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Special Centennial Issue

No. 409

October 2022

Vol. CIII (Part-II)

ISSN: 0019-5170


Analysis of Dynamics of Participation of Females in
Labour Force: Case of Rural-Haryana

Kiran Lamba2

The study examines the association of household characteristics constituting presence of elders and children and family income on participation of females in labour force using cross sectional data of twelve villages of rural-Haryana. Data has been collected through multistage random sampling. Multinominal logistic regression has been employed for examination of association of household features of females with participation of females in labour force. It has been found that employed status of females is independent with presence of children (6 years to 10 years), presence of children (10 years to 14 years) and presence of elders. Furthermore, willingness to work of females is significantly associated with presence of children (6 years to 10 years). Willingness to work has not been impacted by presence of children (10 years to 14 years) and presence of elders. Family income (annual) in categories constitute below 50000, 50001 to 100000, 100001 to 250000 and 250001 to 500000 is significantly associated with employed status of females and is not a barrier for female labour force participation. Willingness to work in the situation of unemployed females is not impacted by family income (annual) in three categories including family income (below 50000) and family income (50001 to 100000) and 1000000 and above. Concrete finding is that willingness to work of unemployed females is determined by family income (100001 to 250000).

Keywords: Association, Household characteristics, Crosssectional data, Multi-stage random sampling, Multinominal logistic regression.

  1. Research Scholar, Department of Economics, Bhaghat Phool Singh Mahila Vishwavidyalaya, Sonipat, Haryana, Email:
  2. Assistant Professor, Department of Economics, Bhaghat Phool Singh Mahila Vishwavidyalaya, Sonipat, Haryana, Email:

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Deterioration of the Environmental Quality in India:
A Role of Urbanisation

Prasenjit Ghosh1

The word ‘urbanisation’ is the synonym of the magnification of the urban population. It has been playing a supportive role to elevate the process of development but the increasing trend of urban population may decay the quality of the environment. The uncontrolled process of urbanisation provides job opportunities to the rural people; who have been migrated to the urban area and it may have some positive impact on the financial condition of the whole economy. Job with adequate salary encourages people to upgrade their living standards by purchasing or accessing motor vehicles to make smooth communication and the outcome is increasing demand for vehicles. An increasing number of motor vehicles may be a determining factor behind environmental degradation. Keeping in view the linkage effect present study focuses on the relationship between the trend of urban population and income of the people and then the study attempts to examine the link between financial status of the people and the number of registered motor vehicles. Finally, the study analyses the relationship between vehicle population and emission of carbon dioxide as an indicator of environmental quality in India. Econometric methods like ADF (Augmented Dickey- Fuller) and Granger Causality Test have been used to analyse and make an appropriate decision about the relationship between urbanisation and environmental quality. The study concludes that the upward trend of the urban population significantly influences the financial condition of the people and there is a positive impact of the financial condition of the people on the registration of motor vehicles. After analysing the available secondary data, finally, the present study conveys that vehicle population and the emission of carbon dioxide has been associated noteworthy. Urbanisation has been considerably influencing the environmental quality in India from 1991 to 2019. In this regard, it is very crucial to take various steps to curb the emission of pollutants in the air to improve environmental quality.

Keywords: Urbanisation, Income, Motor Vehicle, Environmental Degradation.
JEL Classification Code: O18, C22, C87, Q52
  1. Assistant Professor, Department of Economics, Jogamaya Devi College, University of Calcutta, West Bengal, Kolkata- 700 026, Email:

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Changing Competitiveness of India in World Market:
Evidence from Revealed Comparative Advantage

Suadat Hussain Wani1
Shahid Hamid Raina2

Liberalization around the world from last couple of decades has led to an increase in the trade between different countries. Many factors like common language, culture, tradition and comparative advantage have contributed to rapid growth of trade around the World. Like other countries, India has taken many steps to improve trade relations with other countries of the world. However due to Covid-19 and disruption in world trade from last two years, PM Modi has called for Atmanirbhar or self-reliance for domestic consumption and subsequently to supply for the world market also. Keeping the call of Atmanirbhar or production for world market in view, it is necessary to look at product groups in which India enjoys the comparative advantage from last many years. The present study aims to analyze comparative advantage of India in various product groups from 2001 at HS 2digit classification so that it is clear in which product groups the Country enjoys comparative advantage in world market. In addition, those product groups in which the Country has gained or lost comparative advantage with respect to world from last many years are examined so that appropriate trade policy can be formulated to make call for Atmanirbhar a success. Besides, the study examines determinants of export competativeness of product groups in which India enjoys comparative advantage with respect to world. The results indicate that though the country lost comparative advantage in 10 sectors during the analysis period, at the same time, gained advantage in 11 sectors which is a healthy sign for the economic development of the country. The results further indicate that mobile subscription, which is a proxy for telecommunication aspect of infrastructure, is positively contributing to competitiveness of India with respect to world.

