Anweshan - journal of Department of Commerce, Vol. 06, No. 01

Permanent URI for this collectionhttps://ir.nbu.ac.in/handle/123456789/2965

EDITORIAL

This edition of Anweshan is a qualitative shift towards gradual up-gradation of the journal. An important point that needs to be reported at the very outset is that the Department of Commerce, University of North Bengal, has taken the decision to make the journal a double blind peer-reviewed one, especially for fulfilling the basic requirements of quality and enhancing the standard of the journal. To meet this requirement, considerable time had be spent in the review process and subsequently getting the articles modified and upgraded by the authors. Eventually, the process enables us publishing the articles, which are satisfying the benchmarks of academic standard.

Six valuable articles enrich this edition; for this I am thankful to the contributors for choosing the journal and enriching it with their valuable research findings. This needs a mention that we received overwhelming response from the authors. We hope the authors will equally exhibit their choice for the journal in the forthcoming editions.

It gives me immense pleasure to state that the articles are original products of honest research works and the ideas are pure. Secondly, articles reflect well organised application of empirical analyses. I hope that research articles published in this issue will add to the existing body of knowledge and fetch due recognition from academic world

This edition is going to be uploaded in the website of the university. For this I am thankful to the university authority and computer centre for their timely decision. I convey thanks to the librarian of North Bengal University for making arrangement for plagiarism check of submitted articles. It gives us the assurance that articles published in this issue are original. I am especially thankful to the board of esteemed reviewers, a galaxy of the renowned academicians, for their kind consent to act as reviewers of the journal. The most important point is that the honourable reviewers have generously spared their valuable time and reviewed the articles with their academic excellence. Without this help the journal could not be published. I convey due regards for each of the honourable reviewers. The Department of Commerce, University of North Bengal will acknowledge this help.

I am thankful to all the faculty members of the Department of Commerce, who extended all sorts of help in the processes of getting the volume published. Thanks are also due for each member of the organising committee along with the secretary of Two Days National Seminar on Advances in Business and Management. In fact, this seminar helped a lot in getting good articles for this volume.

Finally, I want to express my sincere thanks and gratitude to all technicians and personnel of the North Bengal University Press. It needs to be mentioned that without active support and cooperation of the superintendent of the Press Mr. Indranil Ray this volume could not be made so attractive.

