Corporate Social Responsibility: Is the CSR Law Serving the Purpose it Should Be?

Corporate Social Responsibility (hereinafter “CSR”) had emerged as a means to hold companies and organisations accountable for the impact of their actions and operations on society. The idea behind CSR is that Business Organisations generate profits by utilising the community and environmental resources by way of labour and raw material, and so must return at least some part to society by way of quality products, employment generation, and so on. CSR has come a long way from being merely a concept of philanthropy to a mandatory law in India. The paper is an analysis of whether the CSR law has been able to serve the purpose for which it was enacted. It seeks to look into whether or not CSR should have been made mandatory at all. This paper questions the need for a CSR law in India or if it instead works as a mechanism agenda for the government to shift its responsibilities (towards the community) to the corporate sector.

Assessment of Global COVID-19 on SMEs

The purpose of study is the assessment of global Covid-19 on small and medium scale enterprises (SMEs) with the case of Technological Incubation Centre (TIC), Ibadan. Three research objectives were raised. A descriptive survey research design was used. The population of the study is 29 (twenty-nine). Total Census survey was adopted as the sampling technique. SPSS software 20 analysis was used to analyze the data. The study concluded that, there has been increase in all the inputs needed for the production processes at the Centre. Therefore, sales of goods at the period of the Covid-19 have been negatively affected, which has similarly impacted on employment generation. It’s recommended that the management of the TIC should assist the businesses to mitigate the adverse effect of the Covid-19; while the Nigerian government should consider the SMEs as an important sub-sector that could restore the economy to the period of better economic growth.

Effect of COVID-19 on Socio-economic Status of Entrepreneurs Engaged in Mithila painting

Mithila painting is a business or source of income of the artist around the Mahbubani district of northern Bihar. Livelihood of these people depend on this painting but during COVID-19 pandemic these artists faced many troubles because all shops were closed due to the lockdown and tourists could not visit here, so it worstly affected their selling of products. The socioeconomic status of entrepreneur is combination of economic and sociology that measure total work experience of an individual or whole family income and social position in community. High socioeconomic status enhances the social standing of entrepreneur in community. The activity of entrepreneur depends on economic, social and psychological factors. A structured questionnaire method was used for collection information from Mithila’s painting professional artist and specialist. The study was carried out in Madhubani district of Bihar. For the analysis, a total of 60 samples of female were taken from 2 blocks i.e. Rahika and Rajnagar of Madhubani district. Results of the research investigation are showed that Majority of respondents have significant changed in their family occupation, ownership of fixed assets, farm assets and annual income between before and during crisis. Finding revealed that Majority (83.33%) of respondents diverted Mithila painting in mask making during pandemic crisis for employment generation

Performance of Entrepreneurs in North Eastern Region

Entrepreneurship development through micro enterprise is an economic venture by which a large number of people can be changed within a short period of time especially from the point of view of employment generation. It provides tremendous opportunities for an entrepreneur to start a new creation. It helps to change the life of an entrepreneurs into a new direction. For changing the life of an entrepreneur, motivation is very essential, because without motivation no one can choose entrepreneurships as a profession. As we know it very well, that motivation is the ultimate key of starting a new venture in any trade. So it is very much important to motivate a person to understand his or her inner qualities to start a new profession for economic development. This study was conducted in the state of Assam. The nature of the study was both Exploratory and Descriptive. For selecting the representative sample for the study, simple random sampling method was adopted for selection of the districts. CRD analysis highlights the significance difference among all aspects of empowerment.

Impact of National Horticulture Mission on the Status of Beneficiary Farmers in Rajasthan District of India

India is mainly an agriculture-based country where majority of the people are engaged in agriculture. Diversified and boosted growth in agricultural is dependent upon the development of horticulture sector. Recognizing the importance of horticulture in stimulating the growth of Indian agriculture, government of India had launched NHM for the holistic development of this sector. NHM playing a important role in increase area as well as productivity of horticultural crops through motivation of farmers, providing guidance, subsidy and other facilities. It also plays an important role in improving the living standard of the farmers. It is a centrally sponsored scheme, launched by the Department of Agriculture & Cooperation, Ministry of Agriculture, Government of India during 2005-06. Hence keeping the above facts in mind, the present study was conducted in 2020 to determine the socio-economic impact of NHM on the status of beneficiary farmers in Jaipur and Tonk districts of Rajasthan. A total of 240 beneficiary farmers were included in the sample of study. Study shows that NHM have positive impact with regard to occupation, annual income, saving pattern, expenditure, material possession, social development and employment generation of beneficiary farmers in the selected district. Thus, NHM improve overall socio-economic status of farmers.

