IEA THE INDIAN ECONOMIC ASSOCIATION

IEA NewsLetter 103rd ANNUAL CONFERENCE 16th, 17th and 18th April 2021 University of Rajasthan, Jaipur, Rajasthan

Web :http://indianeconomicassociation1917.com/ Valedictory Function of 102nd Annual Conference at Pt. Ravishankar Shukla University, Raipur.

A Snap with the Local Organising Committee after the 102nd Annual Conference of IEA

December 2020 MESSAGE FROM GENERAL SECRETARY

General Secretary Indian Economic Association No. 28, S-3, Galaxy Vasantham, 5th Main Road, Vijaya Nagar Velachery, Chennai-600042, Tamil Nadu, Mob: 9444932128 E-mail: [email protected] Dr.B.P.Chandramohan

Dear members, With a profound sense of gratitude, I extend warm greetings to the esteemed members of the Indian Economic Association family. I sincerely thank all the members for unanimously electing me as the General Secretary of the prestigious Association, deeply humbled to have been given the responsibility and the confidence bestowed on me to take up the job of the exalted forum of IEA with great pride and humility. I am well aware of the task before me and the kind of dedication with tireless efforts exerted by my predecessors to take IEA to the height of the vibrant and effervescent Association benefiting thousands of our members. The New Year 2020 exhibits a turbulent year with Covid-19 Pandemic for every human being however, I am looking forward to working with you all for betterment. The basic tenet of IEA epitomises a multi-cultural, multi-linguistic, multi- regional and mosaic structure that inevitably has profound effects on our present as well as future. In this framework, I believe the innate qualities of friendship, sincerity, trust, respect, loyalty, and fidelity, these are the main glues that hold us together as a single entity and it will continue for years, as in the past. Together with newly elected and existing Executive Committee Members, I hope to make further strides of the Association from the spectacular progress achieved in the recent past. The current scenario demands more close and active cooperation among IEA members, and to make ourselves relevant to the present context, a kind of continuous engagement is essential to make IEA more pulsating and prosperous. The enhancement of the current status of the Indian Economic Journal and setting the website of IEA to provide best services to the members are the top priorities before me at present. It is very important on the part of every member to enrol digitally by using the website which will help us to communicate with you better. It will take only five minutes to do

December 2020 December 2020 IEA Newsletter 3 so. Quick and effective communication is the need of the hour. The digital membership profile encompasses all important details of the member, and this information will help us to communicate you fast and identify resource persons among you for various seminars and other academic activities.

The on-going COVID-19 pandemic has obstructed our members from attending educational institutions and had to stay at home due to the lockdown, but still, IEA had new ways of engaging our members almost every day with IEA Webinar Lecture Series, national and international webinars and webinar panel discussions collaborating with institutions focusing on the impact of COVID-19 on the economic development of India. IEA also conducted a 15 days Research Methodology Course to the benefit of researchers. These programmes attracted robust responses from members across different states converting and sharing Webinar lectures, seminars and panel discussions as a fantastic opportunity for members to discuss, diagnose and debate current economic issues of the country. Finally friends! It is uncalled-for to say that to accomplish various stupendous tasks, I need the unstinting support and encouragement from each one of you, besides your healthy criticisms. May I take this opportunity to request all of you to proffer your Hands, Head and Heart to make this tenure very successful and memorable in the annals of IEA’s glorious history.

With warm regards B.P.Chandramohan General Secretary

Indian Economic Association Felicitating Professor Kaushik Basu, President International Economic Association for His Extensive Participation on all Days during the 102nd Annual Conference of IEA at Pt. Ravishankar Shukla University, Raipur.

4 IEA Newsletter December 2020 MESSAGE FROM PRESIDENT ASSOCIATION

Director and Vice Chancellor, IGIDR, Mumbai Former Vice Chair, International Food Policy Research Institute, Washington D.C. Former Acting Chairman of the National Statistical Commission Former Chairman, The Commission for Agricultural Costs and Prices (CACP), GOI Former Director, Centre for Economic and Social Studies (CESS), Hyderabad President elect, The Indian Society of Agricultural Economics, 2018 President elect, The Indian Society of Labour Economics, 2017

Prof. S.Mahendra Dev

Dear Colleagues, Greetings to all the members of IEA, Executive Committee Members, Vice Presidents, Joint Secretaries, General Secretary and Treasurer, former Presidents of IEA, and friends of IEA. This is my third year as President of IEA. It is a great honour to be the President of the Association, which survived hundred years so far. The credit must go to the economists of the country for their continued support. In the last hundred years, the IEA is headed by eminent economists of the country. It is the oldest and largest organisation of professional economists and policy makers in India. More than 7000 members of the Association represent teaching, research and policy making from different parts of the country. The Association is also fortunate to have committed members of the Executive Committee, which provide right directions in various activities. With the cooperation of Executive Committee and all members, General Secretary and Vice Presidents and Dr. Anil Kumar Thakur we will take the Association to greater heights in the coming years. During the last year, we had our 102nd conference at Pt. Ravishankar Shukla University, Raipur, Chhattisgarh. It was a memorable conference with excellent deliberations of high quality of lectures, panels and parallel sessions. I am grateful to Hon. Chief Minister of Chhattisgarh Shri Bhupesh Baghel for his help and encouragement in holding the conference in Raipur. Thanks to the Vice - Chancellor and his team of the University for organising the conference efficiently. Let me welcome this year’s Conference President and my dear friend Dr. Nagesh Kumar. Dr. Nagesh Kumar is Director and Head of the South and South-West Asia (SSWA) office of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) based in New Delhi. He earlier served as Chief Economist of UNESCAP and Director of Macroeconomic Policy and Development Division

December 2020 December 2020 IEA Newsletter 5 (MPDD) and Director of Social Development Division at the UNESCAP headquarters in Bangkok. He was also director of Research and Information Systems for Developing Countries at Delhi. I am happy to share with you that the 103rd Annual Conference of the IEA will be held during 16th,17th and 18th April, 2021 at the University of Rajasthan, Jaipur. The overarching theme of the conference is “Accelerating Economic Growth, Regional Balanced Development, Education and Health”. The sub - themes are: 1. Accelerating Growth; 2. Sustainable Urbanization; 3. Finance and banking; 4. Regional Disparities; and 5. Education and Technology. This year we have many challenges for the Indian economy due to Coronavirus problem. The Covid-19 has created both health crisis and economic crisis. As the President of IEA, I extend a warm invitation to all of you to attend the 103rd annual conference. Look forward to seeing you at Jaipur, Rajasthan in April 2021.

S. Mahendra Dev IEA President

Dr. Anil Kumar Thakur, Chief Convener of IEA Addressing During the Valedictory Function

6 IEA Newsletter December 2020 MESSAGE FROM PRESIDENT - CONFERENCE

Director and Head of the South and South-West Asia (SSWA) United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) New Delhi.

Dr. Nagesh Kumar

Dear IEA Members,

I feel honoured and privileged to be elected as the President of the 103rd Session of the Indian Economic Association (IEA). We have a rich legacy of IEA that is over a century old. The 103rd Session will provide an important opportunity to discuss issues and challenges that the Indian economy is facing in accelerating economic growth in the aftermath of the COVID pandemic. While all the sectors and segments have been affected adversely by the pandemic, the vulnerable sections of society including the informal sector workers, migrant workers, old and disabled persons have been at the forefront of the impact. The challenges of reviving the economy in an inclusive and sustainable manner would be an important theme for discussion. In that context, I believe that the overarching theme of the 103rd Session i.e. Accelerating Economic Growth, Balanced Regional Development and Sustainable Urbanization in the aftermath of COVID is a timely one.

I look forward to joining you all at the 103rd Session for a rich and productive discussion. In the meanwhile, I hope that you stay safe and healthy during these challenging times.

Dr. Nagesh Kumar

December 2020 December 2020 IEA Newsletter 7 MESSAGE FROM MANAGING EDITOR – INDIAN ECONOMIC JOURNAL

National University of Educational Planning & Administration 17-B, Sri Aurobindo Marg, NCERT Campus, New Delhi - 110 016 +91 (011) 26544820 [email protected]

Prof. Sudhanshu Bhushan

am writing this message when the whole world is passing through the phase of uncertainty due to the Coronavirus (Covid - 19) pandemic. In India the Union GovernmentI in its wisdom decided to clamp the lockdown for three weeks up to 14 April 2020. The political rationality and the bureaucratic rationality that follows it every time found it as the only alternative to overcome the panic created by the pandemic. Perhaps the rationality of science and technology overpowers the political rationality which, in turns overpowers the bureaucratic rationality. What about the rationality of society and the people? Does it overpowered by all rationalities today?

Anyway, I Hope overpowering rationalities succeed in finding the solution to the pandemic and the humanity is saved.

The question remains: Will the lockdown save the humanity even if it is assumed that Coronavirus will be eliminated in India in another two to three months. The lockdown for 15 days assume that everyone in India has enough purchasing power for at least 15 days to stock the food and medicine. It assumes that everyone has the shelter to live. It assumes that people in need of medical care will somehow survive for so long. Alternatively, the state machinery will facilitate these during the period of lock down. There is no estimate available of the suffering and the loss of human lives because of the wrong assumptions implicit in the policy decision. Add to this, the post corona economic effect of slowdown, of displacement, unemployment and loss of lives. This is something that cannot even be estimated, howsoever rational forecasting model we employ.

The task of the community of scholars trained in the Economics as the subject of study is so much tougher due to growing specialization, on the one hand, and building the bridge with other disciplines like science, politics, sociology etc. In the difficult times amidst Corona and post Corona the responsibilities of every Economist throughout the length and breadth of India is enormous to save the humanity, put the Indian economy on track. I am not sure how will the economy respond to the downturn? When the consumption and production has come to the bare minimum, which stimulus will work? Monetarist’s faith in monetary stimulus has defied the solution time and again. Fiscal stimulus is constrained by the availability of resources at the command of the government. It is the responsibility of the Economists to debate it even before the post Corona situations arise. Economists need to alert the political community of

8 IEA Newsletter December 2020 the effects in labour market, in the organized and unorganized sector, in manufacturing, trade, financial market, in social sectors like health and education. We need to prepare ourselves from now. May be the annual conference of Economic Association this year may come up with questions surrounding the Corona.

I feel humbled upon the faith bestowed on me by the Indian Economic Association. It is a matter of great privilege for me to join in the list of illustrious Editors of Indian Economic Journal since 1946. Such a long career is an indication of the vibrant community of scholars engaged in the discipline of Economics in India. The journal is almost the witness to the development story of the Indian economy – the post-independence foundation of industrialization in a mixed economy framework in the 1950s, the green revolution and self- dependency in the 1960s and 1970s, the initiation of liberalization in the 1980s, the structural reform of 1990s and the market led process of development in the new millennium. The journal has indeed lived to its expectation. However, I feel there are enormous challenges both in the field of Economics, in general, and for the Indian Economic Journal, in particular. Economics as a discipline has to confront the challenges of poverty, inequality, human deprivation, pollution, diseases, etc. Perhaps Economics can no longer afford to remain in an ivory tower. The theory cannot remain for its own sake. It must derive its existence from practice. It must be brought to the reality. It should remain grounded. It should build bridges with history, politics, sociology, geography and all sciences. I consider it a great challenge so far as Economics is concerned. It is also a great challenge for the Economists of present generation.

The Indian Economic Journal has enormous responsibility to confront the above noted problem of Economics as a discipline. The journal has to make an endeavour to respond to those challenges. This is possible only with the help of Indian Economic Association which represents the Economics fraternity. The journal has to reach to the doorsteps of each and every teacher and researcher in Economics. It has survived for long with your contributions and it will retain its glory with your hard work. Your association with the Indian Economic Journal is greatly valued.

At present, my first responsibility is to update the journal. There are few pending issues and I am working with SAGE, the publisher of Indian Economic Journal, to expedite the peer review process. I invite all the teachers and researchers in India and abroad to contribute your original works to the Indian Economic Journal. We are trying to initiate the time bound review process. I invite all the Heads of the Departments of Economics in colleges, universities and research institutes to encourage the younger colleagues to write papers for the journal. If you are organizing seminars and conferences, do inform me and come up with your plan to publish selected papers, or a special volume under your editorship or any other innovative ways to be associated with the journal.

Last, but not the least, the Indian Economic Journal is entering into the diamond jubilee year. This is a matter of great pride for the journal. Please come up with the suggestions to celebrate the diamond jubilee of the Indian Economic Journal. I shall remain truly humble and obedient to the cause of the quality publication in the Indian Economic Journal.

Prof. Sudhanshu Bhushan

December 2020 December 2020 IEA Newsletter 9 MESSAGE FROM THE VICE PRESIDENT- NORTH

HOD of Economics VSSD College, Kanpur-208 001 Mob: 9415330533

Dr.Devendra Awasthi

Dear Colleagues, I hope this finds you in best of health and cheerful spirits. At the outset, I wholeheartedly express my deep sense of gratitude and thanks to Dr. Anil Kumar Thakur, Chief Convenor, Indian Economic Association, for showing confidence in me and imparting sustained guidance during my tenures as Executive member, Joint Secretary, General Secretary and now as the Vice-President. I have no words to express my thanks to the fraternity of IEA for unanimously electing me as Vice President(north).I also convey my sincerest thanks to the local organizing committee, distinguished office bearers and members of the Indian Economic Association for making the 102nd Annual Conference held at Raipur, a memorable and useful event for the world of academia and policy makers. We are proud to be the oldest, the largest and only truly national association of economists with its membership base spread to all remote corners of the country from Kashmir to Kanyakumari. Our fraternity incorporates very eminent, renowned economists and policy makers on one hand and young teachers, research scholars deprived of facilities, from rural and semi urban areas on the other. Association has relentlessly worked to coordinate and benefit every member through facilitating the networking of the regional economic associations. It is an honour to mention that our distinguished members have contributed to the shaping of economic destiny of the country since more than a century. We have in a sustained manner made efforts for enhancement of academic standards in the association activities .The increased participation of Nobel laureates, eminent economists from India and abroad, in the conferences have contributed towards building a fruitful learning ecosystem. This is reflected in academic discourses in the form of contributed papers, memorial lectures, special lectures and panel discussions. Even in today’s difficult Corona times when all the activities came to a stand still,

10 IEA Newsletter December 2020 our visionary President Prof. S.Mahendra Dev and hardworking General Secretary, Dr.B.P.Chandramohan with the cooperation of Dr.S.Narayanan, National Coordinator, IEA and all the distinguished executive members, took a great initiative of organizing a series of Webinars on the present crisis and also online methodology courses. Eminent economists and experts participated in these webinars on Covid -19 impact and findings of the deliberations were sent to the government and policy makers. I feel honoured and privileged to be a member of this great organization with glorious traditions. We pledge to work in harmony to take it to greater heights. I wish you all the best and looking forward to meeting you at the Jaipur Conference. With warm regards, Dr.DEVENDRA AWASTHI

Professor S. Mahendra Dev of IEA Addressing During the Valedictory Function

Panel Discussion on Shall Make New Chhattisgarh: Strategy, Vision and Five Years Action Plan

December 2020 December 2020 IEA Newsletter 11 MESSAGE FROM THE VICE PRESIDENT-SOUTH

Development Economist (Educator, Author, Legal Expert & Motivator) Expert Committee Member – UGC, Govt. of India ADJUNCT PROFESSOR- State University of New York, Flat no. 135- North Avenue Opp: Rashtrapathi Bhavan Gateno:12 New Delhi-110001 MOB:9999605344 EMAIL:[email protected] TWEET:@DrBRamaswamy1

Prof. (DR).B. Ramaswamy

he journey of the Indian Economic Association (IEA) began in 1917. It’s Tproud moment to be part of such prestigious organization which has global impact on economic arena. The objectives of the IEA is scintillating and motivating the budding economists and bureaucrats. We are moving towards new National Education Policy of 2020, focuses on ‘how to think’, while the education system till now in the country emphasised on ‘what to think’. There were no major changes in the country’s education system over the years. As a result, instead of promoting values of curiosity and imagination, herd mentality was being encouraged. IEA is committed to march towards such progressive policies. Covid -19 encourages to promote and measure “Gross National Happiness” (GNH), which is defined as “a harmonious balance between material wellbeing and the spiritual, emotional and cultural needs of the society.” core goal of economic development should indeed be to maximise the happiness and wellbeing of current and future generations. While material wealth is clearly an essential precondition for poverty reduction, there is mounting empirical evidence that economic growth alone is an insufficient foundation for building a good society in which all citizens have the opportunities and capabilities to live fulfilling lives of dignity, creativity – and happiness. A renewed commitment to valuing and promoting human happiness and wellbeing is crucial both as a way of staying focused on a more, balanced, equitable approach to human development and as a necessary foundation for action to address the escalating ecological, economic and social challenges of climate change. For the goal of the nation’s wealth and economic development, we must work towards nation’s skill development. That brings over all comprehensive development for the growth of the country at any level.

