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2757 items in total found

Working Papers | 1991

Seed Industry in India Achievements and Prospects for growth

Gurdev Singh and Asokan S R

The paper enlists important policy measures taken to develop seed industry in India since 1947, progress made, and prospects for its growth. It reveals that the protectionist policy on seeds was abandoned in late eighties when seed industry was placed in Appendix I of the licensing policy. Subsequently under the New Seeds policy import of some seeds was placed under Open General Licensing while that of some others was permitted for two years subject to transfer of technology by the foreign company. Though impact of all such measures could not be seen immediately, the quality seed production has increased to 5.7 million quintals in 1989-90. The number of seed organizations in public and private sector has gone up to over 100. Seed multiplication alone has achieved a turn over of over Rs.3,000 million, about 50 pr cent of which was due to private sector. Few private companies have taken up seed research and are able to evolve more than 100 varieties/hybrids. However, still there is a big gap between production and requirement of quality seed. The requirement is estimated at 11.74 million quintals for 1989-90 and 22.19 million quintals for 2000 AD. The seed replacement has been far below the recommended rate for almost all major crops primarily due to non-availability of quality seeds of suitable varieties. Besides, there is good export demand for Indian seeds. Also to feed the teaming millions farm production must increase on continuous basis and productivity being the prime contributor to increasing production, seed quality must improve. Thus investment in research has good prospects and private sector must avail this opportunity to supplement public sector efforts. Biotechnology is a new hope as it ensures quicker multiplication and new strains. All this reflects on the bright prospects of growth for seed industry in India, the paper concludes.

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Working Papers | 1991

Indian Oilmeals/Cakes Scenario, 1961-90

Rao V M

NCA (1976) has estimated that 5.75 million tonnes of concentrates are needed to bridge the gap between availability and requirement. On the other hand demand for milk is increasing year after year due to population growth, and raise in per capital income. Hence demand for livestock feeds, for economic milk production, will increase. This paper is an attempt to review consumption, production and trade related aspects of oil meals India. Cotton, groundnut, and rapeseed are major oil cakes in terms of consumption, and production, though there are side fluctuations in their relative shares. Estimated elasticity of price, and adult bouines one of the expected signs and stastically different from zero at 99% level. India is a major exporter of oil meals in the world and on an average 20% of production is being exported to developed economies of the world.

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Working Papers | 1991

Some Thoughts on our Trade Unions

Sheth N R

This paper was prepared as a script for the S.D. Punekar Memorial Lecture delivered at the Tata Institute of Social Sciences, Bombay. It contains an attempt to review the state of art in trade unionism in India in the background of the mounting concern within and outside trade unions about the relevance of trade unionism in its present form. This concern is a product of some significant changes in the approach to management of industrial relations and the growing economic complexity in business and industry. It is argued that the primary function of trade unions is to provide a countervailing power for employees in relation to management and the society at large within the framework of the basic values of social equality, justice, fairness and human dignity. The development of trade unionism among blue-collar, white-collar and other categories of workers is briefly examined in the context of this primary function. The various social and political forces within and outside trade unions affecting their performance are explained in the course of the paper. Finally, some observations are offered on the role of trade unions as a part of the changing society in the foreseeable future and the crucial issues trade unions are likely to face.

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Working Papers | 1991

Crisil Rating: When Does AAA Mean B?

Ragunathan V and Lahiri Somdeb

In this paper an attempt has been made to assess the quality of credit rating function being performed by CRISIL, hitherto the sole credit rating agency in India. With this objective, the paper attempts to answer two important questions, namely: a) Are CRISIL's standards of rating comparable to international standards? And b) Are CRISIL's rating internally consistent? The questions are answered by assessing the companies rated AAA by CRISIL on the Standard and Poor's (S&P) standards. It turns out that the CRISIL's AAA companies rate variously from B to A on the S&P standards! This indicates that CRISIL's credit rating standards are not only much below international standards, they are also internally inconsistent. CRISIL's rating reports on its AAA companies are carefully analyzed to see if the ratios employed by it are significantly different from those of S&P's so that their AAA ratings may be consistent vis-a-vis their own ratios rather than by S&P's ratios. Even this does not turn out to be so. CRISIL's rating reports are also analyzed for any qualitative reasons for the award of AAA ratings. No strong reasons are found. Thus it is concluded that the discriminating ability of CRISIL's ratings vis-à-vis risk and hence their meaningfulness and usability are in general questionable. This conclusion assumes all the more significance in the light of interest rates being allowed to be determined by market forces, and the interest rates in turn being linked to credit-worthiness of the borrowers more than ever before. Thus, the paper strengthens the case for more credit rating agencies both in the private as well public sector for making the rating business competitive. It also provides a more objective framework for assessing the performance of credit rating agencies in general.

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Working Papers | 1991

The Nash-Bargaining Solution for Public Sector Pricing Problems

Lahiri Somdeb

In this paper e study some issues in positive second-best theory, specifically the theory of optimal pricing of private goods produced by public firms; that is, firms whose objective departs from profit maximization. The approach in this paper differs from earlier analysis of the so-called Ramsey pricing problem, in that we embed our problem in a bargaining theory framework.

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Working Papers | 1991

Computer Based Itinerary Planning on Transportation Systems

G. Raghuram and Shobana R

Customers seek to know the best way of getting from an origin to a destination on a transportation system. Knowing the best way, i.e., itinerary planning, becomes all the more important when there are varied choices depending on the desired starting day and time at the origin or a required arrival day and time at the destination. Other considerations like cost, number of connections, etc., also play a role in the planning of an itinerary. A computer based system could enhance a customer's ability to make better choices in itinerary planning. No such system exists in either the Airlines, Railways, or Road Transport Corporations in India. This paper describes an interactive PC – based computer system developed by the authors, for itinerary planning on airlines (Indian Airlines and Vayudoot). The paper is supplemented by four annexures to facilitate further development covering system flow charts, structure of the database for maintenance and the implementation of the shortest and the k-shortest path algorithms. A users manual for the package is also provided.

