Book description
This book on the Indian economy is an exhaustive text for studying and understanding the world's third largest economy. Written in a simple and lucid language, the book presents the subject matter in a manner where a reader will be able to easily move from elementary to complex concepts. Special attention has also been paid to discuss the latest developments, policies, and problems related to the Indian economy. The content coverage has been designed to help students pursuing graduate and postgraduate courses in commerce, economics, and management as well as those pursuing professional programmes such as chartered accountancy, company secretary, and cost and works accountancy.Table of contents
- Cover
- Title Page
- Dedication
- Contents
- Preface
- About the Authors
- Chapter 1 Indian Economy during the British Era
- Chapter 2 Indian Handicrafts and their Decline
- Chapter 3 The Indian Village in Transition
- Chapter 4 The Economic Drain of India
- Chapter 5 Agriculture during the British Era
-
Chapter 6 Systems of Land Tenure in the British India
- Introduction
- The Gradual Growth of Land Tenures in India
- The Period of Transition
- The Permanent Zamindari Settlements, 1793
- Demerits of the System
- The Protection of the Tenants in the Zamindari Areas
- The Abolition of the Zamindari System
- The Temporary Settlements
- The Mahalwari Settlements
- The Malguzari Settlement in Central Provinces
- The Ryotwari Settlement in Madras and Bombay
- Reform in Ryotwari Areas
- Discussion Questions
-
Chapter 7 The State and Agriculture during the British Era: The Evolution of the Agricultural Policy of the State
- The Need for Government Action
- Policy of Laissez Faire and Indifference to Agricultural Improvement 1860â1880
- The Formative Period in Government Policy 1880â1905
- The Reorganization of the Agricultural Departments 1905
- The Imperial Council of Agricultural Research (ICAR) 1929
- The Development of Agriculture
- Security
- Debt Relief and Rural Credit
- Seeds
- Manures
- Prevention and Control of Pests and Diseases
- Implements
- Methods of Cultivation
- Cattle Improvement
- Subsidiary Rural Industries
- Marketing
- Rural Reconstruction
- Education and Propaganda
- Discussion Questions
-
Chapter 8 Fractionalization of Holdings and Food Production: Subdivision and Fragmentation of Holdings
- The Size of the Holdings
- The Causes of the Small Size of the Holdings
- The Effects of Subdivision and Fragmentation
- Measures Taken to Remedy the Evils
- The Consolidation of the Existing Fragments and Subdivisions
- The Prevention of Excessive Subdivision and Fragmentation
- Efforts at Consolidation of Holdings
- Impact on Government Efforts in Agriculture
- Problems of Plenty in 2012
- Discussion Question
-
Chapter 9 Irrigation in India: The Need for Irrigation and Different Kinds of Irrigation Works
- The Need for Irrigation
- Kinds of Irrigation Works
- Government and Classification of Irrigation Works
- The Irrigation Policy of the Government
- Private Companies
- The State and âProductiveâ Works
- The State and the Colonization Canals
- The State and âProtectiveâ Works
- The State and Productive and Protective Works
- Provincialization
- The Limitations on the Scope of Irrigation
- Irrigation Works after Independence
- The Effects of Irrigation
- Discussion Questions
-
Chapter 10 Famines and the Famine Policy in India
- The Nature of Famines and their Effects
- The Famine Relief Policy
- The First Famine Commission 1880
- The Second Famine Commission 1898
- The Third Famine Commission 1901
- The Woodhead Famine Inquiry Commission 1944
