Pub Date : 2024-08-10DOI: 10.1177/00194662241263316
M. Chhabra, Anushka Verma, A. K. Giri
The present study contributes to the existing literature of trade-growth and information and communication technology (ICT)-growth nexus by examining the impact of ICT-trade nexus on economic and inclusive growth in 17 developing Asian countries for the time period 2005–2019. Using system generalised method of moments (GMM), the study confirms whether ICT diffusion enhances or distorts the impact of trade on growth. ICT diffusion is measured through a composite index of ICT (mobile, telephone, broadband, internet) constructed using principal component analysis (PCA) along with trade (per cent of GDP), GDP per capita and human development index (HDI) as a proxy for trade openness, economic growth and inclusive growth, respectively. Findings confirm positive impact of ICT diffusion and trade openness on both economic growth and inclusive growth. Thus, trade openness and ICT can be outlined as essential contributors to the growth of the major emerging Asian economies. The study concludes with policy implications focusing on investment in ICT sector and human capital development, which will consequently foster trade and uplift growth. JEL Codes: C23, F14, F43, O33
{"title":"ICT Diffusion, Trade Openness and Growth: Empirical Evidence from Asian Countries","authors":"M. Chhabra, Anushka Verma, A. K. Giri","doi":"10.1177/00194662241263316","DOIUrl":"https://doi.org/10.1177/00194662241263316","url":null,"abstract":"The present study contributes to the existing literature of trade-growth and information and communication technology (ICT)-growth nexus by examining the impact of ICT-trade nexus on economic and inclusive growth in 17 developing Asian countries for the time period 2005–2019. Using system generalised method of moments (GMM), the study confirms whether ICT diffusion enhances or distorts the impact of trade on growth. ICT diffusion is measured through a composite index of ICT (mobile, telephone, broadband, internet) constructed using principal component analysis (PCA) along with trade (per cent of GDP), GDP per capita and human development index (HDI) as a proxy for trade openness, economic growth and inclusive growth, respectively. Findings confirm positive impact of ICT diffusion and trade openness on both economic growth and inclusive growth. Thus, trade openness and ICT can be outlined as essential contributors to the growth of the major emerging Asian economies. The study concludes with policy implications focusing on investment in ICT sector and human capital development, which will consequently foster trade and uplift growth. JEL Codes: C23, F14, F43, O33","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"18 10","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141920977","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-08-10DOI: 10.1177/00194662241265475
Reji K. Joseph, Ramaa Arun Kumar
The COVID-19-induced disruptions in the global supply chains and growing geopolitical sensitivities of governments and multinational corporations (MNCs) are increasingly resulting in China plus one strategy in order to ensure supply chain resilience. This strategy is expected to benefit countries like India in sectors such as pharmaceuticals. Having faced the brunt of excessive reliance on a single country for supplies during the pandemic, India launched a product linked incentive (PLI) scheme in July 2020, covering 41 products, to incentivise domestic production of key starting materials (KSMs), drug intermediates (DIs) and active pharmaceutical ingredients (APIs) with the objective of reducing dependence on China. Launching at a time when countries and firms were actively considering the strategy of supply chain diversification, this scheme was perceived to be perfectly timed. However, the response of the industry was not on the expected lines. This article analyses the early trends coming from the implementation of the scheme and looks into the reasons for the lukewarm response of the industry. It identifies three areas—creating confidence among the investors, accommodating micro, small and medium enterprises (MSMEs) and involving public sector enterprises—where more attention is needed to make India self-reliant in APIs and their DIs and KSMs. JEL Codes: F02, F13, L24, L65, L78, O30
{"title":"Making Global Pharma Supply Chain Resilient: Will the PLI Scheme of India make it a Reliable Alternative to China for the Supply of APIs?","authors":"Reji K. Joseph, Ramaa Arun Kumar","doi":"10.1177/00194662241265475","DOIUrl":"https://doi.org/10.1177/00194662241265475","url":null,"abstract":"The COVID-19-induced disruptions in the global supply chains and growing geopolitical sensitivities of governments and multinational corporations (MNCs) are increasingly resulting in China plus one strategy in order to ensure supply chain resilience. This strategy is expected to benefit countries like India in sectors such as pharmaceuticals. Having faced the brunt of excessive reliance on a single country for supplies during the pandemic, India launched a product linked incentive (PLI) scheme in July 2020, covering 41 products, to incentivise domestic production of key starting materials (KSMs), drug intermediates (DIs) and active pharmaceutical ingredients (APIs) with the objective of reducing dependence on China. Launching at a time when countries and firms were actively considering the strategy of supply chain diversification, this scheme was perceived to be perfectly timed. However, the response of the industry was not on the expected lines. This article analyses the early trends coming from the implementation of the scheme and looks into the reasons for the lukewarm response of the industry. It identifies three areas—creating confidence among the investors, accommodating micro, small and medium enterprises (MSMEs) and involving public sector enterprises—where more attention is needed to make India self-reliant in APIs and their DIs and KSMs. JEL Codes: F02, F13, L24, L65, L78, O30","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"3 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141921037","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-07-10DOI: 10.1177/00194662241253871
