School Of Social Sciences
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Item An Economic Analysis of Production and Marketing of Vegetables Under Contract Farming in Punjab(Central University of Punjab, 2018) Pavneet; Singla, NareshItem “Industrial Sickness in Micro, Small and Medium Enterprises in Bihar, India”(Central University of Punjab, 2020) Prakash, Bishwajeet; Verma, Jainendra KumarThe research entitled „Industrial sickness in Micro, Small and Medium Enterprises (MSMEs) in Bihar, India‟ is an empirical study for various dimensions of industrial sickness in the state Bihar. The study investigates the magnitude of the financial distress among the MSMEs in the state, as well find out the major causes for the industrial sickness in MSMEs. The study has also included the significant remedial measure as revival for the sick enterprises in the state. MSMEs played a significant role in creation of new jobs, help in increasing Gross Domestic Product (GDP), entrepreneurship, and innovation; this sector emerged as vibrant key drivers for the Indian economy. In India, MSMEs contribute 40% in total GDP and provide second largest employment after agriculture. MSMEs faces huge number of challenges and problems, which lead to a business, became sick or failure in due course. Industrial sickness is universal phenomena and spread in all type of industries all over the world. It adversely affects the health of industrial sector as well economy. This study covers the problems, causes, and prediction of industrial sickness among the various Micro small and medium industries in Bihar. The study is based on the perception of entrepreneurs and financial statement of the enterprises. Major objectives of this research are to study the growth and performance of MSMEs in Bihar, problems faced by entrepreneurs at all the stages of units, source of funding, causes of industrial sickness include internal and external factors responsible for sickness, predict the v industrial sickness in industries, remedial measure to fostering entrepreneurs, and suggest suitable policies to reduce the effect of industrial sickness in the economy. The study is based on primary and secondary database. In primary data of 450 enterprises has been collected from 9 representative districts of Bihar, with including of all types of forms (Sole Proprietorship, Partnership, Private Limited Companies etc) and kinds (Services, Manufacturing) of business took part in the study. A pre-tested well designed schedule has been used for the collection of primary data from enterprises. The secondary data and financial statement of enterprises has been taken through various agencies‟ websites. The responses of the participants were analyzed by using the statistical package for social sciences (SPSS), which generated the frequency distributions, means, standard deviations, variances, chi-square statistics, analyses of variance (ANOVA), t-statistics, and factor Analysis of the responses. In order to identify the fore warning indicators of industrial sickness in small and medium enterprise, Altman Model is used. The hypothesis of the result has been tested at 0.05 level of significance. The study has resulted that 27 most important factors are responsible for the industrial sickness in the state. The research may be beneficial to all concern especially researcher, academicians and policy makers to understand the magnitude of industrial sickness, its prediction and taking remedial measureItem AN ECONOMIC ANALYSIS OF PRODUCTION AND MARKETING OF MILK UNDER FORMAL AND INFORMAL MILK MARKETS IN PUNJAB(Central University of Punjab, 2019) Kaur, Manpreet; Singla, NareshDairy farming as an allied activity has been considered an alternative to revive the agrarian economy of Punjab. Further, participation of farmers in formal milk markets may increase the income level of farmers, provide them guaranteed market as well as assured price. Hence, in this context, the study was carried out to analyse the relationship between farmers and formal milk market in terms of procurement operations, role of formal milk markets in augmenting income and employment, cost and returns from milk production, factors influencing farmers’ participation in formal milk markets and problems faced by the farmers regarding production and marketing of milk. Based on mainly primary data, three formal milk markets two cooperatives viz. Milkfed and Kaira Milk Union a tier of Gujarat Cooperative Milk Marketing Federation (GCMMF) and a producer company namely, Baani Milk Producer Company Limited (BMPCL) were selected for the present study. Out of total 600 sampled farmers, a sample of 100 farmers supplying milk to each formal milk market was selected through the usage of stratified sampling technique. Further, another sample of 100 farmers supplying milk to informal milk market corresponding to each company was selected. Companies under formal milk market procure milk on the basis of fat as well SNF and make payment to farmers after a fixed period of time. Besides, companies involved in formal market also provide technical input services. It was found that participation in formal milk markets v augments the income as well as employment of the farmers. Further, farmers participating in formal milk markets were having more returns from milk production as compared to farmers participating in informal milk market. Distance was found to be the main determinant