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INTERNATIONAL JOURNAL OF GLOBAL RESEARCH INNOVATIONS & TECHNOLOGY (IJGRIT) [ Vol. 4 | No. 1 | January - March, 2026 ]

Ethical AI, Digital Finance and Smart Governance: Building a Sustainable Digital Economy for Viksit Bharat 2047

Dr. Nisha Jain, Dr. Jyoti Prakash Rath & Sushree Adyasha Mohanty

The vision of Viksit Bharat 2047 envisions India’s transformation into a developed, inclusive, and sustainable economy by the centenary of its independence. Central to this transformation are the digital economy, financial technology (FinTech), and smart governance systems powered by Artificial Intelligence (AI) and embedded within ethical and sustainability frameworks. This research paper examines how AI-driven digital transformation can reshape management practices, financial ecosystems, and public governance to promote equitable growth and global competitiveness. The study employs a mixed-method approach using secondary data from international financial institutions, policy think tanks, and empirical case studies of India’s Digital Public Infrastructure (DPI), including Aadhaar, UPI, and AI-enabled governance platforms. The literature review integrates theoretical perspectives on digital capitalism, FinTech evolution, smart governance, AI ethics, and sustainable development. The findings suggest that AI-enabled FinTech ecosystems significantly enhance financial inclusion, reduce information asymmetry, and promote MSME participation in the formal economy. Smart governance models improve transparency, service delivery efficiency, and predictive policy formulation. However, risks such as algorithmic bias, data privacy concerns, cybersecurity vulnerabilities, and environmental costs of AI systems pose substantial ethical and sustainability challenges. The paper proposes an integrated framework combining responsible AI governance, ESG-aligned digital finance, adaptive regulatory institutions, and sustainable digital infrastructure. It argues that ethical AI and green digital transformation must be embedded in management paradigms to ensure long-term socio-economic stability. The study concludes that achieving Viksit Bharat 2047 requires a holistic alignment of technological innovation with ethical safeguards and sustainability imperatives, positioning India as a global leader in responsible digital governance.

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