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3721 items in total found

Journal Articles | 2018

Farmer producer organizations as farmer collectives: A case study from India

Nalini Bikkina, Rama Mohana R. Turaga, and Vaibhav Bhamoriya

Development Policy Review

Small and marginal farmers in India have been vulnerable to risks in agricultural production. Several organizational prototypes are emerging to integrate them into the value chain with the objectives of enhancing incomes and reduction in transaction costs. One such alternative is Farmer Producer Organizations (FPOs). We explore the potential of FPOs as collective institutions through a case study of Avirat, one of the first FPOs in Gujarat. Our analysis suggests that FPOs have the potential to provide benefits through effective collective action. The main challenge, however, is to raise sufficient capital that can maximize these benefits. We discuss the implications of our findings to policy

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Journal Articles | 2018

Real time location prediction with taxi-GPS data streams

Arnab Kumar Laha and Sayan Putatunda

Transporation Research Part C: Emerging Technologies

The prediction of the destination location at the time of pickup is an important problem with potential for substantial impact on the efficiency of a GPS enabled taxi service. While this problem has been explored earlier in the batch data set-up, we propose in this paper new solutions in the streaming data set-up. We examine four incremental learning methods using a Damped window model namely, Multivariate multiple regression, spherical-spherical regression, Randomized spherical K-NN regression and an Ensemble of these methods for their effectiveness in solving the destination prediction problem. The performance of these methods on several large datasets are evaluated using suitably chosen metrics and they were also compared with some other existing methods. The Multivariate multiple regression method and the Ensemble of the three methods are found to be the two best performers. The next pickup location problem is also considered and the aforementioned methods are examined for their suitability using real world datasets. As in the case of destination prediction problem, here also we find that the Multivariate multiple regression method and the Ensemble of the three methods gives better performance than the rest.

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Books | 2018

Handbook on nuclear regulatory framework in India

M.P. Ram Mohan and Tyson R. Smith

Eastern Book Company

Working Papers | 2018

Lighting up Lives through Cooking Gas and transforming society

S. K. Barua and Sobhesh Kumar Agarwalla

The study, reported in the form of a case, narrates the story of a major attempt at social transformation through a simple mechanism of providing cooking gas (LPG) to the marginalized in society. Targeting about 100 million households in India who still use dung-cakes, firewood, and coal as the primary fuel for cooking, the Pradhan Mantri Ujjwala Yojana (PMUY) was conceived with the objective of replacing these traditional fuels with LPG which is a clean fuel. The initial target of providing 50 million Below Poverty Line (BPL) families with LPG at the time of the launch of the scheme on May 1, 2016 was increased to 80 million by 2019-20, and as of January, 2018 over 30 million families had already been covered by the scheme.

The key findings are as follows. The scale and speed of implementation were achieved through excellent coordination between the government system, the government-owned Oil Marketing Companies (OMCs) and the banking system. The government system represented by officials from the central government, the state governments, and the village heads (Sarpanchs) helped in identifying BPL beneficiaries and in mobilizing people to canvass the idea of switching over to LPG from traditional fuels for cooking. The OMCs (the three companies involved in the implementation were IOCL, BPCL and HPCL) designed and created the robust logistics system needed for bottling and distribution of cooking gas. They also designed and created the IT platform required for easy transaction and record keeping for the entire logistics system. The banks provided the infrastructure needed for flow of funds, including flow and accounting of subsidies from the government.

PMUY is clearly one of the largest social intervention schemes executed anywhere in the world in challenging environment. Its successful implementation provides insights into management of such interventions. The lessons that can be drawn from the implementation would be of use for similar large-scale social interventions.

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Working Papers | 2018

Too much care? Private health care sector and surgical interventions during childbirth in India

Mitul Surana and Ambrish Dongre

This paper evaluates the role of the private sector in performing one of the common surgical interventions, i.e. caesarean sections during childbirth in India. We use the latest round of National Family Health Survey to estimate the differential probability of C-section in private medical facilities relative to government facilities. We employ two estimation techniques, Household Fixed Effects and Coarsened Exact Matching, to reduce the extent of selection bias in the choice of delivery location. We also take advantage of a new question introduced in the survey which allows identification of planned C-sections which are more likely to be the result of either demand for C-section or unobservable (in the data) medical risks. We find that the probability of an unplanned C-section is 13.5-14 percentage points higher in the private sector. Given that some of the planned C-sections could be a result of supplier-induced demand, this is a very conservative estimate. Our results suggest that there were potentially 0.9 million preventable C-sections in the private sector in 2016. These results therefore call for a critical assessment of the role of private sector in healthcare in the context of inadequate public provision, expanding private provision and weak governance structures.

