...Service sector is that part of the economy, which produces intangible goods. Intangible goods may include transportation services, telecommunication sector, information sector, professional services, technical services and healthcare. Banking services in an economy are also considered to be intangible, and thus, banks are included in the service sector. The employees of service sector produce services as oppose to goods. Such services may include house cleaning jobs, preparation of taxes, tour guides, nursing, psychotherapy and teaching (McManus, 2009). Importance of service sector, with respect to three writers Service sector plays an important role in the development and growth of an economy. This is the reason many writers have emphasized organizations to develop their service offerings. Organizations can develop their service offerings by producing and distributing their products or services. Organizations can also invest in advertising to market their products and services more effectively. Services play an important role in the economic growth of regional and national economies. Organizations need to have a backward and forward linkage with their products, to decrease their costs, enter in the service sector and to account for the complete role of the service industry (Kay, Pratt & Warner, 2007). Decades ago, agriculture industry used to be the only industry which contributed to the GDP growth of an economy. Now, times have changed. Service sector is equally important like...
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...The newly formed government of the Federation of Malaysia recognize the core role and the importance of agriculture in the nation’s economy. Agriculture has become the foundation of economics growth and are main contributor to Malaysia in mid 60’s . Before 1960s, policy of crop diversification due to narrow based economy. Rubber production face stiff competition from synthetic rubber. The rubber price went down and which was cheaper, had negatively affected the development of Malaysian rubber. The ready supply of this cheaper substitute led to the fall of rubber prices resulting in drastic reductions in incomes of those involved in rubber. Malaysia's foreign exchange and the general economy also suffered. The need to diversify the country's agricultural base was pressing and a crop diversification policy was inevitable to find better economic alternatives to rubber. RISDA in the meanwhile, sought to overcome the deficiencies of rubber smallholdings by organizing clusters to reap the benefits of economies of scale in rubber production. These programs invariably, improved the productivity of these commodities , its share declined to about 65 percent of total agricultural output (Lim, 1973). As a share of total national output, rubber fell from 38 percent to 15 percent. Although the successful diversification strategy consisted of a number of elements, the decision to increase the cultivation of oil palm in the 1960s was a very significant policy change...
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...main sectors which is the services sector, the manufacturing sector, the agriculture sector, and the construction sector. The Malaysia’s labor productivity as measured by real added value per employee in 2014 improved by 3.5% at RM61,708 from RM59,622 in 2013. The growth in productivity was a contributing factor to the higher growth in Gross Domestic Product (GDP) at 6.0%. Trend Productivity in Services Sector Labor productivity within the services sector grew at 2.2% to RM63,897 per employee in 2014, compared with RM62,492 per employee in 2013. Most sub-sectors recorded higher productivity growth, although declines were recorded in accommodation and food and beverage service activities, information and communication (ICT), financial and insurance/takaful activities and real estate and business services. Despite its key role as the largest contributor to GDP in the Malaysian economy, the services sector has much to do before it can become the primary driver of future job creation and productivity growth. At the international level, the productivity of Malaysia’s services sector lags far behind other countries. Apart from that, one of the challenges facing Malaysia’s services sector is that it has failed to successfully diversify into export-oriented sub-sectors such as financial and ICT services. Trend Productivity in Manufacturing Sector As the country progresses towards becoming an advanced economy, a manufacturing sector that focuses on innovative products and technology-based...
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...Paper 99 JOBLESS GROWTH IN INDIAN MANUFACTURING: A KALDORIAN APPROACH Michele Alessandrini* November 2009 Abstract Despite the remarkable economic performance in the last twenty-five years, India maintains a high discrepancy between the rate of growth of the economy and the rate of growth of employment. Labour elasticity to output has decreased over time and the capability of the Indian economy to generate employment seems to be limited. As a result, more than 60 percent of Indian workers are still employed in agriculture and 94 percent of total labour force can be found in the unregistered segment of the economy. This paper analyzes the jobless growth problem in India in terms of a Kaldorian framework where the linkages between agriculture and industry enter the labour demand through the changes in the terms of trade between the two sectors. Moreover, we investigate the role of the unorganized sector in influencing the growth of the registered employment. Using a dynamic panel dataset on registered manufacturing from the 15 major Indian states over the period 1980-2004, our System-GMM estimates show that states with a higher growth of demand for industrial goods originating from agriculture also exhibit a higher growth of employment. In addition, in those states where the weight of the unregistered manufacturing has risen over time, the jobless growth problem has worsened. Keywords: India, jobless growth, manufacturing, intersectoral terms of trade, Kaldor ...
