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1 The Nightingale – April 2014 Issue Volume Two – A Quarterly Magazine of TKT College

333

APRIL 2014 ISSUE

DR. TK TOPE ARTS & COMMERCE

COLLEGE, PAREL, MUMBAI

The Nightingale is a

Quarterly Online magazine

for the students and faculty

of Dr. TK Tope Arts &

Commerce College, Parel,

Mumbai—12.

TKT’s online magazine.

The Nightingale


CONTENTS

SECTION P.NO.

EDITORIAL

1. THE MANAGING EDITOR’S

NOTE.

07

2. THE EXECUTIVE EDITOR

SPEAKS.

08

POLITICAL ECONOMY

1. ‘Verdict 2014’ by Krishnan Nandela, Associate Professor and

Head, Department of Economics.

10

2.

‘Democracy and the Genealogy

of Voting Rights’ by Deepak

Dhanu, SYBA.

14


3. Price Level in India by Krishnan.

16

4.

‘Quotable Quotes’ by Principal

VB Rokade

22

5. वळचारधारा – स्नेषा ऩाटीऱ , टी.ळाय.बी.ए..

26

POEMS

1.

ननशगग आणी मी – ऩरम नतगड,े टी.ळाय.बी.ए

29

2.

‘तू’ – स्नेशा ऩाटीर – टी.लाम.फी.ए.

31


3. इन्ततजाय - कृष्णन.

32

4. चारोली – स्नेषा ऩाटीऱ – टी.ळाय.बी.ए.

34

5. लो शै जया खपा खपा! - कृष्णन.

35

REPORTS

1. Sports Report for 2013-14 by

Nagesh Suryawanshi.

38

2.

Extension Work Report for

2013-14 by Nagesh Suryawanshi.

40

3. NSS Report for 2013-14 by

Dnyaneshwar Jambhule.

41

VISITORS


1.

EMINENT VISITORS TO THE COLLEGE BY

KRISHNAN.

44

2.

FOREIGN VISITORS BY KRISHNAN.

51

Marketing.

1. Rural Marketing – Challenges and

Opportunities in India by PRAKASH

SAWANT.

57

ACCOUNTANCY

1. COUNTING BY PANKAJ PANDAGLE.

64

THE EDITORIAL TEAM

PRINCIPAL VB ROKADE,

MANAGING EDITOR

MR. KRISHNAN NANDELA, ASSOCIATE

PROFESSOR, EXECUTIVE EDITOR


THE MANAGING EDITOR‟S EDITORIAL

The inaugural issue of „The Nightingale‟ our online magazine was launched in the month of

January, 2014. The second quarter issue for April 2014 went under ink and pen immediately

after the first issue. It gives me great pleasure to know that the effort to bring out new issues of

the magazine is an ongoing effort and I am sure that the magazine will one day see the light of

the day.

The online magazine is the brainchild of Mr. Krishnan Nandela, IQAC Coordinator and Head,

Department of Economics. The second issue for April 2014 has turned out to be exceedingly

good in terms of content, color and design. The magazine has been enriched by contributions

made by both students and faculty.

I call upon one and all to wholeheartedly contribute their mental energy to the making of our

magazine so that every new issue launched becomes a benchmark in itself and the magazine

progresses both in quality and content quarter after quarter and year after year.

Principal VB Rokade,

Managing Editor.


THE EXECUTIVE EDITOR SPEAKS

It gives me great pleasure to continue to pen the editorial page of the April 2014 issue of our online

magazine „The Nightingale‟. The nightingale is a bird found in the Europe and Americas. It has a

melodious voice and sings more beautifully in the night. Being a night college, the title of the

magazine appears to be eponymous. The Nightingale is going to be a quarterly magazine. This is

our second issue since the launch of inaugural issue in the month of January, 2014.

The Nightingale is divided into six sections. Section one deal with the political economy of the

country and will have articles on current political and economic interest. Two of our students have

submitted exceptionally good articles. Mr. Deepak Dhanu from SYBA has written a good article on

the genealogy of voting rights. Miss. Sneha Patil from TYBA has written an article on ideologies.

The executive editor has contributed an article titled “Verdict 2014” and “Price Level in India”.

Principal VB Rokade has written on „Quotable Quotes‟. Section two consists of poems in Hindi,

Marathi and English languages. This section begins with a Marathi poem titled „Nisarg aanee Me‟.

It is followed by two poems penned by Miss. Sneha Patil: one titled „Tu‟ and the other being four-

liner (charoli). The executive editor has written two poems. The first one is titled “Vo Hai Zara

Khafa Khafa” and the other being “Intezar”. Section three deals with reports on various activities

in the college. Section four is especially dealing with visitors to the college and what they had to say

about the college. Here we have two articles; one titled „Eminent Visitors to the College‟ and the

other being „Foreign Visitors. Both these articles have been written by the executive editor.

Section five is on Marketing Management. A research paper titled „Rural Marketing in India –

Challenges and Opportunities‟ by Mr. Prakash Sawant, Assistant Professor (Commerce) appears in

the Marketing Management section. Section six deals with accountancy and here we have an article

by Mr. Pankaj Pandagle titled „Counting‟.

The different sections in the magazine are tentative and will change according to the nature of

articles received from time to time. We hope the online magazine will inspire our students and

faculty and more and more students and faculty will contribute to this nascent endeavor.

Mr. Krishnan Nandela

Associate Professor & Head, Dept of Economics

Executive Editor – Nightingale.


THE POLITICAL ECONOMY


OUT OF THE BOX POLITICAL ANALYSIS

VERDICT 2014 AND THE NEXT QUINQUENIUM THE DECLINE OF UPA AND THE ASPIRING NDA. The United Progressive Alliance (UPA) ruled the country for the last decade with the Indian National Congress at the helm of political affairs in the country. The decade long rule is divided into UPA 1 and UPA 2 because in the 2009 Parliamentary Elections the UPA was voted back to power. While the UPA 1 stood for hope and fulfillment of hope, UPA 2 clearly stood for despair. The UPA 2 government was stranded and strangulated to inactivity by a series of corruption scandals. Putrefaction was within and efforts were made to clean the soil but the stink of corruption continued to suffocate the people in the country. Chatter boxes in the country consisting of the print media, the electronic media and the social media left no stone unturned to inform, educate and expose the rot set within the UPA 2 government. The NDA saw an opportunity in the declining fortunes of the UPA and also raised its ante to such a feverish pitch that the UPA 2 was now conveniently known in the country as a cesspool of corrupt politicians. The Delhi Assembly elections in late 2013 signaled and stamped the sunset of UPA. The Kejriwal phenomena generated huge amount of hope amongst a desperate electorate both in Delhi and across the country. The minority government of Arvind Kejriwal could not sustain beyond a point and that the government would not sustain was a well known fact. The exit of the Kejriwal government was known even before the baby was born. The mode

http://indiaelectioninfo.blogspot.in/


of abortion, however, was not politically sound and when the Kejriwal Government actually exited, the Aam Admi Party received a lot of flak from their political opponents including the Indian National Congress. The untimely exit of the AAP government also took away some of the sheen from the nascent political outfit and in the process lost of political popularity in the country. The success of AAP in Delhi was at the expense of the UPA and the NDA. The declining fortunes of the UPA should not therefore be a cause of rejoicing for the NDA at least in Delhi and to a certain extent across the country. PRE-POLL SURVEY PREDICTIONS. Before every election, particularly the assembly and the parliamentary elections, the electorate in India is also exposed to the poll survey results. Two big Pollsters namely the NDTV and the Lokniti-IBN have predicted more or less a similar outcome as revealed in their predictions given in the following two tables.


