Impact of Monetary Policy on Indian Economy in the Post-Reform Period

The present study was an attempt to analyze systematically the techniques of monetary control measures with its relevance and changing importance and to find out their effectiveness in the Indian context especially to achieve the thriving objectives of price stability and economic growth.There is definite and remarkable economic impact of monetary policy on Indian economy in the post-reform period. The importance of monetary policy has been increasing year after year. Its role is very relevant in attaining monetary objectives, especially in managing price stability and achieving economic growth. Along that, the use and importance of monetary weapons like Bank rate, CRR, SLR, Repo rate and Reverse Rate have increased over the years. Repo and Reverse Repo rates are the most frequently used monetary techniques in recent years. The rates are varied mainly for curtailing inflation and absorb the excess liquidity and hence to maintain price stability in the economy. Thus, this short-time objective of price stability is more successful on Indian economy rather than other long-term objectives of development.Monetary policy rules can be active or passive. The passive rule is to keep the money supply constant, which is reminiscent of Milton Friedman’s money growth rule. The second, called a price stabilization rule, is to change the money supply in response to changes in aggregate supply or demand to keep the price level constant. The idea of an active rule is to keep the price level and hence inflation in check. In India, this rule dominates our monetary policy. A stable growth is healthy growth.

Predicted impact of the sea-level rise at VellareColeroon estuarine region of Tamil Nadu coast in India: Mainstreaming adaptation as a coastal zone management option

Low-lying coastal areas are more vulnerable to the impacts of climate change as they are highly prone for inundation to SLR (Sea-Level Rise). This study presents an appraisal of the impacts of SLR on the coastal natural resources and its dependent social communities in the low-lying area of VellareColeroon estuarine region of the Tamil Nadu coast, India. Digital Elevation Model (DEM) derived from SRTM 90M (Shuttle Radar Topographic Mission) data, along with GIS (Geographic Information System) techniques are used to identify an area of inundation in the study site. The vulnerability of coastal areas in Vellar-Coleroon estuarine region of Tamil Nadu coast to inundation was calculated based on the projected SLR scenarios of 0.5 m and 1 m. The results demonstrated that about 1570 ha of the LULC (Land use and Land cover) of the study area would be permanently inundated to 0.5 m and 2407 ha for 1 m SLR and has also resulted in the loss of three major coastal natural resources like coastal agriculture, mangroves and aquaculture. It has been identified that six hamlets of the social communities who depend on these resources are at high-risk and vulnerable to 0.5 m SLR and 12 hamlets for 1 m SLR. From the study, it has been emphasized that mainstreaming adaptation options to SLR should be embedded within a coastal zone management and planning effort, which includes all coastal natural resources (ecosystem-based adaptation), and its dependent social communities (community-based adaptation) involved through capacity building

An Integrated Study on the Holocene Aquifer and the Water Resource Potential of Karamana River Basin, Southern Kerala, India

Water constitutes the basic resource for life. Management of coastal aquifers, which are the important sources of freshwater that feed the rapid economic growth of the region is facing increasing challenges. A large portion of the global population inhabits the coastal and adjoining areas leading to a high demand for water both surface and ground water resources of coastal tracts. With increasing population this puts significant stress on water resources of many of the coastal tracts of the world. Several recent studies have indicated that coastal aquifers of Cenozoic age are globally under threat due to several reasons. Climate change is expected to affect the freshwater resources of coastal aquifers, which in turn will affect half of the global population residing in coastal areas. Sea-level rise will induce landward migration of the freshwater-saltwater transition zone, i.e., seawater or saltwater intrusion, jeopardizing freshwater availability. In order to facilitate the management of fresh coastal groundwater resources, a comprehensive understanding of the SLR-SWI relationship is crucial.