PURSUITS Academic Journal December 2018, Volume VII, ISSN : 2322 0643 Peer Reviewed
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PURSUITS Academic Journal December 2018, Volume VII, ISSN : 2322 0643 Peer Reviewed Edited by Prof. (Dr.) Sukanti Dutta City College of Commerce & Business Administration 13 Surya Sen Street, Kolkata - 700 012 www.cccba.ac.in PURSUITS Academic Journal December 2018, Volume VII, ISSN - 2322 0643 Edited by : Prof. (Dr.) Sukanti Dutta Associate Professor of English City College of Commerce & Business Administration Published by: Prof. (Dr.) Sandip Kumar Paul Principal City College of Commerce & Business Administration Printed at: Rohini Nandan 19/2, Radhanath Mallick Lane, Kolkata – 700 012 Mail to: [email protected] All articles and papers published in the journals are original contributions and have never been published in any book/journal/magazine. EDITORIAL BOARD Editor-in-Chief Prof. (Dr.) Sukanti Dutta Co-Editor Dr. Pankaj Kumar Roy Principal, Jogesh Ch. Chowdhury College Kolkata Member Prof. Manturam Samanta Principal Maharaja Manindra Chandra College, Kolkata. Dr. Subir Kumar Dutta Principal Khudiram Bose Central College, Kolkata. Prof. Siddhartha Majumdar Associate Professor &Former Chairman W.B.College Service Commission, Kolkata. Prof. Subhayan Basu Associate Professor of Commerce Anandamohan College Peer Reviewers Dr. Mohd. Akbar Ali Khan Prof. & Dean, Faculty of Commerce Osmania University, Hyderabad Dr. D.L.Konar Former Professor of Economics Kalyani University Prof. Bharat Dalal Head of Department of Finance Pune Institute of Business Management (PIBM) Maharashtra. Dr. Radhanath Pyne Department of Commerce Seth Anandram Jaipuriya College, Kolkata. Dr. Siddhartha Biswas Department of English University of Calcutta Principal's Address When something very near your heart remains at a distance, your heart misses a beat. It happened with me, with all of us, who have been associated with Pursuits since its very birth. This time the college has been going through a very difficult phase at various levels of activities, both academic and administrative. The research journal, which usually sees daylight within the first four months every year, was left in the lurch and was for sometime left in the cold storage. We felt awful because it was the academic flagship of our institution, something to set store by. However, the Board of Editors stuck to its gun and we heaved a collective sigh of relief when the learned Referees were generous enough to review the articles despite severe time constraints. While it is true that in a couple of cases the procedure got stuck because the Referees had their hands full, it is equally true that their response was, in most cases, positive. But all that is history now! Any academic exercise worth its name must set a ceiling for qualitative excellence, and Pursuits tries its utmost to work to this end. We encourage research papers from teachers who have just started their career not because they are encouraged and enthused by an opportunity to showcase their potential, nor because a publication in an ISSN-labelled journal might stand them in good stead in interviews, but chiefly because they are able to gain a foothold in the academic world, to evaluate themselves, to check where their moorings lie. We have a rich pool of talent in our institution, but we are very happy to invite scholars from other institutions because such juxtaposition enriches this journal, for that matter any journal, a hundredfold. I do not have any precise idea about how the journal will shape or whether it will find a place in the UGC approved list of journals, where it is going to try to gain access in. I can only wish the very best to the journal, the Board of Editors, the contributors and the readers at large! Editors’ Desk It is always pleasant to write this page every year before another edition of Pursuits sees daylight. However, this time we are running much behind schedule and are faced with the difficult task of bringing out the next issue at the year end. This inordinate delay may be attributed to several factors ranging from some technical snags to some changes in the academic set-up of the institution to availability of some of the learned Referees, who have doubtlessly to perform the unenviable task of reviewing articles in the midst of a packed schedule, for which we remain much beholden to them. However, as they say, ‘Better late than never’! So, all this delay notwithstanding, the research journal has weathered the storm and is ready for publication. A few facts, however, are required to be shared with all closely or remotely connected with Pursuits. Since the journal is yet to feature on the list of UGC approved journals (owing to some unavoidable circumstances, we missed the deadline by a whisker the last time around), young scholars eager to make a mark in the academic field, might feel a little confused about their contributions to the journal. However, to obviate any apprehensions about the issue, we might mention