Lokniti-IBN Tracker Survey, February 2014 (National Picture)

Range

BJP+ BJP+Shiv sena+Akali Dal+LJP 212-232

INC+ INC+NCP+Kerala Allies+JMM+NC+RJD 119-139

TMC 20-28

Left Front 1-23

ADMK 14-20

YRSC 11-17

SP 11-17

BJD 10-16

TDP 10-16

DMK 10-16

BSP 8-14

TRS 4-8

JDS 4-8

JDU 1-5

AAP 1-5

For BJP and Congress

BJP 193 -213

Congress 94-110

Note: Seat projections by Prof. Rajeeva Kharandikar, Director, Chennai Mathematical Institute, Chennai.


POLL SURVEY ANALYSIS OF NDTV AND LOKNITI-IBN. The NDTV survey gives the NDA 230 seats whereas the UPA gets only 130 seats. The Lokniti IBN poll survey has more or less given the same number of seats to both the alliances. Accordingly, the NDA gets 212 to 232 seats and the UPA gets about 119 to 139 seats. The leading poll surveys therefore give more or less the same number of seats. THE UPA WILL DEFINITELY LOSE BUT THE NDA WILL NEITHER WIN. There is no reason why the NDA should go gung-ho over the poll survey and the possible outcome. Even if the outcome were to imitate the poll survey results, the NDA would be struggling to make it to the simple majority mark of 272. Between 230 and 272, there is a huge gap and filling up the gap would make a huge hole in the NDA in general and the BJP in particular. Acquiring 40 + MPs mean almost adding 20 % to its tally which is definitely asking for the moon given the fractured polity that we have in the country during the current times. THE THIRD FRONT LED BY MAYA-MAMATA-JAYA. The other possible outcome appears to be more likely given the poll predictions. It may appear to be farfetched. However, everything is possible in love and war and the elections in India today are no less of a war. Minus 230 from the 544 Lok Sabha seats, we get 314 seats. The hotchpotch of 314 with the UPA sitting outside and supporting the hotchpotch appears to be a more practical outcome given the polar positions of the NDA and the UPA. The AIDMK led by Miss. Jayalalitha and the TMC led by Miss. Mamata Banerjee together have a share of 60 seats in the hotchpotch and that is roughly one third of the hotchpotch. Adding 16 from Miss. Mayawati’s BSP, the Maya-Mamata-Jaya combine cobbles up 75 Lok Sabha seats. Assuming the UPA sits outside and allows the hotchpotch to stake the claim (314 – 130 = 184), there is no compelling reason to believe that the 184 will not stake claim and make way for one amongst the big three to don the prime ministerial mantle. After all, all the three ladies are known for harboring prime ministerial ambitions. The 184 in all probability will be the third front with the UPA doing all the backseat driving and leaving the NDA to suck its thumb for the next five years.

KRISHNAN NANDELA ASSOCIATE PROFESSOR & HEAD, DEPT OF ECONOMICS


DEMOCRACY AND THE GENEALOGY OF VOTING RIGHTS

Gareeb ki thali me jab pulao aaya, samaz jaao desh mein chunao aaya!

Friends, elections are going to take place in the whole country in the month of April 2014. From

this a question must be arising in your mind as to when the system of elections started. The

answer is in Greek. According to the Constitution of Sparta, there were 28 members senate and 5

other members were elected from the judiciary. In the 7th century BCE, in Athens there was a

selection of Arkans to run the country at once for a year.

But long ago there was no system of secret voting as it is the case in the present times. In ancient

Greece and in Roman counties, meetings were conducted to discuss various issues and voting

was done by raising hands. The elections were thus open. Some decisions were taken on the

basis of voice vote. Only in some situations, secret voting was resorted. In case of secret ballot,

some symbolical pearl or wooden piece was used.

Until the dawn of 16th

century, the system of election was used for local elections only. In the

middle ages, election system was used mainly in church. In the Roman Catholic Church and in

other Churches the system was continued.

In England the history of election is connected with the English Parliament. In Europe, in the

19th

century, the workers got their rights because of some organizations and political parties.

Women got their rights because of the efforts of made by women‟s established organizations.

But in South America because of the amendment in the 15th

Constitution, voting rights of the

Negros were withdrawn. Because of the pressure exerted by human rights organizations, voting


rights were given. In the beginning voting rights were given only to upper class people. Only

financially sound citizens enjoyed the right to vote.

Before World War One, only in some countries women enjoyed the right to vote. After the First

World War, women were successful in entering almost all the sectors of the national economy

and the decline of male dominance began. . Between 1918 and 1920, countries like Belgium,

Netherland, Germany. Poland, Canada, America, Russia gave voting rights to women. But in

England, women above 30 years got the right to vote. Only in the year 1928, the age was

lowered to 21. The women of countries like France, Italy and Japan got the voting rights after the

Second World War. The women of South America had to wait for a long period of time to get

the right to vote. In Germany the right to vote concept was cleared after the Weimar

Constitution.

Deepak Dhanu, SYBA.


PRICE LEVEL IN INDIA (1981-82 TO 2013-14)

CAUSES AND EFFECTIVENESS OF CONTROLLING MEASURES.

By Krishnan Nandela, Associate Professor & Head, Department of Economics, Dr. TK

Tope Arts & Commerce College, Parel, Mumbai – 12.

___________________________________________________________________________

MEANING OF INFLATION.

A sustained rise in the general price level over a period of time is known as inflation. Inflation is

measured in terms of a price index. For instance in India, we have the wholesale price index

(WPI) and the consumer price index (CPI). The Price Index is based on a basket of goods and

services. Within a given basket, the prices of some goods and services may rise or fall.

However, when there is a net increase the price of the basket, it is called inflation.

INFLATION DURING THE PERIOD (1981-82 ONWARDS)

Between 1981-82 and 1991-92, prices rose at an annual rate of 8.1 per cent with 1981-82 as the

base year. During the next five years i.e. 1990-91 to 1994-95, the general price level rose at an

annual rate of 10.7 per cent. Beginning with 1991-92 and up to 1994-95 in the Post reforms

period, India once again experienced Double digit inflation. It is only after 1994-95, that the

inflation rate began to moderate and remained around the five per cent average rate. However,

during the period 2006-07 and 2012-13, the average inflation rate once again assumed serious

proportions and remained high at an average rate of 7.7 per cent. Inflation rates in India in the

entire planning period until the year 2013-14 are given in Tables 1 to 3 below.

Table 1 - Inflation in India (1981-82 to 1994-95)

Year WPI Rate (per cent) Remarks

Base Year 1981-82 = 100

1981-82 9.3

The average inflation rate during the period 1981-82

to 1991-92 was 8.1 per cent 1982-83 4.9

1983-84 7.5

1984-85 6.5

1985-86 4.4

1986-87 5.8

1987-88 8.1

1988-89 7.5

1989-90 7.5

1990-91 10.3

1991-92 13.7

1992-93 10.1 Beginning with 1991-92 and up to 1994-95 in the

Post reforms period, India experienced Double digit inflation. 1993-94 10.4

1994-95 12.5

Source: Indian Economic Surveys various issues.


CAUSES OF INFLATION AND THEIR RELEVANCE TO INDIA.

The causes of inflation are classified into two categories. They are demand side and supply side

factors. These factors are discussed in this section.

Demand side Factors Causing Inflation.

Inflation is caused by a rise in aggregate demand over aggregate supply. Factors causing in

aggregate demand over aggregate supply are as follows.

1. High Proportion of Non-developmental Expenditure. Rising government

expenditure has been an important cause of inflation in India. In 1990-91, public

expenditure was 28.7 per cent of the GDP. It had marginally fallen down to 28.1 per cent

in 2011-12. About 47.2 % of the public expenditure in India was on non-developmental

activities (defense, interest payments, tax collection charges and police) in 2011-12.



Base Year 1993-94 = 100

1995-96 8.0 The average annual inflation during the period

1995-96 to 2004-05 was 5.5 per cent. 1996-97 4.6

1997-98 4.4

1998-99 5.9

1999-2000 3.3

2000-01 7.2

2001-02 3.6

2002-03 3.4

2003-04 5.4

2004-05 5.1

Source: Indian Economic Surveys various issues.



Base Year 2004-05 = 100

2005-06 4.4

The average annual inflation rate during the period

2005-06 to 2013-14 is 6.59 per cent.