Jai Hind.

12 IEA Newsletter December 2020 MESSAGE FROM VICE-CHANCELLOR

Vice - Chancellor University of Rajasthan Jaipur-302004

Prof. Rajiv Jain

t is indeed a matter of great privilege and pleasure for me to be associated Iwith the 103rd Annual Conference of the Indian Economic Association being hosted by the University of Rajasthan. I profusely thank Hon’ble Chief Minister of Rajasthan Sri Ashok Gahalot whose initiative has facilitated the organization of the conference on the campus of this university. Indian Economic Association is one of the oldest and the largest body of professional economists in the country. The association has earned a great reputation as a genuine forum that enabled a wide spectrum of economic thinkers, policy makers, teachers and researchers across the country to seriously deliberate on various problems confronting Indian economy and suggest solutions. I am very much confident that the deliberations will be highly fruitful and facilitate emergence of new ideas and workable solutions. The conference is being held at Jaipur in Rajasthan at a very crucial phase of corona crisis. The problems in confront the State are many and eluding solutions. I earnestly hope that the special session on the Rajasthan Economy will be able to focus on the issues in depth and offer solutions. I wish the conference a great success.

Prof . Rajiv Jain VICE-CHANCELLOR

December 2020 December 2020 IEA Newsletter 13 DEPARTMENT OF ECONOMICS UNIVERSITY OF RAJASTHAN, JAIPUR

DEPARTMENT OF ECONOMICS UNIVERSITY OF RAJASTHAN, JAIPUR Dr. S.S. Somra Phone: 0141-2711070

t gives me immense pleasure to extend to you all a very warm welcome Iin the pink-city, as organizing secretary on behalf of the Department of Economics, University of Rajasthan, Jaipur, is going to host the 103rd Indian Economic Association Annual Conference during April 2021. I trust that the forthcoming conference will be able to hold meaningful deliberations on some of the more important economic challenges facing the country more particularly under the crucial phase of Corona Crisis. India is a large country with a growing population of nearly 1.3 billion, despite significant growth and development in the past decades our country yet need to effectively tackles several issues. I hope that the three day conference shall provide an opportunity to bring economists, academicians and researchers on one platform for exchange of their experiences and valuable findings related to various aspects and come out with a set of pragmatic recommendations which can be benefit to the policy makers and planning authority in our country and as well as in the State of Rajasthan. I take this opportunity to extend a warm welcome to the President IEA, Conference President, General Secretary, Treasurer, other officials of the Association and eminent economists and the delegates. I hope the conference to be a great success. S.S.Somra Organising Secretary

14 IEA Newsletter December 2020 103rd Annual Conference of the IEA

Venue: University of Rajasthan, Jaipur Address: JLN Marg, Jaipur - 302004 Rajasthan

PATRON Prof. Rajiv Jain Vice - Chancellor University of Rajasthan Jaipur-302004

LOCAL ORGANIZING SECRETARY Prof. S.S.SOMRA Convener, Special Session on Economy of Rajasthan & Local Organizing Secretary, 103rd Annual Conference Head, Department of Economics, University of Rajasthan, Jaipur-302004. Phone: 9414654360 E-Mail: [email protected]

December 2020 December 2020 IEA Newsletter 15 Themes for the 103rd Annual Conference of the IEA 2020 OVERARCHING THEME Accelerating Economic Growth, Balanced Regional Development and Sustainable Urbanization in the aftermath of COVID-19

he slowdown of economic growth THEME - 1 Tin recent years has been further ACCELERATING ECONOMIC GROWTH: compounded by the COVID-19 pandemic TRENDS AND WAY FORWARD making the recovery even more challenging. The growth rate of Indian economy The economic growth in the past decades has decelerated consistently in the recent has also not been benefiting all the quarters years from 7 per cent achieved in 2017-18 of the economy equally and inequalities have to only 5 per cent in 2019-20. The outlook been rising. The banking and financial sector for economic growth is also clouded by the in the country has undergone tremendous outbreak of COVID-19 pandemic that has stress in the recent times with the collapse of affected all the segments and sectors of the a number of banks and financial institutions. economy. Investment rate, consumption and What policy lessons and reforms can be export growth rates decelerated over time. taken to build a robust banking and financial Gross fixed capital formation as per cent of sector for the New India. The challenges GDP declined from 34.2 per cent in 2011-12 of reviving economy in the context of the to 29.0 per cent in 2018-19. Gross domestic incipient Fourth Industrial Revolution draw savings as per cent of GDP also fell from 34.6 attention to the criticality of human resource per cent to 30.1 per cent during the same development. Finally, India also needs to period. Exports have been stagnant around address the challenges of turning the trend $300 million since 2011-12. of rapid urbanization into a more sustainable The most significant and the fastest and resilient one. The overarching theme growing sector of Indian economy are services, of the 103rd Annual Conference of the trade, hotels, transport and communication; Indian Economic Association is designed financing, insurance, real estate and business around five sub-themes covering priority to services and community, social and personal issues of contemporary national economic services account for more than 60 per cent importance. The IEA’s flagship Annual of GDP. Agriculture, forestry and fishing Economic Conference is featured an engaging constitute around 12 per cent of the output, programme consisting of keynote paper but employs more than 50 per cent of the presentations, panel discussions, endowment labour force. Manufacturing accounts for 15 lectures, memorial lectures and technical per cent of GDP, construction for another 8 sessions covering the broad themes. per cent and mining, quarrying, electricity,

16 IEA Newsletter December 2020 gas and water supply for the remaining 5 per provision of health, education, nutrition, cent. electricity, water and sewage; and provision High non-performing assets of banks of a vibrant transportation system. Migration (NPAs), low credit growth, global factors is another challenge in urban areas. particularly for trade, non-banking SUB-THEMES financial companies (NBFCs) problems,  Urban Housing low agriculture and rural incomes were  Efficient Public and Private responsible for slowdown. Construction Transportation sector also showed slowdown. Policies  Reducing Air Pollution and Preparing have to be framed to revive private sector for Climate Change investment, consumption and exports. Fiscal  Redevelopment of Slums and monetary policies of the government  Health, Nutrition and Education should also stimulate growth.  Safe Drinking Water and Solid Waste SUB-THEMES Management  COVID-19, Global Developments and  Rural-Urban Migration their Impact on India  Urban Planning, Smart Cities And  Domestic Economic Situation in the Urban Development Last Few Years  Manufacturing and Services  Policies for Exports and Trade  Monetary Policy for Inflation and THEME: III Growth BANKING AND FINANCIAL SECTOR  Fiscal Policy for Growth FOR NEW INDIA  Infrastructure Development The development of efficient banking  Health Issues and Economic Growth and financial sector is crucial for economic  Revival of Agriculture and Rural Area growth and equity. High non-performing Development assets of banks (NPAs), low credit growth, problems of non-banking financial companies THEME: II (NBFCs) are some of the reasons for economic SUSTAINABLE URBANISATION slowdown in the country. India recently For economic transformation, India completed 50 years of bank nationalization. should prepare for increasing urbanisation There has been some consolidation in public and raise quality of living in urban areas. sector banking. SDGs (Sustainable Development Goals) also NPA’s of banks have been increasing include urbanization challenges. The Goal particularly since 2013. After demonetisation, no. 11 of SDGs deal with sustainable cities. banks have to lend to large amounts to NBFCs. Some of the challenges of urbanisation are: They borrowed short term credit and started creation of adequate urban housing and lending to long term infrastructure and real office space; prevention of slum creation; estate. With the crisis in ILFS (Infrastructure reducing air pollution, municipal solid leasing and financial services), there has been waste management; provision of greenery liquidity crisis for NBFCs. It led to decline in and common spaces for outdoor activity; consumption of the economy. Cooperative

December 2020 December 2020 IEA Newsletter 17 banks also faced problems as shown by the also encouraged incentives for reduction in recent crisis in Punjab and Maharashtra regional disparities. Cooperative bank. There is a need for better State governments can take more corporate governance in banks, NBFCs and initiatives for economic development now cooperative sector. Information technology than before. Also, the role of private sector should be used for improving efficiency is becoming more important as compared in banking and financial services. The to the public sector. Apart from central government has taken some steps to revive government interventions, state level policies banking and financial sector including are crucial for attracting domestic and recapitalisation of public sector banks. It also foreign investments. The role of public policy introduced insolvency and banking code is also vital for reducing regional disparities. which helps in insolvency resolution in a time In this context, it would be interesting to bound manner. Credit growth for MSME look at changes in inter-state and intra-state sector also has to be increased. Improvement disparities and suggest policies for balanced in financial inclusion also helps the economy. regional development. SUB-THEMES SUB-THEMES  NPAs and Revival of Banking Sector  Disparities in Economic Development  Measures to Improve Non-Banking  Social Development across Regions Financial Companies  Poverty and Inequality Disparities  Cooperative Banking Problems and  15th Finance Commission Solutions Recommendations and Regional  Credit to Agriculture and MSMEs Development  Insolvency and Bankruptcy Code  Regional Pattern of Employment and  Technology and Financial Sector Migration  Financial Inclusion  Infrastructure Development across Regions THEME: IV  Case Studies of Selected States BALANCED REGIONAL DEVELOPMENT Including Intra-State Disparities The widening of inter-regional disparities  Public Policies for Reduction of in recent times has been well recognised. All Regional Disparities the earlier five year plans and the present NITI Aayog stressed the importance of balanced THEME – V regional development. Policies were designed Human Resource Development in the to provide more investments to the relatively Context of New Technological Revolution backward areas. In spite of these policies, the Providing quality education is the key existence of regional disparities is a serious for raising human development in India. The problem in India. The degree of control of goal on education under the SDGs requires central government declined in many areas ensuring inclusive and quality education due to deregulation in many sectors of the for all. Improving learning outcomes in economy. Various finance commissions education is an important part of this goal. It creates equality of opportunity for all sections

18 IEA Newsletter December 2020 of the population. This is also important for printing and robotics. Artificial intelligence reducing labour market inequalities. The and machine learning can improve the quality government has prepared a new National of education. The new technologies can also Education Policy (NEP) for both school and raise the skills of the population. higher education. One needs to examine the SUB-THEMES policies suggested by NEP. The draft report  Raising Quality of School and Higher also mentions the need for higher public Education expenditure at about 6 per cent of the GDP on  New Education Policy and School education. The NEP argues for transforming Education India’s higher education system to one of  Higher Education in New Education the globally best educational system. It also Policy proposes to establish the National Research  Role of Private and Public Schools in Foundation to fund, coordinate and promote Education research in the country. There is a need to  Privatisation of Higher Education suggest policies for improving quality in both  Financing School and Higher school and higher education. Education Technologies are important to improve  Education for Disadvantaged Groups education and skills of the population. of the Population We have to be ready to approach a fourth  New Technological Revolution and industrial revolution which includes advanced Reforms in Education manufacturing, quantum engineering, 3D  Exporting of Educational Services

SPECIAL SESSION ON ECONOMY OF RAJASTHAN

The special session of the 103rd Annual Conference will deal with the economy of Rajasthan. Papers on the theme would be invited and the papers are to be sent directly to the convener of this session.

CONVENER Dr. S.S.SOMRA Convener, Special Session on Economy of Rajasthan & Local Organizing Secretary, 103rd Annual Conference Head Department of Economics, University of Rajasthan, Jaipur-302004. Phone: 9414654360 E-Mail: [email protected]

December 2020 December 2020 IEA Newsletter 19 SUBMISSION GUIDELINES LAST DATE OF SUBMISSION OF PAPERS

Papers must reach latest by 15th March 2021. Papers received after the last date will not be considered for publication in the Special issue of the Journal. Papers submitted by members after the due date may be allowed to present only after getting permission of the Chair.

SIZE OF PAPER AND NUMBER OF COPIES

The paper should be in about 3000 words typed in Times New Roman font 12 in 1.5 space, with an abstract of about 500 words. Papers without abstracts will not be considered for publication. Articles should be typed in MS-WORD only. Research Papers on other formats, like pdf will not be considered. Kindly mention your date of birth in your forwarding letter for the easy separation of papers for selecting awards. Online paper submission is compulsory. While uploading papers online in the portal provided in the website www.indianeconomicassociation1917, authors have to keep in mind the following points. The title page should remain separate from the manuscript throughout facilitating double blind review. The manuscript should not contain any identity of the author. The title page should contain:

IMPORTANT NOTE FOR THE PAPER WRITERS

. The manuscript title . All authors’ names and affiliations . A complete address for the corresponding author, including mobile number and e-mail address acknowledgements if any . Identify which authors will present and/or attend, to the best of your knowledge as of the date of submission; . A commitment of each presenter to register by deadline, 9th April, 2021. The registration process has already began offline and online registration will be opened on 15th January. . Identify up to three content area keywords and one methodological keyword. . Confirm that you have not submitted more than 2 submissions on which you are the lead author. . Confirm that you will present at the time, date, and format scheduled by IEA. . The registration fee of the IEA member and the accompanying spouse is Rs. 2,000/- each. The registration fee of the non member is Rs.3,000/-

20 IEA Newsletter December 2020 . Identify if the first author is a student and whether this conference will be the student’s first IEA conference. . The paper contributors, including co-authors, need to also mention in their forwarding letters their Membership Number. The latest IEA’s Membership Profile 2019 will be available at IEAs Website indianeconomicassociation 1917.com for your ready reference. New applicants must mention “membership applied for” (along with the category of membership—annual or life) in the forwarding letter. Papers without membership numbers of authors and co- authors will not be considered. . The manuscript should be in English and checked for grammar and language errors. . All contributors included in your paper should properly acknowledge with referencing and citations and the accepted style of referencing. . Papers will be selected on the double-blind peer-reviewing process which will ensure that you receive developmental feedback on your paper. If the reviewers suggest advanced revisions, authors will be provided more time to revise the manuscript. In such a scenario, the publication of the manuscript will be pushed to the abstract form. . Tables, figures, and images should be properly named and of good quality. . Respond to the call for reviewers to which you will proceed following completion of your submission/s.

