Monday, September 30, 2019
LAW OF VARIABLE PROPORTIONS : THEORY OF PRODCUTION 2
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LAW OF VARIABLE PROPORTIONS
DETAILED LECTURE
WWW.GARGSHASHI.COM
DETAILED LECTURE
WWW.GARGSHASHI.COM
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SHORT RUN PRODUCTION FUNCTION
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RETURNS TO FACTOR
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MICRO ECONOMICS
Sunday, September 29, 2019
Thursday, September 26, 2019
NATURE AND SCOPE OF MANAGEMENT
- VIDEO DEFINITION AND CONCEPT OF MANAGEMENT
- NATURE AND SCOPE OF MANAGEMENT
PRINCIPLES OF MANAGEMENT
Wednesday, September 25, 2019
Tuesday, September 24, 2019
Monday, September 23, 2019
ANALYSIS OF THE HINDU AND ECONOMIC TIMES DATED 23RD,SEPTEMBER ,2019
- NEWS
PAPER ANALYSIS
THE HINDU AND ECONOMIC TIMES DATED 23 RD,2019 - DR SHASHI AGGARWAL
- HOWDY MODI WOULD ELEVATE INDIA –US TIES : INDIAN -AMERICANS ET(1)
PM GETS RAPTUROUS RECEPTION AT HOWDY MODI EVENT IN THE US ( THE HINDU ) (1)
- INDIAN –AMERICAN ARE ENTHUSIASTIC ABOUT PM MODI AND US PRESIDENT DONALD
TRUMP JOINTLY ADDRESSING A MEGA HOWDY RALLY EVENT THEY BELIEVE WOULD TAKE
THE BILATERAL TIES TO NEW LEVEL..
- MR MODI SAID THE TIME HAS COME FOR A DEFINITIVE,ALL OUT FIGHT AGAINST TERRORISM AND ASSURED THE AUDIENCE OF 50,000 INDIAN –AMEICAN GATHERED AT HOUSTON TEXAS THAT US PRESIDENT WOULD COMPLETELY BACK HIS STRUGGLE.
VALUE ADDED METHOD ( PRODUCT METHOD MATHODS OF CALCULATING NATIONAL INCOME
(PRODUCT METHOD)
METHODS OF CALCULATING NATIONAL INCOME 1
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INTRODUCTORY MACRO ECONOMICS
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SHASHI AGGARWAL ECONOMICS AND LAW CLASSES
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METHODS
1. VALUE ADDED
METHOD ( OR PRODUCT METHOD)
2. INCOME METHOD
3. EXPENDITURE
METHOD
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PRODUCT
METHOD/VALUE ADDED METHOD
Sunday, September 22, 2019
RURAL CREDIT AND SOURCES OF RURAL CREDIT
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INDIAN ECONOMIC DEVELOPMENT
•
RURAL CREDIT : RURAL DEVELOPMENT PART 2
(HINDI MEDIUM)
(HINDI MEDIUM)
•
MOST OF THE POPULATION OF THE RURAL AREA IS
POOR AND NEEDS FINANCIAL ASSISTANCE IN THE FORM OF CREDIT. MONEY IS BORROWED TO
BUY FERTILIZERS,SEEDS AND OTHER IMPLEMENTS AND ALSO MEETING FAMILY EXPENSES
•
RURAL CREDIT IS NEEDED FOR THE FOLLOWING
REASONS :
I.
LONG GESTATION PERIOD: BETWEEN THE SOWING OF
CROPS AND HARVESTING OF THE CROPS.
II.
FARMERS NEED MONEY TO BUY SEES,FERTILIZERS AND
TOOLS ETC
III.
PERSONAL EXPENSES:- LIKE
MARRIAGE,DEATH,RELIGIOUS CEREMONIES AND TO REPAY OLD DEBT
•
TYPES OF RURAL CREDIT
I.
