General Impact Factor of Journal

Year JMME JCECS
2015 2.0778 1.7122
2016 2.3982 2.0546

Volume 05 No. 04 October, 2015

Title: Content

Page I-IV

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Title: Infrastructure Financing In India

Authors: Dr. M. K. Jain

Page 1-9

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The fast growth of the Indian economy has placed increasing stress on physical infrastructure such as electricity, railways, roads, ports, airports, irrigation and sanitation etc. Hence, the policy makers have been giving wide attention to creation of adequate infrastructure in the country. It is being increasingly recognized that lack of good quality infrastructure is a bottleneck that must be removed in order to maintain the growth rate shown by the country in the first decade of 21st century. Building infrastructure is a capital intensive process with long gestation period therefore requires long term finance. The government finance to infrastructure is constrained by the FRBM regulations. Hence bank finance to infrastructure projects is going to be very vital in the present days. The IIFCL also provide long term finance for infrastructure projects. The government adopted a liberal foreign direct investment policy under which FDI up to 100 percent is permitted under the automatic route in most sectors. This paper examines the present requirement and status of investment in Indian infrastructure sector. Paper also analyzes recent trends of credit flows to the infrastructure sector and risk involved in bank finance.

Title: Battle Of States And Centres On Gst

Authors: Dr. Girijesh Sharma

Page 10-13

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The main reason why things move slowly in India is that we always make complex rules and then create further procedural complications leaving us at the mercy of the babus. Let there be harmonised GST all across the country with one clearly defined rule of revenue sharing between Centre and States. And this revenue sharing should also include in its ambit a share of the revenue for Excise & Custom duty which currently accrues in totality to the Centre. So ultimately the state that offers the best environment and facilities for industrial productivity and commerce in general, wins over the entrepreneur and accordingly gets a higher volume of the indirect tax revenue.

Title: Role Of Small And Medium Enterprises In India

Authors: Dr. Rajiv Salwan, Vandana Jain

Page 14-33

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Small and Medium Enterprises (SMEs) are critical for developing countries because of their role in economic growth and poverty reduction. SMEs play a very important role in the economy of any country and these are having its importance in a developing country like India. Entrepreneurship is indispensible to accelerate the industrial growth. Small and Medium enterprises are an effective means for the development of entrepreneurship and this sector is a solution to the problems of poverty, insecurity, unemployment, over population of the modern world. The role of small and medium enterprises in the economic and social development of the country is well established. Developing entrepreneurial culture and ethical business environment are also important challenges SME s emerges leaders during the period of stagnation, restoring jobs and business activity lost during the time despite a slow and insubstantial economy. It contributes almost 40% of the gross industrial value added in the Indian economy. It has been estimated that a million Rs. of investment in fixed assets in the small scale sector produces 4.62 million worth of goods or services with an approximate value addition of ten percent. SMEs constitute 6% of GDP, 34% of national exports and account for the employment of more than 30 million people. The small-scale sector has grown rapidly over the years. The growth rates during the various plan periods have been very impressive. The number of small-scale units has increased from an estimated 0.87 million units in the year 1980-81 to over 3 million in the year. When the performance of this sector is viewed against the growth in the manufacturing and the industry sector as a whole, it in stills confidence in the firmness of the small-scale sector. The Indian economy is expected to grow by over 8 % per annum until 2020 and can become the second largest in the world, ahead of the United States by 2050 and the third largest after China and the United States by 2032.

This paper would study the role of SME s in Indian Economy and its contribution to the economic development of the country as a whole. We also highlight some of the important issues that SMEs face and conclude by suggesting suitable cluster interventions for enhancing competitiveness and sustainability of the SME sector. This paper proposes that an incentive based system for encouraging SMEs to adopt good governance practices is more likely to succeed

Title: Role Of Skills Development In Business Education : An Overview

Authors: Dr. Ashok Agarwal, Dr. P.C. Saini

Page 34-37

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There was a high degree of commitment and motivation on the part of the students who made comments like now we know much more about how business work and now we understand what our lecturers meant and a great deal of initiative and originality was shown especially in the final oral presentations. The commercial Manager of Sealink visited the Business School and gave a talk to the HND group on the history and plans for the future of the Portsmouth Harbour to Ryde foot passenger service. The development of appropriate skills for business students has been increasingly emphasized by BTEC and this report describes an attempt to develop appropriate skills through the design of a balanced Cross Modular Assignment programme and individual Cross Modular Assignments (CMA). The difficulties associated with the development and assessment of such skills are explored.

