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Deb, Rajat
- An Empirical Study on Chit Fund Crisis in Tripura
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Authors
Affiliations
1 Department of Commerce, Tripura Central University, Suryamaninagar, West Tripura, IN
1 Department of Commerce, Tripura Central University, Suryamaninagar, West Tripura, IN
Source
International Journal of Business Ethics in Developing Economies, Vol 3, No 1 (2014), Pagination: 47-57Abstract
The study examines the motivating factors of the respondents for investment in chit funds, perception towards chit fund companies and strategies to properly manage chit funds of Tripura. It obtained primary data from 160 respondents from all the eight districts of the state using quota and convenient sampling technique through questionnaire and personal interviews. Different statistical tests like Mann-Whitney U test, Pearson's Chi-square test, factor analysis like Principal Component Analysis were performed to assess support for the hypotheses. The reliability of the questionnaire and sample adequacy test was also carried out.The results of data analysis reveal that exorbitant rate of interest offered by chit fund companies, lack of industrialisation, financial illiteracy and rigid banking formalities are the key motivating factors for investment. The study indicates that excessive greed, absent of Government's small investment schemes, multiregulations, political patronage, weak Chit Fund Act are the causes behind scams and frauds. The study further emphasizes on provision of CAG audit,proper coordination among regulators, inclusion of Government's nominees in the Board of Management of chit funds, exercising control in the scope of operations as well as investors' education.Keywords
Collective Investment Scheme (CIS), Chi-Square Test, Mann-Whitney U Test, Descriptive Statistics, Rotated Component Matrix.
References
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- A Practical Approach towards Managing Government Funds in Tripura
Abstract Views :315 |
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Authors
Affiliations
1 Department of Commerce, Tripura Central University, West Tripura, IN
1 Department of Commerce, Tripura Central University, West Tripura, IN
Source
International Journal of Business Ethics in Developing Economies, Vol 4, No 1 (2015), Pagination: 24-33Abstract
The study examines the perception of the employees working in different State Government Departments in Tripura, and of university and college students about funds management in government sector. It obtained primary data from 160 respondents consisting of 96 men and 64 women from all the eight districts of Tripura using judgement and quota sampling technique through schedule and personal interviews. Different statistical tests like Student's t-test, Pearson's Chi-square test, and factor analysis like Principal Component Analysis were performed to assess support for the hypotheses. The reliability of the questions and sample adequacy test was also carried out. Through factor analysis, four major factors viz. perceptions about the philosophy of Government accounting, perceptions about lack of financial literacy of the DDOs, perceptions about dysfunctional bureaucracy, and perceptions about slack monitoring and controlling of Governments fundswere extracted. Based on such factors,Student'st-test was carried out. PCA has been carried out in order to analyse the various components and Chi-square test was carried out to know the association of the male and female respondents' perceptions about effective funds management strategies. The results of the study suggest that DDOs lack adequate financial education, they blindly trust the cashier, and books of records are not properly maintained and updated. It also suggests that periodical training; regular updating of books of accounts, accessing net banking facility for keeping vigil and continuous internal control and audit should be initiated for efficient funds management and to prevent employees' fraud.Keywords
Funds Management, DDO, Audit Report, Factor Analysis, Student’st-Test, Pearson’s Chi-Square Test.References
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- Farm Loan Waivers and Tax Payers’ Morale:A Dilemma
Abstract Views :413 |
PDF Views:1
Authors
Rajat Deb
1,
Arobindo Mahato
2
Affiliations
1 Assistant Professor, Department of Commerce, Tripura University, Suryamaninagar, West Tripura, Tripura, IN
2 Assistant Professor, Department of Rural Studies, Tripura University, Suryamaninagar, West Tripura, Tripura, IN
1 Assistant Professor, Department of Commerce, Tripura University, Suryamaninagar, West Tripura, Tripura, IN
2 Assistant Professor, Department of Rural Studies, Tripura University, Suryamaninagar, West Tripura, Tripura, IN
Source
International Journal of Business Ethics in Developing Economies, Vol 8, No 2 (2019), Pagination: 39-43Abstract
Pressure has been mounting on central government for announcement of farm loan waivers before the Lok Sabha election due in first half of 2019 inasmuch; three state governments of Hindi heartland viz. Rajasthan, Madhya Pradesh and Chhattisgarh in December, 2018 have announced the same for executing their pre-poll commitments. The interest rate subventions and excessive subsidized fertilizers have not so far been yielded the desired outcomes hence for viable and sustainable farming government should come out with alternative ways for supporting them rather simply banking upon blanket waivers without analyzing the associated pros and cons and impact analysis. The repetitions of such waivers in long run would likely to demotivate the taxpayers and the cases of tax evasions probably to increase in leaps and bounds, inasmuch even after seven decades of independence the Indian tax system has not been reached to such a level of full proof as well as fraud proof. The economists have categorically warned about the adverse consequences of such blanket waivers along with taxpayers reservations have been highlighted on such political gimmicks at the costs of economic growth and development; the alternative ways for addressing farmers’ plight have also been indicated.Keywords
Farm Loan Waiver, Economic Growth, Taxpayers, Informal Credit, Political Gimmick, MSP.References
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