S. Kapoor, B. Pal, Aditi Singhal, K. Anantha
Technology adoption has been advocated to be an important way to improve agricultural productivity and welfare of the farmers in the semi-arid regions across the globe. Government of Karnataka implemented Bhoosamrudhi programme in four districts of the state (Bidar, Chikballapur, Dharwad and Udupi) as a pilot project to increase the crop yield and income of smallholder farmers. This programme was launched on the theme of technology adoption, along with convergence among different departments of agriculture. Farmers have been classified into five categories based on their levels of technology intensification to assess the impact of different levels of technology intensification on their income level. The research is built on a primary survey conducted in pilot districts of the state in 2018 over a sample of 1,465 farmer households. The results are generated using econometric methods of propensity score matching (PSM) and inverse probability weighted with regression adjustment (IPWRA), which highlight that higher the intensification, higher the net returns to the farmers. The results state that non-adopters would benefit additional ₹3,200 per month if they adopt at least one level of technology intensification. Hence, this programme turned out to be a successful model for smallholder farmers in semi-arid region of India. Steps should be taken to maintain and expand the momentum of the adoption to ensure food and livelihood security in the economy. JEL Codes: Q16, Q54, Q55, C13
{"title":"Technology Intensification and \u2028Farmers’ Welfare: A Case \u2028Study from Karnataka, \u2028a Semi-arid State of India","authors":"S. Kapoor, B. Pal, Aditi Singhal, K. Anantha","doi":"10.1177/00194662241253871","DOIUrl":"https://doi.org/10.1177/00194662241253871","url":null,"abstract":"Technology adoption has been advocated to be an important way to improve agricultural productivity and welfare of the farmers in the semi-arid regions across the globe. Government of Karnataka implemented Bhoosamrudhi programme in four districts of the state (Bidar, Chikballapur, Dharwad and Udupi) as a pilot project to increase the crop yield and income of smallholder farmers. This programme was launched on the theme of technology adoption, along with convergence among different departments of agriculture. Farmers have been classified into five categories based on their levels of technology intensification to assess the impact of different levels of technology intensification on their income level. The research is built on a primary survey conducted in pilot districts of the state in 2018 over a sample of 1,465 farmer households. The results are generated using econometric methods of propensity score matching (PSM) and inverse probability weighted with regression adjustment (IPWRA), which highlight that higher the intensification, higher the net returns to the farmers. The results state that non-adopters would benefit additional ₹3,200 per month if they adopt at least one level of technology intensification. Hence, this programme turned out to be a successful model for smallholder farmers in semi-arid region of India. Steps should be taken to maintain and expand the momentum of the adoption to ensure food and livelihood security in the economy. JEL Codes: Q16, Q54, Q55, C13","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"7 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141662265","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-07-01DOI: 10.1177/00194662241238937
S. Dey, Faroque Ahmed
The study endeavours to investigate how the transfers of international remittances influence the expenditure behaviour of returnee migrant families in Bangladesh. The primary data were collected using the multi-stage stratified random sampling technique through a structured questionnaire from Tangail and Comilla on several expenditure characteristics of migrants. Propensity score matching (PSM) method is employed to assess the impact of remittances on expenditure patterns of returnee migrant households through the estimation of average treatment effects on the treated. The PSM technique has allowed us to evaluate the impact of remittances on several expenditure categories such as food, non-food, education, medical and so on. The study findings divulge that remittances exhibit a significant and positive impact on poverty reduction since they have contributed a lot in terms of income generation and increment of consumption expenditures. Moreover, compared to non-migrant families, migrant families are more exposed to positive behavioural transformations because of their spending on productive investments like non-durable goods, education and health care. Therefore, the findings underline the optimistic view of migration and development theory that foreign remittances support to increase the investments both in the physical and human capital of migrant families as well as to improve the wellbeing of Bangladeshi people. JEL Codes: D10, F24, O15