Title: Decoding The Differences Between Power Tariff Regulations And Accounting Norms

Authors: Pooja Gupta

Page 38-43

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Since the turn of the millennium, there have been various attempts by Indian regulators as well as the government to converge the current accounting system in India to a system similar to IFRS, considered today to be the prevalent worldwide set of accounting standards. Indian GAAP has had its fair share of criticism, the most telling being that it avoids the principle of substance over form in various topics in its literature. While suffering various setbacks through delays in recent years, the current roadmap indicates that certain companies will have to mandatorily adopt Indian Accounting Standards next year. When assessing the major differences between Indian Accounting Standards and IFRS to evaluate whether complete convergence can ever be possible, most differences are either avoidable or textual in nature. While it can be concluded that complete convergence can indeed be possible one day, it would benefit Indian entities to have a slow route to convergence in order to maintain a sense of comparability in their financial statements from Indian GAAP to Indian Accounting Standards.

Title: Cost Management : An Overview

Authors: Manoj Jaiswal, Dr. S.S. Modi

Page 44-49

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Cost Management defines as “a set of techniques and methods for controlling and improving a company’s activities and processes, its products and services” to achieve continuous improvement and deal with global competition; with commitment from top management and worker involvement. Offers a model of a “self?perpetuating system of improvement” to continuously improve value added and decrease non?value added activities, using activity?based costing to develop the information needed for activity?based management, just?in?time, total quality management and process improvement. Explains these techniques, referring to research, and discusses the necessary conditions for top management commitment and worker involvement.

Title: The Idea Of Democratic Decentralization

Authors: Dr. Manish Shrivastava

Page 50-57

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Decentralization and democracy may improve the chances for successful economic development. The importance of local government and democracy is evident in the history of many countries, but democratic local government has been less common in Africa than elsewhere. Democratic political competition can improve governance only if voters have a choice among qualified candidates who have good reputations for exercising power responsibly in public service. This essential supply of trusted democratic leadership can develop best in responsible institutions of local government, where successful local leaders can prove their qualifications to become strong competitive candidates for higher office. Thus, a federal constitutional structure that devolves substantial powers to autonomously elected local governments can increase the chances for successful democratic development. Foreign assistance can help to increase this vital supply of leaders with good reputations for spending public funds responsibly if some share of foreign-assistance funding is distributed directly to local governments and other local public service agencies.

Title: Concept Of Working Capital Management : An Overview

Authors: Dr. Simmi Choyal

Page 58-63

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Over the past 60 years major theoretical developments have occurred in the areas of longer?term investment and financial decision making. Many of these new concepts and the related techniques are now being employed successfully in industrial practice. By contrast, far less attention has been paid to the area of short?term finance, in particular that of working capital management. Such neglect might be acceptable were working capital considerations of relatively little importance to the firm, but effective working capital management has a crucial role to play in enhancing the profitability and growth of the firm. Indeed, experience shows that inadequate planning and control of working capital is one of the more common causes of business failure.

Title: Transition To Ifrs By Indian Listed Companies: Effects On Financial Statements

Authors: Dr. Nisha Kalra

Page 64-76

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International Accounting Community is in the process of synchronizing accounting standards across the globe. International Financial Reporting Standards (IFRS) is a single set of accounting standards, developed and maintained by the IASB. Indian Government has been recently issued new Indian Accounting Standards (Ind. AS) which are converged with IFRS. In phased manner, the companies registered in India will be required to present their annual accounts according to new norms with effect from April, 2016. Convergence to IFRS has triggered a debate as well as led to the following research opportunities. First, whether switch to IFRS will yield benefit in terms of accounting quality and information comparability. Second, what will be the immediate effects of IFRS adoption on financial statement because of significant pre-IFRS accounting differences using the reconciliation statement provided in the first IFRS financial statement as required by IFRS. This study intends to focus on the first year of IFRS adoption; it will not only explore these issues independently but also explores the links between these dimensions. For this research eight Indian companies have been selected as the final sample which has recently transitioned to IFRS. The result of this research suggest that the change form Indian GAAP to IFRS is not statistically significant regarding financial ratio however, This is an overall effect based on the central value of medians and means.

