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Indian Journal of Economics and Financial Issues

Indian Journal of Economics and Financial Issues

Frequency :Bi-Annual

ISSN :2582-5186

Peer Reviewed Journal

Table of Content :-Indian Journal of Economics and Financial Issues , Vol:4, Issue:1, Year:2023

IMPACT OF MICROCREDIT ON FINANCIAL WELL-BEING OF POOR HOUSEHOLDS

BY :   Tarsem Lal and Jatinder Kour
Indian Journal of Economics and Financial Issues , Year: 2023,  Vol.4 (1),  PP.1-11
Received: 28 January 2023  | Revised: 13 February 2023  | Accepted : 20 February 2023  | Publication: 30 June 2023 
Doi No.: https://DOI:10.47509/IJEFI.2023.v04i01.01 

Purpose: The current study aims at assessing the impact of microcredit on financial well-being of poor households. 

Design/methodology/approach: Primary data were collected from 510 microcredit beneficiaries of different microfinance institutions functioning in Jammu region of Union Territory of Jammu and Kashmir. Various multivariate statistical techniques like EFA, CFA and SEM were used for the analysis of data and purification of scale. 

Findings: The finding of the study reveals that microcredit has a direct and significant impact on financial well-being of poor households. Further, it is found that in-spite of various steps taken by the government for improving the financial well-being of poor households; still there is a dissent from the financial institutions to offer various adequate financial services to the poor.

Originality/value: The study provides valuable suggestions for the policy makers to develop and put into practice programmes with the intention of improving the financial well-being of poor households by offering microcredit services.

Limitations: The scope of the study is restricted to Jammu region only due time financial constraints. The data were collected from customers belonging to rural areas only. Third, the possibility of subjectivity in some cases cannot be ruled out.

Keywords: Microcredit, financial well-being, households, EFA, financial institutions.

Tarsem Lal & Jatinder Kour (2023). Impact of Microcredit on Financial Well-Being of Poor Households. Indian Journal of Economics and Financial Issues, Vol. 4, No. 1, pp. 1-11. https://DOI:
10.47509/IJEFI.2022.v04i01.01


ASSESSING THE IMPACT OF SECTORAL INVESTMENT ON BIHAR'S ECONOMIC GROWTH

BY :   Jitendra Kumar Sinha
Indian Journal of Economics and Financial Issues , Year: 2023,  Vol.4 (1),  PP.13-29
Received: 08 March 2023  | Revised: 11 April 2023  | Accepted : 16 April 2023  | Publication: 30 June 2023 
Doi No.: https://DOI:10.47509/IJEFI.2023.v04i01.02 

This study aims to measure the influence of investment in key sectors, namely Agriculture & Allied, Industry, and Services, on Bihar's economic growth. To achieve this, we employ the decomposition methodology introduced by Jalava and Pohjola (2002) by formulating a set of structural relationships and establishing interconnections between the growth of these sectors and the role of investment. Firstly, we examine the stationarity of the variables in these structural relationships using the Augmented Dickey-Fuller test. Next, we estimate the structural relations through Ordinary Least Square (OLS) analysis to investigate the specific contribution of investment in the Agriculture & Allied sector to the overall economic growth rate. Finally, we explore alternate simulation scenarios that support the promotion of public sector investment in the Agriculture & Allied sector. Through this comprehensive analysis, we aim to provide valuable insights into the importance of investing in this sector for Bihar's sustainable economic development.

Keywords: Growth; Inter–sector Linkages; Stationarity of variables; Augmented Dicky – Fuller test; Augmentation of public investment; Agriculture & Allied sector.

JEL  CLASSIFICATION: E22, E23, E27, H54.

Jitendra Kumar Sinha (2023). Assessing the Impact of Sectoral Investment on Bihar’s Economic Growth. Indian Journal of Economics and Financial Issues, Vol.
4, No. 1, pp. 13-29. https://DOI:
10.47509/IJEFI.2022.v04i01.02


ASSESSING THE WILLINGNESS TO PAY FOR CLEAN AIR: ANALYSIS OF INDIAN POPULATION

BY :   Priti Mendiratta Arora , Astha Mukherjee and Medhawi Rajgaria
Indian Journal of Economics and Financial Issues , Year: 2023,  Vol.4 (1),  PP.31-50
Received: 18 March 2023  | Revised: 21 April 2023  | Accepted : 29 April 2023  | Publication: 30 June 2023 
Doi No.: https://DOI:10.47509/IJEFI.2023.v04i01.03 

The paper studies the value that people put on the resource of clean air and their willingness to pay (WTP) for the same, while also analyzing the potential influence of certain socio-demographic factors upon people's spending choices in this regard. The study is conducted via the collection of cross-sectional primary data from different parts of India. The Contingent Valuation Method is used to evaluate the willingness to pay, and the econometric tool of multiple regression is applied to analyze the data. Further, the cardinal voting system is used to find the preferences of people regarding the reasons behind their WTP for clean air, among various options like prevention of mortality, morbidity, ecosystem damage, visibility loss, and material damage. The average willingness to pay across the sample was found to be around Rs.1581 per month. Factors like health status, air quality, residence type, income level, and age are significant determinants of WTP. The study provides a direction in understanding common people’s viewpoint towards this environmental problem.

