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.

Mythological Elements in the Post Independent Hindi Dramas (l947- I975)

HINDI

A study of the evolution and working of regulated markets in Tamilnadu

This study presents a detailed investigation of the origin and development of regulations in agricultural marketing in Tamil Nadu. It evaluates the method and process of regulation practised through the orgahisation of a chain of regulated markets in the State. The study also examines in detail the conceptual frame work behind state intervention and show the original concept has been modified subsequently to suit the changed conditions during the post-independence era of planning for economic development Specific objectives explained in the present study include the following: viz, a) The historical aspects that necessitated state intervention in agricultural marketing in the form of organising regulated markets and their evolution, b) The conceptual and organisational bases of regulated markets in Tamil Nadu. c) The impact of such regulations on the existing trade channels or systems.168 d) The performance and efficiency of regulated markets and their achievements. The study also has suggested some remedial measures to reorganise the present organisational pattern of regulated marketing in Tamil Nadu.

Characteristic Study of the Boundary Layer Parameters over the Arabian Sea and the Bay of Bengal Using the QuikSCAT Dataset

The marine atmospheric boundary layer (MABL) plays a vital role in the transport of momentum and heat from the surface of the ocean into the atmosphere. A detailed study on the MABL characteristics was carried out using high-resolution surface-wind data as measured by the QuikSCAT (Quick scatterometer) satellite. Spatial variations in the surface wind, frictional velocity, roughness parameter and drag coe±cient for the di®erent seasons were studied. The surface wind was strong during the southwest monsoon season due to the modulation induced by the Low Level Jetstream. The drag coe±cient was larger during this season, due to the strong winds and was lower during the winter months. The spatial variations in the frictional velocity over the seas was small during the post-monsoon season (»0.2 m s¡1). The maximum spatial variation in the frictional velocity was found over the south Arabian Sea (0.3 to 0.5 m s¡1) during the southwest monsoon period, followed by the pre-monsoon over the Bay of Bengal (0.1 to 0.25 m s¡1). The mean wind-stress curl during the winter was positive over the equatorial region, with a maximum value of 1.5£10¡7 N m¡3, but on either side of the equatorial belt, a negative wind-stress curl dominated. The area average of the frictional velocity and drag coe±cient over the Arabian Sea and Bay of Bengal were also studied. The values of frictional velocity shows a variability that is similar to the intraseasonal oscillation (ISO) and this was con¯rmed via wavelet analysis. In the case of the drag coe±cient, the prominent oscillations were ISO and quasi-biweekly mode (QBM). The interrelationship between the drag coe±cient and the frictional velocity with wind speed in both the Arabian Sea and the Bay of Bengal was also studied.

Studies On Bods And Dissolved Oxygen In The Kadinamkulam Kayal, Southern Kerala

This paper discusses the salient features associated with the variation in the BODs and dissolved oxygen concentration in the Kadinamkulam Kayal based on fortnightly data from two selected stations from October1987toSeptember1988.The BODs ranged from 5.76 to 24.39 mg/l in the surface water and from 4.96 to 22.60mg!1 in the bottom waterat station-l whereas at station-2, it ranged from 0 to 3.74mg/1 in the surface water and from 0 to 3.40 mg!l in the bottom water. The dissolved oxygen concentration ranged from 0 to 0.72 mglI in the surface water and from 0 to 0.42 mg!l in the bottom waterat station-I, At station-2 it ranged from 2.69 to 6.21mg!1 in the surface waterand from 1.97 to 5.74 mg!1 in the bottom water. The pre-monsoom period showed the highest BODsof 16.68mg!I while the monsoon period showed the lowest of 0.61 mg!I. The dissolved oxygen concentration reached its peak during the monsoon period (5.52 mg/I). Long spells of anoxic condition during the post and pre-monsoon periods was a characteristic feature of the retting zone

