This paper discusses the concept issues and challenges before sustainable development of India and government policy towards financial inclusion. While achieving the objectives of sustainable development various issues are there in each geographical part of India that are discussed in this paper. Secondly the Challenges faced by the economy, while achieving the object of sustainable livelihood for the citizens. At a macro level, greater financial inclusion can support sustainable and inclusive socio-economic growth for all.
An inclusive financial system supports stability, integrity and equitable growth.
and lastly conclusion is made with some suggestions.
Key words: Sustainable Development, Poverty eradication, Environmental protection, financial inclusion.
Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs. The main pillars of sustainable development are economic development which includes development in education active participation of women, good governance, environmental protection and prevention of environmental degradation.At a macro level, greater financial inclusion can support sustainable and inclusive socio-economic growth for all.An inclusive financial system supports stability, integrity and equitable growth. . While achieving the object of sustainable development there are some challenges the economy is facing. Like global warming, and change in climate, health problems, heavy rainfall, draught, food security and so on.
Objective of the study:
In this study secondary data is used from various sources like books, journals, magazines, reports news papers, websites etc. The data related to sustainable development and challenges before it was collected from above sources and analyzed, interpreted and concluded.
Article 21 of constitution of India on the one hand talks of sustainable development for the upliftment of Indian economy and on the other hand it advocated the right to live with dignity. To maintain a good blend between the both requires a considerable effort and research so as to provide both lives with dignity as well as development.The development is not only economic development but it includes the whole spectrum of civil, cultural, economic, political and social process for the improvement of peoples well being and realization of their full potential. Thus the sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
Following are some approaches towards achieving sustainable development:
Water and sanitation:
Prevent water pollution to reduce health hazards Protect ecosystem Introduce technologies for affordable sanitation industrial and domestic wastewater treatment River basin , watershed and ground water management
Focus on access to energy in rural areas Energy conservation and energy efficiency
Promotion of renewable energy Action on climate change
Reduce mortality rates in 2015 by 66.7% for children and infants under 5 by 75% for maternal mortality rates Control and eradicate communicable diseases , reduce HIV prevalence, combat malaria, tuberculosis
Reduce air pollution
Address serious soil fertility problems Diversification of crops Increase water use productivity. Apply Research and Development to increase productivity in crops and livestock.
Some of the key reasons resulting in involuntary exclusion are:
To achieve the vision of ensuring access to an array of basic formal financial services, a set of guiding objectives have been formulated with special relevance in the Indian context.
Global temperature have risen by 0.74 C over the last century the largest and fastest warming in the history of the earth detected by scientists. The trend is accelerating. And has affected all continents and most oceans. Temperatures could rise by 3C over pre industrial levels by the end of the century. Most impacts in the short to medium term will come from increased variability of weather and more frequent and extreme events like storms, droughts floods heat waves.
Natural resources :
Commodity prices have soared over the last decade and nearly doubled for energy and industrial inputs, foods prices have risen sharply after an almost continuous decline over three decades. The consumption pattern of India and china has been changed. Food security is a major international concern; Agriculture section is facing challenges of climate change, heavy rainfall, draught etc
Employment impacts of climate change:
More than 70% people of India are depending upon agriculture sector; climate change poses a threat to the livelihoods of rural people. Another weather dependent sector is tourism where employment has been growing fast. It also affects on the health of the people. In all the three agriculture tourism and health, women are likely to be affected more than men.
From the above discussion it can be concluded that climate change, global warming is directly related to the way we work and ultimately can only be stopped by changing the way we works. The policies to achieve such a major transformation will thus require close collaboration across a number of policy fields. There is need of technological innovations investment opportunities, enterprise and quality job creation for the sustainable livelihood. Further in order to achieve the goal of sustainable development some steps are to be taken like introducing a green budget, sustainable agriculture practices, sustainable industrial practices, sustainable usage of natural resources, reducing global wastage, global co-operation and efforts, financial inclusion financial literacy, investment in human capital and jobs to achieve social sustainability