Keywords : Trade relations, Comparative advantage, Trade competitiveness, World Market.

JEL Codes: F0., F1., F14

  1. Ph.D., scholar. Centre of Centre Asian studies, University of Kashmir Hazartbal Srinagar (190006).
  2. Assistant Professor, Dept. of Economics, Central University of Kashmir.

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Optimum Portfolio Selection Over the Period 2016-2021
Under South Korea - An Empirical Analysis

Amit Kundu1
Shubham Sah2

Selection of optimal portfolio is one of the major desires of investors, who would like to invest their money in the stock market. Constructing the portfolio consisting of securities and their weights in such a way that the expected return could be maximized and the risk associated with it could be minimized. Fifteen companies from Korean Stock Market have been taken for the analysis and standard deviation has been used as measure for risk. It is found that portfolio- 7 is optimum with the maximum sharp ratio i.e. 1.47. The Risk Averse investors would like to select the portfolio-7 as it gives the highest expected return among all the portfolios. The expected return in portfolio- 7 is 29.28 with the risk 19.87. In portfolio – 7 weights given to stocks Samsung Electronics Co Ltd, SK Hynix Inc, LG Chem Ltd, Naver Corp, Kakao Corp, Celltrion Inc, and KB Financial Group are 12%, 31%, 9%, 7%,26%, 9% & 6% respectively. It is clear in the study that SK Hynix Inc is doing very well in this time frame, as the weight of the company is highest in the optimum portfolio.

Keywords : Portfolio, Modern Portfolio Theory, Excel Solver, Expected Return, Risk, Sharp Ratio, Capital Market Line, Efficient Frontier.

  1. Associate Professor, Department of Commerce, Cooch Behar Panchanan Barma University, Cooch Behar, West Bengal, India. Email:
  2. Ph. D Scholar, Department of Commerce, Cooch Behar Panchanan Barma University, Cooch Behar, West Bengal, India. Email:

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Do Small and Marginal Farmers Really have
Concern Over Climate Change? Evidence from
Tamil Nadu Farmers

Sha Hussain Yacob Khan1
Sadasivam. K2

The inevitability of economic and social integration is a weapon that meets the basic needs of small and marginal farmers. Over-reliance on agriculture and a lack of understanding of climate change make farmers' livelihoods, food security and rural life a tasty treat for climate change. Moreover, the comparison between agricultural contribution to GDP and the number of households dependent on agriculture is negative. Consequently, this situation could worsen developing economies. Besides, past benefits for small and marginal farmers (accuracy over prediction) will be replaced by tomorrow's climate trends. Thus, the first aim of the study is to understand the problems and look at the level of perception, and secondly, to visualize influential socio-economic drivers in understanding climate awareness. This qualitative research adopts a three-stage sampling technique for data collection. The gathered information is analysed using Chi-square and logistic regression model. The findings reveal that the farmers’ awareness and perception of climate change are directly or indirectly unified with the socio-economic drivers. Within the socioeconomic drivers, the most influential factors include gender and caste, followed by age, occupation and cost of farming. Another promising finding of the study is that, the farmers who have taken up off-farm activities seriously often do not return to farming and their lands remain barren. Accordingly, the growth cycle requires that extension measures be promoted to meet the rational expectations and to improve the vision of the farmers. In terms of societal aspect, the study suggests for a vigorous requirement for intensified measures to eradicate inequalities among the diversified social groups for the attainment of property rights and social-inclusiveness of the weaker sections. Subsequently, farmers may not really care about the changing climate but they do care about agriculture.

Keywords- Climate, Farmers’ insight, Caste, Socialinclusiveness, Livelihood.

  1. Research Scholar & ICSSR Fellow, Department of Environmental Economics, School of Economics, Madurai Kamaraj University, Madurai, Tamil Nadu.
  2. Associate Professor, Department of Environmental Economics, School of Economics, Madurai Kamaraj University. Director, Madurai Kamaraj University Evening College, Madurai, Tamil Nadu.

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Determinants of Household’s Resistance against Land
Acquisition for Irrigation Project

Dolagobinda Kumbhar1
Lopamudra Mishra 2

The present paper makes an analysis of the effect of displacement due to the Lower Suktel Irrigation Project (LSIP) in Bolangir district Odisha. It tries to identify the causes of resistance on the part of the displace people against land acquisition for the irrigation project. The present paper is based on the primary data obtained from 300 households by using open door to door survey from fully displaced and partially displaced villages. Simple descriptive statistics, z-statistics including the binary Logit model have been used to verify the important causes of resistance of LSIP households in the study area. The analysis includes variables such as caste, households’ size, total households income, land loss, and compensation for both land and house. It is found that households losing large size land, resistance both in fully and partially displaced.