- The Modern Indian Famine Campaign
- The Famine Protection Policy
- The Efficacy of the Measures Adopted
- The Policy of Famine Finance
- The Recent Food Crisis and Famines
- Ultimate Causes and Remedies
- Discussion Questions
- Suggested Reading
- Chapter 11 The National Food Security Bill 2013
-
Chapter 12 The Indian Economy Since Independence
- The Indian EconomyââAn Overview
- A Retrospective on the Indian Economy
- Agricultural and Rural Development
- Myths Associated with Agriculture
- Industrial Production and Manufacturing
- Infrastructure
- The Services Sector
- Indiaâs IT and Itâes Sector
- The Financial Services Sector
- Savings and Investment
- The Price Situation
- Indiaâs National and Per Capita Incomes
- Income Distribution and Poverty
- The External Sector
- Discussion Questions
- Suggested Readings
- Chapter 13 Mixed Economy of India (1951â1991)
-
Chapter 14 Indiaâs National Income and Standard of Living
- Definitions
- Concepts in National-income Analysis
- Gross National Product
- The Sectoral Composition of NI
- Estimates of the NI of India
- Difficulties in the Measurement of NI
- NI Data and the Changing Profile of the Indian Economy
- Determinants of the Size of a Countryâs NI
- Reasons for Indiaâs Low NI
- NI and Economic Welfare
- Inequalities of NI Distribution
- Uses of NI Data
- Standard of Living
- Engelâs Law of Family Expenditure
- Scales of Preferences
- Savings and Investment
- References
- Suggested Readings
- Key Terms
- Discussion Questions
- Chapter 15 Unequal Distribution: Inequalities of Income and Wealth
- Chapter 16 Capital for Industries and the Managing Agency System During the British Days
- Chapter 17 The S-Band Scam
- Chapter 18 Poverty and its Reduction in Independent India
- Chapter 19 Growth and Development of Commercial Banks
-
Chapter 20 Human Resource Development in India
- Introduction
- Evolution
- What is Hrd?
- Human Capital
- HRD in India
- Functions
- Human Development Index
- Genesis and Growth of Human Resource Management
- Scope of Human Resource Management
- Different Aspects of Human Resource Management
- Different Functional Areas of HRM
- Emerging Challenges of HRM
- Changing Profile of Hr Professionals
- HR-related Issues
- Discrimination Issues
- Supression of Democratization in the Workplace
- Privacy Issues
- Safety and Health
- Performance Appraisals
- Role of Hrm in Creating an Ethical Organization
- Institutional Culture
- Creating an Ethical Organization
- Key Terms
- Discussion Questions
- References
- Further Readings
- Suggested Readings
- Chapter 21 Indian Labour and the Trade Union Movement
- Chapter 22 Labour Organization and Methods of Industrial Peace
- Chapter 23 Savings, Capital Formation and Investment in India
-
Chapter 24 Government Subsidies in India
- Introduction
- SubsidyâMeaning and Types
- Aim of Subsidies
- Forms of Subsidy
- Transfers and Subsidies
- Mode of Administering a Subsidy
- Subsidy Targeting
- Effects of Subsidies
- Subsidy Issues in India
- Sustainability Issues
- Categories of Government Services and Subsidies
- Estimation of Subsidies
- Impact of Subsidies
- Report of the Task Force on an IT Strategy for PDS and an Implementable Solution for the Direct Transfer of Subsidy for Food and Kerosene
- Society Pays a Heavy Price
- Wastage of Public Resources
- Poor not Benefited
- Power Subsidy Rip-Off
- The Unholy Nexus
- Itâs Everyoneâs Concern
- Central Government Subsidies on Exports
- Discussion Questions
- Key Terms
-
Chapter 25 Industrial and Licensing Policy (1951â1991)
- Industrial Development in India
- What is an Industrial Policy?
