THE HEALTHY INTEGRATION: MODERN ECONOMICS AND CHANAKYA’S ARTHASASHTRA

2021 ◽  
Vol XIII (1) ◽  
pp. 91-119
Author(s):  
Dr. Sudip Chakraborty ◽  
◽  
Mrs. Durba Dutta
Keyword(s):  
Evolutionary Process ◽  
Sustainable Growth ◽  
Constitutional Amendment ◽  
State Function ◽  
Ancient India ◽  
Indian Economy ◽  
Gradual Process ◽  
Economic Strategies ◽  
Bankruptcy Code ◽  
Global Growth

Economic Evolution is a gradual process. It takes ages to develop and convert any country into meaningful and sustainable growth engines. The Indian Economy is no exception to this evolutionary process. In spite of the successful completion of the Five-Year Plans from 1951 to the Twelfth Five-year plan ( 2012-2017) , Indian Economy has still been reeling with challenges like Population Growth, Crumbling Infrastructure, Terrorism, Corruption, Inadequate Taxation and Unemployment. However, there is a shift in the economy post Liberalization. Since 1991, the economy has been transformed from a closely held inward looking economy to a driving force of global growth. Recently there has been a concentrated effort to reform the cobweb of taxes across the Indian Economy which is reflected in the Constitutional Amendment Bill for GST and its implementation, Demonetization of High Denomination Bank Notes, enactment of Insolvency and Bankruptcy Code, enactment of Aadhaar Bill for disbursement of financial subsidies and benefits. There has been an overall complex- security development matrix in India. The sudden economic upheavals intrigue one to think if there exists any root or connection of the various economic strategies and their origin in India, or they are simply borrowed from the western economic theories. Arthashastra, by Chanakya, being a very famous Indian treatise on politics, economics, military strategy, state function and social organization of ancient India, an attempt is made to relate the contemporary economic scenario with those mentioned in the Arthashastra. The paper shall try to reflect the connectivity of various functional roots from Kautilya to kalyug.

Non-economic impact of craft brewery visitors in British Columbia: A quantitative analysis

2021 ◽  
Author(s):  
Jarrett R. Bachman ◽  
John S. Hull ◽  
Byron Marlowe
Keyword(s):  
British Columbia ◽  
Positive Impact ◽  
Sustainable Growth ◽  
Wine Industry ◽  
Future Research ◽  
Craft Beer ◽  
Beer Industry ◽  
Self Image ◽  
Gender Education ◽  
Global Growth

The number of craft breweries in British Columbia has grown significantly in recent years,numbering over 140 in 2017. Very little is known about the effects of the craft brewery industryin British Columbia, specifically as it relates to impacts not related to brewery revenue and jobcreation. Beyond British Columbia, the craft beer industry has not empirically examined non-revenue impacts in a manner that reflects the global growth of the sector. Tourism experiences,such as those offered by craft breweries, are becoming increasingly important for resilience and sustainable growth and success of destinations. The goal of this research was to determine whovisitors to craft breweries are, how tourist and resident patrons differ, and what effects craftbreweries have on tourists who visit breweries. A 55 item survey was distributed at 11 craftbreweries in three regions in British Columbia during the summer of 2017. Results founddifferences between tourist and resident patrons in self-image congruency, age and travel partysize, but no difference in gender, education, or household income. From a tourism standpoint, itwas found that memories have a significant, positive impact on loyalty regarding the breweryand the destination. For tourists, strong connections were found between social involvement andboth authenticity and place attachment for those who were more socially involved in craft beer.Comparisons to previous research in the wine industry provide additional commentary.Implications for craft breweries, destinations, and future research in this area are discussed.

scholarly journals An Exploratory Study of How Latecomers Transform Strategic Path in Catch-Up Cycle

2021 ◽  
Vol 13 (9) ◽  
pp. 4929
Author(s):  
Xiaoli Li ◽  
Hongqi Wang
Keyword(s):  
Technological Innovation ◽  
Industrial Policy ◽  
Emerging Economies ◽  
Evolutionary Process ◽  
Sustainable Growth ◽  
Rolling Stock ◽  
Innovation Capability ◽  
Firm Level ◽  
Industrial Leadership ◽  
Catch Up

In catch-up cycles, the industrial leadership of an incumbent is replaced by a latecomer. Latecomers from emerging economies compress time and skip amplitude by breaking the original strategic path and form a new appropriate strategic path to catch up with the incumbents. Previous studies have found that the original strategic path is difficult to break and difficult to transform. This paper proposes a firm-level framework and identifies the impetus and trigger factors for latecomers to transform the strategic path. The impetus is the mismatch between strategic mode and technological innovation capability. The trigger is the progressive industrial policy. Based on a Chinese rail transit equipment supplier’s (China Railway Rolling Stock Corporation; CRRC) catch-up process, this paper finds that the strategic path transformation is an evolutionary process from mismatch to rematch between strategic mode and technological innovation capability. With the implementation of industrial policy, the technological innovation capability will change. The original strategic mode does not match with changed technological innovation capability, which leads to performance pressure. With the adjustment of industrial policy, a new strategic mode adapted to new technological innovation capability emerges. This paper clarifies the source that determines successful catch-up practices for latecomers and contributes to latecomers’ sustainable growth in emerging economies.