A hard copy of the paper containing a separate title page and manuscript as instructed earlier along with a CD should be sent to the General Secretary, latest by 15th March 2021 on the addresses given below.

General Secretary Local Organising Secretary

Dr.B.P.Chandramohan Dr.S.S.Somra Indian Economic Association, Head, Department of Economics, 28-A, S-3, Galaxy Vasantham, University of Rajasthan, 5th Main Road, Vijayanagar,Velachery Jaipur-302004. Chennai-600042, Tamil Nadu Phone: +91 94146 54360. Phone: +91 94449 32128 E-mail: [email protected] E-Mail: [email protected]

Papers on economy of Rajasthan should be sent to the convener of the session Prof.S.S.Somra

December 2020 December 2020 IEA Newsletter 21 REPORT OF THE 102ND ANNUAL CONFERENCE OF THE INDIAN ECONOMIC ASSOCIATION

he 102nd Annual Conference of the honour, dignitaries, prominent economists TIndian Economic Association was and other participants of the 102nd Annual held under the patronage of the School of Conference of the IEA. Studies in Economics, Pt. Ravishankar Shukla Prof. Koushik Basu, President, University of Raipur, Chhattisgarh from 27th International Economic Association in to 29th December 2019. The overarching his address pointed out many positives of theme of the conference was Economic Indian economy despite its slowdown. He Growth, Fiscal Federalism, Livelihoods and also mentioned the importance of making Environment. The overarching theme was India as an education hub which can earn for further categorised into the following themes: economic growth or save foreign exchange. 1. Economic growth, International Trade Shri Bhupesh Bhagel, Honourable Chief and ‘Make in India’: Global and Minister of Chhattisgarh mentioned various domestic challenges. - measures taken by the Government of 2. Rural Development: Agriculture and Chhattisgarh in increasing the economic growth Rural non-farm. of the state and improving the living standard of 3. Fiscal Federalism. the poor and tribal people in the state. 4. Livelihoods and social protection: Her Excellency Smt. Anusuiya Uikey, Jobs, universal basic income etc. the Governor of Chhattisgarh wished the 5. Environmental issues 102nd Conference of the Indian Economic Association to get all success and she was of Report on Inaugural Session the hope that the deliberations discussions of The inaugural ceremony of the 102nd the conference would be of much use to the Annual Conference of the IEA was held at delegates and the policy makers. Dindayal Upadyay Auditorium Main Hall. His Excellency, the Vice President of The session began with the welcome speech India Shri.M. Venakaiah Naidu presented of the Vice Chancellor Professor Keshari Lal the Life Time Achievement Award to Dr.Anil Verma of Pt. Ravishankar Shukla University, Kumar Thakur for the long services of him Raipur. He welcomed the Honourable Vice for the betterment of the Indian Economic President of India Shri Venkaiah Naidu, Her Association as the General Secretary Excellency the Governor of Chhattisgarh and Treasurer. The Vice President also Smt. Anusuiya Uikey, the Honourable Chief presented the second Koutilya Award to Minister of Chhattisgarh Shri. Bhupesh Bagel, Prof. B.Ramaswamy, Adjunct Professor, State Prof. Koushik Basu, President of International University of New York for his contributions Economic Association and other guests of

22 IEA Newsletter December 2020 to skill development and the mentor of for making best arrangements for the annual National education foundation. conference. He also thanked the media His Excellency, the Vice President of persons and other invited dignitaries for their India, Shri M. Venkaiah Naidu released the gracious presence in the conference. IEA membership profile 2019 and the special issues of Indian Economic Journal comprising Inaugural Address of the conference papers. The session was chaired by Prof. S. His Excellency, the Vice President of Mahendra Dev, President-IEA. Dr S. Mahendra India, Shri M. Venkaiah Naidu in his inaugural Dev, Association President spoke about IEA’s address of the 102nd Annual Conference of emergence as the largest academic body and its the Indian Economic Association pointed services to the benefits of learning and research out the significance of wealth creation for in Economics. He also discussed its link with the purpose of distributing it more among various regional and international economic the people. He stressed the need for course associations, especially collaborating with the correction in our economic policies to International Economic Association. remove poverty, illiteracy, inequalities in Dr .G. Viswanathan, Conference President the distribution of income and wealth so and Founder VIT greeted the luminaries as to achieve inclusive growth. He invited on the dais, all the Executive Committee recommendations from the academic body members and the delegates present in the of Indian Economic Association to suggest conference very warmly. During his inaugural measures to the various policies of the Indian address he elaborated the existing status and Government such as ease of doing business, the important problems confronting Indian Goods and Services Tax and other social economy with statistics in chronological and economic development programmes. order. He stressed the importance of reducing He wished the conference to come out with the wide inequalities of income and wealth various suggestions and measures to benefit currently prevalent in Indian society which the policy makers. will serve as a pre-condition for poverty Dr. Anil Kumar Thakur, the Chief alleviation. He narrated the damages of Coordinator of IEA expressed his deep corruption at all levels in the society erode sense of gratitude to His Excellency, the the growth potential of Indian economy. Vice President of India, Shri M. Venkaiah He stressed the need for conducting micro Naidu, Smt. Anusuiya Uikey, Governor studies in different parts of the country for of Chattisgarh, Shri Bhupesh Bagel, Chief solving the economic problems because India Minister of Chhattisgarh and Prof.Kaushik is a country with heterogeneous people having Basu, President, International Economic different cultures, customs and behaviour. He Association for gracing their presence in wanted IEA to recommend measures to both the inaugural session of the 102nd Annual central and state governments about various Conference. Dr.Anil Kumar Thakur put forth problems facing the country and the impact the contributions of the Vice Chancellor Prof. assessments of various schemes implemented Keshari Lal Verma and the local organising by the governments. secretary, Prof.Ravindra Brahmi and his team

December 2020 December 2020 IEA Newsletter 23 The Guest of Honour of the session was office, United Nations Economic and Social Dr. B.P.Veerabhadrappa, Vice Chancellor of Commission for Asia and the Pacific. He Kuvembu University, Shimoga, Karnataka. appreciated Dr. Kaushik Basu for unravelling The Vice Chancellor of Pt. Ravishankar Shukla strong and weak areas of Indian economy University, Prof. K.L.Verma, Vice Preisident, and he praised his excellent speech. He told Dr.B.P.Chandramohan and General Secretary that India needs to go back to the basics and and Treasurer Dr. Devendra Awasthi gave have to increase the investment not only on special address during this session. Physical capital but also on the human capital. The NSE award for the best Thesis in According to him, Physical capital implies Financial Economics, having a cash prize of the non-human assets of the company, Rs.50,000 was conferred to Mr. Sudarshan such as plant and machinery, tools and Kumar, Indian Institute Of Management, equipment, office supplies etc., that help in Ahmedabad for his Thesis on “Three Essays the process of production and human capital on Interest Rate Modeling”. This session came refers to stock of knowledge, talent, skills to an end after Local Organising Secretary and abilities brought in by the employee, to Dr. Ravindra Brahme proposing the vote of the organization. On the basis of sufficient thanks. knowledge, decision is taken to invest in the physical capital. For this purpose the Special Lecture of Prof. Kaushik Basu entrepreneur, finds out the expected returns The venue of the session was Dindayal from the range of investments and then the Upadhyay Auditorium, Main Hall and the one, generating relatively higher return is session was inaugurated by Prof. S Mahendra chosen. Therefore, the ownership of physical Dev. He introduced Prof. Koushik Basu and capital is a result of planned and conscious visualized current developments in Indian decision of the entrepreneur. Human capital economy. Mr. Biswojit Swain, Asst. Professor is not owned by the company rather rented of Gandhi Institute for Technological from employees, and so there remains an Advancement was the rapporteur of the uncertainty of being lost, when the employee session. Prof. Kaushik Basu, President, leaves the organization. The democratic International Economic Association, values create space for the debate. Professor of Economics and Carl Marks There were six questions from audience Professor of International studies, Cornell and all these were insightfully clarified by University gave an outstanding and intuitive Prof. Kaushik Basu. Finally, at the end of this lecture encompassing India’s current GDP, session, most honourable Dr.Anil Kumar Indian rural sector, the manufacturing Thakur felicitated Prof. S Mahendra Dev, sector especially the automobile sector, Prof. Kaushik Basu and Mr. Biswojit Swain. electricity growth, India’s growth rate since 1979, the global financial crisis and the crisis Report on Plenary Session management in India, the Global debt wave The keynote paper presentations were and also the Education system in India. made during the pre-lunch session on 27th The session was chaired by Dr. Nagesh December 2019 in the Dindayal Upadhyay Kumar, Director, South and South-West Asia Auditorium Main Hall of the Pt. Ravishankar

24 IEA Newsletter December 2020 Shukla University. The session was started Demonetization on the non-farm rural at 11:15 a.m. and ended at 1:30 p.m. The economy. He remarked that now-a-days rural session was chaired by Prof. Pulin B. Nayak, economy is no longer agricultural economy. former Director and Head, Delhi School of Dr.G.R. Reddy’s presentation mainly focused Economics, New Delhi. on the role of Planning Commission and There were five thematic paperNiti Ayog with regard to federal finance and presentations. The theme ‘Economic growth, its impact on Fiscal Federalism. Dr. Jeemol International Trade and Make in India: Global Unni focused her presentation on the mean and Domestic Challenges’ was discussed by real wage and bonus income among different Dr. C Veeramani, Professor, Indira Gandhi occupational groups besides Kuznets ratio. Institute of Development Research (IGIDR), Prof. K.S. Kavi Kumar in his presentation Mumbai. Dr. Himanshu, Associate Professor elaborated environment linkages of various Centre for Economic Studies and planning, economic activities in terms of air pollution, School of Social Sciences, Jawaharlal Nehru water pollution and climate change. He also University, New Delhi gave the thematic discussed the importance of climate change presentation on ‘Rural Development: adaptation in the agricultural sector and the Agriculture and Rural non-farm’. The theme impact of climate change on suicides in India. ‘Fiscal Federalism’ was deliberated by Dr. Finally, the concluding remark was given by G.R. Reddy, Advisor to the Government Dr. Pulin B. Nayak and he outlined the crux of Telengana. Dr. Jeemol Unni, Professor of each thematic presentation. of Economics and Public Policy, Amrut At the end of this session Prof. S. Mody School of Management, Ahmedabad Mahendra Dev felicitated Dr. Pulin B. Nayak, University, Ahmadabad made a presentation Dr. C Veeramani , Dr. Himanshu, Dr. G.R. on ‘Livelihoods and Social Protection: Jobs, Reddy , Dr. Jeemol Unni, Dr. K.S. Kavi Kumar Universal Basic Income etc’. Professor K.S. and Mr. Biswojit Swain. Kavi Kumar, Madras School of Economics, Chennai gave an excellent presentation Shri Chandrababu Naidu Endowment Lecture on the theme ‘Environmental Issues’. Mr. Shri Chandrababu Naidu endowment Biswojit Swain, Asst. Professor of Gandhi lecture was delivered by Dr. P.K.Joshi, Institute for Technological Advancement was President, Agricultural Economics Research the rapporteur of the session. Association (AERA) and former Director of The Chairperson Prof. Pulin B. Nayak International Food Policy Research Institute in his opening remarks narrated different for South Asia, New Delhi. The session was facets of Indian economy. Dr.Veeramani in chaired by Prof. S. Mahendra Dev, Association his presentation focused on Make in India, President, IEA and the Vice-Chancellor, Indian export Growth and discussed the Indira Gandhi Institute of Development nuances of India-China gap in manufacturing Research. Mr. Kumar Devadutta, Assistant and exports. Dr.Himanshu focused on Professor, School of Computer Engineering, rural development with special reference KIIT University acted as the rapporteur. to agriculture and non-farm sector. He Chairman of the session Prof. S. Mahendra also talked about the impact of GST and Dev in his opening remarks briefly portrayed

December 2020 December 2020 IEA Newsletter 25 the background of the endowment lecture and Prof. P.R. Brahmananda Memorial Lecture he introduced the speaker and his scholastic Professor P.R. Brahmananda Memorial approach in dealing with the issues related to Lecture of the 102nd Annual Conference agriculture and food policy. Dr.P.K Joshi in of the Indian Economic Association was his lecture stated that Indian food system has held at the Dindayal Upadhyay Auditorium, been transforming fast. Changing production Main Hall of Pt. Ravishankar Shukla and dietary systems are driven by rising University, Raipur on 28th December 2019. population, growing economy, expanding Dr.G.Viswanathan, Chancellor of VIT Vellore urbanisation, unfolding globalisation and and also the Conference President of 102nd changes in tastes and preferences. He pointed Annual Conference chaired the session. The that India is fast transforming towards a P.R. Brahmananda Memorial Lecture titled country with sustainable production and ‘Does High Performance on Productive consumption systems. Capacity Ensure Efficiency and Welfare? Production and consumption – The Case of Gujarat State’ was presented patterns diversification enhance incomes by Dr.Ravindra.H.Dholkia, Member, MPC and nutritional security. Any transformation (RBI) and Chairman, Committee on Sub- in the production system will have National Accounts (MOSPI). The rapporteur consequences on food consumption and of the session was Dr. Sandhyarani Das from nutritional security. As majority of the Berhampur University. farmers are poor and undernourished it is Dr.Ravindra H. Dholakia focused his a significant challenge to help transform lecture on achieving economic progress with the food system. Government programmes a proper definition which would be the most contribute meaningfully strengthen food desirable goal in any democratic society. He system for nutritional security. Since India said the recent debate on a strategy to achieve has already achieved production targets, the best outcome of state-level economic efforts are needed to improve distribution progress has produced some light but mostly of nutritive food, especially among the heat. The development strategy adopted in poor and undernourished, by empowering Gujarat and Kerala and the outcomes obtained them and improving diets for food and are often compared and contrasted in order nutritional security. Dietary imbalances due to learn valuable lessons in fiscal federalism to lack of purchasing power and education for state-level policies. The debate would, in and the problem of undernourishment still his view, be better informed particularly for persist despite surplus production of food institutions such as the Finance Commission commodities. if the experience of different state economies is After his presentation, he answered evaluated more comprehensively within a fair various queries raised by the audience. and broader concept of economic progress. Chairman in his concluding remarks briefed He proposed firstly to consider a proper and the production consumption linkage and he broad definition of economic progress and appreciated and thanked the speaker. then to examine the case of the state of Gujarat within such a framework comparing with All India as a unit and in some cases with Kerala.