Keywords: Willingness to pay, Air pollution, Contingent Valuation method, Value of clean air, Cardinal Voting System

Priti Mendiratta Arora, Astha Mukherjee & Medhawi Rajgaria (2023). Assessing the Willingness to Pay for Clean Air: Analysis of Indian Population. Indian Journal
of Economics and Financial Issues, Vol. 4, No. 1, pp. 31-50. https://
DOI: 10.47509/
IJEFI.2022.v04i01.03


INTERNATIONAL MIXED TRIOPOLY, PRIVATIZATION AND SUBSIDIZATION: Complementary Goods

BY :   Kazuhiro Ohnishi
Indian Journal of Economics and Financial Issues , Year: 2023,  Vol.4 (1),  PP.51-58
Received: 30 March 2023  | Revised: 25 April 2023  | Accepted : 05 May 2023  | Publication: 30 June 2023 
Doi No.: https://DOI:10.47509/IJEFI.2023.v04i01.04 

This paper examines the effects of production subsidies regarding privatization in an international mixed market where one state-owned firm coexists with domestic private and foreign private firms. The firms produce complementary goods. The paper considers four games: unsubsidized international mixed triopoly, subsidized international mixed triopoly, unsubsidized international private triopoly, and subsidized international private triopoly. The first two games are international mixed triopoly games in which a state-owned public firm, a domestic private firm and a foreign private firm coexist with each other, and the second two games are international private triopoly games in which the state-owned public firm is privatized. This paper demonstrates that if optimal production subsidies are used before and after privatization in an international mixed market with complementary goods, then privatization decreases domestic social welfare.

Keywords: Complementary goods; International mixed triopoly; Privatization; Subsidy

JEL classification: C72; D21; F23; L32

Kazuhiro Ohnishi (2023). International Mixed Triopoly, Privatization and Subsidization: Complementary Goods. Indian Journal of Economics and Financial Issues, Vol. 4, No. 1, pp. 51-58. https://DOI: 10.47509/
IJEFI.2022.v04i01.04


INDIA'S RECENT INITITATIVES ON ENTREPRENEURIAL SKILLING AND IMPROVING POTENTIAL OF EPLOYABILITY OF RURAL YOUTH

BY :   R.Aruna Jayamani
Indian Journal of Economics and Financial Issues , Year: 2023,  Vol.4 (1),  PP.59-68
Received: 12 April 2023  | Revised: 16 May 2023  | Accepted : 26 May 2023  | Publication: 30 June 2023 
Doi No.: https://DOI:10.47509/IJEFI.2023.v04i01.05 

This paper has attempted review various policies related to youth development and entrepreneurial development initiatives taken by the government of India. It also discusses institutional arrangements available for capacity building of rural youth and various financial supporting schemes for on-starting of self employment activities to support self earning for unemployed young population in India. It is well known that, Entrepreneurs shape a country's economic destiny by transforming people's lifestyles, altering growth and development paths and prompting inventions that redraw economic contours and bring revolution. The National Youth Policy and National Skill Policy in India makes adequate path to various government institutions effectively involve in guiding, capacity building and supporting financial aid to promote and utilise youth energy for country’s economic development. The importance of existing schemes for entrepreneurship development need to reached the needy poor rural youth for their livelihood strengthening. The institutions like RUDSETI and RSETI are playing very important role in building skills of unemployed rural youth but still long way to go reach the entire target group of rural youth. This paper has put sufficient effort to analyse the issues of unemployment, problems in existing policies and institutional performance of the skilling institutions exist in India. It attempted with the aim of disseminating information on the policy, schemes and training programmes for entrepreneurship. It is a secondary data based review will helpful for rural youth seeking for skills and intended for self employment.

KeyWords: Entrepreneurship, Skilling, Youth,  Employability .  

R. Aruna Jayamani (2023). India’s Recent Initiatives on Entrepreneurial Skilling and Improving Potential of Employability of Rural Youth. Indian Journal of Economics and Financial Issues, Vol. 4, No. 1, pp.
59-68. https://DOI: 10.47509/
IJEFI.2022.v04i01.05


RELATIONSHIP BETWEEN RECEIVABLE MANAGEMENT AND PROFITABILITY: A study of Pharmaceutical Industry in India

BY :   Gautam Das
Indian Journal of Economics and Financial Issues , Year: 2023,  Vol.4 (1),  PP.69-83
Received: 11 May 2023  | Revised: 28 May 2023  | Accepted : 12 June 2023  | Publication: 30 June 2023 
Doi No.: https://DOI:10.47509/IJEFI.2023.v04i01.06 

India earned a unique place in the world of pharmaceutical industry and is currently ranked 3rd in the world in terms of pharmaceuticals production and is regarded as the pharmacy of the world. India is the largest supplier of low-cost vaccine, generic drugs as it offers the combination of low and affordable pricing with high quality. The present study endeavours to examine the relationship between receivable management and profitabilityin the Pharmaceutical industry in India during 2013 to 2022 by employing suitable working capital and profitability ratio. The present study makes a humble attempt to assess the financial performance with respect to some financial indicators based on the published secondary data retrieved from Prowess, CMIE database. The study finds significant relationship between profitability and liquidity with respect to certain variable. We have employed panel regression analysis specifically, to address the issue of performance of Pharma industry in general. Using systematic sampling technique, we have chosen 24 pharmaceutical companies in the final selection. We have employed eight independent variables, which have a nexus with profitability and liquidity. We have used three profitability ratio such as NPM, ROCE and ROA as dependent variable. 

Keyword: Pharma Company, Profitability, Liquidity, Receivable Management 

Gautam Das (2023). Relationship between Receivable Management and Profitability: A Study of Pharmaceutical Industry in India. Indian Journal of Economics and Financial Issues, Vol. 4, No. 1, pp. 69-83. https://DOI: 10.47509/
IJEFI.2022.v04i01.06


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