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...NILASHA S. NIRD, HYDERABAD ASSIGNMENT: ‘AGRICULTURE MARKETING REFORMS’ LEARNING POINTS & PERSONAL REFLECTIONS INTRODUCTION As Mahatma Gandhi said, "India lives in villages and agriculture is the soul of Indian economy". Nearly two-thirds of its population depends directly on agriculture for its livelihood. Agriculture is the backbone of the Indian economy. Current agriculture marketing system in the country is the outcome of several years of government. The efforts took place immediately after the independence of the nation. The foundation of markets is the primary means of regulating the behavior of the various parties in the markets and the impacts of their actions. LEARNING POINTS Both the central and state government equally responsible for the matters related with agriculture and agriculture market system. In the initial stages Five Year plans has focuses on the infrastructure development in the specific sector. In 1960’s the focus moved on the institutional building such as Central Warehousing Corporation, Food Corporation of India. The continuous irregularities and dysfunction of the whole system resulted the re-enactment of the legislation (APMC act) with the aim of protecting the interest of the farmers, creating a favorable environment and proper actions in matters of demand and supply. The enactment put forwarded certain amendments in the physical set up of the whole market system. As a result by the end of 50’s regulated market system established in the country...
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...National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India having headquarters based in Mumbai (Maharashtra)[3] and other branches are all over the country. The Committee to Review Arrangements for Institutional Credit for Agriculture and Rural Development (CRAFICARD), set up by the Reserve Bank of India (RBI) under the Chairmanship of Shri B. Sivaraman, conceived and recommended the establishment of the National Bank for Agriculture and Rural Development (NABARD). It was established on 12 July 1982 by a special act by the parliament and its main focus was to uplift rural India by increasing the credit flow for elevation of agriculture & rural non farm sector and completed its 25 years on 12 July 2007.[4] It has been accredited with "matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India". RBI sold its stake in NABARD to the Government of India, which now holds 99% stake.[5] NABARD is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion History NABARD was established on the recommendations of Shivaraman Committee, by an act of Parliament on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981. It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation...
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...REGISTRATION NUMBER;-11008575 COURSE;-MBA(3501) CONTENTS 1.INTRODUCTION 2.PROJECT SHAKTI-ORGANIZATION NAME UNLEVEL PROBLEM AND SOLUTION 3.BENEFITS 4.HUL-PROJECT SHAKTI PRESENTATION TRANSCRIPT 5.SUPPORT SHAKTI. 6.MARKET LINKAGE FOR RURAL PRODUCTS 7.INDUSTRY ROLE IN BUILDING MARKET LINKAGES 8.SCOPE AND OPPORTUNITIES 9.LITERATRURE REVIEW 10.CONCLUSION 11.REFERENCES AND BIBLIOGRAPHY Introduction Rural products of India are unique, innovative and have good utility and values. Large number of these rural products (like handicraft items, food products, embroidery, clothes & other products) sustains a significant segment of the population in the rural areas. Several attributes of rural products can be identified, for which, it has a demand in the market. Out of the lots, ‘ethnic origin’ and ‘indigenous design & appearance’ are two traits of rural products, attracting a premium in the market. But, contrary to this, the non-uniformity of rural products (from one another) and lack of its quality control measures has been creating a negative demand. Besides, the small sized and dispersed production units of these rural products hinder realization of the economies of scale in marketing and result in high transaction costs per unit of output. Niche-based products have no local market. Products in local use are also not marketed horizontally; they often first travel down to market through a long chain of intermediaries...