Title: Social Profitabitlity In Government Policy : An Overview

Authors: Meenakshi Kumawat

Page 77-80

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The important thing for business and society at large to understand is the limit to voluntary action, which is the point where government needs to intervene. If we are to live within the earth’s capacity and share its resources equitably, economies must be transformed. That cannot be done by business alone”. This research paper sets out to describe the role of Social Profitability in government policy and examine its relevance to a particular sector, the regulated utilities. Current theoretical and political debates and activities conducted at the national and international level, suggest a widespread interest shared by government, industry, civil society and nongovernmental organizations (NGOs) regarding the role of government and business for the natural environment, social development and social inclusion.

Title: Msmes And Industrial Development Of India

Authors: Dr. M. K. Jain

Page 81-88

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The Micro, Small & Medium Enterprises (MSME) sector is a critical component of India’s growth story, making significant contributions to GDP, employment and exports. As per the Ministry of MSME’s Annual Report for 2013-14, MSMEs account for nearly 40% of India’s exports and also contribute significantly to the generation of employment in the country, employing nearly 80-100 million people. The 3.61 crore (MSMEs), contributing 37.5 per cent of the country’s GDP, have a critical role in boosting industrial growth and ensuring the success of the Make in India programme. A number of schemes are being implemented for the establishment of new MSMEs and growth and development of existing ones. In the MSME context, finance encompasses equity capital, loans for fixed asset investment and working capital for meeting cash flow gaps. Several policy, regulatory & institutional initiatives have been taken to promote availability of finance to MSMEs. These include, among others, credit support mechanisms administered by government institutions. Realising the potential of the MSME sector will require significant efforts even in areas other than access to finance, including infrastructure, skill development, technical & managerial capacity building, alignment of goals of industrial research institutions, ease of doing business and simplification of laws, rules & procedures. This paper analyzes important aspects and closely linked issues to enhance the contribution of this sector in the formal economy.

Title: State-Owned Lic V/S Private -Player Bsli Company: Customer Trust And Product Quality Perception

Authors: Dr. Richa Singhal

Page 89-99

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Insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. As there is increase in risk due to imbalances in nature, growth is found in all corners of world in the form of insurance. India’s economic development makes it a most lucrative Insurance market in the world. Before the year 1999, there was monopoly state run LIC transacting life business. In-spite of all these growth numbers, the truth is that the customers have low confidence in the life industry players. Life insurance is typically sold and not bought. The purpose of the study will be to find out the drivers behind customer trust, investment habits, change in attitude of customer’s investment, importance given to type of business organization. This paper is based on the published article, refereed journals, insurance providing agencies reports, company records, internal documentation, Books from libraries, Newspapers, Journals, Companies website, Companies legal documents, Annual reports etc. and the IRDA reports

Title: Role Of Fdi In India?s Hotel And Tourism Industry

Authors: Dr. Renu Jatana, Nidhi Bajaj

Page 100-112

Title: Cost Profit Analysis Of Bajra Cultivation

Authors: Ranish Choudhary

Page 113-115

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Bajra is the most important kharif crop of Rajasthan. it contributes nearly 45 percent of kharif foodgrains and accounts for 60 per cent of area under foodgrains. Bajra has the first showing priority among kharif crops. It is a matter of fact that Bajra has significance role in the agricultural economy of Rajasthan. The present study is conducted on "Cost-Profit Analysis of Bajra Crop". The main objective of the study is to present some fact in respect of costs and profit analysis of Bajra production in Sikar on district of Rajasthan. The study is based on both the primary and secondary data. In order to collect primary information 100 farmers were randomly selected from krishi upaz mandi smiti Sikar and Srimadhopur.