26 IEA Newsletter December 2020 The main motive is to arrive at a meaningful education and health, as in the case of Kerala, hypothesis that can be tested later on with it is not necessary to start performing better other states experiences and then use it to even in the long run on the multifarious decide on an optimum development strategy welfare dimensions of economic progress. and fund devolution. He has examined the The session ended with presidential remark economic progress made by Gujarat in all its and a formal vote of thanks. three connotations – volume, efficiency and welfare, considering such additional aspects Vera Anstey Memorial Lecture that are generally not covered in the state The Vera Anstey Memorial lecture was level studies. It is expected to emerge with a delivered by Prof. Ashima Goyal, Professor, hypothesis about development strategy for a IGIDR, member of the Prime Minister comprehensive growth experience at the state Advisory Council and Independent Director at level. IDBI Bank. The Vera Anstey memorial lecture Five distinct growth phases are identified was held at Dindayal Upadhayay Auditorium in Gujarat by endogenously determined main Hall of Pt. Ravishankar Shukla break-points in the time series of real GSDP. University, Raipur. This session was chaired by These are: 1960-61 to 1971-72; 1971-72 to Prof. Yasodha Shanmugasundaram, former 1984-85; 1984-85 to 1999-00; 1999-00 to President, IEA and former Vice Chancellor, 2011-12; and 2011-12 to 2017-18. While Mother Teresa Women’s University, Tamil Gujarat performed better than the nation in all Nadu. The rapporteur of this session was Dr. the five phases, it is only since the third phase Anup kumar from University of Allahabad, that its ATRG crossed 6 per cent threshold; Prayagraj. and thereafter, it has further accelerated. The Chairperson introduced the The aspect of efficiency is captured by the renowned development economist Vera structural changes taking place in the state Anstey and recognized her as the supporter economy, measured by shares in total output of the study of Indian Economy. She by: (i) sectors; (ii) urban-rural areas; and (iii) mentioned her famous book ‘Economic domestic-to-external demand production. Development of India’ and this book is the The structural changes in all these three best source to understand Indian economy’s output shares are consistent with improved development problems. According to Prof. resource utilization efficiency in the state. Yasodha Shanmuga Sundaram, ‘Interaction The case of Gujarat examined in this to Economics’ is another important work paper with estimates of some of these of Prof. Ashima Goyal on Indian Economy. exclusive criteria shows that consistently high She termed Prof, Ashima Goyal as the fittest productivity performance in terms of high person to deliver Vera Anstey Memorial growth of real GSDP originating within the Lecture. Prof. Ashima Goyal is a teacher of state would lead to better performance in Macro Economics, receiver of Full Bright terms of efficiency as well as welfare aspects Scholarship and also The Hindu Business of economic progress over the longer period. Line Columnist. She started her memorial However, if a state has done well on a few lecture by remembering Vera Anstey as indicators of the social sector relating to development economist who was very much

December 2020 December 2020 IEA Newsletter 27 concerned about the economic Development shocks, sharp rise in interest and NPAs need of India. According to Prof. Goyal, ‘India is to be regulated. Policy intervention must be a country with good resources with poverty towards persistent efforts for high growth, ridden economy’. She mentioned that China private infrastructure boom and FRBM followed the policy of ‘No Reform -No and IT reforms. Private corporate saving is Growth’. Extensive structural reforms reduced increasing and that of household saving is the cost of reform however; India’s case is decreasing, so to regulate deficits, low demand different as compared to China because India and unemployment. DBT must increase and faces severe Macro Economic constraints Linkages must be reduced; Domestic demand such as oil shocks, changes in the political must be sustaining. economy of oil pricing, agricultural products Prof. Shah from Gujarat, Dr. Saukat pricing, etc. According to her in the current Ali from Dharwad Karnataka, and Prof. scenario there has been a ‘Turn Around’ Nageshwar Sharma from Jharkhand (Improvement) in the Indian economy; Net participated in the interaction. responding NPAs low to single digit, introduction of their quarries, Prof. Ashima Goyal narrated IBC (Indian Bankruptcy code) for better that Infrastructural limitation; Labour credit culture, recapitalization of Banks, reforms; Emergence of West have declined slow moving Gold liquidity schemes etc. the economic development of India & China, Movement from discretion to transparent and hence reduction in consumption demand regulated movement of money is taking place is required; Financial sector regulation is in the economy. Reforms in the case of factors required in the good time not in bad time. The of production is taking place such as intensity session was interactive based on presentation trend at the margin; Land and Labour and replies from the resource person. The reform by stealth legal simplification; State session ended by giving the concluding Competition (NITI Indices) Convergence, remarks by the chairperson. last man standing; Online land records, Collateral markets; Unutilized Industrial NSE –IEA Lecture Series park (land), Governance reform etc. NSE-IEA Lecture series on Financial What next to be done for accelerating Economics was held on 28th December, India’s economic growth? According to 2019 at 12-16 P.M in Dindayal Upadhyay Prof. Goyal for export led growth we have to Auditorium, Pt. RSU, Raipur. The theme of adopt a policy of Reduction in Consumption the lecture was Finance Commissions and (Demand) to generate exportable; Change the State Welfare. The session was chaired by Prof. terms of trade (production changes to traded V. Shanmugasundram, first Vice Chancellor, goods by using unutilized resources); import Manonmaniam Sundaranar University relatively cheaper goods. In order to absorb and also a Senior Visiting Member, Linacre the growing labour force GDP need to grow College Oxford University. The presentation at 8 per cent per annum, post reform jump in was done very effectively by Prof. Manoj private investment in mid 90s and 2000s need Panda, Former Director, Institute of Economic to be maintained, PSBs private credit and Growth, New Delhi. The Rapporteur of the corruption; food, oil bottlenecks, external session was Dr. Budhen Kumar Saikia, Joint

28 IEA Newsletter December 2020 Secretary, Indian Economic Association. responsibility. The third level local self- Some of the important report of Prof. governments – municipalities and panchayats Panda’s lecture were on the statute, structure, -provide public utility services water supply, constitutional provision, developmental sanitation, local roads, electricity etc. perspectives, central-state relationship, ways To conclude, Finance Commissions ahead for better developments and major have done a fairly good balancing job in challenges. The core thematic attributes of reducing inequalities in capabilities of states Finance Commissions of India concentrated for Public service delivery. They have always on India’s development and growth. gone through a process of consultation Prof Panda spoke that Constitution of with all stake holders maintaining ‘stability India provides for division of revenue raising and continuity that require a permanent powers and expenditure responsibilities Economic Council of Investment for states. of the governments at the level of the We may learn from organizational structure Union (Centre) and the States. Seventh of GCT council. Convergence in Centre- Schedule spells out the spheres of power state perspectives is critical for future growth and responsibilities of the two levels on of the nation with the spirit of cooperative consideration of comparative advantage at the federalism. May the spirit of consultation respective levels. States have been assigned continue and help welfare enhancement. The to carry out most of the development and lecture impressed the gathering and it came welfare oriented programmes while their tax to an end after a rejoicing vote of thanks from base is relatively small. Constitution provides the part of IEA. for the institution of the Finance Commission set up every five years to recommend transfer Panel Discussion on Direct Benefit of part of the revenue collected by the union Transfer (DBT) of Agricultural Subsidies to the states (Article 280) As a part of the 102nd Annual Conference States have the authority to raise of the Indian Economic Association held at revenue which generally have lower base Pt. Ravishankar Shukla University, Raipur, and are less buoyant: sales tax, stamp duties, Chhattisgarh between December 27 and 29, entertainment tax, and land revenue. On 2019, a panel discussion was there in the the expenditure side, the Centre has the third day (29th December, 2019) on “DBT responsibility for areas of national importance of Agricultural Subsidies” sponsored by the such as defence, foreign affairs, foreign trade, IFPRI. The session was chaired by Professor money and banking, inter-state transport P.K.Joshi. and communication. State governments have Dr. Anjani Kumar from IFPRI introduced the primary responsibility for law and order, the topic of discussion, its background and agricultural and industrial development, welcomed the resource persons/panellists intra-state roads, electricity, health, education and participants for the discussion. Dr. and other social sector services. In addition, Anjani Kumar said there has been a shift from both central and state governments are subsidies to Direct Benefit Transfer (DBT). responsible for provisioning services in Different states introduced the scheme in the concurrent list: both Centre and States different names. He cautioned that it needs

December 2020 December 2020 IEA Newsletter 29 to be understood to ensure inclusiveness of the scheme, there needs to target the actual like other DBTs such as LPG subsidy and and deserving beneficiaries and devising a maternity benefits. This DBT reduces the suitable criteria for identifying the actual leakages and too much meddling with the beneficiaries is a challenging task ahead of administrative machinery. This DBT ensures the implementation of DBT. He commented the identity of beneficiaries and removes subsidies are not productive as investment ghost beneficiaries. But there are many and heavy subsidies distorting the farm studies on the DBT in gas subsidies and other sector. Hidden costs related to input subsidies receipts through banks. But there are no have much environmental impacts and once serious studies at the state level – state wise subsidies are introduced, it is very difficult DBT on agricultural subsidies. We need to to reverse. He cited a few examples from understand the issues in the transfer of funds Andhra Pradesh and Rajasthan. He further to farmers through DBT. In the DBT, we are commented that from PM Kisan Yojana, only moving to new system/mechanism of transfer farmers and people with land will benefit and funds to farmers directly by removing the not landless. Another issue of farm subsidy is intermediaries. related to WTO provisions. The Chair, Professor P.K Joshi Next speaker in the panel was Dr. emphasized the need for transforming Indian Arabinda Padhee from ICRISAT. He spoke economy and to transform Indian economy, on the topic “Implementing DBT for we need to transform the agricultural Fertilizers: Challenges and Opportunities”. sector. He mentioned about Kaliya scheme He also mentioned the historical perspective of Orissa for DBT. There are three ways of fertilizer subsidies. Now fertilizer subsidy for transferring funds to the needy and crossed 1 lakh crore. He mentioned about deserving. One is subsidy, second DBT and fertilizer control orders. He stated that DBT the third, income support scheme. DBT and is not full DBT because the farmers are not its delivery mechanism have been tested in paying the full market price. However, the many countries. He emphasized on the need issue identifying beneficiaries is a challenge for a system removing the leakages prior and the beneficiaries are to be defined through to the introduction of DBT. He suggested a comprehensive information management JAM – Jan Dhan, Aadhar and Mobile – for system. strengthening the delivery mechanism. It will Dr. Deepak Vaishnavi presented his study help in identifying the deserving beneficiaries on the impact of PM Kisan Yojana. He cited for DBT. There are certain conditions for lack of information and lack of adequate credit ensuring the success of DBT. for agricultural purpose for poor infusion of The first speaker in the panel discussion technology. The presentation detailed the was Dr. Pratap S. Birthal from ICAR-NIAP. impact of agricultural extension programme He spoke on the theme “Agricultural Income and Kisan Vikas Yojana (KVY). His study was Support Schemes: Advantages and Challenges. based on primary level data in UP considering This DBT has been a paradigm shift in the many factors of PM Kisan Yojana. There was transfer of finance from government to the discussion on country wise experience of cash farmers. For the successful implementation transfers and it is commented that no country

30 IEA Newsletter December 2020 never ever had unconditional cash transfers. analytics and Machine leaning can change It is said that India has not reached to a level of the traditional teaching methods done across unconditional cash transfers. Unconditional universities as we can be more creative with big cash transfers may divert farm money to non- data analytics. As the country becomes more agricultural use and defeats the purpose. The digital there is an explosion of digital traces issue considering and dealing with formal created in the country. The Private sector is and informal tenancy system of deciding on a big user of big data as it provides three V’s cash transfers was cited as another challenge. namely Volume, Velocity and Variety to the Considering all along with political feasibility, user. With this large data we can repurpose economic costs are also to be considered. the data to answer our varied interests. Shri. Sanjay Prasad in his presentation The panel discussion on Artificial highlighted how big data analytics can be Intelligence and Big Data Analytics used in the banking sector in the country. This panel discussion was sponsored Banking data has large volume and a lot of by IGIDR, Mumbai, was chaired by innovations are possible with this data. There Prof, Biswajith Chatterjee of Jadavpur are specialised tools and techniques available University and the panellists were Professor in the banking sector to deal with large data Chandrasekhar, IGIDR, Prof. Subrata Sarkar such as R, Python, and adobe architecture. IGIDR, Shri Sanjay Prasad, Shri. Bappaditya The data can be numeric, test and volume Mukhopadhyay and the Rapporteur for the with high frequency. session was Dr. Sarath Chandran. Artificial Intelligence and Machine Professor Mahendra Dev President IEA Learning are very important in the banking and Director IGIDR, Mumbai welcomed the sector in the following areas such as Fraud panellists and informed that IGIDR along and Cybersecurity, Risk Management, with Wales foundation is carrying out a Compliance, Customer Service, Financing project on how to use Big data Analytics and and Loans, Wealth Management. Big Machine Learning in subjects like Economics data analytics will help to make sense, and evaluate developmental projects. IGIDR comprehend, Act and Learn from the large is sponsoring this important panel discussion database available to the banks. as an important outreach activity to popularise As the big data analytics emerge, many this emerging knowledge. corporates are building digital workforce Professor Biswajith Chatterjee in his capabilities using range of Artificial opening remark mentioned that the topic Intelligence Capabilities. Using Big data of discussion is very important and this analytics banks can enhance customer type of analysis can be supplementary to experience, detect Fraud and improve cyber conventional methods of research carried out security and make Analysis of data to make in subjects like Economics. sense of data. Professor Chandrasekhar from IGIDR R software is widely used in the big started with an overview of how this topic data analytics. R software has number of is important and emerging in many areas advantages over other software. R software of research. He outlined that Big data can easily relate to other software, there is a

December 2020 December 2020 IEA Newsletter 31 vast community generating codes, there are in machine learning we interested to know support extensions, extremely comprehensive, what are the information generally enter in Y flexible, can create outstanding graphs, hat. advanced statistical language, cross platform 2. In SDG goal 11 urban SDGs is measured compatibility and above all it is available in through Satellite Imagery unstructured data. open source. 3. Text is an important data in big data Professor Subrata Sarkar in his analytics and plays an important role. presentation outlined why big data analytics Prof. Mahendra Dev in his intervention is important in a subject like economics. said big data analytics has many uses such He said in traditional econometrics the as detecting frauds in banks and understand functional form is specified and the pattern is agricultural cropping pattern in the country given by the theory. But in big data analytics and the applications are increasing rapidly. the structural form is not required and the Panel presentation is followed by patterns of relationship can be analysed and discussion. Professor Biswajith Chatterjee understood without functional forms. He asked whether big data analysis can be used in said the the traditional econometrics can finance particularly measuring the volatility. survive with prediction alone but to know the Prof. K.M. Naidu wanted to know how far explanatory variables also. The big data can Artificial Intelligence and Big data can go to be graphs/ images, text, audio and video also. University and school curriculum. Shri. Bappaditya Mukhopadhyaya Professor V. Shanmugasundaram opined in his presentation explains how satellite that the panel discussion was very relevant imagery can solve Development Economics and the statistics should be used morally. Shri. problem. He cited the example of Mutual Sanjay informed that there are new ways of Fund Institutions default reduction depends learning econometrics including R software on agricultural prosperity and to understand using online platforms. Devdatta enquired agricultural prosperity in region satellite whether hoarding can be detected using AI/ imagery can be used. He explained the how ML imagery analysis. satellite imagery was analysed using big Professor Biswajit Chatterjee wanted to data analytics to study water inundation of know any relationship between Random trial Mushumi island in the Sundarbans of West methods and Big data analytics. Dr. Majolie Bengal. The QGIS technique used in the study wanted to know how data privacy issues can used remote sensing data, satellite image, be addressed in AI/ML analysis. Questions satellites, pixels and bands. He also said were also asked whether AI/ML can be used the study can be further extended to know to find out what type of agriculture is most environmental quality and crime detection in suitable for a particular type of land. the area. After a lively discussion, the chairman Prof. Chandrasekhar concluded the panel of the panel Professor Biswajith Chatterjee presentation by highlighting three important concluded the panel discussion. In his points concluding remarks professor Biswajith 1. In the traditional OLS estimation the Chatterjee highlighted that wherever primary researcher is interested to estimate the β. But data collection is difficult and not feasible,