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...CONTENTS 1.INTRODUCTION 2.PROJECT SHAKTI-ORGANIZATION NAME UNLEVEL PROBLEM AND SOLUTION 3.BENEFITS 4.HUL-PROJECT SHAKTI PRESENTATION TRANSCRIPT 5.SUPPORT SHAKTI. 6.MARKET LINKAGE FOR RURAL PRODUCTS 7.INDUSTRY ROLE IN BUILDING MARKET LINKAGES 8.SCOPE AND OPPORTUNITIES 9.LITERATRURE REVIEW 10.CONCLUSION 11.REFERENCES AND BIBLIOGRAPHY Introduction Rural products of India are unique, innovative and have good utility and values. Large number of these rural products (like handicraft items, food products, embroidery, clothes & other products) sustains a significant segment of the population in the rural areas. Several attributes of rural products can be identified, for which, it has a demand in the market. Out of the lots, ‘ethnic origin’ and ‘indigenous design & appearance’ are two traits of rural products, attracting a premium in the market. But, contrary to this, the non-uniformity of rural products (from one another) and lack of its quality control measures has been creating a negative demand. Besides, the small sized and dispersed production units of these rural products hinder realization of the economies of scale in marketing and result in high transaction costs per unit of output. Niche-based products have no local market. Products in local use are also not marketed horizontally; they often first travel down to market through a long chain of intermediaries and then up to more difficult locations...
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...Wen Cheng (17329381) Origin: Singapore Qualifications: Dip in Engineering, Current: Bach in Commerce International Business Date: 19 September 2014 Words: 2965 (Excluding Executive Summary, In text Citation) Question: Research, Analyse and Debate Exists a linkage between the exploitation of children, as a source of labour, and globalisation in both developing and industrialised countries? Table of Content Executive Summary…………………………………………………………………………...3 1. Introduction…………………………………………………………………………... 5 2. Discussion……………………………………………………………………………. 5 2.1 Definition: What is child labour? ..................................................................... 5 2.2 Definition: What is globalisation? ………………………………………….... 6 2.3 Difference between developing and industrialised countries……………........ 6 2.3.1 Facts and background of India and Germany ………………………………... 7 2.3.2 ILO Convention no. 138 …………………………………………………….. 8 2.3.3 Perception of child labour in society ………………………………………… 8 2.3.4 Laws and how they are executed……………………………………………... 9 2.4.1 School attendance rate ……………………………………………………… 10 2.4.1 School drop-out rate ………..………………………………………………. 10 2.5.1 Structural change and the state of economy………………………………… 11 2.5.2 Digression to historical development in Germany………………………….. 11 2.5.3 Deriving historical insight in present India…………………………………… 12 2.6.1 Value of the individuals workforce…………………………………………… 12 2.6.2 Distribution of income………………………………………………………...
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...Executive Summary In a country like India where 70 percent of its population lives in rural area and 60 percent depend on agriculture (according to the World Bank reports), micro-finance can play a vital role in providing financial services to the poor and low income individuals. Microfinance is the form of a broad range of financial services such as deposits, loans, payment services, money transfers, insurance, savings, micro-credit etc. to the poor and low income individuals. The importance of micro-finance in the developing economies like India cannot be undermined, where a large size of population is living under poverty and large number of people does not have an access to formal banking facilities. The taskforce on Supportive Policy and...
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...domestic animals sufficient to meet the household needs will still find agriculture one of the most satisfying forms of existence.” By Calvin Coolidge As Mahatma Gandhi said, "Real India lives in villages”. Nearly two-thirds of its population depends directly on agriculture for its livelihood. Agriculture is the backbone of the Indian economy earlier it had a major contribution in Indian economy, at the time of independence it was 33.3 percent which is increased to 56.5 percent in 2013. Current agriculture marketing system in the country is the outcome of several years’ planed work of Indian government and fourteen five year plans including few Prime Minister’s special plans for rural people. The efforts took place immediately after the independence of the nation. The foundation of markets is to provide market to agricultural produce and supporting them with minimum support price so that farmers get a healthy margin for their produce. This will encourage them to take agriculture as one of the mean for their livelihood. SUMMURY The central and state government equally responsible for the matters related with agriculture and agriculture market system. In the initial stages Five Year plans has focuses on the infrastructure development in the specific sector. In 1960’s the focus moved on the institutional building such as Central Warehousing Corporation, Food Corporation of India. The National Commission on Agriculture (1976) had recommended that the facility of regulated market should...