2006-07 6.6

2007-08 4.7

2008-09 8.0

2009-10 3.8

2010-11 9.5

2011-12 8.9

2012-13 7.5

2013-14 5.9

Source: Indian Economic Surveys various issues and MER Feb 2014.


2. Deficit Financing. The fiscal deficit during the year 2010-11 was Rs.3, 69,043crores and in

the year 2013-14, it was Rs.5, 42,499crores. The fiscal deficit as a percentage of GDP for the

period 1990-91 to 2013-14 is given in Table 4 below. In the years 2008-09 and 2009-10 the fiscal

deficit have gone up to 6% and 6.5% respectively. The budget for 2010-11 announced going

back to fiscal consolidation and the projected fiscal deficit for 2010-11, 2011-12 and 2012-13 is

5.5%, 4.8% and 4.1 % respectively. The actual fiscal deficit figures in the years 2010-11 and

2011-12 were below the projected figures. However, fiscal deficit in 2008-09 and 2009-10, had

gone up due to fiscal intervention made by the Government of India in the wake of the Global

Financial Crisis. Fiscal corrections were made beginning from 2010-11 and the fiscal deficit was

brought down to 4.8 %. In the year 2011-12, the fiscal deficit went up to 5.7 %, followed by 5.2

% in 2012-13 and 4.8 % in 2013-14.

Table 4 - Trends in the Deficits of the Central Government.

Year

Revenue

Deficit

Primary

Deficit

Fiscal

Deficit Revenue

Deficit

As per cent of

Fiscal Deficit (As per cent of GDP)

1990-91 3.3 2.8 6.6 49.4

1991-92 2.5 0.7 4.7 52.7

1992-93 2.5 0.6 4.8 51.7

1993-94 3.8 2.2 6.4 59.2

1994-95 3.1 0.4 4.7 64.6

1995-96 2.5 0.0 4.2 59.2

1996-97 2.4 -0.2 4.1 58.2

1997-98 3.1 0.5 4.8 63.5

1998-99 3.8 0.7 5.1 74.8

1999-2000 3.5 0.7 5.4 64.6

2000-01 4.1 0.9 5.7 71.7

2001-02 4.4 1.5 6.2 71.1

2002-03 4.4 1.1 5.9 74.4

Enactment of FRBM Act

2003-04 3.6 0.0 4.5 79.7

2004-05 2.5 -0.1 4.0 62.6

2005-06 2.7 0.4 4.1 64.7

2006-07 1.9 -0.2 3.3 57.6

2007-08 1.1 -0.9 2.6 42.3

2008-09 4.5 2.6 6.0 12.8

2009-10 5.2 3.2 6.5 66.6

2010-11 3.2 1.8 4.8 66.6

2011-12 4.4 2.7 5.7 73.9

2012-13 3.9 2.0 5.2 68.2

2013-14 3.3 1.5 4.8 68.7

Source: IES 2012-13 and Union Budget 2013-14.


3. Increase in Money Supply. Commenting on the effect of money supply on prices, Dr. C

Rangarajan, former Governor of the Reserve Bank of India states that “Money has an

impact on both output and price. The process of money creation is a process of credit

creation. Money comes into existence because credit is given either to the government or

the private sector or the foreign sector. Since credit facilitates the production process, it

has favorable impact on output. But at the same time the increased money supply raises

the demand with an upward pressure on prices”. Dr. Rangarajan has therefore

accepted the fact in India that price effect of money supply is greater than output

effect.

4. Corruption and Black Money. Corruption by public servants and ministers amounts

to unearned income and leakages in the system. Any leakage in the flow of production

would reduce the total quantity of output and increase in aggregate demand. Further

unreported incomes or black money would also cause rise in prices. Although unreported

incomes are not entirely unearned incomes, they do contribute to excessive consumption

expenditure and therefore cause rise in prices.

Out of the 180 countries surveyed by Transparency International for corruption, India‟s

rank was 74 with an index of 3.5 in the year 2006. An index of 10 indicates complete

freedom from corruption and an index of zero indicates total corruption. Countries with a

CPI score of less than five are considered to have serious problem. India is therefore one

of the most seriously corrupted countries in the world.

Supply Side Factors Causing Inflation.

Supply lags in the economy causes aggregate supply to fall short of aggregate demand and cause

price rise. These supply side causes are as follows.

1. Fluctuating Agricultural Growth. In Indian, population growth rate and the rate of

growth of agricultural output has remained the same in the last twenty years. Indian

agriculture is dependent on monsoons. Thus bad and poor monsoons mean crop failure

and rise in food prices leading to rise in the general price level in the country. In the year

2009-10, food production fell by seven per cent. In the subsequent two years, food

production was up but the year 2012-13 was a year of drought and agricultural output

increased only by 1.4 per cent. The growth in both nominal and real national income has

been much higher than the rise in food production thereby causing the prices to rise.

Agricultural production went up by 4.6 per cent in the year 2013-14 bringing about relief

in food prices in the second half of 2013-14. However, food price inflation continues to

be a big worry as it has been the greatest contributor to overall inflation in the Indian

economy.

2. Hoarding of Essential Goods. When the agricultural sector fails, food prices begin to

rise more rapidly than non-food prices. The problem of food price rise is compounded by

hoarding of agricultural goods by traders. In times of food scarcity, hoarding of food

grains and other food products only helps the prices to rise further.


3. Inadequate Rise in Industrial Production. In India, during the period 1995-96 to 2001-

02, the industrial sector registered slow growth. Inadequate increase in industrial

production has also been an important cause of inflation in India. For instance, after

registering 12.9 and 15.5 per cent growth in the index of industrial production in the

years 2006-07 and 2007-08, in the subsequent four years, the index went up only by 2.5,

6.3, 8.2 and 7.8 per cent respectively. In the year 2012-13, industry grew only at measly

rate of one per cent and dipping further to 0.7 per cent in the year 2013-14. (Ref. MER

Feb 2014, Ministry of Finance, Govt. of India).

MEASURES TO CONTROL INFLATION W.R.T. INDIA.

From 1981-82 to 1989-90, prices rose at an average rate of 8.5 per cent per annum. In 1990-91,

the inflation rate was 10.3 per cent followed by 13.7 per cent in 1991-92. In July 1991, the

Government of India adopted the new economic policy. One of the important tasks of the

government was to maintain price stability under the new economic policy. Accordingly, the

government undertook various measures to control inflation in the country. These measures

were as follows:

1. Monetary Policy. In 1981 the bank rate was raised to 10 per cent to control inflation.

Between May 1983 and July 1989, the CRR was raised from 7 per cent to a maximum of

15 per cent. Further, the SLR was raised in stages to 38.5 per cent in September, 1990.

The bank rate was raised to 12 per cent in October, 1991 to control liquidity in the

economy. Monetary expansion due to rising foreign exchange reserves was controlled

by sterilization of foreign exchange reserves. However, in the post reform period, the

bank rate has been made more effective and in keeping with the objective of low inflation

and high economic growth, the bank rate was reduced to 6 per cent in April 1998 and it

was retained at 6 per cent up to the First Quarter Review of Monetary Policy released on

11th

July 2010 by the Governor, Reserve Bank of India. The bank rate however went up

to 9.5 % as on 29th

March 2012 on account of inflationary pressures in the Indian

economy. Thereafter, the bank rate was brought down to 8.25% in view of recessionary

trend in the Indian economy. Inflationary pressures were back in the years 2012-13 and

2013-14 and hence the bank rate was raised to 9 %.

2. Fiscal Policy. Fiscal policy refers to the income and expenditure policy of the

government. It is an effective tool to control inflation. The Government of India made

attempts to remove fiscal imbalance from 1991-92 by bringing down fiscal deficit from

6.6 per cent to 4.7 per cent of GDP. However, in 1993-94 the fiscal deficit rose to 6.4 per

cent. It was 5.9 per cent in 2001-02. In 2005-06, the fiscal deficit was brought down to

below the five per cent mark. During the decade 1995-2005, the government has been

able to keep the average inflation rate below the five per cent level. However, between

2005-06 and 2013-14, the government had failed to control inflation rate and fiscal deficit

once again went up to 6.0 and 6.5 % in the years 2008-09 and 2009-10 and 5.7 and 5.2 in

the years 2011-12 and 2012-13.