Keywords : Irrigation Project, Displacement, Binary Logit Model, Compensation, Land Loss.

  1. Research Scholar, P.G Department of Economics, Sambalpur University, Burla-768019 Odisha. Email:
  2. Assistant Professor, P.G Department of Economics, Sambalpur University, Burla-768019 Odisha, Email:

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Financial Constraints and Investment-Internal Fund
Relationship among Indian Firms in Post Sub Prime
Crisis Era

Abdul Rahim Ansari1

Objectives: This study examines the sources of investment financing by listed Indian non-financial firms and the extent of dependency on internally generated funds (cash flow) to finance the undertaken projects since sub-prime mortgage crisis in United States.

Methods: The sample for analysis has been selected from the BSE-500 listed companies and consists a balanced panel of 359 firms operating in different fields and producing a diverse range of goods and services. ‘Augmented Sales Accelerator’ model has been employed and Second Stage Least Squares (2SLS) panel data regression technique has been used to estimate the model for three set of firms and for two different time periods.

Findings: The result demonstrates a wide difference between different categories of firms with respect to sources of investment financing. Internal funds are extremely crucial for all firms in generaland smaller firms in particular and dependency is higher in second period signifying a tightening of market conditions and difficulty in accessing external funds for investment projectsin post U.S. subprime crisis era.The finding is robustto two alternative investment models and for two different time periods.

Application: This study makes use of latest firm data and advanced panel data regression technique to estimate two different models which are expected to present the actual trend of financing patterns of various firm groups and the policy actions required to remove the hurdles in accessing capital market by these firms.

Keywords : Investments, 2SLS, Cash Flow, Panel Data, Sales Accelerator.

JEL Classification: C58, E44, F65, G32.

  1. Assistant Professor, Department of Economics, Hindu College (North Campus), University of Delhi, Delhi 110007, India. E-Mail-,

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Empirical Evidences on the Supply Side Effects of
Monetary Transmission Mechanism in India

N. Kubendran1

This study aims to test the presence of a supply-side channel during the monetary transmission mechanism. The study has applied Structural Vector Autoregression model to analyze the effect of policy rates on major macroeconomic variables like inflation, interest rate and output in India using monthly data from April 2001 to October 2019. From the empirical findings, the study has observed that the prices and output fall as soon as there is a positive monetary policy shock. The study also observed that the supply side effects associated with the cost channel are absent in India due to abundant demand-side effects. Finally, the study has suggested that there is a necessity to remove bottlenecks in aggregate demand using appropriate fiscal policy in tandem with the expansionary monetary policy will boost the GDP growth rate in India.

JEL Classification Code: E31, E43, E51, E52, E58

Keywords: Monetary Policy, Cost Channel, Structural Vector Autoregression, Inflation, Interest Rate.

  1. Assistant Professor, Department of Economics, Pondicherry Central University, India.

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Analysis of Child Disability and Link with Poverty

Soumyendra Kishore Datta1

According to a World Bank Report (2011), more than one billion people or 15% of the world’s population suffer from a miserable life due to affliction of some form of disability. Of these people between 110 to 190 million suffer from significant functional disability. Children are the future backbone of the society. Child health is to a great extent determined by the condition of the maternal physical status at delivery and even by the quality of pre-natal or post-natal care. This paper supports that child disability emerges more from income-poor families than that from income-rich families. Principal component analysis has been applied to calculate the state specific overall disability index. For this analysis, state wise different forms of disabilities data have been collected for the year of 2001 and 2011. In addition, canonical correlation method has been used to explain the interrelationships between the lack of adequate expenditure reflected in poor protection for the health of both mother and child. Suitable strategies are proposed to mitigate this problem by axing at the root spreading from poverty.

Keywords: Child Disability, Principal Component, Cannonical Correlation, Poverty, Goalpost Methods, Per Capita Net State Domestic Product.

  1. Professor, Department of Economics, University of Burdwan, West Bengal, India.

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Factors Affecting Food Consumption Patterns
Across Economic Classes in India:
A Demand System Estimation

R. Ahalya1
Sourabh Bikas Paul2

In this paper, the main research question that has been addressed is concerned with how the demand for different categories of food items is affected by income, prices, and other demographic variables, for different economic classes. The Quadratic Almost Ideal Demand System (QUAIDS) estimation technique is used for the purpose of our study. The results indicate that the share of consumption expenditure across households has shifted from cereals and pulses towards high value food items over the previous two decades. The results show that the middle and upper class households are more responsive to price changes, especially in urban areas. They also indicate that there is greater market segregation across classes in urban areas, and the substitutability between staple and high value food items is higher for middle class and upper class households.

  1. Ph.D, Department of Humanities and Social Sciences, IIT Delhi.
  2. Assistant Professor, Department of Humanities and Social Sciences, IIT Delhi.

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