here at this juncture that quite a few papers written by such scholars and reviewed by learned Peers have found their place in the journal, which is going to be placed for UGC approval in a short while. With a view to gaining such approval and on the advice of the learned Referees, we have decided to be a little more stringent in our selection of papers and articles this time around. It is not that the contributions which have failed to make the cut are qualitatively inferior to others; it is rather the repetitive nature of their themes which has moved some articles out of reckoning. This approach has been adopted to keep in sync with evolving ideas and thought patterns and to find out ways and means to explore newer territories. Hence, we would like to receive feedback from the readers in regard to the drawbacks and lacunae of our venture and request them to offer suggestions so that we can upgrade the standard of our journal. Finally, we intend to get back to our usual practice and bring out the next issue of Pursuits (2019 Edition, Vol. 7) by 30th April, 2020, where we will try to accommodate a Students’ Section to give them enough scope to tap their academic resources and hone their talents. We can always hope for the best! Contents COMMERCE & RELATED AREAS Towards a Broader value: A Discourse on Unified Value-Added 11 Umasankar Saha Foreign Trade Policy - After Rollout of GST 27 Partha Pratim Ghosh & Mohit Kumar Agarwal Impact of Growth of Mutual Fund on Investors – Study on Metro Cities 33 Barun Kumar Das Global Meltdown and its Impact on Select Indian Companies-Pharmaceutical as a Case 45 Mitasi Das Corporate Social Responsibility: A Study of CSR Practices of Pre – Companies Act, 2013 CSR Complying and Non-Complying Companies with respect to the Provisions of Indian Companies Act, 2013 59 Dipika Bhattacharyya Performance Analysis –A Study on Private Sector Banks in India using CAMEL Model 70 Srabani Dey A Study on Derivative Instruments & International Financial Reporting Standards (IFRS) 83 Tapas Kumar Tripathy & Tarun Kumar Samaddar Corporate Social Responsibility In the Light of World Trajectory 89 Pankaj Kumar Roy Disclosure of the Concept of Green Banking and the Initiatives Taken by Axis Bank 93 Mousumi Basu ECONOMICS & RELATED AREAS An Analysis of Performance of Khadi in India 98 Madhurita Dey A Review of the Socioeconomic Burden of Tuberculosis on Patients and Households in India 102 Paramita Barman Sen LITERATURE Jane Austen in Popular Culture: A Study of the Film Becoming Jane 106 Poulomi Mitra The ‘Long’ Tale 110 Piyali Sarkar Rewriting Patriarchy within the 19th Century English and Bengali Advice Manuals: an Analysis 113 Nibedita Paul Towards a Broader value: A Discourse on Unified Value-Added Dr. Umasankar Saha Abstract A discourse on Unified Value-added (UVA) towards the broader value for human resource (HR) resonates with powerful economic growth (EG) focusing on human factors which tend to be characterized by economic benefits and costs. Existing models of structural change typically assume that all of the investments are done so far in agricultural and manufacturing sectors. This assumption is significantly counterfactual: since independence in India, the share of services value-added in investment expenditure has been steadily growing and it now exceeds 0.6; HR is the pivotal element for EG. According to the studies over the globe that have created counterfactual scenario, the pivotal element is HR which is being grossly exploited over the globe. The UVA approach signifies that all investment reflects value-added from all sectors. The UVA approach can remove significant counterfactual scenario. Astonishingly, the contributors of value- added are being significantly reflected in terms of the restricted employment of HR and the poor release of compensation in terms of wages. The GDP approach strategically overlooks ascertainment of the real development of HR. This discourse has been organized into five sections-Sections: I: Introduction; Section-II: Conceptual Discourse of UVA; Section-III: Global Perspectives Towards greater values; Section-IV: Discourse of UVA in the scenario of our Home state; Section-V: Concluding Observations and Suggestions. Key words : Unified Value-added (UVA)1, value-added (VA)2, value-creation (VC)3, human capital (HC)4, velocity circulation of money (VCM)5; marginal propensity to consume (MPC)6; marginal propensity to save (MPS)7, Economic Value-Added (EVA)8, Socio-Economic-Techno- Political Entrepreneurs (SETPEs)9, Endogenous Theory10, Human Development Index (HDI)11, Competitive Advantage12. Section-I : Introduction HR contributes to UVA. The benefits are derived from UVA by means of HR which have been exploited to build up various forms of capital. The counterfactual scenario is made by the GDP approach just exploiting the employment of HR in every sector of production of goods and services. The huge pool of the unemployed educated HC can be deployed through the development of the primary, secondary as well as tertiary sectors.