3. Public Distribution System. The Public Distribution System was established in the

country to provide essential consumer goods particularly to the poor people at low prices.

The entire country is covered by this system. However, one cannot say that the system

has been able to control price rise. The agricultural price support policy of the

government has worked against the objective of price stability. As a result of faulty

agricultural policy, food production in India had failed to keep pace with rising demand

for food.

4. Supply Side Measures. In order to improve the supply of essential commodities, the

government of India had allowed food imports. During 1995-96, imports of edible oils,

palmolein, sugar and pulses were allowed. The Food Corporation of India sold rice and

wheat in the open market to control market prices of these food grains. Excise duties on

a number of industrial products were reduced to improve the supply of manufactured

goods.

EPILOGUE.

Given the high level of tolerance of inflation in the entire post-independent India‟s economic

history, the author concludes that both the governments and planners had tacitly accepted high

inflation in order to fuel the engine of economic growth in the first forty years (1951-1991).

However, with economic reforms and globalization of the Indian economy, the tolerance level

has come down and inflation targeting has become a part of the monetary and fiscal policy

framework.

LIST OF REFERENCES.

1. Indian Economy by Ruddar Dutt and Sundaram, 64th

Revised Edition, 2012 published by

S Chand and Company Ltd, New Delhi.

2. Indian Economy by Mishra and Puri, 2012 edition published by Himalaya Publishing

House, Mumbai.

3. Economic Environment of Business by HL Ahuja, 2005 published by S Chand and

Company Ltd.

4. Hand Book of Indian Economy, 2009-10, 11-12 & 12-13 by Reserve Bank of India.

5. Indian Economic Surveys 2010-11, 2011-12 and 2012-13.

6. Monthly Economic Report for Feb 2014 by the Ministry of Finance, Govt. of India.


A COLLECTION OF QUOTABLE QUOTES

BY PRINCIPAL VB ROKADE

“The true meaning of the life is to plant trees, under

whose shade you do not expect to sit”.

- Nelson Henderson.


“Truth is rarely pure and never simple”. - Oscar Wilde.

“The unexamined life is not worth living”. - Socrates


“Technological change is like an axe in the hands of pathological criminal”.

Albert Einstein.

1. “Reading makes a full man, conference a ready man and writing an

exact man”.

2. “Silence is a virtue of fools”.

Sir Francis Bacon.


“You can only be young once, but you can always be immature”. - Dave

Barry

Anonymous Quotes

“Hope is the energy that feeds the soul”.

“Only your real friends tell you when your face is dirty”. - Sicilian Proverb.

“Life is relationship: the rest is just details”.

“Smile can open a heart faster than a key can open door”.

“End is not end in fact END is a effort that never dies”.

“In critical moment even the very powerful have need of the weakest”.

“Slow and steady wins the race”.

“Money is better than poverty, if only for financial reasons”.


ऴोधऱी ऴोधऱेल्या

ऴाांतता


भारताऱा

र

मा

दृष्टीने

स्नेशा ऩाटीरटी. लाम. फी. ए.


:ननवगग आणण भी:

षशत आषे मी जगत आषे मी स्ळाथी जगात कृत्रीम युगात

एकटाच इथे भटकत आषे मी

घाऱून ळार तोडुन झाड े

'गगनचुांबी जांगऱात' हषांडत आषे मी षशत आषे मी जगत आषे मी

झोऩडयाांच्या ळस्तीतून ऴषराांच्या गस्तीतून

माणशाांच्या मनातून वळहानाच्या क्ाांतीतून

'ऩाण्याच्या थेँबाशाठी' भटकत आषे मी


सणणक शुखाशाठी आण्ण्ळक उऩभोगाशाठी कारखानयाांच्या धुराांतून उडत आषे मी

षशत आषे मी जगत आषे मी

आजच्या श्ळाशाशाठी उद्याच्या आऴेशाठी 'हषरळल माया' 'इांटरनेटळरुन' ऴोधत आषे मी

षशत आषे मी जगत आषे मी

-- ऩरम नतगाड े

(टी.ळाय.बी.ए.)


मी तुझ्यात अडकऱे, तुझी षोण्याशाठी.

मी तुऱा जगतये,

तुऱा आऩऱशां करण्याशाठी. तू माझा षोऴीऱ,

याची खात्री आषे मऱा,

षा शगला प्रयाश,

तुझ्या ऩयतं ऩोषचण्याशाठी!

स्नेशा ऩाटीर टी.लाम.फी.ए.


इन्ततजाय

कोएर कक कु – कु, वुनामी नशी देती, ळामद भौवभ फदर गमा शै!

मे कम्फख्त भौवभ को बी अफ फदरना था फेचाया ऩऩीशा अकेरे ऩीशू – ऩीशू, ककमे जा यशा शै!


उवको भौवभ का कोई ilmइल्भ नशी शै, थोडा तुभ कश दो कक,

शलालो का रुख फदर चुका शै, तो लो आगरे फवंत तक का इन्ततजाय कयेगा!

कृष्णान


तू स्ळरूऩ स्ऩांदनाांचे, मी ओलख तुझ्या मनाची. षी ओढ ळेडया मनाची, मज ळेड ऱाळी शख्याची ....!!!!

स्नेषा ऩाटीऱ

टी .ळाय .बी .ए


लो शै जया खपा खपा!

क्मा उनवे शभायी कोई अनफन शो गमी शै?

रगता तो कुछ ऐवा शी शै. क्मोतकी कई ददनो वे, लो शभवे रु-फ-रु नशी शुई, कोई फातचीत नशी शुई,

ददरकळी तो दयू शी यशी, अफ तो दददाय बी नशी यशा!

जरूय शभवे कोई खता शो गमी, न्जव वे लो शभवे खपा शो गमी!

जान-ेअनजाने भे गय, शभने कोई खता कक शै, तो गुस्ताखी भाप कय दो, कपय एक फाय ददर कक ताय छेड दो!


कपय एक फाय शभ गुतगुनामेंगे, अऩना प्माय कपय एक फाय दोशयामेंगे! लो बी शभाये प्माय का इकयाय कयेंगी, शभाया वाथ देने का लादा कयेंगी!

कृष्णन


क्ीडा वळभाग ळाववगक अषळाऱ (२०१३-२०१४)

क्ीडा वळभाग ळाववगक अषळाऱ (२०१३-२०१४)

ळषैणणक लऴग २०१३ -२०१४ च्मा वरुुलातीव भशावलद्मारमाने क्रीडा वमभतीची स्थाऩना केरी मा वमभतीभध्मे प्रा. नागेळ वमूगलळंी ,प्रा .कणवे ,प्रा .फलुा ,प्रा .जांबऱेु इत्मादींचा वभालेळ कयण्मात आरा

आणण क्रीडा वलबागाची जफाफदायी प्रा .वमूगलळंी मांच्मालय व ोोऩलण्मात आरी.

