Foreign exchange reserves in India and China

Professor Irma Glicman Adelman, an Irish Economist working in California University at Berkely, in her research work on ‘Development Over Two Centuries’, which is published in the Journal of Evolutionary Economics, 1995, has identified that India, along with China, would be one of the largest economies in this 21st Century. She has stated that the period 1700 - 1820 is the period of Netherlands, the period 1820 - 1890 is the period of England the period 1890 - 2000 is the period of America and this 21st Century is the century of China and India. World Bank has also identified India as one of the leading players of this century after China. India will be third largest economy after USA and China. India will challenge the Global Economic Order in the next 15 years. India will overtake Italian economy in 2015, England economy in 2020, Japan economy in 2025 and USA economy in 2050 (China will overtake Japan economy in 2016 and USA economy in 2027). India has the following advantages compared with other economies. India is 4th largest GDP in the world in terms of Purchasing Power. India is third fastest growing economy in the world after China and Vietnam. Service sector contributes around 57% of GDP. The share of agriculture is around 17% and Manufacture is 16% in 2005 - 2006. This is a character of a developed country. Expected GDP growth rate is 10% shortly (It has come down from 9.2% in 2006 - 2007 to 6.2% during 2008 - 2009 due to recession. It is only a temporary phenomenon). India has $284 billion as Foreign Exchange Reserve as on today. India had just $1 billion as Foreign Exchange Reserve when it opened its economy in the year 1991. In this research paper an attempt has been made to study the two booming economies of the globe with respect to their foreign exchange reserves. This study mainly based on secondary data published by respective governments and various studies done on this area

Resource Sharing Among Engineering College Libraries Affiliated To Mahatma Gandhi University, Kerala: A Proposed Model

There are around 150 engineering colleges (ECs) in Kerala under the government, aided and self financing (S.F.) sectors. While the college libraries in the government and aided sectors receive several grants, the libraries of S.F. colleges are solely run by their own funds. The rising costs of scholarly publications and strict AICTE stipulations regarding libraries and their collection, pose great difficulties to the libraries in all sectors in finding adequate budgets to provide quality services. Library cooperation/resource sharing helps to overcome this problem to a considerable extent. The present study analysed the facilities and services of the ECs affiliated to M.G.University, Kerala to identify whether there is a need for resource sharing (RS) among these libraries. The satisfaction of the users with their library resources and services were also ascertained. The study put forward a model for RS and the opinion of the librarians and users regarding the same were collected. Structured questionnaires were used to collect the required data. The study revealed that a wide gap exist between the libraries with respect to their facilities and services and many of the S.F. libraries have better infrastructure when compared to the government and aided college libraries. Majority of the respondents opined that RS is necessary to satisfy their information needs. The model of RS proposed by the study was widely accepted by the librarians and users. Based on the opinions and suggestions of the respondents, the study developed the potential model for resource sharing- the Virtual Resource Sharing Centre (VRSC).