Impact on Indian Economy - 787 Words

Impact of Recession on Indian Economy Changes in Consumer Behaviour due to Recession Introduction- Almost everybody today seems to be discussing about the US Recessionary trend and its impact on emerging countries, more particularly India Economists, Industrialists and the common man on the streets seem to have been horrified by the very thought of recession in India and that too due to US. Decreasing industrial production, inflation, decreasing job opportunities, cost cutting, reducing purchasing power parity, et al are the aspects discussed among them through every possible mode like articles, talks walks and places like washrooms, canteens, etc But to me the reality is very different! Yes...... India will not be†¦show more content†¦Reduced industrial output 3. Reduced job opportunities 4. Stock Market is lingering in the bottom 5. Real estate market has started to take a beating 6. Inflation has increased 7. GDP has come down and the GPD forecast for the next two quarters are only average. 8. Change in consumer behaviors and purchasing power. Indian economy faces slowdown not recession India is a different economy and known as one of the most promising economies in terms of growth and investment. India, with $1.1 trillion or the second largest GDP among the world s developing economies is treading on the right path of sustained progress and development. While most Western economies are heading toward recession, the Indian GDP growth is likely to witness a slowdown from 9 percent last year to 6.5 to 7.5 percent by the year-end. The Indian economy is immune to the global mortgage crisis, failures of banks in the West and liquidity crisis. Indian economy is based on robust fundamentals and enjoys the status of one of the most dynamic and growing economies in the world with over 9 percent GDP last year. India itself is a biggest consumer market with 300 million of middle class and the lowest debt ratio of 22 percent of the GNP. The country enjoys the highest savings rate of 28 percent of the GDP. Change in consumer behaviors due to recession in India. Today s recession has affected all over the world. Due to the economic slowdown many companiesShow MoreRelatedImpact of Globalization on Indian Economy1572 Words   |  7 PagesGlobalization is the new notion that has come to rule the world since the nineties of the last century with the end of the cold war. The frontlines of the state with increased reliance on the market economy and renewed belief in the private capital and assets, a process of structural alteration encouraged by the studies and influences of the World Bank and other International organisations have started in many of countries. Also Globalisation has brought in new avenues to developing countries. GreaterRead MoreImpact of Tourism on Indian Economy1649 Words   |  7 PagesMarket Survey By: Dr C. VETHIrAJAN IMPACT OF TOURISM ON INDIAN ECONOMY Tourism can generate maximum employment opportunity because of a large number of subsidiary industries. September 2008 and a 3.3 per cent growth in passenger traffic through September. The negative trend intensified during 2009, exacerbated in some countries due to the outbreak of the AH1N1 influenza virus, resulting in a worldwide decline of 4 per cent in 2009 to 880 million international tourist arrivals, and an estimatedRead MoreThe Impact Of Demonetization On Indian Economy1165 Words   |  5 PagesThe present paper focuses on studying the impact of demonetization on Indian Economy. This wok concentrates on highlighting the advantages and disadvantages of the move by the government . This paper tries to explore the negative and positive aspects of recent demonetization of Indian Economy. 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Combatting Institutionalized Racism - 1534 Words

When examining the timeline of slavery in the United States of America, it can seem like a distant problem. The 13th the social implications of this act still echo in our society today. It is hard to believe that it was less than a century ago – barely even fifty years – that the events detailed in Freedom Riders took place, that the actors in this major direct action movement are still alive to tell their stories. It is the goal of this paper to describe what took place across the southern United States in this time period, and to examine some of the ways in which systemic, institutionalized racism still taints society today. Hopefully, this understanding will yield some indications of how we can all move forward in terms of race relations and greater equality for all human beings represented by our government. Racism is, at its core, a societal issue. Simply enacting legislation to combat the problem does nothing to affect the attitudes of the individuals who perpetuate it. This is why direct action campaigns, like the Freedom Rides sponsored largely by the Congress of Racial Equality (CORE), are so important for advancing social change. The participants believed that they could use nonviolent, highly visible tactics to promote their agenda of racial integration, particularly across the south, where power had been particularly consolidated in a white, male, heavily amendment was passed in 1865, ostensibly abolishing slavery, yet bigotedShow MoreRelatedThe End Of The Civil Rights Act973 Words   |  4 Pageshigh rates of suicide and homelessness because many prisons offer limited or no programs to attempt to help convicts with reentry into society. Mandatory minimum sentencing laws have incarcerated people for extended times causing them to become institutionalized. According to the U.S. Department of Health Human Services, â€Å"The term institutionalization is used to describe the process by which inmates are shaped and transformed by the institutional environments in which they live† it also â€Å" involvesRead MoreThe Bombing Of Radical Violence1059 Words   |  5 Pagesand wealth. This in turn created the institutionalized racism between colonial associates and natives After the Belgian government took control