Global rebalancing to support sustainable growth

2015 ◽  
Keyword(s):  
Global Economy ◽  
Oil Prices ◽  
Sustainable Growth ◽  
Low Energy ◽  
Energy Prices ◽  
Current Account Surplus ◽  
Content Type ◽  
Percentage Points ◽  
Advanced Economies ◽  
Global Growth

Significance Risks to its central scenario are more balanced and less skewed to the downside. Global imbalances are shrinking, partly thanks to low oil prices. This is boosting disposable income in oil-importing countries at the expense of oil-exporting ones. The dollar's strength is also helping rebalance the global economy, although the euro-area's growing current account surplus is contentious. Impacts Disinflation has become widespread, especially within advanced economies, but should be temporary. Low energy prices are estimated to add between 0.5-1.0 percentage points to global growth by 2016. A revision of guidelines and rules is required to reduce the risk of another financial crisis.

scholarly journals CIRP RE-ENGINEERING AND RE-STRUCTURING UNDER INSOLVENCY AND BANKRUPTCY REFORMS

2021 ◽  
Vol 5 (3) ◽  
pp. 116-125
Author(s):  
Joy Kattadiyil Binoy ◽  
◽  
Bakhtiyor Anvarovich Islamov ◽  
Keyword(s):  
Literature Review ◽  
Research Methods ◽  
Corporate Restructuring ◽  
Business Strategies ◽  
Indian Economy ◽  
Bankruptcy Code ◽  
The Impact

Introduction. This article discusses the theory of corporate restructuring and its importance in the country. Business restructuring is the redesigning of existing business strategies and aspects for various reasons. Usually a corporate’s varied challenges and financial adjustments to its assets and liabilities necessitates this process. It analyses how the different avenues of business restructuring exercises such as mergers, acquisitions, amalgamations, compromises, and arrangement are processed with in respect to the process provided under the Insolvency and Bankruptcy Code 2016. Introduction followed by brief Literature Review. Research methods are exploratory in nature, since the study has to explore the impact of IBC on Indian Economy. Results and discussions.

INNOVATION AND ECONOMIC GROWTH: A CASE OF INDIA

2017 ◽  
Vol 5 (2) ◽  
pp. 64 ◽  
Author(s):  
Sushma Shukla
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Sustainable Growth ◽  
Series Data ◽  
Original Research ◽  
Education Spending ◽  
Indian Economy ◽  
Goods And Services ◽  
Patent Applications

PURPOSEInnovation is often seen as one of a driving force for a sustainable long-term economic growth of any country. Indian economy is one of the fastest growing economies in this modern globalization world.  Indian economy is enjoying the average economic growth of 7% from last two decades but is this economic growth sustainable or only some short-term phenomena because of increasing consumer market and increasing information sector. To achieve long-term sustainable growth Innovation is very important. The purpose of this paper is to discover the role of innovation in the economic growth of India.METHODOLOGYThis paper defines innovation that includes both production of innovative goods and services, and the innovative process of producing goods and services.  World Bank’s data bank is the primary source of this study. Time series data has been used to study the variables. In this study to understand the economic growth, GDP growth Rate, GDP per capita growth Rate, and for Innovation R&D Expenditure, Education Spending rate, and Patent applications variables have been used.FINDINGSAccording to the result as Indian economy will grow economic it will decrease the R&D Exp, it will decrease the education spending, it will decrease the FDI, and it will also decrease the no of patent applications filed in India. This negative correlation raises the questions to the policy maker. These questions also open the door of future research in this field. SOCIAL/ PHYSICAL IMPLICATIONS OF STUDYThis study can provide some insights to the policy makers that can be helpful for the society in terms of efficient use of our resources.ORIGINALITY OF STUDYThis study is an original research

Subsidized Energy Pricing in Bangladesh and Consequences of Phasing Subsidy Out

2012 ◽  
Vol 622-623 ◽  
pp. 1896-1900
Author(s):  
Asif Ahmed ◽  
Choudhury Mohammad Shahariar ◽  
M.A. Rashid Sarkar
Keyword(s):  
Sustainable Growth ◽  
Policy Makers ◽  
Environmental Consequences ◽  
Energy Pricing ◽  
Long Run ◽  
Gradual Process ◽  
The Government ◽  
Almost All ◽  
Phase Out ◽  
Energy Subsidy

Subsidized energy pricing is a practice that has been followed by almost all the countries, especially developing countries. Despite the requirement of energy subsidy for an economy like one in Bangladesh, it is a parasite that slowly eats up government money and blocks the process of sustainable growth. Bangladesh is not a country which has enough energy resources to sustain for the long run. So, proper consumption and less wastage is a must requirement. Thus, phasing out energy subsidy through a gradual process is the only way to go forward. But, rationalizing energy subsidy has some consequences over the society, economy and environment. So, it is high time to promote rational energy pricing and to prepare for the consequences. The government and policy makers are expected to add up with the steps they are already taking to phase out energy subsidy and thus go for better energy security. In this paper we have discussed the present energy pricing in Bangladesh and the consequence she is going to face if subsidy is phased out. Also we have shown the environmental consequences due to energy subsidy along with a set of proper recommendations for our government to take Bangladesh in the path of sustainable development.