SHORT TERM: FOR THE PURCHASE OF INPUTS LIKE
SEEDS, PESTICIDES AND INSECTICIDES AND PAYMENT OF ELECTRICITY BILLS. FOR A
PERIOD OF 6 MONTHS TO 12 MONTHS
II.
MEDIUM TERM LOANS IS REQUIRED FOR THE PURCHASE
OF MACHINERY,CONSTRUCTION OF FENCES AND DIGGING OF THE WELLS AND REQUIRED FOR A PERIOD OF 12 MONTHS TO 5 YEARS
III.
LONG TERM CREDIT: - FOR THE PURCHASE OF
ADDITIONAL LAND, FOR CARRYING OUT PERMANENT IMPROVEMENT ON THE EXISTING LAND.
RANGE IS 5 TO 20 YEARS
•
SOURCES OF RURAL CREDIT
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AT THE TIME OF INDEPENDENCE INSTITUTION CREDIT
SHOWED ONLY NOTIONAL EXISTENCE
•
NON INSTITUTIONAL CREDIT RULED THE ROOST AND IT
WAS DOMINATED BY THE MONEY LENDERS, TRADERS AND COMMISSION AGENTS. THEY
CHARGED A VERY HIGHER INTEREST RATES AND MANIPULATED THE ACCOUNTS TO EXPLOIT
THE FARMERS
•
NON INSTITUTIONAL CREDIT LEADS TO DEBT TRAP FOR
THE FARMERS
•
A SIGNIFICANT CHANGE OCCURRED IN 1969 WITH
NATIONALIZATION OF COMMERCIAL BANKS
•
THE CONCEPT OF SOCIAL BANKING WAS PUT INTO
PRACTICE AND CREDIT NEEDS OF THE FARMERS WAS ADDRESSED AS A PRIORITY ISSUE IN
THE CONTEXT OF RURAL DEVELOPMENT
•
SOURCES OF RURAL CREDIT
I.
INSTITUTIONAL
II.
NON INSTITUTIONAL
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NON INSTITUTIONAL SOURCES ARE THE
CONVENTIONAL/TRADITIONAL SOURCES :
I.
LAND LORDS
II.
VILLAGE TRADERS
III.
MONEY LENDERS
IV.
MOST CREDIT NEEDS ARE MET THROUGH THESE SOURCES
•
95% OF THE BORROWING OF THE FARMERS IN THE
BEGINNING OF THE FIRST FIVE YEARS PLAN
BUT BY THE
1981.THE INSTITUTIONAL SOURCES EMERGED AS THE PRINCIPAL CHANNEL OF THE RURAL
CREDIT
•
INSTITUTIONAL SOURCES:
I.
GOVERNMENT
II.
COOPERATIVES
III.
COMMERCIAL BANKS
IV.
REGIONAL RURAL BANKS
TOGETHER THEY
ACCOUNTED FOR ONLY SEVEN PERCENT OF THE CREDIT NEEDS OF THE FARMERS IN THE
BEGINNING OF THE FIRST FIVE YEAR PLANS, BUT PRESENTLY THEIR SHARE HAS INCREASED
TO 66% PERCENT
•
INSTITUTIONAL SOURCES:
•
OUT OF TOTAL INSTITUTIONAL CREIDTS COOPERATIVES
CREIDT CONTRIBUTES NEARLY 15% AND COMMERCIAL BANKS ABOUT 75%
•
APART FROM THE SUBSTANTIAL EXPANSION IN THE
FLOW OF CREDIT BY COMMERCIAL BANKS AND REGIONAL RURAL BANKS ARE THE COOPERATVES
CREDIT INSTITUTION HAVE EMERGED AS IMPORTANT INSIUTIONAL AGENCIES OFFERING
CREIDT SUPPORT AND RELATED SERVICES
•
MULTI AGENCY SYSTEM
•
INSTITUTIONAL STRUCTURE RURAL BANKING CONSISTS OF RURAL BANKING
CONSISTS OF :
I.
