Growth of Industrial Production in Selected Indian Manufacturing Industries: Is It Productivity Driven or Input Accumulated?

The present article attempts to examine the contribution of inputs and total factor productivity growth to the growth of output by considering the aggregate manufacturing sector and seven selected manufacturing industries of India during the period 1979-80 to 2003-04. Major findings of the study indicate that output growth in the selected Indian manufacturing industrial sectors is driven mainly by inputs accumulation while the contribution of total factor productivity growth remains either minimal or negative. The growth rate of total factor productivity in almost all the industries under our study is gradually declining, especially during the post-reforms period. The change in pattern of sources of output growth may have taken place due to liberalization policies and structural reforms undertaken during the 1990s. Copyright © www.iiste.org Key words: Growth, productivity, input, manufacturing, industry, India

Reviewing Performance of Indian Sugar Industry: An Economic Analysis

This paper attempts to measure the economic performance of Indian sugar industry in terms of capacity utilization measured econometrically at aggregate level over a period from 1979-80 to 2008-09. In this study, Optimal output is defined as the minimum point on the firm's short run average total cost curve and the rate of capacity utilization is merely ratio of its actual output to capacity output level. Under Choice theoretic framework, the results suggest that a significant variation in the capacity utilization rates over years within same industry was found. There has been diminishing capacity utilization growth rate in this industry during post reform period. The impact of liberalization on economic capacity utilization of Indian sugar industry is noticed to have significant negative impact. Key words: Capacity, utilization, India, sugar, industry, liberalization

Recent Currency Demonetization and Its Probable Impact on Indian Economy

The BJP led government in India has made a surgical strike on black money on November 8, 2016 to wipe out black money, counter tax evasion and destroy counterfeit currency. Demonetization as a clean-up exercise may turn out several excellent changes in the economy. At the same time, it generates inescapable income and welfare losses to the poor sections of the society. The demonetization exercise may produce following short term or long term, consumption, investment, welfare, growth impact on Indian economy. The object of the article is to assess the probable effect of demonetization on Indian economy. Keywords: Demonetization, India, GDP, inflation, interest, repo, reverse republic money, counterfeit currency etc

Globalization and Economic Growth in India: A Granger Causality Approach

Today, the term 'globalization’ has become a buzzword in any economy all over the world. The growing integration of economies and societies all over the universe has been one of the most burning topics in international economics over the past few years. Globalization has many dimensions and has a variety of social, political and economic implications.This paper attempts to enquire into the fact econometrically whether globalization is a cause of India‘s economic growth in the long run. More precisely, the article tries to find the causal relationship between globalization and economic growth in India. The regression results show that private investment, openness and human resource development have significant positive impact on economic growth via GDP growth. Financial integration variable (capital inflow+capital outflow) has negative impact, although not significant, on economic growth and public investment is also having insignificant positive impact on economic growth. Johansen’s cointegration procedure showed that all the above-mentioned variables are cointegrated implying these macro economic variables have long-run equilibrium relationship with economic growth via GDPgrowth. Error-correction model results also supported the cointegration results. We observe that the direction of causality between globalization and economic growth in India is generally bidirectional (causality runs in both directions) excepting a few where it is unidirectional. Keywords: Globalization, economic growth, causality, opneness, financial integration, GDP

A Post-Liberalization Period Analysis of Industry Specific Economic Factors Affecting Capacity Utilization in Indian Aluminium Industry

The present study attempts to analyze the nature of quantitative relationship between different industrial characteristics and capacity utilization using industry- level and company-wise time series data in the context of Indian Aluminium Industry during 1991, 92 to 2004, 05.Applying a liner multiple regression model with time variable, it is evident that capacity utilization is positively related to demand pressure, Capital Intensity and market concentration variables and time has a very smaller (Significantly different from zero ) effect on capacity utilization. But scale of operation variable represented by market share shows confusing and statistically insignificant result which is contrary to our hypothesis. Key words: Aluminium, industry, liberalization, capacity utilization, India, factors

Socio-Economic and Profitability Analysis of Date Palm Molasses(GUR) Industry in India: A Field Survey Based Study

Date palm molasses in rural Bengal of Indian subcontinent is well-known during winter for its taste, fragrance and its role as basic ingredient of sweet making. Study on date palm molasses is found to have its traditional importance to the place or places where most of the date palm trees are concentrated. The objective of the present survey based study is to analyze the socio economic profile like lifestyle, educational background as well as family profile of the said molasses entrepreneurs and profitability pattern of traditional skill based date palm molasses venture at Shyampur area of Howrah district, West Bengal, India. The study has been conducted by survey method by taking primary or raw data collected from field survey. For the purpose of the study, we have surveyed five date palm molasses entrepreneurs at Shyampur area of Howrah District, West Bengal, India. From the study, it has been found that all the entrepreneurs have earned sufficient amount of profit from this traditional knowledge based industry .For enhancing efficiency and reducing risk to artisans in climbing trees, methods like aerial rope ways and bamboo ways have to be introduced in the field. As suggestive measure, it can be inferred that the artisans should be brought under the insurance coverage from protecting them from losses arising out of natural calamities and should be given amenities on training program, input availabilities, credit facilities and amenities for education so that they can be well responsive of their problems. Keywords: Date palm, molasses, India, profitability

