CA, A. (2016). Aplikasi Analisis Multivariate (9th ed., pp. 179–180). Badan Penerbit Universitas Diponegoro.
Rahayu, H. R., & Sarsiti. (2016). The Influence of Environmental Performance and Corporate Social Responsibility Towards Financial Performance on Manufacture Companies Listed BEI period 2011-2013. Jurnal Penelitian Dan Kajian Ilmiah Fakultas EKonomi Universitas Surakarta (SMOOTING), 14(4), 49–59.
Rodriguez-Fernandez, M. (2016). Social responsibility and financial performance: The role of good corporate governance. BRQ Business Research Quarterly, 19(2), 137–151. https://doi.org/10.1016/j.brq.2015.08.001
Sarumpaet, S. (2005). The Relationship Between Environmental Performance and Financial Performance of Indonesian Companies. 89–98. http://www.petra.ac.id/~puslit/journals/dir.php?DepartmentID=AKU
Sujoko, S. (2017). Pengaruh Struktur Kepemilikan, Strategi Diversivikasi, Leverage, Faktor Intern dan Faktor Ekstern Terhadap Nilai Perusahaan (Studi Empirik Pada Perusahaan Manufaktur Dan Non Manufaktur Di Bursa Efek Jakarta). EKUITAS (Jurnal Ekonomi Dan Keuangan), 11(2), 236. https://doi.org/10.24034/j25485024.y2007.v11.i2.2236
Szegedi, K., Khan, Y., & Lentner, C. (2020). Corporate social responsibility and financial performance: Evidence from Pakistani listed banks. Sustainability (Switzerland), 12(10), 1–19. https://doi.org/10.3390/SU12104080
The Ministry of Environment and Forstry Republic Indonesia. (2019). Proper 4.0.
Tunggal, W. S. P., & Fachrurrozie. (2014). Pengaruh Environmental Performance, Environmental Cost, dan CSR Terhadap Financial Performance. AAJ, 3(3), 310–320. http://journal.unnes.ac.id/sju/index.php/aaj
Tzouvanas, P., Kizys, R., Chatziantoniou, I., & Sagitova, R. (2019). Environmental and financial performance in the European manufacturing sector: An analysis of extreme tail dependency. British Accounting Review. https://doi.org/10.1016/j.bar.2019.100863
Wu, W., & Ullah, R. (2020). Linking Corporate Environmental Performance to Financial Performance of Pakistani Firms : The Roles of Technological capability and Public awareness. Sustainability (Switzerland), 1–18. https://doi.org/10.3390/su12041446
Wufron. (2017). Pengaruh Ukuran Perusahaan Terhadap Kinerja Keuangan Serta Implikasinya Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia. Jurnal Wacana Ekonomi, Fakultas Ekonomi, Universitas Garut, 16(3), 22–33. www.jurnal.uniga.ac.id
Published
2020-06-30
How to Cite
Yadav, D. A. K. (2020). WIDENING ECONOMIC DISPARITIES IN INDIA: CHALLENGE FOR INCLUSIVE DEVELOPMENT. International Journal on Economics, Finance and Sustainable Development, 2(4), 106-115. https://doi.org/10.31149/ijefsd.v2i4.696
Section
Articles
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