- The Industrial Policy Resolution 1948
- The Industrial Policy Resolution 1956
- The Industrial Policy 1973
- The Industrial Policy 1977
- The Industrial Policy 1980
- The New Industrial Policy of 1991
- Reforms in the Industrial Sector
- Industrial Licensing
- Discussion Questions
- Suggested Readings
- Chapter 26 The Industries (Development and Regulation) Act (Irda)
- Chapter 27 The New Economic Policy 1991
- Chapter 28 The Cause and Consequences of Falling Rupee
- Chapter 29 The Mrtp and the Competition Acts
- Chapter 30 FERA and FEMA
-
Chapter 31 The Private Sector in India
- Introduction
- The Phenomenal Growth of the Private Sector
- Role of the Government
- Importance
- Increased Investment Following Liberalization
- Comparative Performance of the Public and the Private Sectors
- Sectoral Growth in the Private Sector
- Private Sector and Socio-Economic Development
- Growth of Private Sector Corporate Giants
- Private Sector Caused the Growth of Modern Industry
- Discussion Questions
- References
- Suggested Readings
- Chapter 32 The Public Sector in India
- Chapter 33 The Joint Sector in Indian Economy
-
Chapter 34 The Role of Money in Indian Economy
- Introduction
- Evolution
- Functions
- Systems of Note Issue
- Kinds of Money
- Greshamâs Law
- The Value of Money
- The Changing Value of Money: The Quantity Theory
- Measuring Changes in the Value of Money: Index Numbers
- The Changing Value of Money: Inflation and Deflation
- Discussion Questions
- References
- Suggested Readings
- Chapter 35 The Indian Money Market
- Chapter 36 Privatization of Public Sector Enterprises in India
-
Chapter 37 Indian Financial Institutions
- Introduction
- Development Banks
- Meaning
- Salient Features
- The Need for Financial Institutions
- The Industrial Finance Corporation of India (IFCI)
- The Industrial Credit and Investment Corporation of India (ICICI)
- The IDBI
- The Industrial Investment Bank of India (IIBI)
- The SIDBI
- State Financial Corporations
- State Industrial Development Corporations (SIDCs)
- The National Small Industries Corporation (NSIC)
- Evaluation of the Role of Financial Institutions
- Key Terms
- Discussion Questions
- Suggested Readings
-
Chapter 38 Commercial Banking in India
- Introduction
- What is a Commercial Bank?
- Functions
- Importance
- Investment Policies
- Commercial Banking: A Process of Credit Creation/Credit Creation Mechanism
- Credit Creation
- Technique
- Indian Commercial Banks: Evolution
- Indian Banking Since Nationalization
- The Current Situation
- Indian Banking: Challenges
- Strategic Options to Cope with the Challenges
- Non-Banking Finance Companies (NBFCs)
- Salient Features of Rbi Amendment Act 1997
- Suggested Readings
- Chapter 39 Functions of the Reserve Bank of India
- Chapter 40 Indian Currency System
- Chapter 41 The Indian Capital Market
- Chapter 42 The Indian Stock Market
- Chapter 43 The Securities and Exchange Board of IndiaâThe Indian Capital Market Regulator
-
Chapter 44 Consumer Problems and their Protection in India
- Introduction
- The Parties Involved in Consumer Protection
- The Rise of Consumer Protection
- The Governmentâs Role
- Consumer Duties and Responsibilities
- Consumer Protection in India
- The Current Scenario
- Legal Protection to Consumers
- The Three-tier Redressal System in India
- Quality Standards
- Voluntary Organizations
- Other Initiatives
- Key Terms
- Discussion Questions
- References
- Suggested Readings
-
Chapter 45 Investor Protection in India
- Introduction
- Shareholdersâ Rights and Responsibilities
- A Guide for Investors and Shareholders
- Depository and Dematerialization
- Grievance Redressal
- Investor Protection
- Rights to Information and Other Rights
- The Impact of Investor Protection
- Investor Protection in India
- Shareholder Protection in India
- The SEBIâs Performance: A Report Card
- Key Terms
- Discussion Questions
- References
- Suggested Readings
-
Chapter 46 Environment in India (Including a Case Study on Bhopal Gas Tragedy)
- Introduction
- The History of Environmentalism
- Preserving the Environment: The Role of Stakeholders
- Costs and Benefits of Environmental Regulation
- Trade and the Environment
- Industrial Pollution
- Role of Corporations
- Improving Corporate Environmental Performance
- Waste Management and Pollution Control
- Managing Environmental Issues