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Working Papers | 1991

Implementation of Large Computer-Communication Projects in a Developing Country - A Case Study

Rekha Jain and G. Raghuram

The implementation of geographically dispersed computer-communication projects involving large financial outlays is a complex task, more so in a developing country context. This paper is focused around a case study which highlights some of the issues in the context of Indian Railways decision to implement a large computer-communication network for the management of it's freight operations. The case study is followed by a case analysis which first analyses the causes of project delay; then issues specific to this being a computer communication project, as well as issues which are of general nature and which we believe will be applicable to high technology projects involving large investments in a developing country context are discussed.

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Working Papers | 1991

European Economic Community Review of Literature Reactions in India: Part I: 1960-80

Gaikwad V R

This is our forth working paper (WP) on the EC. The first paper (WP 841, Jan.1990) analysed the basic motives underlying the formation of the EC as reflected in the writings of Jean Monnet-“The Father of the Common Market”. The paper discussed the gigantic changes of great historical significance taking place in Europe. Following the Common Market strategy EC is relentlessly moving towards its ultimate political objectives, i.e., a United States of Europe. Recent events in Eastern Europe and USSR are not spontaneous but result of the long-term strategy for uniting 'People of European Origin'. Gorbachov's perestroika and glanost are strategies to provide “freedom” to East Europeans and European (white) Russia to ultimately become members of a Unites States of Europe. Both Monnet's and Gorbachov's strategies have been and are being executed with great finesse, shrewdness and top level diplomacy to develop a sense of complacency among the non-European communities. Today, EC leaders talk about “a broader, Helsinki-type Europe, from San Francisco to Vladivostock”. Our analysis indicates that the driving force behind the 'Unity of Europe' and of “People of European Origin” is genetic-ethnic-racial. It indicates that Europe's march from nationalism to supra-nationalism leads to supra-Euracialism. EC-1992 is of great symbolic significance for non-European communities. It is exactly 500 years after Columbus reached North America in 11492; the beginning of ruthless exploitation of non-European communities since then. EC-1992 is a landmark, a symbol of consolidation of European power and Euracial fundamentalism. It can also be a prelude to War of Races. Against the United Europe and 'People of European Origin” where do non-European communities stand? Have they realised in time the long-term implications of European unification processes and taken timely steps so safeguard their future? Have they asked themselves the question, whether by cooperating with EC with an eye on short-term commercial gains, are they further strengthening Europe's drive towards its politico-racial objective? In our second paper (WP 854, Mar,1990) we have sought answers to these and related questions in the writings of western writers. In our third paper (WP872, July 1990) we have discussed twelve sets of questions which try to look at EC from our perspective, i.e., non-European perspective. In this paper we shall see whether Indian thinking on EC has been in any way different from that of the western writers. Did it go beyond the traditional, stereotype ways of looking a European Community? What basic issues and concerns dominated Indian thinking? What was their analysis of events and reading of the future? What strategies and actions they recommended? And so on. The paper reviews ICSSR's survey of research (trend reports) in various disciplines, especially, in Public Administration (Khilnani and Sinai, “Administration of External Affairs”), Macroeconomic (Manmohan Singh, “International Trade and Payments”), Management (C.P.Rao, “Marketing”), Political Science: International Studies (Prasad and Phadnis, “Area Studies”; Mahendra Kumar, “Foreign Policy”; K.Subrahmanyam. “Defence Policy and Analysis”). In addition, the paper reviews in detail the writings of eleven other Indian scholars from various disciplines. This review is an eye-opener. It tells us about our scholars', top political leaders' and bureaucrats' world view, their orientation towards EC, and their reading of the events and perceptions about the future. Readers can themselves check the validity of these writers' assumptions and conclusions and their perceptions against the current realities.

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Working Papers | 1991

Development of Food-Processing Industries

Desai B M and Nambudiri C N S

The paper has analysed development and financial, with special reference to working capital management, performance of the selected food-processing industries. It prioritizes these industries for their development based on these performance criteria. It also discusses strategy for accelerated development of these industries. Food-processing industries selected for the study are foodgrains milling, edible oilseeds processing, sugarcane processing, and milk processing. The paper also discusses the rationale for selection of these industries.

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Working Papers | 1991

Option Trading: A Primer and a Proposal

Gupta Ramesh

The option industry has witnessed explosive growth since 1973 when the first organized option exchange opened in Chicago. Moreover, this growth is continuing into the 1990s as entirely new types of options are created and as more of the traditional options on securities are listed and traded. Options on commodities, options on financial indices and options on future contracts are all exciting new products. Understanding these new products well enough to sell them has been straining the capacity of the world security industry. At present, instruments prevalent in India are meant primarily to raise resources from public for corporate sector. We hardly have any mechanism or instruments which would help the investors in managing the risk commensurate with their preferences. It is high time that option trading is launched in Indian stock exchanges. This paper provides a primer on option trading and a preliminary proposal for its implementation in India. For successful launching of option trading in India we would require the following: 1 The standardization of the terms of option contracts. 2 The careful selection of underlying security. 3 The appointment of a number of market makers with adequate financial resources. 4 The creation of an Option Clearing House as the single guarantor of every exchange traded option. 5 The creation of an active secondary market. 6 The creation of a central market place with its attendant regulatory, surveillance and price dissemination capabilities. 7 The creation of paperless trading and book-entry transfer system.

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