...INTRODUCTION “The family that makes the farm an old fashioned home with diversified crops, fruits and domestic animals sufficient to meet the household needs will still find agriculture one of the most satisfying forms of existence.” By Calvin Coolidge As Mahatma Gandhi said, "Real India lives in villages”. Nearly two-thirds of its population depends directly on agriculture for its livelihood. Agriculture is the backbone of the Indian economy earlier it had a major contribution in Indian economy, at the time of independence it was 33.3 percent which is increased to 56.5 percent in 2013. Current agriculture marketing system in the country is the outcome of several years’ planed work of Indian government and fourteen five year plans including few Prime Minister’s special plans for rural people. The efforts took place immediately after the independence of the nation. The foundation of markets is to provide market to agricultural produce and supporting them with minimum support price so that farmers get a healthy margin for their produce. This will encourage them to take agriculture as one of the mean for their livelihood. SUMMURY The central and state government equally responsible for the matters related with agriculture and agriculture market system. In the initial stages Five Year plans has focuses on the infrastructure development in the specific sector. In 1960’s the focus moved on the institutional building such as Central Warehousing Corporation, Food Corporation of India...
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...WTO AND INDIAN ECONOMY (AGRICULTURAL IMPLICATIONS) BY: RAYNAH FERNANDES 13 SRUSHTI GANGAN 14 NEHA GAONKAR 15 INDEX 1. WORLD TRADE ORGANISATION GATT Principles of WTO Objectives & Function 2. INDIA & WTO 3. INDIAN ECONOMY 4. INDIAN AGRICULTURE Agricultural Trade Agricultural Support Policies Importance Of Indian Agriculture 5. AGREEMENT ON AGRICULTURE The Three Boxes: Green, Amber and Blue Trend In Pattern Of Consumption Implication Of Agreement : Short Term and Long Term 6. WTO & INDIAN AGRICULTURE India’s Commitment India’s Agricultural Trade Under WTO Regime 7. A STUDY & ITS FINDINGS 8. SUGGESTIONS 9. BIBLIOGRPHY ACKNOWLEGEMENT We would like to acknowledge and express our sincerest gratitude for the efforts and timely guidance of our professor Mrs. Neelam Shetty of Managerial Economics for providing us the opportunity to study the impact of WTO agreements on the Indian economy especially focused on the agricultural sector. We would also like to thanks and express our gratitude towards professor Mr. Agnelo Menezes of economics from the Bachelors of Arts faculty and his student from XRCVC Master Prashant Lindayat. Each and every team member gave in his best to make sure that this report has all the necessary inputs and is completed on time. We definitely had a knowledgeful and enriching experience. WORLD TRADE...
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...Retail in India FDI in single brand retail was first introduced in 2006 and it was first in 2010 that the idea of FDI in multi-brand retail was proposed by the government as a step to boost the economy of the country. The Indian Retail industry is being seen as a concrete pillar to boost the economy. Currently the retail industry accounts to 14-15 % of the GDP and employs 6-7%of the total nation’s population. It is expected to reach 16-18% of the total market within the next five years. At the time when FDI in single brand retail was introduced in 2006 the limit was set to 49% ownership rights but in the fiscal year 2011-12 government of India agreed to reform its policy on the single brand retails and increased the ownership rights to 100%. Also in 2012, the Indian government allowed FDI in multi-brand retail in which the company has 51% ownership. Following are some of the points of proposed FDI in retail: * Minimum investment to be done is $100 million. * 50% of the investment should be done in improving the back end infrastructure. * 30% of all raw materials have to be procured from the small and medium enterprises ( this rule has been recently reformed as government has made exception for IKEA). * Permission to set retail stores only in cities with a minimum population of 10 lakhs. * Government has the first right to procure material from the farmers. Political Opposition: There was a staunch opposition to the introduction of FDI in multi-brand...
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...Plight of Indian Farmers with Respect to current Credit Facilities Plight of the Indian Farmer India is an agrarian country and around 60% of its people directly or indirectly depend upon agriculture. Agriculture in India is often attributed as gambling with monsoons because of its almost exclusive dependency on precipitation from monsoons. The failure of these monsoons can lead to a series of droughts, lack of better prices, and exploitation of the farmers by middlemen, all of which have led to a series of suicides committed by farmers across India. Things have always been bleak for the Indian farmer. Here the term ‘farmer’ is used to describe the agriculturists with very small land holdings or no land ownership at all. The policies of the government and the often-lackadaisical attitude of the bureaucracy are responsible for the sorry plight of the farmer. Even the so-called ‘Green Revolution’ was successful only in patches. Not many small farmers could reap the benefits of the technology that required large tracts of land and lot of money. The policy makers ignored the need for creating infrastructural facilities like irrigation and storage and not to mention the transport facilities. Some of the main causes of the farmers’ mass suicide is due to absence of adequate social support infrastructure at the level of the village and district, uncertainty of agricultural enterprise in India, indebtedness of farmers, rising costs of cultivation, plummeting prices of farm commodities...