आांतरमषावळद्याऱयीन आणण ण्जल्षा स्तराळरीऱ शषभाग:

भुफंई ळशय कफड्डी अवोमळमन मांच्मा भातमतनेे आणण मळलनेयी क्रीडा भडंऱ दादय आमोन्जत दद .५ ऑक्टोफय २०१३ त े१४ ऑक्टोफय २०१३ मा कारालधीत बयलण्मात आरेल्मा याजेंद्र राड

आंतयभशावलद्मारमीन कफड्डी स्ऩध्मेभध्मे आऩल्मा भशावलद्मारमाच्मा वघंाने उऩांत्मऩलूग पेयी गाठरी .तवेच मळलाजी नाट्मभदंदय दादय आमोन्जत कफड्डी स्ऩधाग दद .११ डडवेंफय २०१३ त ेदद . १२ डडवेंफय २०१३

मा दभागन खेऱलण्मात आल्मा त्माभध्मेशी आऩल्मा भशावलद्मारमाच्मा कफड्डी वघंाने दवुयी पेयी गाठरी .कीती भशावलद्मारम आमोन्जत कीती कयंडक कफड्डी स्ऩधाग दद .१३ डडवेंफय २०१३ ते १५ डडवेंफय २०१३ मा खेऱलण्मात आल्मा त्माभध्मेशी आऩल्मा भशावलद्मारमाने वशबाग नोंदलरा. भशऴी दमानदं भशावलद्मारम

आमोन्जत एभ .के .लभागकयंडक कफड्डी स्ऩधाग दद .५ जानेलायी २०१४ त े८ जानेलायी २०१४ मा कारालधीत आमोन्जत कयण्मात आल्मा शोत्मा त्माभध्मे आऩल्मा भशावलद्मारमाने दवुयी पेयी गाठरी .तवेच भुफंई वलद्माऩीठ आमोन्जत कक्रकेट, कफड्डी ,खो - खो ,मा वांनघक स्ऩधागभध्मे आऩल्मा भशावलद्मारमाने वशबाग नोंदलरा .


आांतरळगीय क्ीडा स्ऩधाग: दद .२६ ऑगष्ट २०१३ त े३० ऑगष्ट मा दयम्मान भशावलद्मारमाने फदु्धीफऱ ,कॅयभ मा क्रीडा स्ऩधागचे आमोजन केरे शोत ेत्मा श्री .गभये मांच्मा भागगदळगनाखारी ऩाय ऩडल्मा .तवेच दद .१५ जानेलायी

२०१४ योजी ऩयंुदये भदैान दादय मेथे आंतयलगीम कक्रकेट , कफड्डी ,खो - खो आणण लमैन्क्तक क्रीडा स्ऩधाग धालणे (१०० भी . ,२०० भी . ,४०० भी . ,८०० भी .) गोऱा पेक ,थाऱी पेक मा स्ऩधाग घेण्मात आल्मा. क्रीडा वलबागाच्मा लऴगबयातीर वलग कामगक्रभावाठी भशावलद्मारमाचे प्राचामग ,उऩप्राचा मग ,क्रीडा वलबागाचे वलग वदस्म ल प्राध्माऩक आणण कामागरमीन कभगचायी मांचे वशकामग राबरे त्माफद्दर वलाांचे भनऩलूगक आबाय. क्रीडा वलबाग प्रनतननधी क्रीडा वलबाग प्रभखु याशुर ऩयफ (एव.लाम.फी.ए ). प्रा .नागेळ वमूगलळंी

प्राध्माऩक नागेळ वूमगलंळी


Extension Project Work - लावऴगक अशलार (२०१३-२०१४)

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Extension Project Work शा उऩक्रभ भुफंई वलद्माऩीठाच्मा Department of lifelong learning and

extension मा वलबागाभापग त याफलरा जातो .ळषैणणक लऴग २०१३ – २०१४ च्मा वरुुलातीव भशावलद्मारमाने प्रा .वमूगलळंी मांची Extension Work Teacher म्शणून नेभणूक केरी .मा लऴी टी .लाम .फी .ए .च्मा ३० वलद्मार्थमाांनी Extension Project Work भध्मे वशबाग नोंदलरा .मा उऩक्रभाचे ऩदशरे चचागवत्र दद .३/८/२०१३

योजी आणण दवुये चचग ोावत्र दद .४/१२/२०१३ योजी ळाशीय अभयळखे वबाग्रश वलद्माथी वलद्माऩीठ बलन मेथे आमोन्जत कयण्मात आरे शोते.

Department of lifelong learning and extension मा वलबागाभापग त दयलऴी “उड्डाण ”उत्वलाचे आमोजन केरे जाते .दयलऴीप्रभाणे मा लऴी २२ जानेलायी २०१४ योजी एव. आम .इ.एव .कॉरेज भाटंुगा मेथे

मा उत्वलाचे आमोजन केरे शोत ेत्माभध्मे आऩल्मा भशावलद्मारमाने करयमय मा वलऴमालयीर ऩथनाट्म वादय केरे .तवेच मा उत्वलात ऩोस्टय भेककंग मा स्ऩध्मेभध्मेशी वशबाग नोंदलरा . ऩोस्टय भेककंग मा

स्ऩध्मेवाठी वशबागी झारेल्मा एकूण १८ भशावलद्मारामाऩकैी आऩल्मा भशावलद्मारमाच्मा अन्जत वाटभ (टी.लाम.फी.ए ).मा वलद्मार्थमागने वादय केरेल्मा ऩोस्टयरा उते्तजनाथग ऩारयतोवऴक मभऱारे .

मा प्रोजेक्टवाठी आम्शारा भशावलद्मारमाचे प्राचामग वल.फी .योकड ेवय तवेच प्रा .वमूगलळंी वय मांचे भागगदळगन राबरे .तवेच मा प्रो जेक्टवाठी वलद्माथी प्रनतननधी म्शणून अजंरी आंफेयकय दशने काभ ऩदशरे .

तवेच मा प्रोजेक्टवाठी मभऱारेल्मा वलाांच्मा वशकामागफद्दर भनऩलूगक आबाय .

वलद्माथी प्रनतननधी Extension Work Teacher

अजंरी आंफेयकय प्रा .नागेळ वमूगलळंी

वळद्याथी प्रनतननधी Extension Work Teacher

अांजऱी आांबेरकर प्रा .नागेऴ शयूगळांऴी


NATIONAL SERVICE SCHEME REPORT (2013-14)

National service scheme is a part of the curriculum which lays emphasis on the principle of co-operation. Hundred student volunteers were enrolled for the NSS program for the year 2013-14. On 2nd August, 2013, the inaugural function was organized and Principal V.B. Rokade was in chair for the function. Mr. Harish Sadani Director from MAVA NGO was the Chief Guest. He talked about the objectives and importance of NSS and various projects. RRC ACTIVITIES. The NSS Volunteers attended Peer Educators Training Workshop. Other activities conducted during the year were RRC Club formation; display of all materials in the college premises, Red Ribbon distribution, World AIDS Day celebration, World AIDS Day rally. UNIVERSITY ACTIVITIES The NSS Volunteers participated in the Hiroshima rally on 6th August at Azad maidan, Vyasanmukti rally on 1st Oct 2013, Gandhi Jayanti program (Bhajan Sandhya) at Gate Way Of India, University foundation day program, Confucius Institute opening ceremony program at Kalina Sports Complex. Volunteers participated in the Yuvak Biradari Program at Ravindra Natya Mandir. Volunteers participated in the Nirbhaya Campaign program at Convocation Hall. Twenty volunteers performed traffic warden duty during the Ganesh Festival; about 40 performed street play on Female Feticide at Lalbaugh, Narepark during the Ganpati festival. The volunteers visited Wadia Hospital and TATA Hospital for the project on Cancer. Fifteen volunteers attended Harish Sadani’s lecture on Gender Discrimination. Volunteers participated in all activities organized by MAVA (NGO) including sessions, street play, competitions and other activities. COLLEGE ACTIVITIES Three sessions were organized in the college on Gender Equality in collaboration with MAVA NGO. Organized one day workshop on Gender Discrimination. Thirty volunteers participated in the workshop. Session on Hepatitis- B was organized by United Way. Madam Ratna delivered a lecture and interacted with 60 students who were present for her lecture. NSS Unit organized one day workshop on Gender Equality by Urja NGO. Teacher’s day, World AIDS day and NSS Day were observed in the college. Tree plantation was organized at Gundage village (Karjat). About 70 students’ participated and 60 plants were planted during the tree plantation program. The volunteers also participated in Women Development Cell Program in the college. Blood donation camp was organized in the college on 4/2/2014 with the assistance of Wadia children’s hospital. About 28 bags of blood were collected during the drive. Volunteers also participated in the tree plantation program at Kidwai road organized by United Way organization. Volunteers celebrated Dr.B.R.Ambedkar jayanti and Savitribai Phule jayanti. Enthusiastic participation was offered by the volunteers in the college days, annual day function and lectures and other useful activities conducted by the NSS Unit in this academic year.