- Improving Corporate Environmental Performance
- Environmental Risk Management
- Environmental Management in India
- Charter for Voluntary Pollution Control
- Indiaâs Environment Policy
- Corporate India Gets Eco-Friendly
- Future Outlook on Environment
- The Indian Connection with Exxon Valdez
- Conclusion
- Key Terms
- Discussion Questions
- References
- Suggested Readings
- Chapter 47 The Transport Sector
- Chapter 48 Indiaâs Trade
- Chapter 49 The Indian Trade Policy
- Chapter 50 Indiaâs Foreign Trade Since Independence
-
Chapter 51 Foreign Trade Policy
- Statement of Trade Policy
- Objectives of Indiaâs Foreign Trade Policy
- Strategies Adopted in Indiaâs Foreign Trade Policy
- Partnership with Private Players
- Road Map of the Trade Policy
- Interim Foreign Trade Policy 2009â10
- Foreign Trade Policy 2009â14
- Future Perspectives on Foreign Trade by Modi Government
- Highlights of the Foreign Trade Policy 2009â14
- Industriesâ Reaction
- Key Terms
- Discussion Questions
- References
- Suggested Readings
- Chapter 52 The Economics of Development
-
Chapter 53 Role of the State in Economic Development
- Defects of the Free-Enterprise System
- The Evolution of the Concept of State Participation in Economic Development
- The Justification and Examples of Government Intervention
- The Rationale for State Intervention in Economic Affairs
- The Scope of Governmental Action
- Roles of the Government
- The Extent of Governmentâs Participation
- Key Terms
- Discussion Questions
- References
- Suggested Readings
- Chapter 54 Economic Planning in India: Meaning, Evolution and Features
- Chapter 55 Stages and Strategies of Economic Growth
-
Chapter 56 India and the Wto
- Introduction
- Emergence
- Objectives
- Core Principles
- Functions
- Organizational Structure
- Ministerial Conferences
- The Dispute Settlement Mechanism (DSM)
- WTO Agreements
- The Trade Policy Review Mechanism
- WTO and the Most Favoured Nation (Mfn) Clause
- The Wto, The Imf and the World Bank
- The Wto and Developing Countries
- The Wto and India
- Evaluation of the Wto
- Key Terms
- Discussion Questions
- References
- Suggested Readings
-
Chapter 57 The World Bank Group and India
- Genesis
- A Brief History
- Focus
- Functions
- The World Bank Group
- Functions Performed by the World Bank and Its Affiliates
- Membership in the World Bank
- Funding Operations
- Loans, Grants and Services
- Lending Policies
- Five Essential Factors for Development Identified by World Bank
- Comprehensive Development Framework
- Poverty Reduction Strategies
- The MDGs
- Imf-World Bankâs Work: Developed Versus Poor Countries
- Criticism
- World Bank Support to India
- Key Terms
- Discussion Questions
- References
- Suggested Readings
-
Chapter 58 The International Monetary Fund (Imf) and India
- Introduction
- Origin
- Objectives
- Membership
- The Bretton Woods System
- Gold Stocks with the Imf
- Borrowing Agreements
- Governance
- Organizational Structure
- Evolution
- Structural Adjustment Programmes
- Accountability
- Criticisms
- The IndiaâImf Relationship
- Key Terms
- Discussion Questions
- References
- Suggested Readings
-
Chapter 59 Globalization, Mncs and Foreign Capital in India
- Introduction
- Factors Facilitating Globalization
- Mncs and Globalization
- Doing Business in a Diverse World
- Multinational Corporations
- Issues Relating to MNCs
- Advantages of MNCs
- Disadvantages of MNCs
- Regulation of MNCs
- MNCs in India
- Foreign Capital
- Kinds of Foreign Capital
- Distinction between FDI and FII
- Foreign Aid
- Response of Foreign Capital
- Other Kinds of Foreign Investments
- Indiaâs Policy Towards Foreign Capital
- Establishment of the Investment Commission
- Disadvantages of Foreign Capital
- Key Terms
- Discussion Questions
- References
- Suggested Readings
- Chapter 60 Business Ethics in the Indian Context
-
Chapter 61 Corporate Governance in India
- Introduction
- Definitions
- Desiderata
- Good Corporate Governance
- Issues in Corporate Governance
- The Need and Importance of Corporate Governance
- Good Governance and Corporate Performance
- Investorsâ Preference
- Significance to Developing Countries
- The Indian Model
- Key Terms
- Discussion Questions
- References
- Suggested Readings
-
Chapter 62 Corporate Social Responsibility in India
- Introduction
- Conflicting Perspectives
- Emergence of Csr
- Why Social Responsibility of Business?