Growth Elasticity of Poverty in Nigeria: Empirical Analysis

This study examined growth elasticity of poverty (GEP) in Nigeria, using elasticity procedure with data from the 2020 World Bank World Development Indicators and Nigerian National Bureau of Statistics (2020), covering the period 1992-2019. The findings showed 77.1% of the GEP coefficients as positive; signifying failure of economic growth to alleviate poverty in the country. It is therefore imperative for Nigeria to initiate and implement policies covering employment generation, good governance, reduction in all forms of inequalities, functional education, among others for growth to engender poverty reduction among the citizens.

Historical Evolution of Sustainable Community Economic Development in Business and Economics

Objective - Sustainable Community Economic Development (SCED) has gradually changed overtime from production philosophy to the welfare ideology of assuring a better future for a resilient community in business and economics. SCED contributesto poverty alleviation, employment generation, sustainable community design, disaster control and resilience, biodiversity protection, and much more.The objective of this study is to conduct a literature review of this concept fromthe global and Bangladeshi perspective. Methodology - Peer reviewed publications in English language were considered indexed on the Scopus and Web of Science database. The study designed 2timelines of SCED concept evolution based on the information derived from the existing peer-reviewed publications. Findings - Both timelines (global and Bangladeshi) were found interrelated on some points, especially the third phase of the global SCED connected with the first phase of Bangladesh's SCED timeline, immediately after the Liberation War. Novelty - The study concludes that SCED is an ever-changing area of research and future research would reveal more sustainable features that would increase the sustainability and resilience of the business community. Type of Paper - Review Keywords: Economic Development; Community Economic Development; Sustainable Community Economic Development (SCED); Bangladesh; NGOs; MFIs. JEL Classification: F63, O1, O50.

Does the Formal Financial Sector Enhance Small Business Employment Generation in Nepal: Evidence from Cross-Sectional Data

Small business enterprises are widely recognized as a driving force of economic growth and development in any nation. Empirical evidence has shown that they contribute to job creation, help to alleviate poverty, and increase a nation’s level of productivity. In the exponential increase of small businesses, the role of the financial sector is crucial. This paper aims to identify the role of formal financial support in small business employment generation in Bouddhanath, Kathmandu. The study adopted a descriptive research design. Purposive sampling was used to select 285 business owners. A structured questionnaire was designed to collect their responses. Primary and secondary data was employed to analyze user status. Data analysis was performed with the help of descriptive analysis and a financial support index. The results showed that financial support plays a critical role in the enhancement of the small business sector, allowing businesses to create employment opportunities which further helps to maintain the Nepalese economy. The major challenges to the growth of small businesses in Nepal lie in securing initial funding and overreliance on credit. In addition, the ability to afford quality staff has an equally strong effect on the success of small businesses. Business growth clearly depends on the role of the formal financial sector to achieve the desired outcomes.

Disturbance of Mangrove Forest Due To Climate Change: The Prospects of Sundarban

Mangrove forest has a significant importance in protecting natural disaster, environmental sustainability and in local economy. In Bangladesh, only mangrove forest Sundarban also servicing for environmental sustainability, protecting tropical cyclone, local employment generation and so on. Thus, its natural properties are being hampered through people involvement and natural calamities. Moreover, Rapid population growth and climate change stimulating these disturbances of natural properties of Sundarbans. This paper aim at how climate change is disturbing mangrove forest in Bangladesh and how this disturbance may be threatful for future environmental sustainability. Interrelation between climate change and disturbance of Sundarbans has been established through various exiting literature review and for quantifying the amount of disturbance remote sensing data has been applied and future threat of environmental sustainability has been assessed by comparing regeneration capacity of Sundarban after a tropical cyclone and amount of disturbance by a tropical cyclone. Result found that climate change increasing the frequency of natural calamities and affecting significantly on mangrove forest due to its complex bio-diversity and strategic location before regeneration of disturbance. On the other hand, threat of mangroves as well as environment is associated with temperature rising, ice melting and sea level rising are increasing because of frequent occurrence, magnitude as comparing with regeneration capacity.