Workshop Chaitali Pawar attended two days theme based workshop on Skill Development for Self Employment’ organized by K.C. College NSS Unit. CAMP Seven volunteers attended three days camp at Wadala organized by MAVA NGO. Also attended five days camp for street play organized by MAVA NGO. COMPETITON Our college won the third prize for street play on ‘Female Feticide’ in the competition organized by Mava NGO. Volunteers participated in the Elocution competition organized by Siddhart College. Volunteers participated in street play competition at Ruia College on Female Feticide and won first prize in group singing. Volunteers also participated in intercollegiate competition organized by MD College and won the first prize for Poster making, third prize for slogan competition on Road Safety. Volunteers also participated in intercollegiate competition organized by MAVA NGO and won first prize in Essay Writing Competition. Our College won the first prize for elocution competition organized by Siddharth College and Elphinstone College. NSS unit’s progress and achievements are impossible without the guidance and support of our Principal Mr. V.B.Rokade. We are very thankful for the support and cooperation given by the teaching, non-teaching staff and the students.

Prof.D.B.Jambhule Program Officer


EMINENT VISITORS

TO

DR. TK TOPE ARTS & COMMERCE NIGHT SENIOR COLLEGE,

PAREL, MUMBAI – 400 012

Dr. N Srinivasan, Chief Economist and Secretary, Bombay Stock Exchange Brokers' Form.

I had the privilege of visiting Dr. TK Tope Arts & Commerce College, Parel, Mumbai – 12 on the occasion of a seminar on ‘Financial Markets and Indian Economy’ organized by the BSE Brokers’ Forum for the college. I had also the privilege of receiving the faculty and students of TKT College at the Bombay Stock Exchange for a field visit organized by Prof. Krishnan, Head, Dept of Economics, TKT College. I was impressed by the turn out of the students on both the occasions. The faculty and students were suitably prepared for the occasion. The students were well disciplined and showed eagerness to learn during the seminar and also during the field visit. I wish the college, the faculty and the students a great future.


Mr. Ajit Manjure, Manager (BD), CDS(L) Mr. Viral Mehta, Channel Manager, ICICI SL

I, Mr. Ajit Manjure, visited Dr. TK Tope Arts & Commerce College, Parel, Mumbai -12 on the occasion of seminar on ‘Financial Literacy and Financial Markets in India’ organized by CDSL for the college on 29th January, 2014. I was pleased by the warm hospitality given to me by the faculty and the arrangements made by the college for the seminar. The students were disciplined, well mannered and inquisitive. The College conducts a number of academic activities like field visits, seminars, debates and discussions. I, Mr. Viral Mehta, Channel Manager, ICICI Securities Limited visited the college as a resource person for the seminar on Indian Financial Market and Financial Literacy. I was pleased by the warm welcome given the faculty and students. The college has a hard working faculty and bright students. I wish them success in their life.


Dr. Suresh Mane, a distinguished academician of great repute.

I was thrilled by the invitation given by the college to address the students on the occasion of their ‘Alumni Meet’ on 21st January, 2014. I was thrilled because, as a former faculty member of the college, I was given the opportunity to visit the college after a hiatus of 23 years. I was pleased by the warm welcome given by the college and the huge attendance for my talk on ‘Social Justice and Indian Constitution’. The college conducts a number of programs of social, political and economic significance for the existing students and the alumni. The college felicitates its alumni for their distinguished achievement every year by organizing the alumni meet. I thank the college, Principal VB Rokade, Prof. Krishnan, Head, Dept of Economics and the faculty members for inviting me for delivering the talk.


Prof. (CA) Ashok Gujar, Associate Professor, SIES College.

I was invited to deliver a lecture on ‘Financial Accounting’ on 24th February, 2014 as part of the Expert Series Lectures in Accountancy and Economics. It was my privilege and pleasure to accept the invitation and rise to the occasion, much because I am a former faculty member of TKT College and because I felt the nostalgia in coming back to the college as an Expert Speaker. I thank Prof. Pankaj Pandagle, Head, Dept of Accountancy and Prof. Krishnan, the IQAC Coordinator for inviting me to deliver the talk. I found the college to be buzzing with activities. I was impressed by the huge turnout of students for the lecture. The students were disciplined and attentive. They were inquisitive and brilliant.


Dr U.S.Biradar, Dr.Ambedkar College, Wadala, Mumbai.

I was invited to deliver a lecture on ‘Business Economics on 25th February, 2014 as part of the Expert Series Lectures in Accountancy and Economics. It was my privilege and pleasure to accept the invitation and rise to the occasion. I thank Prof. Pankaj Pandagle, Head, Dept of Accountancy and Prof. Krishnan, the IQAC Coordinator for inviting me to deliver the talk. I found the college to be buzzing with activities. I was impressed by the huge turnout of students for the lecture. The students were disciplined and attentive. A number of students posed some brilliant questions during the session.


Prof. (CA) Santosh Ghag, Jai Hind College, Churchage, Mumbai.

I was invited to deliver a lecture on ‘Direct and Indirect Taxes’ on 26th February, 2014 as part of the Expert Series Lectures in Accountancy and Economics. It was my privilege and pleasure to accept the invitation and rise to the occasion. I thank Prof. Pankaj Pandagle, Head, Dept of Accountancy and Prof. Krishnan, the IQAC Coordinator for inviting me to deliver the talk. I found the college to be very lively and energetic. I was impressed by the huge turnout of students for the lecture. The students were disciplined and attentive. A number of students posed some brilliant questions during the session.


Prof. Ravindra Wani, ML Dahanukar College of Commerce, Vile Parel (E), Mumbai.

I was invited to deliver a lecture on ‘Financial Accounting and Auditing’ on 28th February, 2014 as part of the Expert Series Lectures in Accountancy and Economics. It was my privilege and pleasure to accept the invitation and rise to the occasion. I thank Prof. Pankaj Pandagle, Head, Dept of Accountancy and Prof. Krishnan, the IQAC Coordinator for inviting me to deliver the talk. I found the college to be buzzing with activities. I was impressed by the huge turnout of students for the lecture. The students were disciplined and attentive. A number of students posed some brilliant questions during the session.

By Krishnan Nandela


A REPORT BY KRISHNAN NANDELA

VISIT BY FACULTY FROM MAHATMA NIGHT DEGREE COLLEGE, CHEMBUR

AND ST. MARY SCHOOL OF ECONOMICS AND BUSINESS ADMINISTRATION,

CALIFORNIA, UNITED STATES OF AMERICA.

Faculty and office bearers from St. Mary School of Economics and Business

Administration, California, USA were on a visit to Mahatma Night Degree College as part

of the cross cultural business studies program from 17th

to 22nd

March, 2014. Principal

Padma Rangan of Mahatma Night Degree College organized a visit to Dr. TK Tope Arts

and Commerce Night Degree College in consultation with Principal VB Rokade on 15th

March, 2014.

The following faculty members visited the college:

1. Principal Padma Rangan, Mahatma Night Degree College, Chembur, Mumbai.

2. Miss. Lata Krishnan, Associate Professor (Commerce), Mahatma Night Degree College.


3. Mr. Kasey Gardner, Asstt Professor (Communication), St. Mary School of Economics

and Business Administration, California, USA.

4. Miss. Julia Fong Ma, Coordinator, After School Programs Family School and

Community Partnerships, Oakland, California.

5. Mr. Brian O‟Shea, Business Development and Marketing Manager.

The visiting dignitaries were cordially welcomed and received by Principal VB Rokade, Vice

Principal Anjali Bhave and Prof. Krishnan Nandela. Miss. Julia Fong Ma interviewed Principal

VB Rokade. In this interview, she posed a variety of questions on the college administration and

academics. The visitors were taken around the college campus and were found to be visibly

impressed by the night college experiment in Mumbai.

