...Building a New India The Role of Organized Retail in Driving Inclusive Growth Building a New India: The Role of Organized Retail in Driving Inclusive Growth A The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients in all sectors and regions to identify their highest–value opportunities, address their most critical challenges, and transform their businesses. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 71 offices in 41 countries. For more information, please visit www.bcg.com. The Confederation of Indian Industry (CII) works to create and sustain an environment conducive to the growth of industry in India, partnering industry and Government alike through advisory and consultative processes. CII is a non–government, not–for–profit, industry led and industry managed organisation, playing a proactive role in India’s development process. Founded over 115 years ago, it is India’s premier business association, with a direct membership of over 8100 organisations from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 90,000 companies from around...
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...COUNTRY,THE NEED FOR GOVERNMENT REGULATED BANKING SYSTEM WAS FELT.SO IN 1969,INDIAN GOVERNMENTR TOOK THE HISTORIC DECISION TO NATIONALISE 14 BIGGEST PRIVATE COMMERCIAL BANKS.THE NEW GENERATION PRIVATE BANKS HAVE NOW ESTABLISHED THEMSELVES IN THE SYSTEM AND HAVE SET NEW STANDARDS OF SERVICES AND EFFICIECY. WHILE IT IS QUITE EVIDENT THAT INCLUSIVE GROWTH IS IMPERATIVE FOR ACHIEVING THE EQUITY OBJECTIVE,WHAT IS PERHAPS,NOT SO OBVIOUS IS WHY INCLUSIVE GROWTH IS NOW CONSIDERED ESSENTIAL EVEN TO SUSTAIN THE GROWTH MOMENTUM. IN MANY OF THE EMERGING MARKET ECONOMICS,THE MAJOR OF THE CHUNK POPULATION IS IN RURAL AREAS.SIGNIFICANT INCREASE IN DEMAND FOR MANUFACTURING AND SERVICESSECTORS HAS TO COME FROM RURAL POPULATION.THE AVERAGE MONTHLY PER CAPITA CONSUMPTION EXPENDITURE IN URBAN AREAS OF COUNTRY IS ALMOST DOUBLE THAN OF ITS RURAL AREAS.THE GROWTH IN AGRICULTURE IS NECESSARY TO KEEP MANUFACTURING PRICES UNDER CHECK,PROVIDE FOOD SECURITY AND KEEP INFLATION UNDER CONTROL. LIMITATIONS ON INCREASING PRODUCTION AND PRODUCTIVITY IN AGRICULTURE ARE DRIVING MIGRATION TO URBAN AREAS,LEADING TO POPULATION PRESSURE IN THESE AREAS AND EXERTING FURTHER STRESS ON EXISTING ON INFRASTRUCTURE. BANKING SYSTEM AND FINANCIAL INSTITUTION PLAY VERY SIGNIFICANT ROLE IN ECONOMY.FIRST AND FOREMOST IS IN THE FORM OF CATERING TO THE NEEDS OF CREDIT FOR ALL THE SECTIONS OF SOCIETY.AN EFFICIENT BANKING...