COMMERCIAL BANKS
II.
COOPERATIVE CREDIT SOCIEITES
III.
LAND DEVELOPMENT BANK
THE
INSTITUTIONAL STRUCTURE OF RURAL BANKING IS CALLED MULTI AGENCY SYSTEM
•
IMPORTANT INSTITUTIONAL AGENCIES
•
CO-OPERATIVE CREDIT SOCIETIES :
•
THE COOPERATIVE CREDIT INSTITUTION IN INDIA CAN
BE CLASSIFIED AS UNDER A THREE TIER STRUCTURE:
I.
PRIMARY CREDIT SOCIETIES AT THE BOTTOM ARE
FUNCTIONING IN THE VARIOUS TOWNS AND VILLAGES
II.
CENTRAL COOPERATIVE AT THE BANK: AT THE
DISTRICT HEAD QUARTER
III.
STATE COOPERATIVE BANK AT THE TOP:-STATE
COOPERATIVES BANKS AT THE STATE CAPITALS FORMING THE APEX OF THE SYSTEM
THE RESERVE
BANK OF INDIA ASS ITS THE COOPERATIVE STRUCTURE BY PROVIDING CONCESSIONAL
FINANCE THROUGH NABARD. THE WHOLE SYSTEM IS INTEGRATED WITH BANKING STRUCTURE
OF THE COUNTRY.
•
A CREDIT UNION IS MEMBER OWNED FINANCIAL
COOPERATIVES DEMOCRATICALLY CONTROLLED BY ITS MEMBERS AND OPERATED FOR THE
PURPOSE OF PROMOTING THRIFT,ARRANGING CREDIT AT THE COMPETITIVE RATES AND
PROVIDING SO MANY OTHER FINANCIAL SERVICES TO ITS MEMBERS.
•
THE COOPERATIVES CREDIT SOCIETIES PROVIDE
ADEQUATE CREDIT TO FARMERS AT REASONABLE RATE OF INTEREST
•
ALSO PROVIDE GUIDANCE TO DIVERSE AGRICULTURAL
OPERATIONS WITH A VIEW TO RAISING THE CROP PRODUCTIVITY
•
CURRENTLY COOPERATIVES ACCOUNT FOR 16 TO 17
PERCENT OF RURAL CREDIT FLOWS
•
THESE SOCIETIES ARE TO ENSURE :
I.
TIMELY AND RAPID FLOW OF CREDIT TO THE FARMERS
II.
ELIMINATION OF THE MONEY LENDERS AS CREDIT
AGENCIES
III.
SPREAD CREDIT FACILITIES ACROSS ALL REGIONS OF
THE COUNTRY
IV.
PROVISION OF ADEQUATE CREDIT IN AREAS COVERED BY
SPECIAL PROGRAMMES DEVELOPMENT
•
STATE BANKS AND OTHER COMMERICALS BANKS
I.
THE STATE BANK OF INDIA WAS SET IN 1955 WITH A
FOCUS ON RURAL CREDIT
II.
THE GOVT REALIZED THAT RURAL CREDIT NEEDS COULD
NOT BE MET BY THE COOPERATIVE CREDIT SOCIETIES ALONE AND THAT COMMERCIAL BANKS
SHOULD PLAY AN IMPORTANT ROLE
III.
THE PROMPTED NATIONALIZATION OF CERTAIN BANKS
IN 1969
IV.
THROUGH THEIR BRANCH EXPANSION WERE DIRECTED TO
OFFER CREDIT DIRECTLY TO THE FARMERS AS WELL AS INDIRECTLY THROUGH COOPERATIVES
SOCIETIES
•
REGIONAL RURAL BANKS ( RRBS) AND LAND
DEVELOPMENT BANKS
I.
