A Descriptive Study of Role of Green Finance in Linkage of Sectoral Development and their Driving Forces through Private Sector Banks: Vision India 2047

As, the planet faces the challenge of climate change therefore there is a need of significant shift of incorporating green finance into the economy. In 2047, India will complete its 100 year of democracy and the major goal is to become the developed nation from developing one. The green finance is one of the fastest growing industries. This paper aims to study the role of green finance in the development and growth of different sectors and their driving forces through banking sector. There is a target of achievement of sustainable goals by 2030 and become the $4.5 trillion economy by 2040. The fiscal landscape and financial sector are evolving drastically and act as an engine for the economy. Although, worldwide limited researches have been explored in the area of environmental responsibility in developing nations. The research paper focused on the holistic approach of other disciplines such as management process, marketing and finance with the alignment of banking sector and sectoral development. The paper emphasised on the major holistic dimensions of growth through banking sector. The paper studies the foremost benefits and outcomes of green recovery and their significant contribution to the achievement of environmental goals through urbanisation and industrialization. This study is based on secondary data and descriptive in nature. The primary objective of the study is to find the pavement of way for the initiatives in green infrastructure in various sector through banking system and the analysis of various challenges that creates hurdles in the economic growth. The findings offer compelling evidence for policymakers, financial institutions and sectoral development as green financing may result in more robust financial system.