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...Poverty in India is widespread, with the nation estimated to have a third of the world's poor. In 2010, the World Bank reported that 32.7% of the total Indian people fall below the international poverty line of US$ 1.25 per day (PPP) while 68.7% live on less than US$ 2 per day.[1] According to 2010 data from the United Nations Development Programme, an estimated 29.8% of Indians live below the country's national poverty line.[2] A 2010 report by the Oxford Poverty and Human Development Initiative (OPHI) states that 8 Indian states have more poor people than 26 poorest African nations combined which totals to more than 410 million poor in the poorest African countries.[3][4] A 2013 UN report stated that a third of the worlds poorest people live in India.[5] According to a 2011 poverty Development Goals Report, as many as 320 million people in India and China are expected to come out of extreme poverty in the next four years, while India's poverty rate is projected to drop to 22% in 2015.[6] The report also indicates that in Southern Asia, however, only India, where the poverty rate is projected to fall from 51% in 1990 to about 22% in 2015, is on track to cut poverty by half by the 2015 target date.[6] However, this decline in poverty is debatable given the fact that there are question marks on methodology of evaluating poverty. Indian journalist Ravi S Jha writes in the Guardian[7] on the need of measuring poverty by segregating India's poor in different groups. The areas in which...
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...Profile of Steel Industry in India (Managerial Economics) CONTENTS Introduction Market Size Investments Government Initiatives Steel Prices Supply and Demand Analysis Cost of production Production Functions and Input: Fixed & Variable Inputs: Total & Average cost: Calculating Average Total Cost Average cost and Economics of Scale: Market Structure of steel industry: Price Discrimination in the Steel Market SWOT Analysis of Steel Industry: Indian Steel Industry a Bright Future Understanding the Steel industry using Michael Porter’s Five Forces Model Suggestions Road Ahead Major Steel Producers Introduction India has acquired a central position on the global steel map with its giant steel mills, acquisition of global-scale capacities by players, continuous modernisation, and improvement in energy efficiency. Steel companies from across the world have shown interest in the Indian steel industry due to its phenomenal performance. In India, the steel industry plays a significant role in the economic growth. India is world's fourth largest crude steel producer in 2011-12 with 89 million tonnes (MT) as per provisional data and is expected to become the second largest producer of crude steel in the world by 2015-16. India is also the world's largest producer of sponge...
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...ECONOMY FIRST CUT - INFLATION August 2011 Inflation Unlikely to Subside Soon Overview: Inflation continues to be the single most important macroeconomic risk and challenge for the Indian economy. It has remained above the 9 per cent mark for eight consecutive months. Headline inflation stood at 9.2 per cent in July 2011 compared to 9.4 per cent a month earlier. Inflationary pressure is unlikely to subside over the next few months due to the second round effect of fuel prices increase and the hike in minimum support prices (MSP) of agricultural commodities. Accordingly, we have upped our annual average inflation forecast for FY12 by 50 bps and expect it remain in the range of 8.0 to 8.5 per cent. Inflationary pressure which had emerged initially due supply- side constraint in agricultural commodities has spilled over to manufacturing items and become broad based, indicating demand- side pressure as well. Inflation has now remained in high single or double digit for nearly 20 months. RBI has raised the key policy rate by a cumulative 325 basis points since March 2010 to tame inflation but with little effect. There is, however, a silver lining now as the commodity especially crude prices in the global market are showing signs of moderation due to the weakening of growth outlook in USA and EU area. Moderation in crude prices will hold the key with respect to inflation going forward, as fuel inflation has remained in double-digits since February 2010. Though total food (manufacturing...