of farmers’ participation in formal milk markets. Besides, age, education, herd size etc. were also found to be major determinants influencing the farmers’ participation in formal milk markets. However, farmers participating in formal milk market were also facing problems regarding production and marketing of milk such as higher cost of feeding inputs, low price, fluctuations in milk production, requirement of much labour time, distance of milk collection centres from farmers’ farm gate, incidence of diseases among milch animals etc. In order to address these problems, the study recommends some policy measures such as establishment of more than one milk collection centres in geographically large villages, access to credit facility, provision of subsidy of feeding inputs, veterinary and breeding services, advance payment facility, fixation of reasonable price of milk etc.Item Insurance Development and Macroeconomic Growth: Analysis of Selected Asian Countries(Central University of Punjab, 2019) Mir, Javaid Ahamd; Mishra, Pabitra KumarEconomic growth and its sustainability has long been the focus of debate for both academic researchers and policy makers. A large number of attempts have been made to extensively list the factors that may have an impact on economic growth and the role of insurance as the factor of growth also got recognition. Insurance sector plays an important in augmenting economic growth by managing the risk involved in the investment decisions. Insurance companies mobilise savings from surplus spending units to the deficit spending units and thus, help in financing the investment in the real sector. Insurance sector also contribute to the economic growth by promoting financial stability, facilitating trade and commerce, mobilizing savings, allowing risks to be managed more efficiently, encouraging loss mitigation; and by fostering a more efficient allocation of capital. Insurance services enhance marginal productivity of capital, technological innovation and savings rate in the economy. With such significance of insurance sector in the economic growth of a country, a number of studies have been undertaken to find the causal relationship between them. However, there is no consensus among the existing studies about the causal relationship between insurance and economic growth. In this backdrop, the present study is an attempt to analyse the relationship between insurance development and macroeconomic growth in the context of 14 Asian countries in the multivariate neo-classical framework with specific research objectives like to evaluate the trend and progress of the insurance sector development in the selected Asian economies; to explore the level of disparity in the insurance sector development across selected Asian economies; to investigate the relationship between the development of life insurance sector and economic growth in the selected Asian economies; to investigate the relationship between the development of non-life insurance sector and economic growth in the selected Asian economies; to investigate the relationship between the development of insurance sector as a whole and economic growth in the selected Asian economies. ix The methodology used in this study is specified as per objectives. For the first objective, time series plots have been prepared for variables of insurance sector development and trend pattern are observed for the selected countries. For second objective, the level of disparities in the insurance sector development across the selected Asian countries is observed through the time series plots of insurance penetration and insurance density. Furthermore, the concept of Gini coefficient is used as a statistical measure of the inequality. In the presence of between-country insurance inequality, it is often asked whether such inequality would eventually converge. This issue with respect to the insurance sector development across high-income, upper-middle income and lower-middle income countries is addressed by employing the concepts of absolute β-convergence and σ-convergence tests. For objective third, fourth and fifth, the study employs the ARDL model to check the relationship between life insurance sector and economic growth, non-life insurance sector and economic growth and total insurance sector and economic growth in the selected countries. The findings of the study with respect to the first objective reveal that the life insurance sector in most of the selected Asian countries has shown much progress during the period from 1985 to 2015. However, the development in the non-life insurance sector is not satisfactory during that period. With respect to the objective second, the study reveals that the existence of wide disparity in the insurance sector development in the selected Asian countries during the period from 1985 to 2015. Between-country inequality is found in the life insurance sector development, non-life insurance sector development and also in the development of insurance sector as a whole. Further, the convergence possibility of insurance sector development between the selected Asian countries is also predicted in the findings. The findings of the study with respect to objective third, fourth and fifth reveal the existence of long-run equilibrium relationship between insurance sector development (life insurance, non-life insurance and insurance sector as whole) and economic growth for the selected