The Implementation of Green Credit Program from Macro to Micro in India: Economic, Environmental, and Social Impact

This research explores the Green Credit Program (GCP) in India, an innovative financial mechanism designed to foster sustainable development while addressing pressing economic, environmental, and social challenges. Launched by the Ministry of Environment, Forest and Climate Change (MoEFCC), the GCP aims to incentivize environmentally beneficial activities, promoting investments in renewable energy, afforestation, sustainable agriculture, and other green projects. This study assesses the program's economic, environmental, and social impacts through a mixed-methods approach, combining econometric analysis and case studies. The findings suggest that the GCP contributes to India's GDP, significantly reduces greenhouse gas (GHG) emissions, and enhances social welfare, although it faces regulatory and financial challenges. The research also advocates for integrating parallel sustainability programs for greater efficiency.