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...ROLE OF BANK IN INDIAN ECONOMIC GROWTH TOWARDS THE BEGINNING OF TWENTIETH CENTURY,WITH THE ONSET OF MODERN INDUSTRY IN THE COUNTRY,THE NEED FOR GOVERNMENT REGULATED BANKING SYSTEM WAS FELT.SO IN 1969,INDIAN GOVERNMENTR TOOK THE HISTORIC DECISION TO NATIONALISE 14 BIGGEST PRIVATE COMMERCIAL BANKS.THE NEW GENERATION PRIVATE BANKS HAVE NOW ESTABLISHED THEMSELVES IN THE SYSTEM AND HAVE SET NEW STANDARDS OF SERVICES AND EFFICIECY. WHILE IT IS QUITE EVIDENT THAT INCLUSIVE GROWTH IS IMPERATIVE FOR ACHIEVING THE EQUITY OBJECTIVE,WHAT IS PERHAPS,NOT SO OBVIOUS IS WHY INCLUSIVE GROWTH IS NOW CONSIDERED ESSENTIAL EVEN TO SUSTAIN THE GROWTH MOMENTUM. IN MANY OF THE EMERGING MARKET ECONOMICS,THE MAJOR OF THE CHUNK POPULATION IS IN RURAL AREAS.SIGNIFICANT INCREASE IN DEMAND FOR MANUFACTURING AND SERVICESSECTORS HAS TO COME FROM RURAL POPULATION.THE AVERAGE MONTHLY PER CAPITA CONSUMPTION EXPENDITURE IN URBAN AREAS OF COUNTRY IS ALMOST DOUBLE THAN OF ITS RURAL AREAS.THE GROWTH IN AGRICULTURE IS NECESSARY TO KEEP MANUFACTURING PRICES UNDER CHECK,PROVIDE FOOD SECURITY AND KEEP INFLATION UNDER CONTROL. LIMITATIONS ON INCREASING PRODUCTION AND PRODUCTIVITY IN AGRICULTURE ARE DRIVING MIGRATION TO URBAN AREAS,LEADING TO POPULATION PRESSURE IN THESE AREAS AND EXERTING FURTHER STRESS ON EXISTING ON INFRASTRUCTURE. BANKING SYSTEM AND FINANCIAL INSTITUTION...
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...tremendous growth in volume and complexity during the last few decades. Despite amplified thrust by the government on increase of branch network across the country since 1969, still the fruits of the banking not reached to the common man which is evident from the below: Ø Half of the residents are out of the banking system and unable to prove their identity on account of poor financial back ground and belong to Below Poverty Line (BPL) segment. Ø 60% of farmers do not have access to credit from Banks. Ø Poor pay usurious interest at 40% to 50% to Money Lenders. Even Micro Finance Institutions charge 20-30% interest. Ø More than 40% of the government’s subsidy and social spending is being siphoned off, mostly by “ghosts” and undeserving recipients. Ø In spite of best efforts, the various welfare/employment generated programs aimed at poor households with huge budget allocations (NREGS, JSY and PDS) are going into unscrupulous hands and leading to widespread leakage of public money. http://www.allbankingsolutions.com/Articles/Articles-NSNR-Financial-Inculsion-Role-of-IT.shtml Financial Inclusion: How India can achieve it? “Inclusive growth” was one of the important objectives of eleventh five year plan in India. Inclusion of each and every section of the society in the process of economic development and achieving growth with equity is the basic objective of “inclusive growth”. Financial...
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...The Monetary & Fiscal Policies in Support of Economic Transformation and Inclusive Growth in Nigeria Abubakar M. G 1. Department of Economics, Umaru Musa Yar’adua University, Katsina 2. Central Bank of Nigeria, Katsina. Phone: 08032838408 and 08023563415 Central BanEmail: gazayks@yahoo.com and magarzali@cenbank.org 1.1 Abstract There is a plethora of literature on Monetary/Fiscal Policies - economic development nexus. This has prompted renewed interest in inclusive Growth. This probably explains why governments and policy makers are now tinkering with ways to situate and develop a permanent solution to the widened gap in broad range of financial services which of course are necessary for inclusive growth. Financial inclusion otherwise known as “inclusive growth” can be seen as the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society. Due to incessant desire to incorporate disadvantaged segment of the society into financial net, both monetary and fiscal authorities have embarked upon a robust strategy toward addressing the gap. The former (monetary authority) had set out a visible road map necessary for direct effect on savings, investment, rate of interest, pension and general form of financial services. While the later (fiscal authority) have been making a remarkable effort toward achieving sustained economic growth especially in rural areas, this would translate accelerated and friendly society necessary...