Asian countries. However, there is feedback/bidirectional causal relationship between life insurance sector and economic growth and also between insurance sector as a whole and economic growth in the selected Asian countries. In the case of non-life insurance and economic growth relationship, x the findings from the study reveal unidirectional relationship from non-life insurance to economic growth. The bidirectional relationship between life insurance and economic growth and total insurance and economic growth imply that policies for increasing the penetration of the life insurance sector and insurance sector as a whole in selected Asian countries are likely to augment investment opportunities and enhance the productive capacity of the economy thereby stimulating the overall economic growth. Second, expansion in economic activities with increase in economic growth is likely to lead to the growth in penetration rate of the life insurance sector and total insurance sector in selected Asian economies. The evidence of supply-leading hypothesis from the non-life insurance and economic growth relationship implies that the policies for increasing the penetration of non-life insurance sector in selected Asian countries are likely to augment investment opportunities and enhance the productive capacity of the economy thereby, stimulating the overall economic growth. Second, expansion in economic activities with increase in economic growth fails to provide synergy for the growth in the penetration rate of the non-life insurance sector in selected Asian economies. The study suggests that appropriate policies and/or strategies should be formulated for increasing the penetration of non-life insurance sector in Asian economies. In this direction, emphasis should be given in asset/property insurance, health insurance, crop insurance etc. It is also suggested that, both life and non-life should reformulate their business models targeting “the goldpost at the bottom of the pyramid”. When the small savings of rural masses are strategically targeted and achieved, the insurance penetration will increase thereby fostering the macroeconomic growth of Asian countries. The study further suggests that emphasis should be given in the development of appropriate life insurance policies to mobilize larger resources for financing productive projects targeting higher rate of overall economic growth because bidirectional causal relationship has been observed between the development of life insurance sector and economic growth in Asian countries.Item Do Women's Advancement and Gender Parity Promote Economic Growth? Evidence from 30 Asian Countries(SAGE Publications Ltd, 2020) Mishra, P.K; Mishra, S.K; Sarang,i M.K.Women's advancement and consequential gender equality have significant implications for human capital formation, increase in labour productivity, employment creation, poverty reduction, and overall socio-economic and human development. So, inclusive growth and sustainable development would not be possible without women�s empowerment and gender equality. Thus, targeting women�s empowerment is extensively relevant for Asian countries. In this context, this article explored the impact of the gender factors on the economic growth of 30 Asian economies over the period from 1997 to 2015 by using panel autoregressive distributive lag (ARDL) model. It provides the evidence of an overall positive impact of the gender parity index of health, education, employment and democratic representation on the economic growth of Asia in the long run. Therefore, gender equality is an important determinant of economic growth in Asian countries, and hence, should be on board while planning for the empowerment of women. - 2020 Association of Asia Scholars.Item A study of youth unemployment and Labour force participation in Odisha(Central University of Punjab, 2017) Pattayat, Shiba Shankar; Parida, Jajati KeshariThis study attempts to explore the recent trends and patterns of youth unemployment, sectoral employment patterns and the factors influencing youth labour force participation in Odisha. This study also attempts to project the size and composition of labour force and sectoral employments by 2019-2020 to know the size of demand-supply gap and hence to suggest appropriate policy measures. This study is based on both secondary and primary data. The major sources of secondary data are NSS (various rounds) and Census of India. NSS data is used to calculate various development statistics, whereas census population data is used to adjust the NSS estimates and obtain absolute figures. Moreover, a primary survey is conducted in Balasore district of Odisha to explore the employability pattern of ITI pass-outs. The major findings of the study suggest that youth unemployment is increasing over the last three decades in Odisha. It is high among the students who passed the secondary and above level of education. The unemployment rate among ITI pass-outs is also quite high. The unemployment rate among ITI pass-outs is higher than that of general education pass outs. The falling trend of agriculture employment due to mechanisation on one hand and non-availability of jobs in industry and service sectors on the other hand are responsible for high unemployment in Odisha. Within non-farm sector, the sub sectors like construction, labour intensive manufacturing (basic and fabricated metal, plastic products food and