Econometric Analysis of Productivity Growth in Indian Leather Industry

The article tries to evaluate performance of Indian leather industry in terms of labour productivity growth and total factor productivity growth for the period; 1979-80 to 2008-09.SWOT analysis has also been conducted in estimating the industry‘s future growth prospects. The results on labour productivity of factors show improvement in productivity of labour during specific post-reform period (1990-91 to 1999-2000) but during the present decade (2000-01 to 2008-09) of post reform period, labour productivity growth has been declined negatively. Using Translog Divisia approach under three inputs framework, the result on the overall productivity displays that total factor productivity growth has dramatically improved during post-reform period as compared to pre-reform period. The liberalization process is found to have favourable impact on total factor productivity growth. Comparative picture of strength, weakness, opportunity and threat definitely suggests that the realization of potential growth for Indian leather industry, though seems difficult, is not impossible. The industry certainly can achieve its potential provided efforts are made at the planning and policy level to ease its constraints. To put it in other words, Indian leather industry can meet the challenges of globalization if appropriate steps are taken by the state in a timely manner.Key words: Leather, productivity, liberalization, growth, industry

A Close Look into Double Taxation Avoidance Agreements with India: Some Relevant Issues in International Taxation

In the current era of cross -border transactions across the world, due to unique growth in international trade and commerce and increasing interaction among the nations, residents of one country extend their sphere of business operations to other countries where income is earned. One of the most significant results of globalization is the noticeable impact of one country's domestic tax policies on the economy of another country. This has led to the need for incessantly assessing the tax regimes of various countries and bringing about indispensable reforms. International double taxation has adverse effects on the trade and services and on movement of capital and people. Taxation of the same income by two or more countries would constitute a prohibitive burden on the tax-payer. In view of the above discussion, the article attempts to evaluate various facets of bilateral Double Taxation Avoidance Agreements (DTAAs) with particular reference to India's network of DTAAs as a tool of tax coordination used by nations to distribute rights to tax different bases in the global fiscal commons. More precisely, an attempt has been made, in this article, to analyze and provide a brief account of the various insights in respect of double taxation avoidance agreements with India. By means of Double Taxation Avoidance Agreements, each country accommodates the claims of other nations within their fiscal arena to develop international trade and investments with minimal barriers. However, the international tax regime has to be restructured constantly so as to respond to the current challenges and drawbacks. Keywords: Double taxation, avoidance agreements, India, bilateral, income tax

Financial Performance of Paper and Paper Product Companies in India in Post-Liberalization Period: An Exploratory Study

This paper analyses the financial performance of Indian paper and paper product companies using data from CMIE over the period, 2000-01 to 2008-09.The analysis has been conducted from seven key financial dimensions, namely, financial profitability, capital structure, operational efficiency, fixed asset age, current asset efficiency and liquidity position. .The financial performance analysis identifies financial strength and weakness of the firms within paper industry. The study suggests that liquidity position and profitability of the industry as a whole are sound and strong ensuring good liquidity management and better profitability to both investors as well as entrepreneurs. The study reveals that high and gradually increasing current asset turnover has been a contributing factor responsible for ensuring current asset efficiency which means that resources like current assets of the firms of the industry are getting utilized more efficiently. But, dividend payment being lower, the companies need to improve the quantum of dividend payment in order to satisfy the investors without affecting the future expansion and modernization programmes of the sector. Moreover, companies should make a concerted effort in maximizing assets and minimizing liabilities so that overall financial position could be improved. Key words: Paper, industry, financial performance, multiple regression, India

An Analysis of the Effect of Merger of Western Union Bank with Industrial Development Bank of India during Post Liberalized Regime

The article critically analyzes and evaluates the impact of merger of Western Union Bank with IDBI during Post Liberalization Regime in terms of different parameters with special reference to merger and acquisition. The study has further attempted to investigate and test whether there exist any significant deviations in the results achieved by the banks after merger. For conducting the study, Shapiro-Wilk normality test and Wilcoxon Paired Sign-Rank test was conducted for factors not following normal distribution. Thereafter, we compared means of the performance parameter over time i.e. before the merger vs after the merger. T-test and Wilcoxon test were chosen because those are popularly used for computing pre-post analysis of a phenomenon. The different parameters chosen for study were ROA, CDR, IDR, PSA, DPE, APE, IITI, NIITI, IETE, EETE, OOETE, STA, IIAWF, NIIAWF, OPAWF, NNPANA, CAR. Paired Samples t Test suggests that there is significant difference in case of only a few pre and post merger financial parameters and most of the financial parameters undertaken in our study do not have any significant pre and post difference in operating performance level