32 IEA Newsletter December 2020 big data analytics can be made to collect data Rabinder Prasad in his paper discussed at the disaggregate level. He said big data issues under the title Paradigm shifts in the analytics is emerging as an important area, monetary Policy of India to attain symmetry Universities should conduct workshops and between growth and inflation this paper hands-on training in this specialized area for belong to the category of an exploratory creating awareness and familiarity. analysis. Dr. Kishor P.Kadam’s paper entitled Technical Sessions-1 Impact of Trade Liberalization on Economic Economic Growth, International Trade of India analysed the relationship between and ‘Make in India’: Global and Domestic liberalization and trade and economic growth Challenges has long been a subject in the economic There was a parallel session conducted growth literature. The study is analytical in under the theme “Economic Growth, nature and exclusively based on secondary International Trade and ‘Make in India’: data which has been collected from online Global and Domestic Challenges” in Hall- sources from Handbook of Statistics on the II of the Dindayal Upadhyay Auditorium. Indian economy, RBI for the period 1970-71 The following were the details of paper to 2016-17. presentations. Dr. Bimlesh Singh, Jai Prakash Yadav in Dr. Anup Kumar, Dr. Dharmnath their joint paper India-South Africa Economic Uraon, Dinesh Kumar in their joint paper Relations: An Assessment through Trilateral titled “An Analysis of India-ASEAN Trade Trade discussed the growth and nuances of Relation: Pre & and Post AIFTA discussed India’s trade with African countries. the trade growth after the global financial Dr. Budhan Kumar Saikia, A.K. Neog in crisis and the measures taken by India and their paper titled ‘‘Make in India, Act East ASEAN countries. The study was based on Policy and Development Strategy for North the secondary data obtained from various East Region” inferred that people of the NER sources. are famous for their hospitality. The region Dr. Dolly Sunny, Prof. Harsh Shukla has a good English educated workforce. With in their paper entitled “Is There a Linkage higher share of working age population, the Between Economic Growth and Employment region is entering into demographics gift Generation? An Analysis of Indian Economy phase. at Disaggregate Level in the Post Reform Period” employed mainly from the Reserve Parallel Session: Edited Book- Economic Bank of India data and derived the compound Growth, International Trade and ‘Make in Annual Growth Rate of the selected variables. India’: Global and Domestic Challenges They inferred that the economic growth did The Parallel session on theme under not result in equal in equal distribution of edited book category “Economic Growth income as expected by the policy makers in International Trade and Make in India: Global the post liberalization period. The increased and Domestic Challenges” of the conference’s competition forced the firms to substitute full papers of 102nd Annual Conference of the capital for labour. Indian Economic Association held on 29th

December 2020 December 2020 IEA Newsletter 33 December, 2019 at Pt. Ravishankar Shukla also pointed out that there is a decline in University, Raipur Chhattisgarh. Dr. Nasir employment growth and there has been a low Khan of Sir MV Govt arts and commerce rate of investment. college, Bhadravati acted as the rapporteur of The next paper is co-authored by the session. Subhendra Dutta, Arun Kumar And Rashmi The conference drew a wide array of Ranjan has underlined the importance of luminaries, delegates, and participants from economic growth. The study pointed out the public, private individuals, business that the main problem of economic growth persons and members of the civil society generation is fragmented constitutional sectors in India and beyond. It had as many assignments, poor administration etc. these as five papers for presentation, highlighting areas are seeking urgent reforms to create the various aspects of a concerned theme. development. The session was chaired by Dr.V.Loganathan, The next presentation was by Suresh and co-chaired by Dr.K. Madhubabu and Kumar Patel on India – ASEAN Trade Links: Dr. Subodh Kumar Sinha. The chairman, Constraints and Challenges in India. The before initiating the proceedings, welcomed author expressed that some components the paper presenters and expressed the of physical infrastructure have made good importance and different aspects of the topic. progress in terms of growth in India, but The presented papers touched upon and hard infrastructure is not sufficient to meet contributed to various aspects of the themes. the expected level. His presentation takes Alok Kumar Yadav in his joint paper into account several concerns, and he agrees with Dr. Umesh Chandra Yadav on the topic to key amendments demanded from each “Indo-Oman trade in the era of globalization” corner on the key proposed provisions of the has highlighted the relationship between development. economic growth and bilateral relationships. Dhiraj Kumar Bandopadhaye in his paper’ The paper is technically sound and has used Dynamics of Balance of Payments in India” many techniques to prove results. discussed the impact and explained about the The next presentation was on the topic foreign trade facilities, the dissemination of “significance of foreign direct investment technical knowledge, transmission of ideas in India “by K. Mohan Reddy. The study and import of knowhow in Indian scenario. attempted to measure foreign direct Even though there were divergent investment in India by using correlation views emerging from the presentations and technique. The presented paper pin pointed participants’, the enthusiasm of the speakers that wide disparities were observed in the was laudable. level FDI flow between different specific states of India. Theme 2: Parallel Session- Rural Development: A paper by Vigneshwara Swamy on Agriculture and Rural Non- Farm what factors influence on public debt during Dr. Sacheen Aloney and Dr. Tejaswini coalition regime has expressed that there has presented in their paper a study on is an overall public debt in India and it has “Agriculture and Non-Farm Landless Rural increased to an uncontrollable extent. He Women Labourers in Karnataka” that during

34 IEA Newsletter December 2020 the current situation of the agrarian crisis in Odisha. They also mentioned that high value the state, the agricultural women labourers crop diversification has increased by 2% in are living in a deplorable condition, their 2001-2002. In infrastructure in high yielding income level is too low to cover their domestic variety and in the uses of fertilizer there is needs. This has led to a higher incidence of a significant change observed in the year poverty and indebtedness among them. It has of 2011. Fertilizer plays a significant role in also been observed that a greater proportion high yielding variety of crop diversification. of the debt has been raised for consumption Economically backward areas are having purposes only. Since for the last few more crop diversification than other areas. decades, the state support to the agricultural 1. Debjani Mitra nicely discussed about sector is being curtailed leading to a crisis the agricultural sustainability in India. she like situation in this particular sector, the discussed that the share of GDP has decreased agricultural women labourers are the first from 1992 to 1991. She mentioned that for to suffer. The sluggish state in agriculture sustainable farming crop diversification, has not only led to stagnation in real wages waste management and water management of the agricultural women labourers but are necessary. She also compared period 1 and also fragmentation of land holdings which period 2 regarding the food grains production. means that the agricultural women labourers 2. Dr.Dhanalakshmi Pattnaik in her paper in the state are now working on reduced “Rural Non-Farm Sector in Orissa- A Special size of farms which further constrains their Focus on Ganjam District” mentioned that bargaining strength. At the same time, more people have joined in rural non-farm the structural transformation in the state sector and very less joined the construction is slower as compared to the other states sector. But the problems remain in the non- in the top income bracket of the country. farm sector need to be addressed through Thus, the agriculture women labourers in vocational education, awareness creation and rural Karnataka keep working on nearly poverty reduction which will arrest migration stagnant real wages due to lack of other better of people from rural to urban areas. However, alternative employment opportunities. This it has been observed that migration to non- means that they keep working under adverse farm sector is very significant in recent years. economic condition without any employment Income has increased for those who have and income security. This has also been found joined the non-farm sectors. by the authors that the level of indebtedness 3. Dr. Nilesh Kumar Tiwari has discussed among the agricultural labour households is the promotion of sustainable tourism. He positively associated with the ratio of non- mentioned in his paper about the 4 T’s that is institutional to institutional loans. the Talent, Trade, Technology and Travelling Dr. Chittaranjan Nayak and Mr. need to be adopted by the tourism sector for its Chinmaya Ranjan Kumar has discussed promotion. He also mentioned the change in nicely in their paper about what determine policy decision regarding tourism. Moreover, crop diversification, an evidence from he discussed that the tourism services can be Odisha. They concluded that cropenhanced with the inclusion of the diversified diversification is higher is southern part of cultural and natural products.

December 2020 December 2020 IEA Newsletter 35 4. Prof. Pranay Roy Burman has in India. This Study pointed the role of nature discussed in his paper “Uses of Technology based solutions and behavioural approach in in Rain Fed Agriculture” that emphasis the tackling various agricultural problems for should be given on the cultivation of drought sustainable agriculture. resistance crop and also on agroforestry. Dr.Samit L. Mahore made an elaborate Moreover, he emphasized to developed presentation to highlight the regional agri-horticulture, agri-pishiculture. He imbalances among different regions of the also mentioned about agro meteorological Maharashtra State. The paper presenter analysis that needs to be carried out for suggested the necessity for more and more making the agricultural products more cost investment in the lagged division for extension effective, he also mentioned about water of public and private easy and timely credit harvesting system- its cost storage and cist in remote rural areas for agriculture crops to of run-off, improvement of crop planning, solve regional imbalance in Maharashtra. proper utilization of agro fertilizer, modified The topic presentation by Karimulla methods of sowing, application of organic and Susheel Kumar was by the name of Rural matters, emphasis on pulses and oil seed Development and Financial Inclusion in India: production, inter cropping and double An Empirical Analysis of ITC Effect. This cropping, intensification of cropping etc. study suggested that the government should He also mentioned about the efficient weed adopt the information and communication management, tillage system, crop residuals technology as a major means of expanding management etc. He also mentioned about the financial services to the poor and rural localized specific researches to optimize people. utilization under rain fed condition and about Dr.Smt.Prabha Bhatt and Dr. Seema deep cultivation, spray fertilization etc. Shrivastava presented a paper on linkages of farm and non-farm sector in India. This Rural Development: Agriculture and Rural case study was dedicated to show the farm Non-Farm –Edited Book and non- farm linkages. Study emphasized Dr.Sudip Jana acted as the Rapporteur the importance of Food Processing Industry for the edited book session on Rural (FPI). The study also pinpointed that the state Development: Agriculture and Rural Non- intervention is necessary to reduce exports of Farm held on 29th December, 2019. There agri-produce to other regions, by setting up were eight paper presenters in this parallel resource based FPI in the state and product session. This session was chaired by Prof. Niti quality must be improved in order to generate Jain and co-chaired by Prof. Bharat R. Shah. demand as FPI is a demand-based industry. The session started with an introductory The Paper entitled ‘Small Millet remark of the both chair and co- chair Cultivation: An Opportunity for Tribal emphasizing the need for agricultural and Community of Odisha’ was presented by rural non-farm sector for rural development. Nispesita Manjari Jena. The paper highlighted Dr. S. K. Prakash presented a paper on the socio-economic status as well as various educated nature-based solutions to farmers constraints faced by millet grow to conserve, for sustainable agriculture and food security cultivate and consume as well as adopt

36 IEA Newsletter December 2020 improved package of practices for better 3. Fiscal Federalism production. The study also suggested that The afternoon session of the second day of NGOs -GOs-POs collaboration will be helpful annual conference of IEA on the theme Fiscal for the implementing different innovation in Federalism was held at Dindayal Upadhyay the form of millet conservation, cultivation auditorium. The session was chaired by Prof. and consumption. T.K. Shandiliya, former President of IEA Dr. Sudhanshu Shekhar Mahato in and the Principal of Commerce, Arts and his conceptual paper ‘Lac cultivation: A Science College, Patna. The session was co- Supplementary Source of Livelihood in chaired by Dr. Abhishek Kumar, Associate Eastern Bordering Regions of Jharkhand’ Professor, KIIT University, Bhubaneswar. has endeavoured to identify, how the Lac Dr. Dharmnath Uraon from University of cultivation in Eastern Bordering regions Allahabad was the rapporteur of this session. of Jharkhand have been serving as an In this session the following authors presented supplementary economy to tackle the their paper and answered the queries raised economic burden that people in that region by the audience as well as the chair and co- faces. This paper suggested that indigenous chairperson of the session. mode of cultivation must be replaced by 1. Mr. Ashok Bhukta, Research Scholar scientific technique to enhance the production and Prof. Sudhakar Patra, Professor of both in quantity and quality. economics, Department of Economics, A paper on Doubling Farmers’ Income: Berhampur University, Odisha presented Way-out of Bihar was presented by Dr. Manoj their paper entitled, ‘’Linkages Between Prabhakar in which he pointed out that Expenditure on Health and Education in feasibility of doubling farmers’ income in the India: Dynamic Econometric Approach state like Bihar, where there are large numbers through Lag Models.’’ His presentation was of small and marginal farmers having very low applauded. He had analyzed the relationship level of income, doing sustainable agriculture among health, education, enrollment rate and suggests ways to come out from the with public expenditure by using several quagmire for the state. econometric tools and statistic. He has also The topic presentation of Prof. Kanhaiya used different types of graphs, statistical Ahuja was agricultural development in tools like correlation coefficient, regression Madhya Pradesh. This study emphasized the coefficient, standard error, coefficient of importance of sustainable development and determination, Durbin Watson statistic. At the infrastructural development in agriculture. end of his presentation, put conclusions that The session was enriched with an the objective of ‘universal primary education’ interactive session where all the presenters is directly related with the health of children. logically answered the queries raised. The Health and education are mutually related to chair also made valuable comments on each other. The improvement in one leads to each paper and gave valuable suggestions the improvement in another. Education leads to improve the presentation in much more to the development of people, while health effective manner. The session ended with a ensures the efficiency and sustainability of vote of thanks to the chair and presenters. people.

December 2020 December 2020 IEA Newsletter 37 2. Mrs. Kabita Kumari Sahu, Assistant upliftment. The presentation was divided in Professor of Economics, North Orissa three sections, first one was introduction with University, Baripada, Odisha, presented her research issues, objectives and methodology, paper entitled, “Pattern and Composition second one empirical analysis and last was of Education Expenditure in India.” She has suggestion and policy recommendations. put the budgetary allocation to education Some quarries was asked by the audience and sector under different five year plans, recent answered by the research in polite manner. trend of HRD budget and central budget 4. Dr. Chittaranjan Nayak, Assistant Linkage between public expenditure on Professor of Economics, Ravenshaw education and GDP (by regression equation) University, Cuttack presented his paper in and expenditure on education as percent to very decent manner in certain sequences. GSDP. In concluding part of her presentation The title of the paper, ‘Political Economy of conferred that education expenditure is a Non-Statutory Transfers in India with special necessary but not sufficient condition for reference to poorer states.’ The paper was economic growth. Even though education based on annual data for the time period 2001 expenditure starts to influence growth to 2012 for all the Indian state. The research positively during the post-liberalisation era, was put an analytical and descriptive view of however the effect seems to be quite low determinants of non-statutory transfers of which probably reflects the poor quality of the funds. He put the summary & conclusions Indian public education system, especially at that the paper makes an attempt to focus the school level. A higher financial provision on some emerging issues of federal fiscal in the budget is needed for providing transfer motivated from political economic quality education to reap the benefits of the perspective. The study finds existence of demographic dividend. The Government significant gap in non-statutory transfers should channel its education expenditure between special category and non-special towards more productive expenditure such category states. The paper argues for greater as research and development, procurement formula-based transfers and proper co- of adequate learning facilities as well as ordination among resource transferring establishment of vocational training centers agencies in designing weights and criteria which will further lead to the economic to ensure objectivity. The interaction session growth of India. was lead by Co-chair Dr. Abhishek Kumar in 3. Dr. Nasir Khan, Assistant Professor of the form of suggestions. economics, M.V. Govt. Arts and Commerce 5. Dr. Raviraj Singh, Assistant Professor college, New town, Bhadravathi, Karnataka of Economics, Chaudhari Charan Singh has present his paper on, “An Empirical University, U.P. has presented paper entitled, Analysis of Government Expenditures on “Impact of Fiscal Transfers on the Panchayati Health, Education, Water and Sanitation Raj Institutions (Special Reference to U.P.)”, in India.” He put toward the analytical The key theme of this paper was the impact of approach of the Government Expenditure fiscal transfers on PRIs of Uttar Pradesh and on health, education, water and sanitation to examine whether fiscal transfer mechanism which plays an important role in economic subsequent to the 12th Finance Commission