- Definitions
- A Growing Global Role
- Theoretical Justification for Csr
- What are Corporates Expected to do?
- Private Sector Needs the Goodwill of Society
- Models for Implementing CSR
- CSR as a Business Strategy for Sustainable Development
- Assessment of CSR Activity
- Inadequate Response to CSR in India
- Advantages
- Scope
- Different Contexts in Which Csr is Related
- ICCâS Practical Steps to CSR
- The Indian Perspective
- Changing Attitudes to CSR
- India on the Ethical CSR Matrix
- Social Responsibility and Indian Corporations: A Score Card
- The Future of Indian CSR
- Key Terms
- Discussion Questions
- Suggested Readings
-
Chapter 63 Public Finance: Central Governmentâs Economic Survey and Budget
- Summary of Economic Survey 2013
- Introduction to Budget
- Current or Revenue Budget
- Capital Budget
- Revenues of the Central Government
- Revenue Receipts
- Tax Revenues of the Central Government
- Taxes on Revenue
- Deductions
- Corporate Tax
- Interest Tax
- Expenditure Tax
- Central Taxes on Property
- Wealth Tax
- Estate Duty
- Gift Tax
- Taxes on Commodities and Services
- Non-Tax Revenues of the Central Government
- Trends of Revenue of the Central Government
- Expenditure of the Central Government
- Capital Expenditure and Capital Receipts
- Trends in Expenditure of Central Government
- Budgets of State Governments
- Current Revenues of State Governments
- Statesâ Taxes on Income
- Statesâ Tax on Property and Property Transactions
- Taxes on Commodities and Services Imposed By State Governments
- Excise Duties of States
- A Critique of Sales Tax
- Value-Added Tax
- Efforts at Fiscal Consolidation and the Appointment of Kelkar Committee
- Discussion Questions
- Chapter 64 Foreign Direct Investment
-
Chapter 65 Financial Sector Reforms in India
- Introduction
- Role of the Financial Sector in the Economy
- Developments Leading to Financial Sector Reforms
- Problem Areas that Needed Solutions
- Recommendations of the Narasimham Committee on the Financial System
- The Narasimham Committee IIâS Recommendations
- Implementation of Recommendations
- Criticism
- Positive Impact of the Committeeâs Recommendations
- Insurance Sector Reforms
- Recommendations of the Malhotra Committee
- Debate on Insurance Industry in India
- Discussion Questions
-
Chapter 66 Corruption, Whistle-Blowing and the Right to Information Act
- What is Corruption?
- Indian Scenario
- How can the Government Prevent Corruption?
- The 2G Spectrum Scam
- Widespread Corruption in Corporate India: an Mora Study
- Computerization can Help Combat Corruption
- Ill Effects of Corruption on Indian Economy
- Indirect Effects of Corruption on the Economy
- Corruption Perceptions Index
- Anti-Corruption Movement in India
- Discussion Questions
- References
Product information
- Title: Indian Economy
- Author(s):
- Release date: August 2015
- Publisher(s): Pearson Education India
- ISBN: 9789352861217
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