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...ntroduction Financial inclusion is the delivery of financial services at affordable costs to sections of disadvantaged and low income segments of society. Unrestrained access to public goods and services is the sine qua non of an open and efficient society. It is argued that as banking services are in the nature of public good, it is essential that availability of banking and payment services to the entire population without discrimination is the prime objective of public policy. The term "financial inclusion" has gained importance since the early 2000s, and is a result of findings about financial exclusion and its direct correlation to poverty. Financial inclusion is now a common objective for many central banks among the developing nations. Financial Inclusion Includes Accessing Of Financial Products And Services Like, Savings Credit Insurance Remittance facilities etc Savings facility Credit and debit cards access Electronic fund transfer All kinds of commercial loans Overdraft facility Cheque facility Payment and remittance services Low cost financial services Insurance (Medical insurance) Financial advice Pension for old age and investment schemes Access to financial markets Micro credit during emergency Entrepreneurial credit The Reserve Bank of India has set up a commission (Khan Commission) in 2004 to look into financial inclusion. In India, Financial Inclusion first featured in 2005. India, being a mostly agrarian economy, hardly has schemes...
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...2015 to Build More “Inclusive Economies”inShare The Philippines is intent on building on the significant breakthroughs in trade and economic sustainability achieved by APEC member economies this year in China and ensuring that the benefits are widely felt, said President Benigno Aquino III on the eve of the archipelago’s commencement as APEC 2015 Chair. Establishing a more inclusive economic environment across the Asia-Pacific will be the focus of collaboration in APEC over the coming year, revealed President Aquino in a kick-off speech in Manila on Monday evening. It set the tone for the APEC Informal Senior Officials’ Meeting on 8-9 December in Legazpi City, Albay that will mark the first assembly of member economies as part of APEC Philippines 2015 and decide their agenda priorities. “One week from now, we’ll be demonstrating a thousand per cent effort – the first visitors for APEC 2015 will set foot in our country, and the Philippines will have the distinct privilege of hosting the next chapter in one of the largest joint efforts to improve trade and cooperation amongst major economies,” said President Aquino. “Here, within our communities, leaders from government and the private sector will map out the future of the Asia-Pacific.” “This gathering’s significance is magnified when one considers that, in a world where many economies are reeling from uncertainty, Asia-Pacific economies have, for the large part, sustained a relatively good level of growth,” he explained....
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...Connecting to Work: How ICTs Are Expanding Job Opportunities Worldwide September 10, 2013 * * ------------------------------------------------- Top of Form Bottom of Form * * * Information and communication technologies are creating new job opportunities for workers and employers around the world. STORY HIGHLIGHTS * Information and communication technologies (ICTs) are transforming the world of work, creating new job opportunities and making labor markets more innovative, inclusive, and global. * Three trends are driving this shift: greater connectivity, the ability to telecommute and outsource work, and globalization of skills. * A new paper looks at ways policymakers can maximize the positive impact of ICTs on employment. RELATED WORLD BANK * Policy Note: Connecting to Work: How Information and Communication Technologies Could Help Expand Employment Opportunities * Website: World Bank ICT * Website: Jobs Knowledge Platform MULTIMEDIA Video Connecting to Work: ICTs & Jobs When Gopal Maharjan, a young engineering graduate in Nepal, started looking for a job in Kathmandu he did not get a great response. Then he heard about online jobs with CloudFactory, a “microwork” platform. He and some friends formed a group and applied online. They were accepted and given part-time jobs doing work such as digitizing old, hand-written data, tracking supermarket receipts, or even medical transcription. The group meets regularly with CloudFactory staff...