38 IEA Newsletter December 2020 recommendations improve Panchayats’ of action and ways of presentation. Thus, sources of revenue or not. By using Compound this session has ended with thanks and well annual growth rate (CGAR) author put the wishes for New Year 2020. trend and pattern of own source revenue of PRIs (Jila Parishad and Kshetra Panchayats). 4 A. Livelihoods and Social Protection: Jobs He concluded his paper by findings that the Universal Basic Income increased allocations under scheme transfers The technical session of full papers on have made the Gram Panchayats lethargic the theme “Livelihood and Social Protection: in searching and utilizing own source of Jobs Universal Basic Income etc” was chaired revenue. by Prof. S. Galab,visiting professor, CESS 6. Dr. Satyapriya H. Indurwade, Hyderabad and co-chaired by Dr.D B Usha Associate Professor of economics, RTM Rani, associate professor, Ethiraj College Nagpur University, Nagpur, Pratibha K. R. Chennai. The chairman before initiating the HOD, Department of Economics, Indira proceedings welcomed the paper presenters Gandhi College for women, Sagar, Karnataka and expressed the importance and different and Dr. Renuka Bai V. Assistant Professor of aspects of the topic. The presented papers economics, Nanjangudu, Mysore, Karnataka touched upon and contributed to various have presented their paper jointly. The paper aspects of the different themes. was entitled, ‘Does Government expenditure Dr. Mukund Kumar presented a on Health has any impact on achieving social paper entitled “An Empirical Analysis on responsibility in India?’ They analysed the Understanding the Indian Perspective of broad dimension of Govt expenditure on Retirement Consumption Puzzle’’ studied health in India. the possible factors responsible for decrease 7. Dr. Sharanappa Saidapur, Asst. in the post retirement consumption Professor of Economics, Govt. first Grade expenditure. The study was based on primary College, Chittapur-585211, has present his data collected from retired people. Paper paper entitled, ‘Evaluation and Impact of GST said that voluntarily retired, post retirement on Indian Economy: Policy Perspective.” He consumption seems to be smoother than that tried to elaborate the impact of GST on Indian of involuntarily retired. Economy, for this he showed the data of India Dr. Sanjay Kumar in his joint paper with and other countries who are implementing Kumari Manisha entitled “An Empirical the GST in their economy. Since, GST started Analysis on the Situation of Women Work in India very late so the actual impact cannot Force in Bihar with Reference to Muzaffarpur be evaluated. In last section, he recommended District” studied the status of women some suggestions. Few questions were asked employment in unorganised sector in relation by the audiences and wisely answered by the to the women empowerment. He highlighted paper writer. the problems faced by women in unorganised At the end of the session concluding sector. remark put by the Co-chair and Chairperson of Dr. Debasis Mukhopadhyay presented the Session. They put forward some important a paper entitled “ On the Lookout for the suggestions to the presenter for future course Relevance of Labour Laws and Regulations

December 2020 December 2020 IEA Newsletter 39 Relating to Social Security in India” gives a the challenges encountered by Indian women snapshot on the relevance of labour laws and entrepreneurs. The paper found that women regulations in India for the organised as well entrepreneurship is concentrated in five states as unorganised sector. in India. Dr. R. Rajesh Kanna in his joint paper Livelihoods and social protection: Jobs, with A Abdul Reheen entitled “Tribal Women’s universal basic income etc. Empowerment and Livelihood status in India: Technical session of contributed papers An Overview” studied socio-economic status theme 4, “Livelihoods and Social Protection: of tribal women in India. The paper found Jobs, Universal Basic Income etc.” was that NGOs give opportunity to tribal women held in the Department of Geography at to enhance their economic strength and social Pt.Ravishankar Shukla University, Raipur status. at 11.45 AM on 29th December 2019. The Dr. Premananda Sethy presented a paper technical session of full papers on the theme entitled “Changing Structure of Occupation “Livelihoods and Social Protection: Jobs, in KBK Districts of Odisha” studied changing Universal Basic Income etc.” was chaired by structure of occupation from agricultural Professor A.R. Veeramani and co-chaired by sector to non-agricultural sectors in Kalahadi, Professor S.S.S. Chauhan. The rapporteur of Balangir and Koraput districts of Odisha. the session was Prof. Vijay Nag. The chairman, Anjani Kumar Tiwari in his joint paper with before initiating the proceedings, welcomed Niti Jain entitled “Socio-Economic Conditions the paper presenters and explained the and Impact of Migration on Rural Labour Force importance of different aspects of the topic. of Chhattisgarh: A Study of Bilaspur District” Sanjay Kumar presented his paper highlited the causes of migration of rural labour entitled “Public Provisioning for Inclusive force and suggested that government can help Education in India with special reference these rural force to stay in their villages. to BIMARU States” The paper studied Venkata N.C. Mushinada presented a recent growth of BIMARU states and found paper entitled “Social Protection, Insurance out that in gross enrollment rate there is Sector and Economic Growth in India” studied convergence among states but in female the causal relationship between development literacy, pupil teacher ratio and ICT variables of insurance sector and economic growth. there is divergence among states. The paper The paper found that there is bidirectional concluded with the observation that overall causality between the major insurance sector there is convergence among states and the development indicators and GDP. public provision on education is functioning. Dr Rash Bihari Rai presented a paper Dr. Nand Kumar Baburao Bodgire entitled “Right to Education Act 2009: A followed with his excellent presentation on Critical Study” focused on different problems “Mapping the Multidimensional Poverty associated with schools as well as students. Index of Tribal Women: A Special Reference Dr. Asha Begum in her joint paper with to Kinwat Taluka in Nanded District”. M. Koteswara Rao, presented paper entitled Using quota sampling of tribal women “Creating an Enabling Environment for households of twenty two villages of acute Women’s Entrepreneurship in India” studied poverty, the multidimensional poverty index

40 IEA Newsletter December 2020 using variables from education, health etc successfully in the Seminar Hall, SoS in was constructed and analysed. The paper Anthropology at Pt Ravishankar Shukla observed that although there is improvement University, Raipur. The participants presented in education and health of tribal women, the paper based on environmental issues. tribal women is living in acute poverty and Mr Pabitra Singh presented the paper on their standard of living is very poor. Some ‘Environmental Pollution and Health Impacts villages are doing better than others and there of Coal Mining in Odisha’. An excellent is disparity in standard of living. presentation of Mr Singh emphasised on the Dr. Vijay Nag presented his paper impact of environment on health. His study entitled “Disparity in Development of related to coal mining of Odisha. The major Infrastructure in Himachal Pradesh: District concerned of his paper are – The relationship Wise Analysis”. The paper studied the between the environment, ecology and relationship between the different components economic development. The effect of of infrastructure and the nature of economic pollution on the rate of economic growth growth in the districts of Himachal Pradesh. GDP per capita, bad impact on biodiversity The index of infrastructure constructed using loss, decrease in agriculture production and principal components method for commercial, productivity, negatively health impact like financial and human infrastructure was related different types of diseases, proper utilisation to sector wise growth. The paper highlighted of fly ash, air quality, water pollution and that the agriculture growth is positively related soil pollution etc. He also emphasised the to financial and commercial infrastructure Sustainable Development Goals and try and the relationship is statistically significant. to mitigate the environmental problem by And the industrial growth is positively related emphasising on more plantation, reinvest to commercial and human infrastructure and pollutant, carbon capture storage to control the relationship is also statistically significant. possible damage, installation of pollution The paper concluded with the observation saving technology and low carbon emission that the inter district differences in economic strategy. growth is positively and significantly related The other important paper presented by to inter district disparity in development of Sourav Kumar Das on ‘Global Warming – A infrastructure. Grave Threat to Ecology’ emphasised that in The chair and the co-chair of the India pollution remains a major challenge session gave various suggestions to the and opportunity. The environmental paper presenters and the co-chair Prof. S.S.S. degradation because of global warming badly Chauhan interacted with the participants and impact on health and long-term livelihood explained the complete meaning of livelihood. of the people of the country. He emphasised The organizers felicitated the chair, co-chair that rapid population growth and economic and the rapporteur. development in the country are degrading the environment through the uncontrolled 5. Environmental Issues growth of urbanisation and industrialisation, The technical session on theexpansion and intensification of agriculture “Environmental Issues” Theme 5 was held and destruction of natural habitats. The earth’s

December 2020 December 2020 IEA Newsletter 41 climate continuously changes following a Hanumant Yadav, Visiting Professor, ICFAI natural process. It is as a consequence of such University, Raipur. Shri Ajay Singh, IAS, Vice natural process that the ice-cold climate of Chairman, CG State Planning Commission the earth became favourable for the evolution & former Chief Secretary of the State was of mankind. And also explained as to how the the Chief Guest of this session. The special adverse impact of pollution on human health, session began with panel discussion by invitee loss of biodiversity, ozone layer depletion, experts followed by paper presentation by the land degradation, air quality, deforestation, contributors on Chhattisgarh economy. urbanisation and poverty by global warming. The Paper presentation was chaired by He also talked about the remedial measures Dr. Hanumant Yadav. Shri Ajay Singh graced as to how we protect the environment and the programme as Chief Guest. There were explained in terms of afforestation, civic six sub-themes: Trends and Prospects of consciousness towards nature and action Faster Economic Growth of CG; Agriculture must be taken by governments of developed Economy of CG; Industrial Economy of CG; and industrialised countries. Poverty and Unemployment in CG; Current The other important paper concerned Development and Welfare Programme in with ‘Climate Change and Its Effect of CG; and Gadhbo Nawa Chhattisgarh. The Agriculture in India’ by K. Nagendiran. He first paper was presented by Dr. Anshumala said that climate change as a result of global Chandanagr on “Industrial Development warming will significantly impact on food in Chhattisgarh with Special reference to supply and food security. Global warming MSMEs.” She felt that there is need to promote affected agriculture in terms of temperature, MSMEs along with large Industries. She precipitation and glacial run-off. These suggested that State Government should come conditions determine the carrying capacity forward to conduct special entrepreneurship of the biosphere to produce enough food and skill development training programmes, for the human population and domesticated assistance in product quality and marketing animals. Several factors directly connect to support for MSMEs development. climate change and agricultural productivity Dr. Archana Sethi and Dr. B.L. – temperature, change in rainfall, rising Sonekar in their paper titled “Occupational CO2 level, climate variability and impact and Human Rights Issues of Migrant on production. His suggestions highlighted Workers working in Construction Sector towards awareness, laws banning CFC in Chhattisgarh” discussed the issues of gases, sustainable agriculture development, migrant workers in detail. Their paper afforestation and people participation to revealed that though migrant workers in mitigate environmental problems. the State were getting higher wages however unfortunately there was no job security for Special Session on Economy of them and their living conditions were poor. Chattisgarh They suggested amendment of the Act to The Special session of the 102nd solve their problems. Prof. A.K. Pandey, Annual Conference devoted to the theme of Dr. Radha Pandey, Dr. Ranu Agrawal and “Economy of Chhattisgarh” was chaired by Dr. Kavita Sahu in their paper discussed Causes

42 IEA Newsletter December 2020 and Remedies of Low Productivity of Rice due to mushroom growth of steel and other in Chhattisgarh. They found low fertility of minerals based industries. The high degree soil, poor irrigation facilities and traditional of air pollution has resulted in increasing technology for low productivity of rice crop number of lung diseases. The paper concludes in the State. They suggested development of that industrialization at the high cost of irrigation facilities, Use of HYV technology citizens is not advisable setting up further and liberal institutional credit and marketing industries should be stopped. support to raise farm productivity. Geetanali Pankaj in her joint paper Dr. Nilesh Kumar Tiwari presented with Dr. Snil Kumeti and Dr. Ranu Agrawal his paper titled ‘Inter-district Disparities in discussed ‘Saving pattern of women Self- Human Development in Chhattisgarh.’ The help Group members through cooperative Principal Component Analysis statistical banks in Chhattisgarh State. She said that technique used by him showed highly she found a significant increase in the significant Inter-district disparities in the income of women self-help group members State. He found Durg, Raipur, Korba and funded by cooperative banks. The paper Dhamtari districts as highly human developed suggested the need of entrepreneurship districts while Surguja, Kawardha, Bastar, and skill development training to the self- Jashpur and Dantewada as most backward help group members. There is also need of district in human development. Dr. Mahesh attractive saving and insurance scheme for Shrivastava, in his paper discussed the present securing their future. Sharadha Agrawal, status and problems of Handicraft Industry in Dr. Radhya Pandey and Dr. A.K. Pandey in Primitive Tribes. The paper revealed that the their joint paper examined effect of chemical Handicraft industry run by primitive tribes is fertilizers in the productivity of rice. They passing through financial crisis. He appealed found positive correlation between the use of the government to come forward to preserve chemical fertilizers and productivity of rice. generation old tribal arts and crafts. They found that excessive dose of chemical Pragati Krishnan in her paper co- fertilizers is harming fertility of the soil. They authored with Prof. Ravindra Brahme suggested the need for creating awareness examined ‘District Level Energy Disparity in among farmers to restrain themselves using Chhattisgarh.’ She said that role of energy in high dose of chemical fertilizers. development and reducing multi-dimensional Chairman of the session Dr. Hanumant poverty has been well recognized. The SDG Yadav in his concluding speech appreciated programme has reduced the district level the paper writers for their quality analytical disparity to some extent. She suggested papers and finishing the presentation of their expedition of SDG programme for well- papers within prescribed time limit. Dr. being of people across the state. Vinit Kumar Ravindra Brahme, Head, SoS Economics Sahu in his joint paper with Prof. Ravindra delivered vote of thanks speech. Brahme used econometric techniques to study ‘Economic Impact of Air Pollution on Panel Discussion Urban Households of Raipur City.’ The study The theme of the panel discussion revealed high level of air pollution in Raipur was “Gadhbo Nava Chhattisgarh - (Shall