Prof. Dipen Roy
Editor-in-Chief

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Now showing 1 - 6 of 6
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    The Impact of FDI Policy Reforms on The Retail Sector in India
    (University of North Bengal, 2019-03) Lama, Saraswati
    The Indian economy is booming, with an average GDP growth rate of more than 7 per cent (2014- 18) and is expected to be the world’s third largest economy after the USA and China by 2050 (Dadush and Stancil, 2009). India has witnessed a noticeable growth in the organized retail industry after the liberalization of the economy in the early nineties. Healthy economic growth, favourable demographic trends with young and thriving population, increasing disposable incomes, and urbanization are some of the factors driving growth in the organized retail market in India. According to A. T. Kearney’s Annual Global Retail Development Index, 2017, India ranks first among the top 30 emerging markets for retail globally. The present study aims at the investigating current retail scenario in India, analyzing the impact FDI reforms in attracting FDI in retail and evaluating the challenges and threats of FDI in Indian retail industry.
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    Study on The Labour Welfare of Tea Plantations in North Bengal Region
    (University of North Bengal, 2019-03) Roy, Nirmal Chandra; Biswas, Debasish
    Labour is one of the most important assets in any organization for the enhancement of productivity. The concept of ‘labour welfare’ is dynamic. Multifarious dimensions of labour welfare enable labourers to maintain a portly and a comfortable life. Consequently, it leads to higher productivity of labour and proficiency of an enterprise. It also amplifies the value of the existent labourers by circuitously release the compulsion on their purse. The Plantation Labour Act enshrines the welfare of the labourers by way of ensuring facilities such as canteens, crèches, transportation, recreation, education for the children, suitable house accommodation of plantation workers and for their families in and around the work places of plantation, etc. In the present study, a deliberate effort has been drawn up to showcase the existing scenario of labour welfare facilities among the tea estates owned by different tea companies located in the North Bengal region of West Bengal. For the purpose of the study, 33 tea estates have been selected scientifically from the study region. ANOVA technique has been used to analyze the collected data. The study has found the significant imparity based on the labour welfare expenses among tea estates of the study region.
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    Unemployment and Need for Sustainability of Micro, Small and Medium Sized Enterprises in India: A Study
    (University of North Bengal, 2019-03) Dey, Shuvendu; Basu, Analjyoti
    India is developing fast in different fields. Rapid economic development has placed India among the leaders in the world stage. However, to a great extent, growth and development scenario is being disturbed by the unemployment situation in the country. On the economic development front, inequality and increasing unemployment are the biggest challenges for the fast developing nation. Unemployment not only hits the financial and social stability but also reflects waste of productive resources of the country. To combat the situation, the union government has taken several steps. Creating a congenial atmosphere for entrepreneurial activities is one of them. The scholastic fraternity also supports the move for encouraging entrepreneurial activities to fight unemployment. However, the growth of entrepreneurship is not enough for a country. There is also the need for sustainability. The present paper, based on the aforesaid argument, discusses on the issues of government initiative, scholastic view on fighting unemployment, analysis of MSME growth in the country, and the sustainability measures in entrepreneurial growth.
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    Oil Price Shock and Its Effect on Stock Markets of India
    (University of North Bengal, 2019-03) Bagchi, Bhaskar; Mishra, Ansu
    The present study makes an attempt to investigate the effect of sharp continuous surging crude oil price on stock market indices of India, and also the long-term and short term relationships between crude oil prices and stock indices. The ‘period of the study’ spans from July 2009 to December 2016. We have found surge in oil price has positive correlation with equity indices and negative correlation with the exchange rates. The result is suited with the existing economic theory. Multivariate cointegration techniques along with vector error correction mechanism have been applied in the study.
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    Post-Reform Life Insurance Industry in India: A Study on Scale Efficiency
    (University of North Bengal, 2019-03) Sarda, Madhu; Ray, Indrajit
    Indian life insurance industry witnesses a rapid growth during the post-reform period. The current statistics on number of policies and branches, sum assured, premium, share capital, insurance penetration, insurance density etc., show noticeable hike, compared to their respective values at the outset of reform. Also, total fund registers a steep rise with a compound annual growth rate of approximately 17.90% in the last seventeen years. In view of this magnanimous growth of scale, represented here by the summation of total fund and income there from, the present article seeks to measure scale efficiency of the Indian public and private life insurance sectors, both sector-wise and in totality, during the post-reform period. This study applies Econometric Frontier Approach (EFA) to estimate Transcendental Logarithmic (Translog) cost function consisting of one output and two input variables, labour and capital for a time period from 2003-04 to 2017-18. Results on scale efficiency scores of private and public life insurance sectors are 0.274378 and 0.808870 respectively. However, though both the sectors exhibit scale economies, a cautious cost effective policy should be adopted in future by public life insurance sector to raise total fund and to invest them. Indian life insurance industry as a whole portrays huge opportunity to scale-up its total fund as current scale efficiency score is as low as 0.140533.
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    Economic Growth-Inflation Dynamic Trade-Offs in India: Stability Issues and Policy Implications
    (University of North Bengal, 2019-03) Das, Kalyan
    Endogenous and exogenous shocks disrupt macroeconomic stability. Growth, inflation and external balance are used to evaluate macro performance of an economy. Examining the relationship between inflation and gross domestic product (GDP) has long been an important field in macroeconomic research. This paper examines the nature of dynamic trade-offs between inflation and output and their direction of causation in the Indian economy utilizing time series dataset over the period from 1950-51 to 2015-16 employing together with unit root tests, cointegration regression and causality tests. There is strong evidence of their bidirectional causality. The empirical findings help to translate certain important theoretical issues on structural adjustment problems into various policy relevant solutions and interrelationships examining the role and conduct of macroeconomic stabilisation policies with particular emphasis placed on the specific episodes on macroeconomic dips, the existence of recessionary episodes, the counter-cyclical nature of inflation and the sustainability of macroeconomic policies.