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...National Policy on Biofuels Block No. 14, C.G.O. Complex Lodhi Road New Delhi- 110003 Page 1 of 18 National Policy on Biofuels 1.0 1.1 PREAMBLE India is one of the fastest growing economies in the world. The Development Objectives focus on economic growth, equity and human well being. Energy is a critical input for socio-economic development. The energy strategy of a country aims at efficiency and security and to provide access which being environment friendly and achievement of an optimum mix of primary resources for energy generation. Fossil fuels will continue to play a dominant role in the energy scenario in our country in the next few decades. However, conventional or fossil fuel resources are limited, non-renewable, polluting and, therefore, need to be used prudently. On the other hand, renewable energy resources are indigenous, non-polluting and virtually inexhaustible. India is endowed with abundant renewable energy resources. Therefore, their use should be encouraged in every possible way. 1.2 The crude oil price has been fluctuating in the world market and has increased significantly in the recent past, reaching a level of more than $ 140 per barrel. Such unforeseen escalation of crude oil prices is severely straining of the developing various economies the world over, particularly those countries. Petro-based oil meets about 95% of the requirement for transportation fuels, and the demand has been steadily rising. Provisional estimates have ...
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...SYMBIOSIS INSTITUTE OF BUSINESS MANAGEMENT, BENGALURU Adlabs IPO Investment Banking Project Rajeev Siyyadri, 14020841189 12/30/2015 Introduction to the industry The outlook towards Indian economy has been very pessimistic from mid 2013 onwards where the country struggled with current account and fiscal deficit, rupee depreciation and high inflation. Only after speeding up of the government approvals and sanction after 2014 there has been has been liberalisation of foreign direct investment in certain sectors have led to an increase in the economic growth in India. After 2015 the average middle class household 's income is expected to triple. Almost around 57% of the GDP constitutes of consumer spending which is double that what investments contribute towards GDP. The increasing Indian urban population is expected to lead to an increase in spending on discretionary areas and consumer services. Between 2010 and 2020, the average household income is expected to triple. A combination of factors such as a growing middle class, rapid urbanisation and an increase in nuclear families in metropolitans which is also extending to smaller towns, is resulting in an increase in discretionary spending and consumer services such as healthcare, outdoor recreation, education, consumer durables and communication. Domestic tourism in India have shown a growth of 9.6% in 2013 over 2012. In 2013, the top five states for domestic tourists were Tamil Nadu, Uttar Pradesh, Andhra...
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...Manju Dahiya Manju Dahiya, Research Associate, Institute of Development Studies, M.D. University Rohtak (124001), Haryana, India E-mail: manju11jan@gmail.com Abstract Due to global financial crisis, issues relating to the growth of Indian economy have been the subject matter of debate and discussion at home as well as abroad. Global financial crisis affeced the growth rate of every sector of the economy but not as much as high, slogans annonced by the corporate sector. The Indian economy has been achieving the high rate of growth after the reform process. In India, where rapid economic growth has become a national goal, analysis of the sources of growth assumes special significance to formulation of the macroeconomic strategy and policies that affect the future growth rate- as well as pattern. This study explains “How has the Indian economy growing after independence. Using the latest data on labour and a model of capital accumulation and productivity growth, we map out GDP growth on India economy until 2050. It estimates potential growth using the Cobb-Douglus production function in the Indian context and then examine their implication for policy. 1. Introduction During the last couple of years, issues relating to the growth of Indian economy have been the subject matter of debate and discussion at home as well as abroad. It is 19 years now since the initiation of the economic reform process in 1991. The scope of the economic reforms undertaken has been wide ranging, covering...
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...Case Discussion Questions 1. Why is the Indian retail industry so inviting? Indian retail industry is so inviting because it is a developing site for global retailers and the profitability is declining in developed countries. Because of the indulgence of many small organizations, its existing retail system has been divided into various parts and this division is beneficial such as it is leading to lower prices of farmers and higher prices of the consumers. Furthermore, in order to maximize return on investment, the new rules of India for international trade are attractive for FDI across nations(Dey, 2007). 2. From a resource-based view, what are the unique resources and capabilities that multinational retailers such as Wal-Mart can bring to India? In India FDI on multi brand stores has been forbidden in 2011. But by considering today, multinational retailers can bring small trade stores, modern technology, new opportunities for labor, supermarkets of food service and global sourcing stores in order to enhance the size of economy. 3. From an institution-based view, why is the opening of this industry to FDI such a political issue? In India, a large of small organizations are working and surviving currently even with political issues and potential organizations who want to work there are losing in order to prevent them from influence of politics because they do not know what could be unfavorable for them. 4. ON ETHICS: If you were an elected government official...
