Study on Quality of Air and Economic Development in India: An Argument for Sustainable India

Abstract

In the last few decades, air pollution hand come as a major global conscience regarding the current impact of both air pollution and climate change on human health. Extreme climate events (heavy rainfall, high temperatures, floods, and droughts) in rapidly growing urban areas endanger human health and economic development. In this study, we find whether there is a relationship between the Quality of air and economic development which take time series data from 1990 to 2019 is used to find the link or effect between air pollution and economic development in India which is examined by Autoregressive Distributed Lag (ARDL) methodology. NO2 (Nitrous oxide) emissions and CO2(carbon dioxide) emissions were employed for Quality of air (Air pollution) and the Gross Domestic Product served for economic Development (GDP). Empirical evidence indicates that emissions of CO2 and NO2 have an insignificant and inverse impact on the Gross domestic product, respectively, GFCF (Gross fixed capital formation) i.e., Domestic Investment has a significantly beneficial effect on economic development (GDP). Based on the results it is advised the adoption and proper execution of additional regulations like the tax on the usage of carbon dioxide for some specific industries releasing substantial levels of greenhouse emissions. Additionally, funds raised from this type of tax ought to be used to fund initiatives that would increase the employment opportunities and economic development of the country.