of the Congo Free State, economically they did considerably well, but the social issues involving racism continued to grow until Congo received independence. Congo exercised stark resistance of the Belgian-Congo’s imbalance of racial autonomy. Revolts, looting, and destruction of European property took place combatting the lack of equality. Local leadersRead MoreAffirmative Action Is The Current Method For Combating Systematic Racism1602 Words   |  7 PagesAffirmative action is the current method for combatting the systematic racism and general bigotry that has long plagued American society. It is a source of much debate, both from the legal and moral perspectives. When it comes to higher education, it has been the subject of serval Supreme court decisions and many philosophical papers. Affirmative action’s stance makes a statement about how American society intends to handle its problems of bigotry; if it wants to ignore them, or if it wants to chooseRead MoreEthnocentric Education1811 Words   |  7 Pagesculture i.e. demanding that ethnic minorities had better adapt to the cultural mainstream, (Determinants of ethnocentric attitudes in the United States, n.d., p. 3). Therefore, multiculturalism has begun to permeate Canadian pedagogy as a means of combatting the myth of universalism in education. The term ethnocentric education is a paradoxical one: because ethnocentric education offers an antidote to what has essentially been ethnocentric education on the part of European-American values, norms,Read MorePolice Brutality And The Racism It Fosters Essay1710 Words   |  7 PagesPolice Brutality and the Racism It Fosters A controversial topic for decades, one issue that has made a noticeable impact in modern day society, especially in the year of 2015, is that of police brutality. Stemming from deep-rooted and institutionalized racism within law enforcement and other surrounding fields, it has sparked a firestorm of opposition, with many American citizens up in arms over the target that’s been seemingly casted on the backs of the black community. Despite the various protocolsRead MoreVisual Arts : The Most Accessible Politically Charged Art Form For United States Citizens1642 Words   |  7 Pagesassociated party of that presidential administration. Moreover, a movie done on the assassination of Martin Luther King Jr. and President John F. Kennedy would remind people the negative effects of the Jim Crow era and the importance of combatting institutionalized racism. This is because many people tend to associate the leaders actions with the parties that they support, as noted in Projecting P olitics. Politicians then have the ability to utilize the film as a reference for future campaign attempts

Employee and Independent Contractor †Free Samples to Students

Question: Discuss about the Employee and Independent Contractor. Answer: Introduction: Generally, employers take shield of contracts by stating that person is appointed as independent contractor and has no rights as employees under employment law. This report states, issues related to contracts which states that that person is considered as employment law. It also states, issues related to current restraint clause. Subsequently, this paper is concluded with brief conclusion. The fundamental differences between the employee and independent contractor are stated below: Employee enters into contract of service and independent contract for services. Control is accessed by employer over the employee, but in case of independent contractor employer does not access any control over independent contractor. In case of employee, employer is vicariously liable for the acts of employees. In other words, independent contractor performs an agreed task for an agreed price and employer does not control the working hours of the employee and how such work is carried on by independent contractor. Generally, employer considered person as independent contractor for the purpose of avoiding federal and state legal requirements. However, if characteristics of employment of person are resemble from employee then such person is considered as employee and not independent contractor. Numbers of tests are determined by common law for the purpose of determining the status of person as employee or independent contractor and these tests are stated below: In case Zuijs v Wirth Bros, Court determine the control test and state that if employer access control over the person then such person is considered as employee, and control is determined through significant relationship shared by them. Other test is integration test which determine the degree of integration worker accessed in the employment such whether worker wears uniform provided by employer or not. The most important and last test is multiple indicia test, and this test was introduced in case Stevens v Broadribb Sawmilling Co Pty Ltd, and this test was later confirmed in Hollis v Vabu Pty Limited in Australia. This test consider all the essential circumstances of the employment for the purpose of determining the status: FACTOR INDEPENDENT CONTRACTOR EMPLOYEE Equipment and tools If not supplied by employer If supplied by employer. integration Not integrated in the business such as does not wears uniform, and use vehicle. Integrated in the business such as wears uniform, use vehicle. Tax arrangements Person themselves mange the tax compliance Employer manages the tax compliance. Entitlements and allowances Does not provide any entitlement and allowances. Provide any entitlement and allowances. Working hours Specified task Indefinite period Remuneration Lump sum wages Delegation of work Employer does not delegate Employer provides directions and instructions (CPA, n.d.). In the present case, Fred work as tutor in training organization and his working hours are decided by organization. Fred gets remuneration fortnightly which means for work he undertook for the previous fortnight. He also uses the equipments provided by employer, and the most important employer directs the Fred how to work. After considering all