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This chapter aims to investigate how government spending (GOVEXP), human capital development (HCD), and financial inclusion (FI) affect India's sustainable economic growth (SEG) from 1990 to 2023. A quantitative study design was used to study how human capital growth and financial stability interact to influence this increase. The study, which employed the autoregressive distributed lag (ARDL) approach, discovered a favourable correlation between financial inclusion, government expenditure, HCD, and economic growth. Through HCD, inclusion of financial services contributes to sustainable economic growth. The objective for financial inclusion must be continuously enhanced, and human capital development must be promoted, in order to increase sustainable economic growth in India.

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The Role of Capital Markets in Promoting Financial Inclusion

  • 章节

  • 发表日期：

    2025年

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  • Palanisamy Manigandan,
  • Khaliquzzaman Khan

摘要

This chapter aims to investigate how government spending (GOVEXP), human capital development (HCD), and financial inclusion (FI) affect India's sustainable economic growth (SEG) from 1990 to 2023. A quantitative study design was used to study how human capital growth and financial stability interact to influence this increase. The study, which employed the autoregressive distributed lag (ARDL) approach, discovered a favourable correlation between financial inclusion, government expenditure, HCD, and economic growth. Through HCD, inclusion of financial services contributes to sustainable economic growth. The objective for financial inclusion must be continuously enhanced, and human capital development must be promoted, in order to increase sustainable economic growth in India.