December 2020 December 2020 IEA Newsletter 43 Make New Chhattisgarh),” a slogan given by see that transformation of this industrially Hon’ble Shri Bhupesh Baghel, Chief Minister, backward state in to a developed state in New based on his vision of new Chhattisgarh. Now Chhattisgarh. Dr. Subha Singh Yadav (Jaipur) Gadhbo Nawa Chhattisgarh” has become highlighted tribal economy of the state and official mission of State Government. All the hopeful of advancement of tribal people in policies and programmes are framed in order New Chhattisgarh. to achieve the goal of New Chhattisgarh. At Chief Guest Shri Ajay Singh, in his the outset Chairman Dr. Hanumant Yadav speech discussed growth model for new gave a warm welcome to all panellists who Chhattisgarh, Strategy for making New were present on the occasion. The panellists Chhattisgarh and programmes for making were: Dr. K. Subramaniam, Member, CG New Chhattisgarh. He said the growth model State Planning Commission & former PCCF, of Chhattisgarh includes not only modern Shri Shailendra Shukla, Chairman, CG State technology but also traditional arts, folk Power Company, and Shri Pradeep Tandon, knowledge and skills going to play important President, Jindal Steels and Power Ltd. and role in the development of the State. Shri Ajay Regional Chairman FICCI. Singh said that prosperous villages and smart Dr. K. Subramaniam, said that CM Shri cities with public participation are part of Bhupesh Baghel is dedicated to make New model of New Chhattisgarh. Chhattisgarh as ‘Poverty and unemployment Dr. Hanumant Yadav, while summing free economically developed state with up gave his own observations. He said that developed human resources.” He explained ‘New Chhattisgarh Model’ is basically a rural that in order to fulfil this dream, the State development model with special focus on Planning Commission in collaboration agriculture economy of state. He said that with other official agencies has chalked out ‘Narwa (Rivulets), Garwa ( Cattle), Ghurva strategies and programmes for faster and (Compost) and Baadi ( Kitchen garden)” sustainable economic growth of the state. these four pointed rural development Dr. Subramanium also discussed goal wise programmes are base of New Chhattisgarh targets and progress of UNDP Sustainable programme. Since CM Bhupesh Baghel Development Goals (SDG) programmes in believes the ideals of Mahatma Gandhi, so Chhattisgarh. his development model is based on ‘Gram Shri Shailendra Shukla, discussed Swaraj’ of Mahatma Gandhi and ‘Trusteeship’ the vision targets and progress of physical principle of industrial development. infrastructure development focusing on All panellists after answering the queries power generation programmes. He said of audience gave their final observation. Chhattisgarh has become a power surplus There was consensus among them about state. There are no power cuts and electricity the feasibility of the model, implementation tariff for all categories of consumers are and outcome of the schemes. Thus they were low. Shri Pradeep Tandon, said that all the optimistic to the success of growth model. suggestions submitted by the Industries They agreed that achieving the goals may associations are under implementation by the appear difficult but not impossible task. The State government. He was very optimistic to political stability committed implementing

44 IEA Newsletter December 2020 machinery, involvement of NGOs, peace conducting the conference successfully. Dr.B. in naxal affected areas are favourable for Ramaswamy, Adjunct Professor, State University realization of goals. Panellist agreed that of New York delivered the Guest of Honour mobilizing of funds is the only constraint. In Address and Mrs. Sasikala Pushpa delivered the end, Prof. A.K. Pandey, former Prof. & the Chief Guest address. In the concluding part Head SoS in Economics, of PRSS University Dr. Ravindra Brahme, the Local Organising expressed vote of thanks. Secretary expressed thanks to the Conference President Dr.G.Viswanathan, Association Valedictory Session President Prof. S. Mahendra Dev, General The welcome address of the valedictory Secretary and Treasurer Dr. Devendra Awasthi, session was delivered by Prof. Keshari Lal Vice President, Dr. B.P.Chandramohan, Chief Verma, Vice - Chancellor of Pt. Ravishankar Coordinator, Dr. Anil Kumar Thakur and Shukla University. The conference President Coordinator Dr. S.Narayanan and all the Dr. G. Viswanathan expressed his deep sense of members in the Executive Committee. He also gratitude to the university and he appreciated thanked the Vice - Chancellor and Registrar of the cooperation of the host institution in Pt. Ravishankar Shukla University.

CHIEF CONVENER Dr. Anil Kumar Thakur Secretariat Colony, Road No. 3, House No. B/6, Kankarbagh, Patna-800 020, Bihar (india) Phone: 0612-2354084, Mobile: 09431017096 Fax : 0612-2354084; E-mail: [email protected]

CONTACT PERSONS FOR FURTHER INFORMATION

VICE PRESIDENT- NORTH VICE PRESIDENT –SOUTH Dr. Devendra Awasthi Prof. B. Ramaswamy HOD of Economics, VSSD College, Adjunct Professor State University of New York, USA Kanpur-208 001 President- India, - National Education Foundation -USA. Mob: 9415330533 Expert Committee Member, UGC, Govt of India. Email: [email protected]

December 2020 December 2020 IEA Newsletter 45 CHIEF COORDINATOR PUBLIC INFORMATION OFFICER Dr. S. Narayanan Dr. Deepti Taneja Department of Economics Dept. of Economics, D.G.Vaisnav College Delhi College of Arts and Commerce, Chennai-600106, Tamil Nadu Netaji Nagar, Delhi-110023 Mob:9884513004 Mobie: 09810714549, 09811667409 Email: [email protected] E.Mail: [email protected]

JOURNAL DISTRIBUTION DURING THE CONFERENCE

CHIEF COORDINATOR –NORTH COORDINATOR –SOUTH Prof. Balkant Sharma Dr. Kumari Manisha Dr. N.Suresh Babu B.D.College, Patna, Bihar IEA Patna Office Associate Professor of Economics Mob: 9934297227 College of Commerce, Arts and Science Presidency College, Chennai-600005 Mob: 9576959684, 76547556416 Tamil Nadu Email: [email protected] Mob: 9499946115, Email: [email protected]

ISSUE OF CERTIFICATES

TREASURER JOINT SECRETARY Dr. Budhen Kumar. Saikia Dr. P. Anbalagan IEA Moregaon College, Assam Associate Professor of Economics, Phone: 9957508517 Presidency College, Email: [email protected] Chennai - 600005. Tamil Nadu. 9444028964 [email protected]

46 IEA Newsletter December 2020 Issuance of Identity Card This facility will quicken the information Since the 96th Annual Conferences in dissemination at a lesser cost. Kanchipuram, the Indian Economic Association International Economic Association has been issuing identity cards to its members International Economic Association incorporating their permanent membership is the global level association of economists. It numbers. The permanent membership numbers incorporates Economic Associations of various are also available at the IEA website for the nations and The Indian Economic Association is a members joined up to 2019. Apart from the member of the International Economic Association administrative purposes of the IEA, identity card and it is represented in their Council Meet. It is an is useful for the members to avail library facilities honour for us that our former Association President, and also to attend conferences/seminars and other Prof. Sukhadeo Thorat is an Executive Committee academic purposes. Identity cards will be issued Member of the International Economic Association to those after becoming members at free of cost. and our former conference President, Prof. Members who lost their identity cards can get a Kaushik Basu is the President of the International new one after paying Rs.100. The members have to Economic Association. The World Congress of the apply for identity cards online platform available in International Economic Association will be held the website. For all correspondences with the IEA once in every three years. The next World Congress Office, use the permanent membership number. of the International Economic Association will be Identity cards will be generated every time once held in Bali Indonesia which is to be held from 2nd new membership number reaches fifty. The identity to 6th July 2021 on the theme “Equity, Sustainability cards of every state will be distributed through the and Prosperity in a Fractured World”. respective Executive Members About Procuring Conference Volumes BEST PAPER AWARDS Please note that the conference volumes To enthuse, encourage and to promote the of the Journal as well as other published materials academic pursuits of young scholars, especially distributed during the conference are of free of women scholars, the IEA has instituted three best cost. By being a member and not attending the paper awards by giving a merit certificate and conference or having a published paper without cash award. Based on the merit of the paper and being present in the conference is not liable to the presentation during the Annual Conference, a receive the journal and such members cannot claim total of three awards will be presented for the best these publications as a matter of right. Moreover, conference papers from among the five themes. no request for any past issues of the conference volumes either directly or through post will be 1. DR. SUSHIL THAKUR MERIT AWARD entertained. Dr. Sushil Thakur Merit Award will be given for the best paper of a woman author under Digital Membership Profile any of the five selected theme. The award comprises Digital membership profile is a new facility cash of Rs. 5,000/- along with a merit certificate. available to the members to correct, add or update This award is instituted in the memory of Dr. the details of life members. This is an online facility Sushila Thakur, who, in her long career as a teacher attached to the IEA website. Members can upload of Economics in Delhi University, had contributed their details by using their membership numbers. significantly to the areas of Gender Studies and This will become the data source of members for Economic Policy. communication and information dissemination.

December 2020 December 2020 IEA Newsletter 47 If the best paper is a joint paper, only the coordinating the entire process between the referee first author of a joint-paper shall be given the Cash and the Awards Committee Award, but merit certificates will be given to co- Note: Research papers from the Chairpersons/ authors also. The eligibility of Dr. Sushila Thakur Presidents will not be considered for the award. merit award is women scholars below the age of 40 NSE BEST THESIS AWARD FOR as on 31st March of the year of IEA conference. FINANCIAL ECONOMICS The Best Thesis Award in Financial 2. T.S. PAPOLA MERIT AWARD Economics constituted by the NSE is to encourage T.S. Paola was one of the past Presidents research and disseminate cutting-edge theory and of IEA and an internationally acclaimed labour practice in the area of Capital Market. The NSE economist. The award consists of a cash prize award is given for the best Ph.D. thesis submitted of Rs. 5,000/- along with a merit certificate. T.S. by an Indian to an Indian University or an Indian Papola merit award will be given for the best paper Economic Institute in financial economics with presentation of an author under the five selected special reference to capital market in India. The theme. The eligibility of the award is for those NSE prize will carry a merit certificate and a cash below the age of 50 as on 31st March of the year of award of Rs. 50,000 to be given to the best thesis. Annual Conference. The IEA invites scholars across the country for their entries. The result will be declared by a committee 3. Smt. LANKA SRI KRISHNA MERIT constituted by the IEA President in consultation AWARD with the Managing Director, NSE. Smt. Lanka Sri Krishna Merit Award gives A copy of the thesis is to be submitted latest a cash prize of Rs. 5,000/- along with a certificate by 28th February, 2021 to the General Secretary, of appreciation, instituted in the memory of Smt. IEA, Dr.B.P.Chandramohan at No.28A, S-3, Lanka Sri Krishna, wife of Prof. L.K. Mohan Rao, Galaxy Vasantham Apartments, 5th Main Road, former President Conference of the IEA. Vijayanagar, Velachery, Chennai 600042, Tamil Research papers should reach the General Nadu, Mob:9444932128; 6381733290; Mail id: Secretary of the Indian Economic Association on or [email protected]. The NSE Award for the before the last date prescribed for paper submission. best Thesis in Financial Economics last year was For the presentation of the awards, the Best Paper conferred upon Mr. Sudarshan Kumar for his thesis writer/Best Woman Paper Writer will be adjudged titled “Three Essays on Interest Rate Modelling’ in by The Awards Committee, with the President as Management from Indian Institute of Management, its Chairperson, along with the General Secretary Ahmedabad. as the coordinator of the selection process. This The President of IEA is the Chairperson of the Committee will be constituted by the President award selection Committee, and he constitutes the of the IEA. The referee of each theme will select award selection committee along with the General three best papers from each of the four themes, Secretary as the coordinator of the selection process. which will be given to the Awards Committee. This This Committee will then adjudge the best thesis Committee will then adjudge the best paper from among the submitted theses. He shall also ensure, the four papers given to it under each theme. This after the assessment by the jury that the awardee selection of the best paper would be made on the is informed well in advance to NSE Award- Best basis of the content and quality of the Paper and Thesis in Financial Economics the presentation of the same, if required, in front of the jury member(s). The General Secretary will be

48 IEA Newsletter December 2020 IEA ELECTION 2020

t is for the information that as per the decision of the GB Meeting of 29th December I2019, Dr. Tapan Kumar Shandilya will be the Election Officer for the Elections 2020 of IEA. IEA Elections 2020 will be held immediately after the GB meeting held in 103rd Annual Conference at University of Rajasthan, Jaipur. The following are the vacancies for which the IEA Elections 2020 will be held.

Vacancies arise to the following posts 1. Association President: to be elected if need be among the names suggested by EC. 2. Conference President for the 104th Annual Conference of IEA (April 2021 to March 2022): to be elected if need be among the names suggested by EC. 3. Joint Secretary -North East

Executive Committee Members for the following States from April 2021 to 2024 1. Assam – Existing Vacancy 2. Chhattisgarh – Prof.Hanumant Yadav 3. Goa – Dr.B.P.Sarath Chandran 4. Jharkhand- Dr.N.C.Jha 5. Meghalaya - Vacant 6. Rajasthan- Prof.S.S.Somra

The official notification and the onward election proceedings will be handled by the election officer

Prof.(Dr.) Tapan Kumar Shandilya, Former President, IEA Principal, College of Commerce, Arts and Science, Patna- 800020, Bihar Mob: 9431049671 ; Email: [email protected]

December 2020 December 2020 IEA Newsletter 49 INDIAN ECONOMIC ASSOCIATION MINUTES OF THE URGENT EXECUTIVE COMMITTEE MEETING held on Monday, 24th June 2019 at Indira Gandhi Institute of Development Research, Mumbai

The Urgent Executive Committee meeting of thd Indian Economiv Association was held On Monday, 24th June 2019 at Seanza Conference hall, IGIDR, Mumbai at 11.00 am. Association President of IEA, Prof. Mahendra Dev welcomed the members and informed that the broad Objective of the meeting was largely to discuss the academic as well as the organizational matters of the association. This will encourage the young economists to take active participation in the activities of the association. He wanted to have closer coordination with the activities of regional economic associations. The agenda of the urgent executive committee were circulated among the members well before the meeting. The agenda items were taken for discussion one by one. 1. Two minutes silence was observed as a mark of respect on the sad demise of Professor Dr M.S.Kallur, a renowned economist and a member of the IEA family. 2. The Minutes of the executive committee meeting held at VIT University on 27th December 2019 were considered and approved. 3. President also elaborated the importance of raising funds at the president Juncture. It is resolved that the executive committee members and joint secretaries have to mobilize funds by means of sponsorship and advertisements to a tune of Rs. One Lakh per member. It is also informed that IEA will also seek funds from different government bodies and isstitutions.

50 IEA Newsletter December 2020 4. The Executive Committee also appreciated the services of the Public Information Officer, Dr Deepti Taneja. The Committee also unanimously selected her as the PIO and extended teh tenure of her post of PIO for 3 more years. 5. The Executive Committee nominated the senior most joint Secretary Dr Devendra Awasti as the General Secretary of the IEA till IEA Election 2019 which will be held during the 102 nd Annual Conference of IEA due to the vacancy araised after the resignation of the General Secretary and Treasurer Dr Anil Kumar Thakur. 6. For the post of Treasurer, Dr Budhen Kumar Saikia was nominated by the Executive Committee till IEA Election 2019 which will be held during the 102nd Annual Conference of IEA. Hence the post of Joint secretary (North - East) become vacant. 7. Regarding the finalization of Venue, Association President narrated the efforts taken by him and the convener of the coordination committee dr Anil Kumar Thakur. The venue of the 102nd Annual Conference of the IEA was tentatively finalized as Paint Ravishankar Prasad University, Raipur, Chhattisgarh. The venue will be officially finalized after Dr . Anil Kumar Thakur’s meeting with the Chief Minister of Chhattisgarh and the authorities within a week. 8. The E.C also qpproved the tentative budget of the 102nd Annual Conference of the IEA. There had been various issue under the agenda, any other matter discussed with the permission of the chair. The decisions taken under the head were a. A Coordination Committee was proposed by the President for the better and vibrant function of the IEA. The Executive Committee approved unanimously and the Consititution of the Committee as follows. Chairman - Prof. S. Mahendra Dev, Associatiohn president , IEA. Convener - Dr Anil Kumar Thakur. Coordinator - Dr. S. Narayanan

Members : 1. Dr. G. Viswanathan 2. Prof . Sukhadeo Thorat 3. Prof. V. Shanmugasundaram 4. Prof. L.K. Mohana Rao 5. Dr. Tapan Kumar Shandilya 6. Prof. B.P. Chandramohan 7. Dr. Devendra Awasti 8. Dr Budhen Kumar Saikia,

December 2020 December 2020 IEA Newsletter 51 9. Prof. S.H. Induwade 10. Dr.P. Anabalagan 11. Dr. Nageshwar Sharma 12. Dr. Deepti Taneja, B. The Executive Committee Proposed to Prepare reports on important Politics and Programmes of the government and economic. Issues after discussions and deliberations by experts from IEA. It was also decided to present these reports to the Central and State Governments to take optimal Policy decisions. C. The Executive Committee decided to stop the publications of hard copies of conference volumes. Hard copies will be substituted by electronic devices. However the publication of profile, newsletter and the abstracts will continue in the printed format. D. Dr Anup Kumar of Allahabad University id nominated as the Joint Secretary - North till I EA Election 2019 which will be held at the time of 102nd Annual Conference of IEA as the result of vacancy arised after Dr Devendra Awasti becoming General Secretary. E. It is also decided that the smooth conduct of the 102nd Annual Conference Various committees will be formed comprising the Executive Committee members before the next executive committee meeting, most probably in the month of August or September 2019. F. Dr Nikhil Chandra Jha from Mumbai University was nominated as Special Invitee member - Executive Committee The executive committee meeting came to an end after the vice President proposing the vote thanks.