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...(the demand) outstrip the various uses for them (the supply). This means that they have to be shared out (distributed) by a mechanism such as price. There are numerous ways in which a resource may be used, an opportunity cost is therefore created whenever one use is preferred over another. If water is used for industrial production, it is not available for agriculture or domestic consumption. Water is a classic example of the distribution problem of scarce resources. There is actually enough water in the world for everyone's needs, and it is not a resource that is ever 'used up' in the way that other resources can be consumed. The amount of water in the earth's water cycle - evaporating from the sea, then falling as precipitation over land - is constant, the problem is one of distribution - it is not always located where it is needed. Read more: http://businesscasestudies.co.uk/nestle/sustainability-and-water/the-basic-economic-problem.html#ixzz1oPYHca55 Case Study of Biofuels and the poor Case Study: India Biofuel Policy and Potential in India Due to increased energy demand, India must import energy to meet current demand. There is potential for biofuels to leverage indigenous sources of inputs, potentially increasing income and opportunities in rural areas. Yet the development of a biofuel sector could increase staple food prices and increase...
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...Basel I The Basel Accords are some of the most influential—and misunderstood—agreements in modern international finance. Drafted in 1988 and 2004, Basel I and II have ushered in a new era of international banking cooperation. Through quantitative and technical benchmarks, both accords have helped harmonize banking supervision, regulation, and capital adequacy standards across the eleven countries of the Basel Group and many other emerging market economies. On the other hand, the very strength of both accords—their quantitative and technical focus—limits the understanding of these agreements within policy circles, causing them to be misinterpreted and misused in many of the world’s political economies. Moreover, even when the Basel accords have been applied accurately and fully, neither agreement has secured long-term stability within a country’s banking sector. Therefore, a full understanding of the rules, intentions, and shortcomings of Basel I and II is essential to assessing their impact on the international financial system. This paper aims to do just that—give a detailed, non-technical assessment of both Basel I and Basel II, and for both developed and emerging markets, show the status, intentions, criticisms, and implications of each accord. Basel I Soon after the creation of the Basel Committee, its eleven member states (known as the G-10) began to discuss a formal standard to ensure the proper capitalization...
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...Introduction Retailing in India is one of the pillars of its economy and accounts for 14 to 15% of its GDP The Indian retail market is estimated to be US$ 450 billion and one of the top five retail markets in the world by economic value. India is one of the fastest growing retail markets in the world, with 1.2 billion people India's retailing industry is essentially owner manned small shops. In 2010, larger format convenience stores and supermarkets accounted for about 4% of the industry, and these were present only in large urban centers. India's retail and logistics industry employs about 40 million Indians. Until 2011, Indian central government denied foreign direct investment (FDI) in multibrand retail, forbidding foreign groups from any ownership in supermarkets, convenience stores or any retail outlets. Even single-brand retail was limited to 51% ownership and a bureaucratic process. In November 2011, India's central government announced retail reforms for both multi-brand stores and single-brand stores. These market reforms paved the way for retail innovation and competition with multi-brand retailers such as Walmart, Carrefour and Tesco, as well single brand majors such as IKEA, Nike, and Apple. The announcement sparked intense activism, both in opposition and in support of the reforms. In December 2011, under pressure from the opposition, Indian government placed the retail reforms on hold till it reaches a consensus. In January 2012, India approved...
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...A PROJECT ON Structural Changes in Indian Economy Submitted to: Dr.Rakesh singh Group No 6 Division:B RAHUL PATHAK 201072 ROHIT SAHA 201075 RIMJHIM JAIN 201083 VICKY SARAF 201106 AVINASH TIWARI 201105 Structural change of an economy refers to a longterm widespread change of the fundamental structure, rather than microscale or short-term output and employment. For example, a subsistence economy is transformed into a manufacturing economy, or a regulated mixed economy is liberalized. A current structural change in the world economy is globalization. Tabular representation of Indian GDP The Three Sectors of the Indian Economy Agriculture More than 52% of country's population depends on agriculture, a sector contributing only 17.5% of the GDP. Food grain production in 2009/10 is expected at 216.9mt, which is 17.6mt lower than the output in 2008/09. The Kharif season is the largest contributor to this shortfall, with total production of only 99.9mt, a decline in production of nearly 18mt. The rice output in the kharif season amounted to 12mt less than that in 2008. However, this shortfall is expected to be compensated to an extent by the rabi harvest. Wheat production in the rabi season is expected to be almost flat with the previous year’s levels and rice production, currently at 14.7mt, may eventually turn out to be higher than 2008 production. Taking this into consideration, the shortfall in rice production...
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