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Working Papers | 2018

Risk-sensitive Basel Regulations and Firms' Access to Credit: Direct and Indirect Effects

Balagopal Gopalakrishnan, Joshy Jacob, and Sanket Mohapatra

This paper examines the impact of risk-sensitive Basel regulations on access to debt and cost of debt for firms with varying characteristics around the world, and investigates how firms cope through reliance on alternative financing sources and adjustments to their capital investments. We find that the implementation of Basel II regulations had a significant impact on the credit availability for firms. The results indicate that debt financing has become more difficult for the lower-rated firms in the post-Basel II period. Firms mitigate the shortage in bank credit induced by the regulation through a combination of higher trade credit, lower payouts, and reduced capital investments. In particular, lower-rated firms substitute reduced bank credit with increased reliance on accounts payables. Such firms also lower their payouts to shareholders, in an effort to maintain their liquidity. We also find that the lower-rated firms experience a significant decline in their capital investment in the post-Basel II period, implying an active response to the deterioration in access to credit. Our key results are robust to alternative estimations that control for changes in credit demand and credit supply shocks, and inclusion of bank-specific variables obtained from loan-level information. The findings of the paper substantially contribute to the understanding of the real effects of risk-sensitive bank capital regulations.

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Working Papers | 2018

Impact of Price Path on Disposition Bias

Avijit Bansal and Joshy Jacob

Recent experimental studies have illustrated the influence of price-path, particularly the `non-straight price-path on several aspects of investor behavior. The paper computes a proxy for price-path based on Cumulative Prospect Theory and with investor- level high-frequency trade data from the commodities futures market, demonstrates that the nature of the price-path significantly impacts the degree of disposition bias, after controlling for the level of returns and volatility of the commodity. We find that the experience of a favorable (unfavorable) price-path, decreases (increases) disposition bias among the traders with Prospect Theory preferences. The decline (increase) in disposition bias is an outcome of the decline (increase) in the propensity for gain realization, accompanied by a concurrent increase (decline) in the propensity for loss realization among the traders. We conjecture that both investor preferences and beliefs about future price movement, inferred from the price-path experienced, influence their trading decisions.

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Working Papers | 2018

Study of Retail Electricity Consumers' Response and Perception Regarding Electricity Consumption

Krishnendranath Mitra and Goutam Dutta

The price of retail electricity is restricted by regulations and have not increased at a same pace with the ever-growing demand of electricity. However, there exists a considerable amount of consumer surplus that can be harnessed by the electricity industry to improve the quality of service. In this paper we make an attempt to understand some characteristics of household electricity consumer demand. We performed an empirical, descriptive research and used inductive reasoning. Quantitative and qualitative primary data was collected through a questionnaire administered in Microsoft Excel format from 173 respondents. We propose a suitable present and future market segmentation of the retail electricity market based on several demographic and perceptual parameters respectively. We also analyze the demand price relationships and the price elasticities of demand for four appliances. We find that the willingness-to-pay is nearly five times the present average price of electricity. We also present perceptual distances for the future market related to adoption of dynamic prices and renewable energy by consumers.

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Working Papers | 2018

Impact of the Proposed GST on the Consumer
Price Index in India

Sebastian Morris, Ajay Pandey, Sobhesh Kumar Agarwalla, and Astha Agarwalla

Fears that the movement to GST would add to inflation have been unfounded. In this study we ex-ante estimate the impact the movement to GST would have on inflation and show that it would be very marginal at best. The inflation argument to have multiple rates is therefore weak. The impact on the CPI is worked out by considering each item that goes into the CPI with the weights as in the CPI (drawn from NSS 2011-12). The problem in computation is that for some items there are multiple rates of overall tax (either Sales or Excise or both) within the same item as in the CPI. This issue has been handled by working with alternative of minimum existing rate, maximum and simple average to show that even when the minimum rate is used the impact on inflation in a shift to GST is minimal. However the difficulties and issues with GST may lie elsewhere as in the proposed double till, the destination basis which would have to be studied for their differential impact across industries and states.

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Working Papers | 2018

Lender Moral Hazard in State-owned Banks: Evidence from an Emerging Economy

Balagopal Gopalakrishnan, Joshy Jacob, and Ajay Pandey

We examine the credit risk-choices of the public sector banks (PSBs) in India with a novel dataset that is able to trace the borrowers to their banks. We determine the likelihood of the ownership type of the lender bank associated with every firm, using a lender type prediction model with a set of observable risk proxies such as the ex-ante credit ratings. The analysis indicates that the PSBs are more likely to lend to observably risky firms compared to the private banks (PBs). The observed likelihood of lending to riskier firms is significantly higher among the smaller PSBs. The set of firms that majorly contribute to the higher credit-risk choice of the PSBs include the riskier service-sector firms, firms that borrow by pledging promoter shares, and firms that are likely to be impacted by the change of political regime.

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