Abstract
Objective – This paper argues the retrospective effect of foreign investment inflow. The FDI not only causes economic growth in the nation also it vindicate the societal development in the host nation. It is assumed that FDI does affect societal development either directly or indirectly also it can be constructive or dubious. Methodology – The societal development indicators have been taken for the study such as access to electricity, refugee population, and total natural resource on rent. The Ordinary Least Square (OLS) method used for regression analysis, Augmented Dickey-Fuller (ADF) used to analyse stationarity and Autoregressive Distributive Lag (ARDL) used for empirical results. Findings – The result shows the consistency in FDI inflows, but all the taken indicators have not experienced the positive effect of FDI on the societal development of a nation. Novelty –Also, the policies of the government and initiative related to foreign investment inflow have major impact on societal growth in the nation. Type of Paper: Empirical Keywords: Electricity; FDI; India; Natural Resources; Refugee Population; Societal Development Reference to this paper should be made as follows: Muthusamy, A; Negi, R. 2020. Does Foreign Direct Investment Induces Societal Development in India?, J. Fin. Bank. Review, 5 (1): 32 – 38 https://doi.org/10.35609/jfbr.2020.5.1(4) JEL Classification: A1; E01; M14; M16
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