Some Photo Moments of the Visit.

1Prof. Krishnan felicitating Principal Padma.


2. Prin. Rokade, Miss. Julia Fong, Miss. Lilly, Prof. Lata, Prin. Padma, Mr. Brian, Prof. Gardner and Prof. Krishnan.

3. Principal VB Rokade with Prof. Kasey Gardner


4. Prof. Krishnan with Prof. Gardner looking on.

5. Prof. Krishnan with the two visiting ladies and Prof. Lata on the extreme right.


6. Prof. Krishnan with Miss. Julia Fong on the right.

7. Prin. Rokade & Prof. Lata Krishnan.


Rural marketing: Challenges and opportunities in India. Prof. Prakash D. Sawant.

I. INTRODUCTION.

India lives in villages are an often quoted fact. The Indian rural markets with its vast size and

demand base offer great opportunities to marketers. ¾ th of the consumers live in rural areas

(7417 lakhs as per 2001 census report) and more than half of the national income is generated

here. Our nation is distributed approximately in 6,30,000 villages which can be sorted in

different parameters such as literary levels, accessibility, income level, penetration, distance

from nearest town etc. It is only natural that rural India occupies an important position in the

marketing strategies both in the narrower and broader spectrum. Since 1970‟s and more

particularly from the mid 1980‟s, the rural economy of India has started showing potentialities.

During 90‟s, there has been a steady shift to as well as growth of purchasing power of rural

India. Thus in recent years the rural sector provides a unique opportunity to expand their market

since the urban segment is clearly showing signs of saturation. The nature and characteristics of

rural market is quite different than that of urban market. Therefore it is worthwhile to understand

the rural characteristics and environment as a prelude.

II. OBJECTIVES.

1. To study the present scenario of rural market in India.

2. To identify the major opportunities available in the rural market.

3. To study the major challenges faced by marketer in rural market.

Share of rural in total population.

2001(in crore) 2011(in crore) Difference(crore)

India 102.9 121.0 18.1

Rural 74.3 83 .3 9.0

Urban 28.6 37.7 9.1

Source: census of India 2011

The above table shows that the share of rural in the total population of India. Rural population

has been increased by 9% from 2001 to 2011 and comprises of 833 million people as compare to

377 million people in urban area which shows greater opportunities for marketers.

III. Literature Review.

The focus of literature, mainly written in the post liberalization period, is on highlighting

potential of vast rural market and providing description of a few cases of commercial

organization of rural areas. The literature has uncritically borrowed theories, framework and

concept from the mainstream marketing discipline, which has shifted the growth of the subject as

an independent field of academic investigation. There is an urgent need to build a distinctive

perspective and a sound theoretical base for rural marketing, which would create its own

concepts, frameworks, theories and body of knowledge. The issue needs immediate attention of

the researcher in rural marketing.


IV. RESEARCH METHODOLOGY AND STATISTICAL TOOLS FOR ANALYSIS.

Research in common parlance refers to a search for knowledge. Once can also define research as

a scientific and systematic search for pertinent information on a specific topic. The various

methods are available such as primary, secondary, observation, qualitative, quantities,

interviews, telephones, main survey, E-mail, and internet methods. We are trying to use the

various measures of central tendency which includes mean, mode, median, standard deviation,

diagrams and graphs, and other tools as per needs and requirements. We are used combination of

Primary and Secondary data in order to collect the data test the hypothesis and draw the relevant

conclusions.

Data collected will be both qualitative & quantitative. In depth interview will be conducted either face to

face or over the telephone. The interview will be semi structured thus enabling researcher to direct the

flow of conversation towards the topic under investigation. Structured questionnaire will be devised and

will be circulated by post / courier.

Data analysis will be done with the help of responses received from the questionnaire. Computer will be

freely used for research analysis. Quantitative data will be analyzed using different packages like SPSS –

statistical software to find out mean difference, standard deviation, frequency distribution table, cross

tabulation, Correlation, factor analysis and reliability analysis. Qualitative data will be analyzed using

scaling techniques etc.

What Is Rural?

B.N. Garudachar, general manager, corporate communication and investor relations at Voltas, a

Tata group company in air-conditioning and engineering services. "These are: low population

numbers, low median income, poor infrastructure [roads, electricity, communications], and

agrarian rather than industrial activity. Such rural areas are within the sphere of influence of

neighboring cities and metros.

V. SALIENT FEATURES OF RURAL INDIA.

Some common characteristics that do exist amongst most of the rural markets in India are as

follows:

A. Population: 83.3 per cent of the villages have a population of less than 2000 (Census of India

2001)

B. Levels of Education: Although the percentage of literates has increased from 36 in 1981 to 59

in 2001, there is still approximately 60 per cent of the rural population who lies below the middle

education bracket. (Kashyap & Raut, 2010)

C. Occupational Pattern: Almost 76 per cent of the rural population depends on cultivation or

wages for their living (NCAER, 2002).

D. Characteristics: in terms of occupation, consumption and buying behavior change

prominently from urban to rural in locations with population more than 10000.


VI. Challenges/ Problems in Rural Marketing.

Despite the fact that rural markets are a huge attraction to marketers, it is not easy to enter the

market and take a sizeable share of the market, in the short time due to the following reasons.

1. Low Literacy:-Due to low literacy level, the written words have limited use in rural communication.

There are not enough opportunities for education in rural areas. The literacy level is as low (36%) when

compared to all- India average of 52%.

2. Seasonal Demand:-Demand for goods in rural markets depends upon agricultural situation, as

agriculture is the main source of income. Agriculture to a large extent depends upon monsoon and,

therefore, the demand or buying capacity is not stable or regular.

3. Transportation:-Many rural areas are not connected by rail transport. Kacha roads become

unserviceable during the monsoon and interior villages get isolated.

4. Distribution:-An effective distribution system requires village-level shopkeeper, Mandal/ Taluka- level

wholesaler or preferred dealer, distributor or stockiest at district level and company-owned depot or

consignment distribution at state level. The presence of too many tiers in the distribution system increases

the cost of distribution.

5. Communication Problems:-For rural communication to be effective, repeat exposure is a must

otherwise the message loss its effect during gap periods. This makes rural communication more

expensive. Facilities such as telephone, fax and telegram are rather poor in rural areas.

6. Traditional Life:-Life in rural areas is still governed by customs and traditions and people do not easily

adapt new practices. For example, even rich and educated class of farmers does not wear jeans or branded

shoes.

7. Buying Decisions:-Rural consumers are cautious in buying and decisions are slow and delayed. They

like to give a trial and only after being personally satisfied, do they buy the product.

8. Media for Promotions:-Television has made a great impact and large audience has been exposed to this

medium. Radio reaches large population in rural areas at a relatively low cost. However, reach of formal

media is low in rural households; therefore, the market has to undertake specific sales promotion activities

in rural areas like participating in meals or fairs.

9. Low Spending Capacity:- Due to low disposable income, they cannot buy radio & TV

10. Joint Families and Strong Kinship Ties:- Rural people live in joint families where females depend on

their males for information regarding various products. So it becomes difficult to reach female consumers

directly.

11. Linguistic and Socio-cultural Differences:- Number of languages and different cultural and social

norms creating problems for marketers in designing the messages, as mass media in one particular

language doesn‟t work for entire rural population.


12. Unique Media Habits: Media habits of villagers are such that the newspapers are found mostly at

groceries shop, tea stall etc. Magazines are not read at all. The household press subscription is almost

absent.

13. Situation Based Leisure Time Activities: Farmers has to work during nighttime and odd hours also. It

is difficult to find the leisure time for communication.

14. Poor Infrastructure: Due to the lack of roads and telecom facilities reaching rural audience is very

difficult. TV viewer-ship is affected by uncertain supply of electricity.