{"title":"International Remittances and Household Expenditure Patterns in Bangladesh","authors":"S. Dey, Faroque Ahmed","doi":"10.1177/00194662241238937","DOIUrl":"https://doi.org/10.1177/00194662241238937","url":null,"abstract":"The study endeavours to investigate how the transfers of international remittances influence the expenditure behaviour of returnee migrant families in Bangladesh. The primary data were collected using the multi-stage stratified random sampling technique through a structured questionnaire from Tangail and Comilla on several expenditure characteristics of migrants. Propensity score matching (PSM) method is employed to assess the impact of remittances on expenditure patterns of returnee migrant households through the estimation of average treatment effects on the treated. The PSM technique has allowed us to evaluate the impact of remittances on several expenditure categories such as food, non-food, education, medical and so on. The study findings divulge that remittances exhibit a significant and positive impact on poverty reduction since they have contributed a lot in terms of income generation and increment of consumption expenditures. Moreover, compared to non-migrant families, migrant families are more exposed to positive behavioural transformations because of their spending on productive investments like non-durable goods, education and health care. Therefore, the findings underline the optimistic view of migration and development theory that foreign remittances support to increase the investments both in the physical and human capital of migrant families as well as to improve the wellbeing of Bangladeshi people. JEL Codes: D10, F24, O15","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"81 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141847564","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The overuse of chemical fertiliser in agriculture is a serious concern across the Global South, as well as in India. In this context, a pan-India government programme of soil testing and recommending optimal doses of fertilisers has been introduced. Given this, we have undertaken a study based on a primary survey of 180 sample households in two agriculturally advanced districts of West Bengal, India. We have identified widespread overuse of chemical fertilisers and certain critical drawbacks of the government programme. Crucially, we have also found that over and above farmers’ lack of awareness (and some of their traits), large private fertiliser companies might be playing a dominant role in this practice of overuse. This interventionist exercise should have far-reaching economic, environmental and even sociopolitical impacts, and hence it calls for critical policy involvement. JEL Codes: P16, Q12, Q15, Q18
{"title":"Political Economy of Fertiliser Use in Agriculture: A Study of Two Districts of West Bengal*","authors":"Rishav Mukherjee, Pratip Kumar Datta, Saumya Chakrabarti","doi":"10.1177/00194662241251565","DOIUrl":"https://doi.org/10.1177/00194662241251565","url":null,"abstract":"The overuse of chemical fertiliser in agriculture is a serious concern across the Global South, as well as in India. In this context, a pan-India government programme of soil testing and recommending optimal doses of fertilisers has been introduced. Given this, we have undertaken a study based on a primary survey of 180 sample households in two agriculturally advanced districts of West Bengal, India. We have identified widespread overuse of chemical fertilisers and certain critical drawbacks of the government programme. Crucially, we have also found that over and above farmers’ lack of awareness (and some of their traits), large private fertiliser companies might be playing a dominant role in this practice of overuse. This interventionist exercise should have far-reaching economic, environmental and even sociopolitical impacts, and hence it calls for critical policy involvement. JEL Codes: P16, Q12, Q15, Q18","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"59 22","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141346946","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-06-11DOI: 10.1177/00194662241254502
Ankit Nagar, D. K. Nauriyal, Sukhpal Singh
This article examines the key drivers of farmers’ adoption of technical advice and their preferred providers of agricultural extension services. Based on a primary survey conducted in western Uttar Pradesh, India, the data from 272 sample households were analysed using a binary logistic regression model. The findings suggest that farmers’ decisions to adopt technical advice are influenced positively by farm size, household size, average hours spent on farms, training and awareness of the extension scheme. The positive relationship between farm size and technical advice adoption demonstrates the need for extension services to reconsider their strategies for reaching out to more marginal and small farmers, who account for over 85 per cent of agricultural households, by incorporating their priorities into their outreach programmes. Non-government extension sources are found to be important for access but not for the adoption of technical advice. However, in both commercial and public extension services, a lack of faith in extension services is the fundamental cause of the relatively low adoption rate. The low preference of information and communications technology-based extension services underlines that physical forms of extension services are far more important in developing countries like India. JEL Code: Q16