these factors it can be considered that Fred is employee of the organization and not independent contractor. Restraint clause: Generally, restraint clauses are used by employers under employment contract for the purpose of protecting the interest of their business after employee resigns from their company. These clauses are usually included in the employment contracts of professionals and senior/manager employees. The most common restraint clause is prevention of departing employee from working in the business of competitor for any specified period. Some other restrictions are also included such as not dealing with the clients of former employers and not use any confidential information of previous employer. Court will upheld these clauses only if these clauses are reasonable in nature. This can be understood through example; Court will never enforce any such clause which interferes in the rights of worker to contribute their own labor. In case law Buckley v Tutty (1971) 125 CLR 353 at 380, High Court stated that unreasonable restraints are not enforceable if such clauses are contrary to the welfare of the public and prevent any person from earning a living from lawful resources. While assessing the reasonableness of restraint clause, Court considers various factors such as area in which these clauses are applied, activities of the employee, control assessed by employer, etc. Court has power to cancel the restraint clause if they find the clause unreasonable (Jewell, n.d.). In the present case, clause preventing the Fred to work in for a competitor training organization for the period of 12 months of completing his work at the existing training organization. This clause is invalid because clauses are not enforceable if such clauses are contrary to the welfare of the public and prevent any person from earning a living from lawful resources. Therefore, this clause in employment contract is not valid. Conclusion: After considering all above facts it is clear that Fred is considered as employee of the training institution because all the factors of employment states that Fred is the employee of the organization. Other issue is related to restraint clause which prevents the Fred to earn his living resources through legal way. However, this restraint clause is not reasonable in nature considered as invalid clause. References: CPA. Employee or Contractor. Viewed at: https://www.cpaaustralia.com.au/~/media/corporate/allfiles/document/professional-resources/practice-management/employee-versus-contractor-factsheet.pdf?la=en. Accessed on 1st October 2017. Zuijs v Wirth Brothers Pty Ltd - [1955] HCA 73. Buckley v Tutty (1971) 125 CLR 353 at 380. Stevens v Brodribb Sawmilling Company Pty Ltd - [1986] HCA 1. Hollis v Vabu Pty Ltd [2001] HCA 44. Jewell, I. Restraints of trade: non-compete clauses, are they reasonable. Viewed at: https://insightsresources.seek.com.au/restraints-trade-non-compete-clauses-reasonable. Accessed on 1st October 2017.

The Relation of the Ecosystem Services with Business

Introduction The understanding of an ecosystem is of paramount importance, more so in the process of defining the inter-linkages that exist between businesses and nature. This paper traces its foundation from the definitions that have been attributed to the phrase â€Å"ecosystem services.†Advertising We will write a custom essay sample on The Relation of the Ecosystem Services with Business specifically for you for only $16.05 $11/page Learn More It is from this definition that the study will take off in demystifying the interrelation that exists between the forest industry and businesses. It is of essence that the study identifies the benefits that businesses’ derive from the ecosystem. Consequently, this will set the base from which the reader will identify the effects that the removal of the ecosystem services will have on the business environment. Definition of ecosystem services The human race is surrounded by communities of animals i n their living habitats and plants all round. It is from this surrounding that the continuity of the human race is sustained. These resources that are supplied by nature benefit humans and some are the concrete bases of some of the world’s leading economies. For instance, the middle-east countries such as Kuwait are fully dependent on crude oil as the major contributor of the country’s gross domestic product. These benefits that humans reap from ecosystem are referred to as ecosystem services (Hester Harrison, 2010). The constituents of the ecosystem include the physical and the chemical elements for example; water, soil, nutrients that are assimilated in the bodies of the animals among other elements. It should be noted that this constituents are either large or microscopic elements that exist naturally. Dependence of the Corporate World on the Ecosystem Services According to Esty Winston (2009), all corporates in the planet regardless of their area of operation dep end on biodiversity that is presented by the world’s ecosystems and on ecosystem services. For instance, fresh water is a very crucial input product in almost all the conceivable processes of manufacturing well as service industries. One direct link of ecosystem services and businesses can be found in the pharmaceutical industries that benefits from plant products such as the neem plant among other plants that are used in the manufacture of drugs, the agribusiness industry that depends on insects to aid in the pollination of flowers, bio-pest control among many others.