15. Lack of Research Data: Decisions regarding messages and media mix for rural communication

depends only on sales force and distributors, which is insufficient.

16. Selective Attention: Rural people select the messages that are having in their interest and ignore

others.

17. Cultural Factors: Culture is a system of shared values, beliefs and perceptions that influence the

behavior of consumers. There are different groups based on religion, caste, occupation, income, age,

education and politics and each group exerts influence on the behavior of people in villages.

18. Future Trends: Markets which are not able to face the stiff competition posed by MNCs can restore

their profits in the rural sector. The market share of urban market when compared to the rural market is

low; hence if Indian industries concentrate on rural markets their sales will increase. If rural markets are

brought into the limelight of development, they pave way to prosperity. Prosperity of India lies in the

prosperity of every Indian; hence no rural segment should be left untapped.

VII. Opportunities in Rural markets.

A. Untapped potential: it offers a great chance for different branded goods as well as services for

large number of customers. It is estimated by HLL that out of 5 lakh villages in India, only lakh

has been taped so far , which goes on to indicate the market potentials of the rural market .

B. Market size and potential: The size of India s rural market is stated as 12.2 % of the

percentage of the old population this means 12.2% of the worlds consumers leave in rural India.

In India, rural household farm about 73 % of total household constitutes a huge market by any

standard.

C. Increasing income: Different programs undertaken have helped to improve the economic the

economic situation of the rural areas. The increase in income is seen in both absolute values as

well as in the increase in average number of days of occupation in a year.

D. Competition in urban areas: The urban market is getting saturated and thus is enable to

provide the much needed market to many companies and in search of greener pastures many of

these companies are now targeting the rural market.

E. Accessibility markets: Though the road network has not developed to the best possible extent

but a fire amount of development has been made in many regions, making these regions

accessible from the urban region and making it easier for supplying products to these regions


VIII. SUGGESTIONS.

1. Develop new Products for the Rural Market: Product redesign from the beginning can be

done. Marginal changes to existing product will not work effectively. Product must work in

hostile conditions in noise, dust and electricity blackouts etc.

2. Distribution Network: It should be designed to reach highly dispersed rural markets as

compared to highly dense urban markets.

3. More Effective Communication: There is a need to find out the appropriate media, which

could reach the hearts of the rural masses. This is required as none of the media like television,

print; radio etc has absolute reach to the rural masses.

4. Pricing Products can be priced to build up volume in the rural market, especially for smaller

pack size SKUs. 5. Marketing Research should be undertaken involving focus groups. Marketers

should also build prototypes while strategizing for marketing.

IX. CONCLUSION.

Thus, looking at the challenges and the opportunities, which rural markets offer to the marketers,

it can be said that the future is very promising for those who can understand the dynamics of

rural markets and exploit them to their best advantage. A radical change in attitudes of marketers

towards the vibrant and burgeoning rural markets is called for, so they can successfully impress

on the 230 million rural consumers spread over approximately six hundred thousand villages in

rural India. Marketers will have to understand the rural customers before they can make inroads

in to rural makers. Indian rural market is undoubtedly complex but there are some simple truths

that we need to accept. The rural consumers are very value-conscious. They may or may not

have purchasing power, but they can make a difference to the company's growth if concentrated.

So, it is apt to say that “The heart of India still lies in the villages……..”

X. REFERENCES.

1. C.R.Kothari, “research methodology”, second edition, new age international (pvt. limited

publishers, New Delhi

2. Philip kotler, “marketing management”, eleventh edition Pearson education (Singapore) pvt.,

ltd., New Delhi.

3. Balu, R. (2001). Strategic innovation: Hindustan Lever. Fast Company, 120.

4. Venukumar.G, Growth for Indian Rural Market, SAJMMR, Volume-2,Issue-2 (Feb-2012)

5. Dr. Ashfaque Ahmed, Rural Marketing Strategies for Selling Product and Services: Issues

and Challenges, JBM&SSR, Volume-2 No-1 January-2013.

6. Tripathi, Abhishek, Rural Marketing in India-Challenges, Opportunities and Strategies,

Voice of Research, Volume -1 Issues-3 December-2012. Page-42.

7. Pradip Kumar, Challenges and Opportunities of Indian Rural Market, Internal Journals of

Marketing Studies, Vol-5, No.3, 2013.


8. Phanindra Kumar,k. Swamy.s. Indian Rural Market- Opportunities and Challenges, Trans

Asian Research Journals, Volume-2, Issues-2 February-2013.

9. Benjimin Neuwirth, Marketing Channel, Strategies in Rural Emerging Markets, by

International publication ltd, Schools of Management, Benjamin.2009.

10. http://www.hundubusinessonline.com.

Prof. Prakash D. Sawant – (Assistant Professor in Commerce) Gokhale Education Society’s

Dr.T.K.Tope Night College Parel, Mumbai-400 708. (M.S) [email protected]

http://www.hundubusinessonline.com/


Counting Language

Pankaj Pandagle, Assistant Professor (Accountancy).

I was watching a program on the discovery channel that a tiger was running to hunt a deer.

Hunting is not a hobby for the tiger but a rule of survival. We are human beings; we are also

doing same thing for survival. Every human being needs food, clothing, shelter, education,

security and status. Therefore, they are doing hard work, to earn such basic needs.

Due to modernization, westernisation and privatisation many people get good jobs and they also

start earning large amount of money. Therefore, their standard of living is improved. Now a

days, human beings are sub-divided into groups as per income i.e. lower class, middle class and

higher class. Lower class and middle class people always try to develop their standard of living.

They purchase luxuries products i.e. LED TV, Cell Phone, Motor car, Computer, Refrigerator,

Washing machine etc.

Human beings are more intelligent, more emotional but are also more jealous as compared to

other animals. In our common life many people are suffering from shortage of money. Their

standard of living and purchasing power have increased. Many times a middle class lady

compares her gold ornament to that of her neighbor‟s. They are buying costly Cell phone for

status purpose. Many people are spending large amount of money for celebrating festivals,

marriage ceremony; New Year celebration, drinking and vaction.

People spend money in such a way; that they do not understand how much balance is available.

One day, a person comes asking for payment. The answer is, we do not have single paisa for

paying debt. Such situation arises in many people‟s life. Accountancy plays an important role in

our life, in this context. It is useful in our day to day life. Accountancy as a profession offers a

wide variety of career opportunities. Industries and commerce are increasingly dependent on

accountants who can analyse and interpret business problem.


Accounting is the language of business through which normally a business house communicates

with the outside world. In order to make this language intelligible and commonly

understandable, by all, it is necessary to learn accounting. So it is not counting, it is accounting

language.

In our day to day life, such language play very vital role. There are so many ways we are

interacting with language. Many people are not aware about using language in our daily life. We

are using Debit Card, Credit Card (Without knowing what is Debit or Credit). All banking

transactions are recorded in Pass book (without knowing Deposit and Withdrawal are Credited

and Debited respectively). We are using Cheque book, Pass book, even daily wage sheet, salary

slip etc.

Accounting is a systematic and scientific way of presentation and understanding of monetary

transactions. It is a universal language accepted by every human being. It should be followed by

individual, who are doing any monetary transaction. It is most effecting for preparing our Family

budget also. Our word becomes family only by way of using such accounting language. It is a

powerful source of communication.

Investment is dependent on Company‟s financial statement. Every human being interested to

invest money for future must understand accounting language. All Companies are doing their

business by using accounting language. They requires accounting experts, they are taking help of

Chartered Accountant, Company secretary, Cost Accountant.

Now a day‟s Chartered Accountants are very busy for doing accounting work of companies as

well as Election also. Accounting is called the “language of business‟‟ because it is so widely

used to describe all types of business activities. Costs, prices, sales volume, profits, and return on

investment-all are accounting measurements. Every investor, creditor (lender) and business

manager needs a clear understanding of accounting terms and concepts if he is to effectively

communicate and participate in the business community. So hurry up and learn our counting

language.

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