Democratic Erosion, Populist Constitutionalism, and the Unconstitutional Constitutional Amendments Doctrine

2020 ◽  
Vol 14 (1) ◽  
pp. 19-48
Author(s):  
Yaniv Roznai ◽  
Tamar Hostovsky Brandes
Keyword(s):  
Judicial Review ◽  
Constitutional Amendment ◽  
Constitutional Theory ◽  
Constitutional Change ◽  
Constitutional Amendments ◽  
Ongoing Process ◽  
Gradual Process ◽  
The World ◽  
Formal Procedures ◽  
Constitutional Changes

AbstractThe world is experiencing a crisis of constitutional democracies. Populist leaders are abusing constitutional mechanisms, such as formal procedures of constitutional change, in order to erode the democratic order. The changes are, very often, gradual, incremental, and subtle. Each constitutional change, on its own, may not necessarily amount to a serious violation of essential democratic values. Yet, when examined in the context of an ongoing process, such constitutional changes may prove to be part of the incremental, gradual process of democratic erosion in which the whole is greater than the sum of its parts. This Article explores how courts can respond to such constitutional changes. We argue the Unconstitutional Constitutional Amendment Doctrine should be adapted to respond to existing constitutional practices that utilize incremental and subtle amendments to dismantle the democratic order. We suggest that an aggregated judicial review should be developed. We must also rethink the automatic immunity – the result of two hundred years of revolutionary constitutional theory – provided to complete constitutional replacement from constitutional restrictions and scrutiny. Finally, as opposed to the instinct to require judicial self-restraint with respect to constitutional changes that concern the judiciary itself, we suggest that this is perhaps the type of changes that require strictest scrutiny.

Financial Performance Analysis of the Selected Cooperative Banks in Kerala

2020 ◽  
pp. 473-477
Keyword(s):  
Banking System ◽  
Sustainable Growth ◽  
Ratio Analysis ◽  
Agricultural Credit ◽  
Indian Economy ◽  
Management Efficiency ◽  
Cooperative Banks ◽  
Asset Quality ◽  
The Comparative Study ◽  
Ranking Technique

Co-operative Banks have assisted in enhancing the growth rate of Indian economy by providing a boost to agricultural production by making available cheap and easy agricultural credit in the country. A healthy cooperative banking system is vital for the Indian economy to achieve sustainable growth in a competitive environment. A comparative analysis of profitability, liquidity (debt coverage), management efficiency and asset quality were done using ratio analysis and through CAGR. Finally, the banks were ranked according to their performance using Garrett ranking technique. The comparative study was conducted among the selected cooperative banks for the period of 2012-13 to 2016-17, and the banks were ranked by considering various parameters of profitability, debt coverage, management efficiency and asset quality. Each bank was strong in different parameters. For better performance of the banks, it is recommended that they should increase the membership as it directly influences the deposits as well as loans. It is suggested to increase the investments by the co-operatives by diverting excess liquid cash maintained in the banks were possessing high cash to deposit ratio compared to commercial banks.

scholarly journals Growth and Working of Micro Small and Medium Enterprises in India: An Overview

2021 ◽  
Vol 8 (S1-Feb) ◽  
pp. 165-169
Author(s):  
Ramesha M C
Keyword(s):  
Small And Medium Enterprises ◽  
Sustainable Growth ◽  
Operational Flexibility ◽  
Gainful Employment ◽  
Indian Economy ◽  
The Government ◽  
And Performance ◽  
Medium Enterprises ◽  
Growth Economic ◽  
Investment Requirement

Micro Small and Medium Enterprises (MSMEs) is a vibrant and extensive sector of the Indian economy. It makes a significant contribution to the annual GDP, exports, and employment. In an environment of sustainable growth, economic reforms and, opening of the Indian economy. The role and importance of the MSME sector has become more significant. This sector is characterized by low investment requirement, operational flexibility, region mobility, and import substitutions. MSME Sector has been playing acrucial role in the overall economic development of a country like India and has the advantage of providing gainful employment opportunities with low investment and reduce regional disparities through the dispersal of industries into rural, semi-urban, and backward areas. This study makes an attempts to study the growth and, performance of MSMEs in terms of an increase in the number of working units, employment and investment levels in the recent past. This paper also tries to identify the problems faced by these units and the policy initiatives taken by the government.

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