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...Noer Soetrisno Presented at : 2004 APEC INFORMATIZATION POLICY FORUM FOR SMALL AND MEDIUM ENTERPRISES July, 15-16, 2004 SMEs in Economic Development 1. There is no Regional or Global Consensus on SME The Coverage of SME definition are Commonly Associated With : - SMI (Manufacturing Industry) - SMI + Services (Selected) - All Sectors Except Agriculture - All Sectors Include Agriculture 2. Variable to Measure SME - No of employee (Industry) - Assets (Fixed Asset, Asset other than lands building) - Sales 3. The Role of SME in Economic Development - Contributor to Value added (Growth) : About 57% of GDP - Provider of Employment : Contribute to 99.5% of total employment - Potential Contributor to Export : Share about 16-21% of total export - Flexibility and Resilience to Shocks : continue to survive during the crisis, micro and small enterprises more resilience, but medium enterprises are not fully recovered from the crisis up to 2003 •SME Cluster Development in Indonesia - Cluster development approach has been adopted since 1970’s * Small industry zone * Export processing zone * Agglomeration of SME activities - At present exist about 9800 units of Small Industry Cluster : * 78% Low technology group * Productivity / worker : • Low technology IDR 970 Thousand (100) • Medium technology IDR 2 Million (212) • High technology IDR 8.24 Million (849) Government Policies on Informatization Providing free access on public information through E-Government;...
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...Bangladesh efficiently should have this type of barriers. Bangladesh is primarily an agrarian economy. Agriculture is the single largest producing sector of economy since it comprises about 30% of the country's GDP and employing around 60% of the total labour force. The performance of this sector has an overwhelming impact on major macroeconomic objectives like employment generation, poverty alleviation, human resources development and food security. Where there is plenty of chances for producing an agricultural food remarkably in Bangladesh, importing the same food product from a neighbor country for meeting up domestic need would discourage our farmers to produce that product. Ultimately it could result in destroying our agriculture sector. At the same time, considering the importance of the private sector, an all-out support is being provided to initiatives taken in this sector. As a result, a new kind of dynamism is under way in both public and private sectors. In this backdrop, it is essential to examine various aspects of industrialization and its impacts on overall economic activities. Given the present environment of global competition, the private sector is playing an important role in the industrialization of the country. Therefore, the Government in the Ministry of Industries has taken the role of a facilitator. Faced with the challenges of the free market economy and globalization, the government has accepted private ownership and management of industrial...
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...Abstract-The People of rural India are mainly depending upon agriculture and small business units like fishing, earning through domestic animals, small business units etc. They are not making the agriculture and business profitable because due to the lack of monetary resources. Only few people of rural India are using capital intensive method to cultivate their lands. The most of the rural people are not sustaining in their small business for a long period of time due to insufficient fund available with them. Microfinance in one of the important tool which plays a significant role in poverty elimination and economic development of rural poor. The need therefore, is to share experiences and materials, which will help not only in understanding...
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...Industrial sector can be define as a category of stocks that relate to producing goods used in construction and manufacturing. This sector includes companies involved with aerospace and defense, industrial machinery, tools, lumber production, construction, cement and metal fabrication. Performance in the industrial goods sector is largely driven by supply and demand for building construction residential, commercial and industrial as well as the demand for manufactured products. When the economy contracts and consumers save more and spend less, activity in this sector drops because companies will postpone expansion and produce fewer goods. The industrial sectors are drawn for each contain a mixture of international corporations, national companies, entrepreneurial smaller and medium-size enterprises (SMEs) and informal local businesses. Each part of a sector may have different impacts and dependence on economics activity. In many of the examples, the process of changing performance in industry sectors has followed a common sequence, though the detail varies considerably between sectors. For example, a realization by the leaders of major companies that their long-term business interests, survival as well as profitability, depend on understanding and addressing a wide range of the expectations of key audiences. In malaysia, there is a...
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