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...VODAFONE INDIA FULL YEAR FY15 RESULTS Vodafone India is over INR 42,000 crores company by revenues; second largest MNC in India Strong Service Revenue growth and further improvement in EBITDA margin % Robust growth in Data, contributing 15% of service revenues (Q4 FY15) Higher capex focusing towards network expansion and future growth areas o Amongst the largest global networks with 130,000+ sites Fresh equity infusion of INR 6000 crores, reaffirming commitment to the country India significant contributor to Vodafone Group o Highest contributor to Group Service Revenue growth o Largest data traffic market by volume o 3rd largest contributor to Group Service Revenues Key FY15 KPI’s SERVICE REVENUE AT INR 42,352 crores, UP BY 12.6 % DATA (BROWSING) REVENUE AT INR 5,690 crores, UP BY 65.5 % HEALTHY EBITDA MARGIN AT 29.6% Vodafone India, one of the leading total telecommunications service providers in the country announced its Full Year results (IFRS) for the period ended March 31, 2015 Key Financial Highlights: Vodafone India Standalone figures Strong Financial Performance Consistent and strong revenue growth; service revenue of INR 42,352 crores in FY15 vs. INR 37,606 crores in FY14, a growth of 12.6% Revenue performance driven by strong customer additions and robust growth in data revenues EBITDA at INR 12,605 crores in FY15 vs. INR 10,847 crores in FY14; Healthy EBITDA margin at 29.6%, led by higher data revenue and scale benefits...
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...Speech Financial Inclusion and Banks: Issues and Perspectives Financial Inclusion and Banks: Issues and Perspectives* K. C. Chakrabarty Ms Naina Lal Kidwai, Vice President, Federation of Indian Chambers of Commerce and Industry (FICCI) and Country Head HSBC India & Director, HSBC Asia Pacific, Ms Meera Sanyal, Chairperson, FICCI’s Financial Inclusion Committee & Country Executive India, The Royal Bank of Scotland N.V., Ms Caitlin Wiesen, Country Director, UNDP, Mr Mathew Titus, Co-chair, FICCI’s Financial Inclusion Committee & Executive Director, Sa-Dhan, Ms Jyoti Vij, Assistant Secretary General, FICCI, members of the print and electronic media, ladies and gentlemen. It is indeed a pleasure to be present here today to address this gathering on the bankers’ role in promoting financial inclusion, their achievements, and the key issues and challenges being faced by them. Role of FICCI and UNDP 2. As you are all aware, financial inclusion is a mammoth task and it cannot be achieved without the active collaboration of all stakeholders. It is in this context that this particular seminar organised by FICCI, which is an apex industry association and brings a large number of stakeholders under its fold, and United Nations Development Programme (UNDP), which is at the centre of the UN’s efforts to reduce global poverty, assumes significance. FICCI has been playing a leading role in policy debates touching social, economic and political issues and I believe that corporates have a great...
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...authors have argued - economic policies, geography, culture, or value systems – but rather institutions, more precisely the political institutions that determine economic institutions. Acemoglu and Robinson theorize that political institutions can be divided into two kinds - “extractive” institutions in which a “small” group of individuals do their best to exploit - in the sense of Marx - the rest of the population, and “inclusive” institutions in which “many” people are included in the process of governing hence the exploitation process is either attenuated or absent. Needless to say Acemoglu and Robinson’s theory is more subtle than this simple summary. They argue that for any economic success political institutions must be sufficiently centralized to provide basic public services including justice, the enforcement of contracts, and education. Given that these functions are carried out, inclusive institutions enable innovative energies to emerge and lead to continuing growth as exemplified by the Industrial Revolution. Extractive institutions can also deliver growth but only when the economy is distant from the technological frontier. These extractive institutions will ultimately fail, however, when innovations and “creative destruction” are needed to push the frontier. Hence, while success may be possible for a while under extractive institutions...
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...Development Trends in Southeast Asia and the Philippines I. DISCUSSION ON THE ESE PROBLEMS OF SEA AS A REGION A. ON ENVIRONMENTAL PROBLEMS SOUTHEAST ASIA IS OBJECTIVELY one of the most beautiful regions on Earth — it’s covered in dense jungle, it’s peppered with gorgeous beaches, and it’s full of incredible wildlife. It also has some spectacular urban centers, recently stimulated by massive economic growth. Unfortunately, the act of pulling people out of poverty and into the developed world often comes at the expense of the local environment. This is true of all countries in this scenario, but it’s particularly acute for Southeast Asian nations, as their economies — especially the tourism sector — depend so fundamentally on pristine natural resources. Most of the environmental issues in Southeast Asia are inextricably linked, and working to ameliorate one will often have added benefits for the others. Here are some of the problems, and some things you personally can do to help. 1. Endangered species conservation The problem: Southeast Asia sits almost entirely in the tropics, and as such, is covered in rich, dense, biologically diverse jungle. As a result of a wide number of factors — from poaching to deforestation — many native species are endangered. One of the most prominent of these species is the Asian elephant. The total number of Asian elephants in the world has sadly fallen to below 30,000, down from 100,000 at the beginning of the...