{"title":"Factors Influencing Adoption of Technical Advice from Agricultural Extension Services: Evidence from a Field Survey in Western Uttar Pradesh, India","authors":"Ankit Nagar, D. K. Nauriyal, Sukhpal Singh","doi":"10.1177/00194662241254502","DOIUrl":"https://doi.org/10.1177/00194662241254502","url":null,"abstract":"This article examines the key drivers of farmers’ adoption of technical advice and their preferred providers of agricultural extension services. Based on a primary survey conducted in western Uttar Pradesh, India, the data from 272 sample households were analysed using a binary logistic regression model. The findings suggest that farmers’ decisions to adopt technical advice are influenced positively by farm size, household size, average hours spent on farms, training and awareness of the extension scheme. The positive relationship between farm size and technical advice adoption demonstrates the need for extension services to reconsider their strategies for reaching out to more marginal and small farmers, who account for over 85 per cent of agricultural households, by incorporating their priorities into their outreach programmes. Non-government extension sources are found to be important for access but not for the adoption of technical advice. However, in both commercial and public extension services, a lack of faith in extension services is the fundamental cause of the relatively low adoption rate. The low preference of information and communications technology-based extension services underlines that physical forms of extension services are far more important in developing countries like India. JEL Code: Q16","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"61 14","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141358323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-06-09DOI: 10.1177/00194662241254500
Richa Verma Bajaj, Soumya Gupta
This article provides an insight into the quality of credit portfolio of banks for the period from 2007–2008 to 2020–2021. The objective is to study the transition of public sector and private sector banks in India from standardised approach (SA) to internal rating-based (IRB) approach of credit risk. The overall structure of the article gives clear insight into why it is important for the banks to improve credit portfolio quality, considering default and recovery risk estimates, which in turn affect the returns of the bank. The study concludes that there is a need to improve credit quality of banks in India with a focus on small banks in public sector and large banks in private sector, as these banks are saddled with high defaults. Low rate of recovery in small banks in public sector and private sector adds to credit loss severity and high risk weights for the banks in IRB regime. However, the recent merger of the public sector banks, considering asset quality concerns, is still an unanswered question. JEL Codes: G010, G210, G320, G330
{"title":"Credit Quality and Credit Risk: A Rigorous Walkthrough","authors":"Richa Verma Bajaj, Soumya Gupta","doi":"10.1177/00194662241254500","DOIUrl":"https://doi.org/10.1177/00194662241254500","url":null,"abstract":"This article provides an insight into the quality of credit portfolio of banks for the period from 2007–2008 to 2020–2021. The objective is to study the transition of public sector and private sector banks in India from standardised approach (SA) to internal rating-based (IRB) approach of credit risk. The overall structure of the article gives clear insight into why it is important for the banks to improve credit portfolio quality, considering default and recovery risk estimates, which in turn affect the returns of the bank. The study concludes that there is a need to improve credit quality of banks in India with a focus on small banks in public sector and large banks in private sector, as these banks are saddled with high defaults. Low rate of recovery in small banks in public sector and private sector adds to credit loss severity and high risk weights for the banks in IRB regime. However, the recent merger of the public sector banks, considering asset quality concerns, is still an unanswered question. JEL Codes: G010, G210, G320, G330","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":" 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141368060","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-06-02DOI: 10.1177/00194662241257650
Prem Vaswani, M. Padmaja
This research attempts to scrutinise the asymmetric nexus of macroeconomic factors in determining the financial stock market performance using index returns of BSE-SENSEX and NSE-NIFTY as proxies for stock market performance in India. The auto-regressive distributed lag (ARDL) results demonstrate the long-term nexus of money supply, interest rates, gold prices, inflation, exchange rate, oil prices and foreign institutional investment (FII) in the capital market with stock returns. The non-linear ARDL (NARDL) results unequivocally support that the selected macroeconomic factors have an asymmetric nexus with the stock market performance. The study’s empirical findings have significant consequences for policy in designing the asset allocation decisions by the investor, portfolio managers and policymakers in the circumstances of a sudden positive or negative shock in the stock market. JEL Codes: E44, G10, C58
{"title":"Modelling (A)symmetric Nexus Between Macroeconomic Information Sentiment Biases and Stock Market Returns in Case of India: A Bound Test Approach","authors":"Prem Vaswani, M. Padmaja","doi":"10.1177/00194662241257650","DOIUrl":"https://doi.org/10.1177/00194662241257650","url":null,"abstract":"This research attempts to scrutinise the asymmetric nexus of macroeconomic factors in determining the financial stock market performance using index returns of BSE-SENSEX and NSE-NIFTY as proxies for stock market performance in India. The auto-regressive distributed lag (ARDL) results demonstrate the long-term nexus of money supply, interest rates, gold prices, inflation, exchange rate, oil prices and foreign institutional investment (FII) in the capital market with stock returns. The non-linear ARDL (NARDL) results unequivocally support that the selected macroeconomic factors have an asymmetric nexus with the stock market performance. The study’s empirical findings have significant consequences for policy in designing the asset allocation decisions by the investor, portfolio managers and policymakers in the circumstances of a sudden positive or negative shock in the stock market. JEL Codes: E44, G10, C58","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"9 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141273323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-05-23DOI: 10.1177/00194662241254501