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It is evident that organizations depend directly or indirectly on the ecosystem services. This dependency always takes a two-fold relationship. One is the direct dependency of the organization in undertaking the core operations and the indirect dependency of corporates on ecosystem services in supply chains and in the investment choices of the organization (Esty Winston, 2009). In order to ensure that the study does not digress a lot on the inter-dependence that exists between the ecosystem services and the corporate world, the study will concentrate on the dependency of the forest, construction and publishing industries on the ecosystem services that these industries are provided with by the ecosystem. Forests are important resources in the world as they provide invaluable economic, environment and social benefits. It is evident that forests act as a buffer to global warming that has jeopardized the livelihoods of many people (Bond Wertz-Kanounnikoff, 2009).These are a few of the social benefits that are reaped from forest resources. It should be noted that a good number of the world businesses depend solely on forest products such as timber, medicinal products among others. It is evident that every year the forest industry contributes over $186 billion in the world’s economy. This money is derived only from the primary products of the forests. This means that the forest industry is a key source of revenue for many businesses (Nemetz, 2002). All businesses in the planet directly or indirectly depend on forests and the dependency comes in terms of furniture, papers and to others the forest products are their raw materials. For example, truck drivers who are mandated to carrying logs are directly dependent on the products from the forests. The trucks that are used in the transportation are specifically designed to transport logs and therefore, the manufacturers of these trucks depend indirectly on the forest industry. This is because the eradication of forests would mean that these truck manufacturers would have to close the log-haul aging facet of their industry. Other stakeholders who depend directly on forest industry are paper manufacturers and timber dependent industries such as the carpentry. Paper manufacturers depend on trees which are turned into papers that are used in the everyday running of the offices.Advertising We will write a custom essay sample on The Relation of the Ecosystem Services with Business specifically for you for only $16.05 $11/page Learn More This gives rise to the dual dependence of the corporate world on the forest industry such that the paper manufacturers depend directly on the trees to manufacture papers and other industries use the papers that are manufactured from trees. Therefore, in case these forests are eradicated both the manufacturers and the end users would adversely be affected (Bond Wertz-Kanounnikoff, 2009). The effective and efficient running of the forest industry incorporates four relevant stakeholders. These stakeholders have either a direct or an indirect link to the industry. First, is the phenomenon growth in the forest industry. These are the businesses that are involved with growing and management of forests re sources. These businesses are mandated with ensuring that forest plantations are developed. Secondly, is the forest industry service provision sector. Services that are provided in the forest industry are of specialized manner. They include businesses that are involved with the harvesting of the forest products; those involved in the haulage of the products such as trucks drivers, the silvicultural activity officers, and the nurseries among others. Thirdly, are businesses involved in the processing of the forest products. This sector is involved in the transformation of the forest raw materials into finished products after undergoing a number of processes that are meant to change the initial form of the product. For instance; logs into rough timber that is then transformed into wood chips and then pulp. The last stage of the forestry industry is the transformation of the forest products into finished products that are now ready for use by the end user. It involves businesses like ca rpentry which transforms the timber into furniture and pulp into paper. The world requires furniture and all these products are made from timber a direct product of the forest industry. All people who are involved with the manufacture of timber products have a direct link to the forest. This proves that businesses and ecosystems are intertwined and each depends on the other for continued existence (Nemetz, 2002). Shortcoming of Eliminating the Ecosystem Services to the Business World The removal of the forest industry would have dire consequences to the businesses world. For instance, in 2007 losses that were incurred due to deforestation alone amounted to more than $4.5 trillion and this amount is expected to escalate over the years.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More These losses will be incurred if the businesses would be fatal as industrialization in the globe has taken a toll over forests which are the vital sources of renewable and non-renewable factory inputs (Organization for Economic Co-operation and Development, 2011). Conclusion It is evident that ecosystem services are fundamental in the lives of corporate in the world as the study has sort to illustrate the dependence that exists between corporate world and the forest world. Therefore, it is paramount that corporate come up with measures that are meant to put priorities right in valuation of how dependent corporate are on the forest industry and as a result, take the leading role of ensuring that the forests are not degraded as a result of human activities. References Bond, I.,G., M. Wertz-Kanounnikoff, S. (2009).Incentives to sustain forest ecosystem services. New York: Cage Esty ,D. Winston, H., S. (2009).Green to Gold. New York: Yale University Press. Hester, R.,E. Harrison, R., M. (2010). Ecosystem services.Upper Saddle River: Cengage. Nemetz ,P., N.(2002). Bringing business on board: sustainable development and the B-school curriculum. Journal of Business Administration Series.. 27(29). Organization for Economic Co-operation and Development. (2011). Paying for Biodiversity: Enhancing the Cost-Effectiveness of Payments for Ecosystem Services .New York: OECD Publishing This essay on The Relation of the Ecosystem Services with Business was written and submitted by user Juan Sutton to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.