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...inclusive Wealth report 2012 measuring progress toward sustainability Summary for DeciSion-makerS unu-iHDP Secretariat of the International Human Dimensions Programme on Global Environmental Change conTriBuTorS Science Advisor Partha Dasgupta – university of cambridge Report Director anantha Duraiappah – iHDP executive Director Science Director Pablo muñoz – iHDP academic officer Report Authors matthew agarwala – London School of economics and Political Science Giles atkinson – London School of economics and Political Science/centre for climate change economics and Policy edward B. Barbier – university of Wyoming elorm Darkey – university of Bonn Partha Dasgupta – university of cambridge anantha Duraiappah – iHDP Secretariat Paul ekins – university college London Pablo fuentenebro – iHDP Secretariat Juan Sebastian Lozano – The nature conservancy (colombia) kevin mumford – Purdue university Pablo muñoz – iHDP Secretariat kirsten oleson – university of Hawaii Leonie Pearson – university of melbourne charles Perrings – arizona State university chris Perry – un-Water Decade Programme on capacity Development (unW-DPc) Steve Polasky – university of minnesota Heather Tallis – Stanford university Stacie Wolny – Stanford university Report Review Board John agnew – university of california, Los angeles Peter Bartelmus – Bergische universitaet Wuppertal/columbia university Julia Bucknall – World Bank Dabo Guan – university of Leeds michael Harris – university of Sydney...
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...FIANCIAL INCLUSION IN INDIA Introduction: Financial inclusion is the availability of banking services at an affordable cost to disadvantaged and low-income groups. In India the basic concept of financial inclusion is having a saving or current account with any bank. In reality it includes loans, insurance services and much more. Why We Need Financial Inclusion: * In the path of super power we the Indians will need to achieve the growth of our country with equality. * To remove poverty from the Indian context everybody will be given access to formal financial services. * Inclusive finance will provide banking related financial transactions in an easy and speedy way. * People will have safe savings along with other allied services like insurance cover, entrepreneurial loans, payment and settlement facility etc. * Opportunity for Banks to increase their business. * Boosting up business opportunities will definitely increase GDP and which will be reflected in our national income growth. * Financial access will attract global market players to our country that will result in increasing employment and business opportunities. Steps towards Financial Inclusion: * The Reserve Bank of India set up a commission named as Khan Commission in 2004 to look into financial inclusion. * The recommendations of the commission were incorporated into the mid-term review of the policy (2005–06). * Proposal for "no-frills" banking account...
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...Acquisition Strategy An acquisition strategy consists of a company having the agenda to further its success through acquiring other companies. Through acquisitions companies are oftentimes able to enhance resource strengths to gain a competitive advantage in their respective industries. We are seeing more and more companies with acquisition strategies in recent decades, fast becoming one of the major driving forces in many industries in America. Although acquisition relates more to the management, ownership, and financial arrangements than to corporate strategy, a successful acquisition will result in added or combined resources that lead to substantial competitive capabilities (Gamble 2010, p. 118). There are several reasons for a company to adopt an acquisition strategy: • To fill gaps in its product line • To obtain new technologies as opposed to developing the existing company in order to compete effectively • To expand its geographic coverage • To reduce supply chain costs and become a efficient organization • To lead the industry with a stronger position with combined products and /or resources (Gamble 2010, p. 120) In addition, there are several positive outcomes that an acquiring company might see after acquisition: • Lower costs due to combined personnel and resources • Gained technological knowledge • More or better capabilities...
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