Dr. Kawal Gill, Gurminder Kaur Arora, Jappanjyot Kaur Kalra
Financial inclusion is a process of providing financial services to everyone at an affordable cost, particularly to weaker sections and low-income groups. The study analyses the level of awareness, usage of banking services and other financial benefits and explores the hindrances to financial inclusion faced by the informal workers in Delhi National Capital Region (NCR). An empirical survey is done, and 760 responses are evaluated to understand the level of financial inclusion using correlation, logit regression analysis, etc. Findings of the study indicate that level of financial awareness and inclusion increase with age, education and income for fixed salary workers. Major hindrances to financial inclusion are lack of savings for using financial services, lack of necessary documentation and lack of trust in the formal banking system. Therefore, the government needs to make more efforts to reach out to the urban poor and informal workers for all-around inclusiveness. JEL Codes: D14, E26, G2, J46, O1
{"title":"Financial Inclusion—A Study of Informal Workers from Delhi NCR","authors":"Dr. Kawal Gill, Gurminder Kaur Arora, Jappanjyot Kaur Kalra","doi":"10.1177/00194662241254501","DOIUrl":"https://doi.org/10.1177/00194662241254501","url":null,"abstract":"Financial inclusion is a process of providing financial services to everyone at an affordable cost, particularly to weaker sections and low-income groups. The study analyses the level of awareness, usage of banking services and other financial benefits and explores the hindrances to financial inclusion faced by the informal workers in Delhi National Capital Region (NCR). An empirical survey is done, and 760 responses are evaluated to understand the level of financial inclusion using correlation, logit regression analysis, etc. Findings of the study indicate that level of financial awareness and inclusion increase with age, education and income for fixed salary workers. Major hindrances to financial inclusion are lack of savings for using financial services, lack of necessary documentation and lack of trust in the formal banking system. Therefore, the government needs to make more efforts to reach out to the urban poor and informal workers for all-around inclusiveness. JEL Codes: D14, E26, G2, J46, O1","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"13 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141104639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-05-15DOI: 10.1177/00194662241251554
Poonam Rani, A. K. Sahoo, Naresh Singla
Understanding the economic efficiency of agriculture production in Punjab is an interest of this study. The Cost of Cultivation Survey data set for the block period 2014–15 to 2016–17 has been used. Data envelopment analysis deterministic approach has been applied to measure production efficiency. The estimation showed that in the case of wheat, 73 per cent of tehsils and in the case of paddy, 77 per cent of tehsils in Punjab are found to be inefficient in crop production due to poor input utilisation (managerial inefficiency) and scale size (scale inefficiency). But the higher proportion of inefficiency is mainly attributed to the non-optimal scale of production as compared to pure technical allocation. The farmers can increase their production level on average by 7–17 per cent through improving farm efficiency. Findings showed that farmers are allocating their input resources in an exploitative manner due to which they failed to use an appropriate combination of inputs, which is necessary to achieve cost minimisation. These findings have important implications for agricultural development policy and are likely to offer some useful insights for the adequate use of scarce sources. JEL Codes: C33, C67, Q10, Q15
{"title":"Economic Efficiency of Agriculture in Punjab: Evidence from Cost of Cultivation Survey","authors":"Poonam Rani, A. K. Sahoo, Naresh Singla","doi":"10.1177/00194662241251554","DOIUrl":"https://doi.org/10.1177/00194662241251554","url":null,"abstract":"Understanding the economic efficiency of agriculture production in Punjab is an interest of this study. The Cost of Cultivation Survey data set for the block period 2014–15 to 2016–17 has been used. Data envelopment analysis deterministic approach has been applied to measure production efficiency. The estimation showed that in the case of wheat, 73 per cent of tehsils and in the case of paddy, 77 per cent of tehsils in Punjab are found to be inefficient in crop production due to poor input utilisation (managerial inefficiency) and scale size (scale inefficiency). But the higher proportion of inefficiency is mainly attributed to the non-optimal scale of production as compared to pure technical allocation. The farmers can increase their production level on average by 7–17 per cent through improving farm efficiency. Findings showed that farmers are allocating their input resources in an exploitative manner due to which they failed to use an appropriate combination of inputs, which is necessary to achieve cost minimisation. These findings have important implications for agricultural development policy and are likely to offer some useful insights for the adequate use of scarce sources. JEL Codes: C33, C67, Q10, Q15","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"50 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140975034","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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