Macrobenthos And Its Relation To Ecosystem Dynamics In The Cochin Estuary

Cochin estuary is a shallow brackish water body situated on the south west coast of India. It is a tropical positive estuary extending between 90 40’ and 100 12’ N and 760 10’and 760 30’ E with its northern boundary at Azhikode and southern boundary at Thannermukkom bund.The abundance of benthic fauna in an ecosystem shows the close relationship to its environment and reflects the characteristics of an ecological niche. Seasonal and monthly variations in the distribution of macrobenthos in relation to sediment characteristics were conducted in Cochin estuary from 2009-10 periods. Oxidation-reduction potential showed reducing trends that affected the distribution and diversity of fauna. Seasonal variations in water quality and river discharge pattern affected the faunal composition in the different stations. Sewage mixing was the principal source of organic pollution in the Cochin estuary. The sediment pH was generally on the alkaline side ranging from 4.99 at St.9 and 8.33 at St.1.The Eh ranged from -11mV at St.3 to -625mV at St.2.The temperature varied from 260C to 320C in the estuary. The moisture content ranged from 1.63 to 12.155%, that of organic carbon from 0 09 at St. 6 to 4.29% at St.9 and that of organic matter from 0.16 to 7.39%. Seasonally, the average of Eh was highest during the monsoon (156.22 mV) and in the pre monsoon (140.94 mV). The average pH for the 9 study stations was 7.68 during monsoon period and 7.08 during post monsoon. Based on group wise seasonal analysis, the average mean abundance was maximum for polychaetes (43.47) followed by nematodes (33.62), crustaceans (21.62), molluscs (11.94) and Pisces (0.05) in the estuary. Monsoon season was most favourable for benthic faunal abundance followed by the post monsoon period in the study. The series of human interventions like dredging, discharge of industrial effluents, urbanisation and related aspects had a strong influence on the distribution, abundance of benthic macrofauna in the wetland.

Econometrics as an Academic Discipline in Higher Education: An Exploratory Study of the Need, Relevance and Significance

Econometrics is a young science. It developed during the twentieth century in the mid-1930’s, primarily after the World War II. Econometrics is the unification of statistical analysis, economic theory and mathematics. The history of econometrics can be traced to the use of statistical and mathematics analysis in economics. The most prominent contributions during the initial period can be seen in the works of Tinbergen and Frisch, and also that of Haavelmo in the 1940's through the mid 1950's. Right from the rudimentary application of statistics to economic data, like the use of laws of error through the development of least squares by Legendre, Laplace, and Gauss, the discipline of econometrics has later on witnessed the applied works done by Edge worth and Mitchell. A very significant mile stone in its evolution has been the work of Tinbergen, Frisch, and Haavelmo in their development of multiple regression and correlation analysis. They used these techniques to test different economic theories using time series data. In spite of the fact that some predictions based on econometric methodology might have gone wrong, the sound scientific nature of the discipline cannot be ignored by anyone. This is reflected in the economic rationale underlying any econometric model, statistical and mathematical reasoning for the various inferences drawn etc. The relevance of econometrics as an academic discipline assumes high significance in the above context. Because of the inter-disciplinary nature of econometrics (which is a unification of Economics, Statistics and Mathematics), the subject can be taught at all these broad areas, not-withstanding the fact that most often Economics students alone are offered this subject as those of other disciplines might not have adequate Economics background to understand the subject. In fact, even for technical courses (like Engineering), business management courses (like MBA), professional accountancy courses etc. econometrics is quite relevant. More relevant is the case of research students of various social sciences, commerce and management. In the ongoing scenario of globalization and economic deregulation, there is the need to give added thrust to the academic discipline of econometrics in higher education, across various social science streams, commerce, management, professional accountancy etc. Accordingly, the analytical ability of the students can be sharpened and their ability to look into the socio-economic problems with a mathematical approach can be improved, and enabling them to derive scientific inferences and solutions to such problems. The utmost significance of hands-own practical training on the use of computer-based econometric packages, especially at the post-graduate and research levels need to be pointed out here. Mere learning of the econometric methodology or the underlying theories alone would not have much practical utility for the students in their future career, whether in academics, industry, or in practice This paper seeks to trace the historical development of econometrics and study the current status of econometrics as an academic discipline in higher education. Besides, the paper looks into the problems faced by the teachers in teaching econometrics, and those of students in learning the subject including effective application of the methodology in real life situations. Accordingly, the paper offers some meaningful suggestions for effective teaching of econometrics in higher education

From Market Concentration to Market Diversification: WTO and the Marine Products Exports from Kerala- Using ARIMA

Marine product export does something pivotal in the fish export economy of Kerala. The post WTO period has witnessed a strengthening of food safety and quality standards applied on food products in the developed countries. In the case of the primary importers, like the EU, the US and Japan, market actions will have far reaching reverberations and implications for the marine product exports from developing nations. The article focuses on Kerala’s marine product exports that had been targeting the markets of the EU, the US and Japan, and the concomitant shift in markets owing to the stringent stipulations under the WTO regime. Despite the overwhelming importance of the EU in the marine product exports of the state, the pronounced influence of irregular components on the quantity and value of marine product exports to the EU in the post WTO period raises concern. However, the tendencies of market diversification validated by the forecast generated for the emerging markets of the SEA, the MEA and others, to an extent, allay the pressures on the marine product export sector of the state which had hitherto relied heavily on the markets of the EU, the US and Japan