beverages, wood and paper products, and textile and apparel) and within service sector, subsectors like arts and entertainment, retail trade, transportation and storage, and education are deriving employment growth in recent years. vi Furthermore, this study finds that poverty and household income distress are playing an important role in the process of youth labour force participation in Odisha From the demand and supply projection of labour force, it can be concluded that the demand for labour would increase by (at most in the best possible scenario) by 4.5 lakhs per annum, whereas the supply of labour would likely to increase by 6.5 lakhs per annum. Hence, a gap of 2 lakhs per annum would be generated within labour market in Odisha. Therefore, in this context, it is suggested that the policy measure that focuses on growth of manufacturing sector along with development of social sector including education and health sectors would have greater potential for generating employment opportunities. And thereby it would help sustain the growth of jobs and the structural transformation process which started during 2004-05 in Odisha.Item Review of Decentralisation, Governance and Development, by Pranab Kumar Das(Sage, 2018) Dutta, SumedhaDrawing from the Gandhian trajectory of development, which emphasises a shift from the top-down to the bottom-up model of governance, the 73rd constitutional amendment act was enacted in the 1990s, which sought to deepen democracy in India by granting constitutional recognition to gram panchayats (GPs), through the establishment of a three-tier system—at the village, block and district levels. In this context, this work is an attempt to assess the performance of the Indian local self-governance or the Panchayati Raj model, primarily in two states of India, namely, West Bengal and Kerala, which were pioneers of the decentralisation process in the country, having taken the lead long before the constitutional amendments, and which are widely perceived as having done appreciably well in this field. The volume consists of twelve essays, comprising of contributions from academicians, policymakers and government personnel, which are classified into three parts. While part one of the volume deals with macro issues, part two analyses micro level studies, and part three is a reflection on sociopolitical concerns. The common thread that binds the miscellaneous chapters is that they successfully identify the bottlenecks to efficacious decentralisation in India, which involve one or more of the following factors—the absence of financial devolution, adequate record keeping, insignificant mass participation and the recourse to favouritism to capture political vantage.Item Assessing Financial Integration of BRICS Equity Markets an Empirical Analysis, Emerging Economics Studies(Sage Publication, 2017) Parakash, Vineesh; Nauriyal, D.; Kaur, SandeepThis article examines the degree of financial integration among the equity markets of Brazil, Russia, India, China, and South Africa (BRICS) by using monthly data collected for the period 2005–2014. The study employs Johansen cointegration test, vector error correction model (VECM), and Granger causality test which confirm the existence of relationship in the short and long run among the equity markets of BRICS. Further results exhibit that there exists cointegration or a long-run relationship among the equity markets, but weak cointegration, though the results of Granger causality test do not display existence of any causality among market pairs such as China–Brazil, Russia–Brazil, South Africa–Brazil, Russia–China, and South Africa–India. The results indicate that even though the financial integration among the equity markets of BRICS is on ascendance, it is yet incomplete. This work suggests harmonization of laws, regulations, and operations based on international principles and appropriate regulatory supervision among BRICS nations in order to minimize the risk of financial integration, besides further relaxing restrictions on capital account for expedited financial integration.Item Technological Intensity of Indian Exports and the Performance of Emerging Asian Economies(Sage Publication, 2018) Fayaz; Kaur, SandeepThe increasing share of technological-intensive products in the world trade has recognized technology and technological capabilities as a major factor for competitiveness and growth. Notably, the emerging countries are progressively becoming the exporters of the products that are technologically more intensive. Thus, the current study presents an analysis of Indian exports and the performance of emerging Asian economies in terms of technological intensity over the period 1980–2016. The study shows that the exports of all the said emerging economies have a large technological base owing to their significant investments in R&D and open-door policies. While the figures of India also show a steady though slow technological upgradation from low-tech to medium-tech and high-tech exports but when compared to the standards of these emerging economies, they are low. Thus, in order to increase the technological intensity of its exports, there is a need to invest more in high-tech and medium-tech R&D activities and overcome the technological barriers. There is also a need to devise the policies that would make a favorable environment for attracting more outward-oriented foreign direct investment (FDI).