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Maji, Sumit Kumar
- Growth of the Industries under Alternative Policy Regimes:A Disaggregated Policy Review with Special Reference to Indian Manufacturing Sector
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1 Department of Commerce, The University of Burdwan, West Bengal, IN
1 Department of Commerce, The University of Burdwan, West Bengal, IN
Source
Journal of Commerce and Accounting Research, Vol 6, No 2 (2017), Pagination: 40-49Abstract
The ever increasing role of the manufacturing sector in realising the dreams of establishing the 'socialistic pattern of the society' can never be undermined in the context of Indian economy. Since independencea number of industrial policies were taken up to foster the growth of manufacturing sector and other industries in India. The first phase of globalisation measures were initiated in late 1980s which resulted into an unsustainable growth story led by huge external borrowing andthat ultimately culminated into the exchange rate crisis of 1991. In combating with such a severe crisis, the New Economic Policy was promulgated on 24th July, 1991 following the Structural Adjustment Programme (SAP) initiated by the Government of India as per IMF directions. The present paper evaluates the growth of the industry especially manufacturing industry under alternative policy regimes. Aggregate data on national economy and manufacturing sector were collected from National Account Statistics accessed from EPW Research Foundation database. The analysis of the study suggested that the growth of GDP of Indian economy and manufacturing sector (both registered and unregistered) stepped up notably in the post-liberalisation period as compared to those in the pre-liberalisation era indicating the positive impact of the liberalisation measures on the economy in general and manufacturing sector in particular. The capital formation of the manufacturing sector was also positively influenced by the pro-market reforms policies initiated in the late 1980s and in the early 1990s. The productivity of the manufacturing sector improved in the post-liberalisation era as compared to the pre-reform period as signified by the decreasing capital output ratio in the post-reform regime.Keywords
New Economic Policy, GDP, Capital Formation, Liberalisation, Regulation, Industry.References
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- Ethical Issues Relating to India’s COVID-19 Vaccine Policy: An Idealistic vis-à-vis Realistic Perspectiv
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Authors
Affiliations
1 Assistant Professor, Department of Commerce, The University of Burdwan, West Bengal, IN
2 Professor, Department of Commerce, The University of Burdwan, West Bengal, IN
1 Assistant Professor, Department of Commerce, The University of Burdwan, West Bengal, IN
2 Professor, Department of Commerce, The University of Burdwan, West Bengal, IN
Source
International Journal of Business Ethics in Developing Economies, Vol 10, No 2 (2021), Pagination: 7-14Abstract
The socio-economic challenge emanating from the COVID-19 pandemic can be effectively arrested by inoculating the people all over the world. Tiding over the pandemic warrants vaccine solidarity by ensuring equity in the vaccine distribution among the countries around the globe. However, the Vaccine Nationalism (VN) attitude of many countries, especially the countries from the global north, is threatening the global fight against the pandemic. VN refers to the problem of the rich or vaccine-developing countries securing a majority of the supplies of vaccines initially to inoculate their own population. In this backdrop, the article highlights the case of the vaccine diplomacy of India, the domestic problem of vaccine shortages, and future directions. The vaccine diplomacy strategy adopted by India can be viewed as a humanitarian approach in the spirit of considering the world as one family from the idealistic viewpoint, whereas such steps can be seen as a strategic measure to counter China’s dominance in South Asia and also to reposition its global image. Such initiatives are also in line with South-South Cooperation and South-South and Triangular Cooperation. However, trading-off between domestic vaccine requirements and foreign vaccine requirements is extremely important for India, considering its huge population. Scaling up vaccine production by ensuring voluntary licensing for Indian origin vaccines, tackling vaccine hesitancy, and eventually, promoting vaccine solidarity will remain at the centre of the vaccine policy decision in the near future.Keywords
COVID-19 Vaccines, Vaccine Solidarity, Vaccine Nationalism, Vaccine Diplomacy, South-South Cooperation, South-South and Triangular CooperationReferences
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