REGIONAL RURAL BANKS (RRBS) ARE INDIAN
SCHEDULED COMMERCIAL BANKS OPERATING AT REGIONAL LEVEL IN DIFFERENT STATES OF
INDIA
II.
THEY HAVE BEEN OPERATING AT THE REGIONAL LEVEL
IN DIFFERENT STATES OF INDIA
III.
FOUNDED ON 2ND OCTOBER ,1975 UNDER
THE PROVISIONS OF ORDINANCE PASSED ON 26
TH SEPTEMBER,1975
IV.
HAVE BEEN CREATED WITH A VIEW TO SERVE
PRIMARILY TH RURAL AREAS OF INDIA WITH BASIC BANKING AND FINANCIAL SERVICES
V.
MAY HAVE BRANCHES SET UP FOR URBAN OPERATIONS
AND THEIR OPERATION MAY INCLUDE URBAN AREAS TOO
VI.
REGIONAL RURAL BANKS ( RRBS) AND LAND
DEVELOPMENT BANKS
VII.
AREA ARE NOTIFIED BY THE GOVT OF INDIA
•
RRBS PERFORM VARIOUS FUNCTIONS IN FOLLOWING
HEADS :
I.
PROVIDING BANKING FACILITIES TO RURAL AND SEMI
URBAN AREAS
II.
CARRYING OUT GOVT OPERATIONS LIKE DISBURSEMENT
WAGES OF MGNREGA,WORKERS AND DISTRIBUTION OF PENSIONS
III.
PROVIDING PARA BANKING FACILITIES LIKE LOCKER
FACILITIES,DEBIT AND CREDIT CARDS ,MOBILE BANKING ,INTERNET BANKING ETC
•
REGIONAL RURAL BANKS ( RRBS) AND LAND
DEVELOPMENT BANKS
I.
WERE SET UP TO PROMOTE CREDIT
SUPPLIES,PARTICULARLY IN THE REMOTE RURAL AREAS AND BACKWARD
II.
OPERATE AT THE DISTRICT LEVEL AND ARE UNDER
OBLIGATION TO FOCUS ON CREDIT NEEDS OF THE WEAKER SECTION OF THE RURAL
POPULATION
•
NATIONAL BANK FOR AGRICULTURAL AND RURAL
DEVELOPMENT
I.
NATIONAL BANK FOR AGRICULTURE IS A DEVELOPMENT
BANK FOCUSING PRIMARILY ON THE RURAL SECTOR OF THE COUNTRY.
II.
INDIA’S APEX DEVELOPMENT BANK. ONE OF THE
IMPORTANT INSTITUTION IN THE COUNTRY
III.
NABARD IS RESPONSIBLE FOR THE DEVELOPMENT OF
THE SMALL INDUSTRIES, COTTAGE INDUSTRIES AND ANY OTHER SUCH VILLAGE OR RURAL
PROJECTS.
IV.
ESTABLISHED ON 12 TH JULY,1982 AND IT HAD
INITIAL CAPITAL OF 100 CRORES
V.
THE BANK IS UNDER THE SUPERVISION OF A BOARD OF
DIRECTORS WHICH THE GOVT WILL APPOINT
VI.
HEADQUARTER OF THE NABARD IS IN MUMBAI
VII.
MAIN FUNCTIONS OF NATIONAL BANK FOR
AGRICULTURAL AND RURAL DEVELOPMENT
VIII.
TO SERVE AS APEX FUNDING AGENCY FOR THE
INSTITUTIONS PROVIDING CREDIT IN RURAL AREAS
IX.
TO TAKE APPROPRIATE MEASURES TO IMPROVE THE
CREDIT DELIVERY SYSTEM
X.
THE BANK WAS TO FOCUS ON RESTRUCTURING OF
CREDIT INSTITUTIONS AND TRAINING PERSONNEL
XI.
TO COORDINATE THE RURAL FINANCING ACTIVITIES OF
ALL CREDIT INSTITUTIONS AND MAINTAIN LIA SON WITH GOVERNMENT OF INDIA,STATE
GOVERNMENT,RESERVE BANK OF INDIA AND OTHER NATIONAL LEVEL INSTITUTIONS
CONCERNED WITH POLICY FORMULATIONS
XII.
TO UNDER TAKE MONITORING AND EVALUATION OF
PROJECTS REFINANCED BY IT
•
ROLE OF RBI IN RURAL CREDIT
•
SINCE 1935,THE RBI HAS BEEN PLAYING AN
IMPORTANT ROLE IN PROVIDING CREDIT TO AGRICULTURE AND STRENGTHEN CREDIT
INSTITUTION,PRIMARY COOPERATIVES CREDIT SOCIETIES AND DEVELOPMENT BANK IN
PARTICULAR
- FOCUSES ON :
SHORT TERM FINANCE FACILITIES TO AGRICULTURE AND ALLIED ACTIVITIES
- DEVELOPMENT OF
COOPERATIVE CREDIT INSTITUTIONS
- EXPANSION OF
SOURCES OF FUNDS FOR SHORT TERM AND
LONG TERM WINGS OF THE COOPERATIVES CREDIT SUSTAINING AND PROFESSIONALISM
OF COOPERATIVES
- CONDUCTING
RURAL CREDIT SURVEYS TO DETERMINE THE COVERAGE OF RURAL HOUSEHOLDS BY
CREDIT INSTITUTIONS
- HELPING BANK
BRANCH EXPANSION PROGRAMME TO PROVIDE CHEAPER REMITTANCE FACILITIES FOR
BANKS OPERATING IN RURAL AREAS
- GUIDANCE TO ALL
CONCERNED ON MATTERS RELATING TO RURAL CREDIT
·
MULTIDIMENSION
•
EVALUATION
I.
NATIONALISATION OF COMMERCIAL BANKS MARKED THE
BEGINNING OF SOCIAL BANKING IN RURAL SECTOR
II.
ESTABLSIHMENT OF NABARD AS AN APEX BODY
COORDINATING ACTIVITIES OF ALL FINANCIAL INSTITUTIONS ENGAGED IN RURAL CREDIT
PROGRAMMES HAS MADE A SUBSTANTIAL DIFFERENCE IN THE INSTITUTION OF RURAL
CREDIT.
III.
INSTITUTIONAL CREDIT HAS GONE A LONG WAY IN
LIBERATING THE FARMERS FROM THE DEBT TRAP OF MAHAJANS AND MONEY LENDERS
IV.
ALSO PROMTED THE COMMERCIALIZATION OF
AGRICULTURE
V.
EVALUATION
VI.
SELF HELP GROUPS AND MICRO CREDIT PROGRAMMES
ARE AN EMERGING PHENOMENON IN THE CONTEXT OF RURAL CREDIT AND PROMOTE THRIFT
AMONG RURAL HOUSEHOLD
VII.
CREDIT IS OFFERED WITHOUT ANY SECURITY AND A
MODERATE RATE OF INTEREST.
VIII.
BANKS MAY ISSUE THE KISAN CREDIT CARDS TO THE
FARMERS WHICH AIMS AT ADEQUATE AND TIMELY SUPPORT TO THE FARMERS FOR THEIR SHORT TERMS CREDIT NEEDS
I.
TIED TO COLLATERAL ( SECURITY OR GUARANTEE OF
PROPERTY FOR THE LOANS
II.
LACK OF STRICTNESS IN RECOVERY OF LOANS
III.
FAILED TO DEVELOP A CULTURE OF THRIFT
IV.
SUBDUE AFFAIR OF MOBILIZATION OF DEPOSITS
V.
IMPACT OF DEBT IS HUGE ,SUICIDAL TENDENCIES
VI.
CONSIDER AS SOCIAL BANKING RATHER THAN A
ACTIVITY TO ACHIEVE POLITICAL POPULARITY
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