52 IEA Newsletter December 2020 December 2020 December 2020 IEA Newsletter 53 54 IEA Newsletter December 2020 December 2020 December 2020 IEA Newsletter 55 56 IEA Newsletter December 2020 December 2020 December 2020 IEA Newsletter 57 58 IEA Newsletter December 2020 December 2020 December 2020 IEA Newsletter 59 60 IEA Newsletter December 2020

THE INDIAN ECONOMIC ASSOCIATION Date: 20th January 2020

The Executive Committee Meeting of the Indian Economic Association will be held in B.R.Ambedkar Bihar University Muzaffarpur on 20th February 2020 at 7.00 PM. The following are the agenda of the meeting.

1. Felicitation to the new Conference President. 2. Felicitation to the newly elected office bearers in the Valedictory function of the 20th Annual Conference of the Bihar Economic Association on 22nd February 2020. 3. Appointment of various subcommittees of the Executive Committee of IEA. 4. Constituting the Editorial Board of the Indian Economic Journal. 5. Plan to include Indian Economic Journal in the list of University Grants Commission. 6. Theme and Subthemes of the 103rd Annual Conference of IEA 7. Venue of the 103rd Annual Conference of IEA. 8. Updating membership profile through digital format. 9. Affiliating IEA with regional economic associations- modalities and procedures. 10. Collaboration of IEA with institutions conducting seminar, workshop and conference- modalities and procedures. 11. New Secretariat, Bank Account and appointment of Manager. 12. Website modernisation and storage of data. 13. Fund mobilisation- ways and means. 14. Newsletter 2020. 15. Any other matter with the permission of the Chair. Note: All the participating members of EC will be paid II AC train fare as Travelling Allowance.

General Secretary B.P.Chandramohan

December 2020 December 2020 IEA Newsletter 61 62 IEA Newsletter December 2020 December 2020 December 2020 IEA Newsletter 63 64 IEA Newsletter December 2020 December 2020 December 2020 IEA Newsletter 65 66 IEA Newsletter December 2020 December 2020 December 2020 IEA Newsletter 67 68 IEA Newsletter December 2020 December 2020 December 2020 IEA Newsletter 69 70 IEA Newsletter December 2020 December 2020 December 2020 IEA Newsletter 71 72 IEA Newsletter December 2020 December 2020 December 2020 IEA Newsletter 73 Technical Session on Economic Growth, International Trade and Rural Non-farm

74 IEA Newsletter December 2020 December 2020 December 2020 IEA Newsletter 75 GLIMPSES FROM INAUGURAL SESSION

Dr. Anil Kumar Thakur, Chief Convener IEA and Vice Chancellor of Pt. Ravishankar Shukla University Prof. Keshari Lal Verma Receiving Honourable His Excellency Shri M. Venakaiah Naidu, Vice President Chief Minister of Chhattisgarh Shri Bhupesh Baghel at of India Exchanging Pleasantries with the Portal of Dhinadayal Upadhayay Auditorium. Prof. B. Ramaswamy and Prof. Tapan Kumar Shandilya.

His Excellency Shri M. Venakaiah Naidu, Vice President Association President Prof.S. Mahendra Dev, of India Exchanging Pleasantries with Dr.L.S.N Prasad, Vice - Chancellor of Pt. Ravishankar Shukla University EC Member IEA. Prof. Keshari Lal Verma and the Conference President Dr.G.Viswanathan felicitating Honourable Vice President of India Shri M. Venkaiah Naidu.

His Excellency Shri M. Venakaiah Naidu, His Excellency Shri M. Venakaiah Naidu Vice President of India during the Inaugural Ceremony. Delivering the Inaugural Address.

76 IEA Newsletter December 2020 GLIMPSES FROM INAUGURAL SESSION

His Excellency Shri M. Venkaiah Naidu Honourable Vice President of India Releasing the IEA Membership A close look at the presentation of nd Shri M. Venakaiah Naidu’s Inaugural Address. Profile - 2019 during the 102 Annual Conference of IEA at Pt. Ravishankar Shukla University, Raipur

Professor Keshari Lal Verma, the Vice Chancellor of Pt. Ravishankar Shukla University, Raipur and His Excellency Shri M. Venkaiah Naidu Honourable Conference President Dr. G. Viswanathan Felicitating Vice President of India presenting the Life Time Shri Bhupesh Baghel, Chief Minister of Chhattisgarh. Achievement Award to Dr. Anil Kumar Thakur, Former General Secretary and Treasurer of IEA.

His Excellency Shri M. Venkaiah Naidu Honourable Honourable Governor of Chhattisgarh Vice President of India presenting the nd2 Koutilya Smt. Anusuiya Uikey Delivering her Address on the Award to Prof. B. Ramaswamy, Adjunct Professor, 102nd Annual Conference, at State University of New York, USA. Pt. Ravishankar Shukla University, Raipur

December 2020 December 2020 IEA Newsletter 77 GLIMPSES FROM INAUGURAL SESSION

Honourable Chief Minister of Chhattisgarh Professor S. Mahendra Dev, President, IEA Briefs Shri Bhupesh Baghel Delivering his Address on various activities of IEA and its Development during the the 102nd Annual Conference, at Inaugural Function of 102nd Annual Conference at Pt. Ravishankar Shukla University, Raipur Pt. Ravishankar Shukla University, Raipur.

Professor Keshari Lal Verma, Vice Chancellor of Pt. Ravishankar Shukla University, Raipur Welcoming Prof. Kaushik Basu, President International Economic Prof Kaushik Basu, President, International Economic Association and Professor of Economics, Cornell Association for Delivering His Special Lecture on University is delivering the Special Address. 102nd Annual Conference of IEA.

Professor Keshari Lal Verma, Vice - Chancellor of A View of Members Participating in the Pt. Ravishankar Shukla University facilitating Dr. Nagesh 102nd Annual Conference Kumar, Director, South and South-West Asia Office, UNESCO.

78 IEA Newsletter December 2020 Professor Pulin B. Nayak, Chair, Prof.C.Veeramani making presentation and other Key Note Paper Another View of Members Participating in Presenters from Right, prof. Jeemol Unni, the 102nd Annual Conference Dr. G.R. Reddy, Dr. Himanshu and Prof. K.S.Kavi Kumar and the Rapporteur Mr. Biswaojit Swain.

Professor S. Mahendra Dev, President, IEA Felicitating Prof. Ashima Goyal, Professor IGIDR & Member Prime Dr.B.P.Veerabhadrappa, Vice - Chancellor, Minister’s Advisory Council, Delivering Kuvembu University, Shimoga, Karnataka. Veera Anstey Memorial Lecture.

Dr. Ravindra Dholokia (extreme left) to delivered the Brahmananda Memorial Lecture, Dr.G.Viswanathan Conference President IEA Chairing the Session Making Technical Session on Livelihoods and Social Protection: the Final Remarks, Prof. S. Mahendra Dev, President Jobs, Universal Basic Incomes etc. IEA to felicitate the Speaker and Dr.Sandhya Rani Das Rapporteur of the session.

December 2020 December 2020 IEA Newsletter 79 Collaborative Webinar Lecture Series of IEA: 25th July to 10th August Time Table

Date Institution Theme Coordinator Resource Person(s) 04-06- Sir M V Covid-19: Fiscal Dr. Nasir Khan 1.Prof.N.R.Bhanumurthy- 20 Govt. Arts Management-Ways and BASE, Bangalore and Science Challenges Ahead 2.Dr. Nazrul Islam- College, Bangladesh Bhadravathi, 2. Dr. Supran Kumar Karnataka & Sharma –J&K IEA 08-06 Sir M V Covid-19: Fiscal Dr. Nasir Khan 1.Dr.Tapan Kumar Govt. Arts Management-Ways and Shandilya – Patna 2. Dr. and Science Challenges Ahead R.R.Biradar- Dharwad College, Bhadravathi, Karnataka & IEA 10-06 IEA Covid-19 and Beyond; Dr. S.Narayanan Prof. S. Mahendra Dev Economy and Livelihoods -Chennai 11-06 IEA Covid-19 Lockdown and Dr. S.Narayanan Prof. Sudhanshu Bhushan Higher Education -Chennai 12-06 IEA Covid-19 and Indian Dr. S.Narayanan Prof. N.R. Bhanumurthy Economy: Policy -Chennai Response and Prospects 13-06 IEA Covid-19 and Digital Dr. S.Narayanan Prof. S. Ramaswamy Economy -Chennai 15-06 IEA Covid Pandemic and Dr. S.Narayanan Prof. Vedagiri Global Economic Sciences -Chennai Shanmugasundaram 18-06 IEA Covid-19 and Economic Dr.B.P.Chandramohan Dr. S.S.Somra, Development: Pace and University of Rajasthan Pattern in India 19-06 IEA Covid-19: Atmanirbhar B.P. Chandramohan Dr. Kanhaiah Ahuja, and Indian Economy Indore 20-06 IEA Impact of Covid-19 on Dr.B.P.Chandramohan Dr.R.Balasubramanian, Reverse Migration and Chennai Distress Migrants 21-06 IEA Informalisation of Indian Dr.B.P.Chandramohan Dr. Ravindra Brahme, Economy and Covid-19 Chennai 22-06 IEA Prospects and Challenges Dr.B.P.Chandramohan Dr.B.P.Sarath Chandran of India’s Foreign Trade Aftermath of Covid-19 23-06 IEA Centre State Financial Dr.B.P.Chandramohan Dr.Tapan Kumar Relation After Covid-19 Shandilya 24-06 IEA Covid-19 and its Impact Dr.B.P.Chandramohan Prof.B.P.Veerabhadrappa, on Indian Economy V.C.Kuvembu University

80 IEA Newsletter December 2020 25-06 IEA Economic Impact of Dr.B.P.Chandramohan Prof. Ugra Mohan Jha Covid-19 on Indian Former V.C.Pratap Economy: An Overview University, Jaipur 26-06 IEA Challenges before the Dr.B.P.Chandramohan Prof.I.D.Gupta, Former Indian Economy in 2020 Prof. Lucknow University in View of the Corona Pandemic 27-06 IEA Fiscal Policies for Dr.B.P.Chandramohan Prof. Sudhakar Panda, V.C. Economic Revival of Birla Global University Indian Economy Aftermath of Covid-19 28-06 IEA Challenges of Covid-19 Dr.B.P.Chandramohan Dr.M.Sri Devi, Scientist, on Health and Nutrition ICMR, Hyderabad in India 29-06 IEA South-South Cooperation Dr.B.P.Chandramohan Prof.Pinaki Chakraborthi in the Post-Covid World Former Professor University of Burdwan 03-07 IEA & DG Covid-19: Impact on the Dr.S. Narayanan Prof.S.Mahendra Dev- Vaishnav Indian Economy and Moderator Panelists: College, Inclusive Growth 1.Dr.Nagesh Kumar, Chennai Director, South and South-West Asia Office, UNESCAP 2. Prof Ashima Goyal, IGIDR, Mumbai 3.Prof.Sudhanshu Bhushan, NUEPA, New Delhi 4.Prof.Ravi Srivatsava,IHD, New Delhi 5. Prof.K.S.Kavi Kumar MSE, Chennai 09-07 IEA & Pandemic: Novel Dr. Budhan Kumar Prof. A.K.Bhadawati Morigaon Challenges and Human Saikia College, Assam Civilization 10-07 IEA & Human Civilization and Dr. Budhan Kumar 1.Sjt.Bharat Bhushan Dev Morigaon Prayer for a livable World Saikia Choudhury College, Assam 2. Dr. Apurba Kumar Saikia

11-07 IEA & In Search of Gainful Dr. Budhan Kumar 1. Babu Ram Karki Morigaon Solutions to Face the Saikia 2. Prof. Ananada Mohan College, Assam Novel Challenges Biswas

12-07 IEA & Covid Pandemic: Dr. Budhan Kumar Prof.Sangita Laha Morigaon Environmental Hazards Saikia College, Assam and Challenges-Role of Civil Society in India

December 2020 December 2020 IEA Newsletter 81 13-07 IEA & Pandemic: Regionalism, Dr. Budhan Kumar Sjt. Diganta Biswa Sharma Morigaon Nationalism and Saikia College, Assam Universalism 14-07 IEA & Pandemic and Human Dr. Budhan Kumar Prof. Jogen Kalita Morigaon Beings … Our Existence Saikia College, Assam 14-06 to IEA & Pandemic, Life and Dr. Budhan Kumar 24-06 Morigaon Development: Present Saikia College, Assam Challenges and Futuristic Resilience of Huamn Kind 20-07 IEA & Issues and Challenges of Dr.P.Anbalagan 1. Prof. S.Irudaya Rajan, Presidency Employment in Reviving CDS College, the Growth of Indian 2. Dr. Jayan Jose Thomas, Chennai Economy IIT, Delhi 21-07 IEA, Yunus Reviving Economy in the Dr. K. Sudarkodi 1. Prof. Mohammad Centre & Post Covid-19 Scenario Yunus, Chairman Yunus Govt.Arts Vs. Rest of the World Centre and Science 2. Dr. Theenadayalan, College, Madurai Chennai 3. Dr. Nasir Khan, Karnataka 22-07 IEA & Tripura Life Vs. Livelihood : Dr. Nirmalya Debnath 1. Prof. S.N.Misra, Central Impact of Covid-19 Bhubaneswar University Pandemic on Indian 2. Dr. Debarshi Mukherjee, Economy Tripura 3. Dr. Abhishek Kumar, KIIT, Bhubaneswar

27-07 IEA & Janata Pandemic: Socio- Dr. Sujata Bhadra 1. Prof. Asim Kumar College, Assam Economic and Karmakar, Calcutta Educational Challenges in 2. Dr. Bhudhan Kumar Rural India Saikia, Morigaon 3. Dr. Sandhya Rani Das, Berhampur 23-07 IEA & Periyar State of Agriculture in Dr. K. Jayaraman Prof. S. Ramasamy, University, India Gandhigram Salem 24-07 IEA & Covid-19 and Inequality Dr. Nasir Khan Dr.S. Chandrasekhar, Davangere in India; Insights from IGIDR, Mumbai University, Periodic Labour Force Karnataka Survey Data 25/7 IEA & Goa Impact of Covid-19 Dr.B.P.Sarath 1.Prof. Subodh Economic Pandemic on Indian Chandran Kandamuthan, Hyderabad Association Economy 2. Prof. Amarender Reddy, CRIDA 3. Prof. Pravakar Sahoo, IEG, Delhi

82 IEA Newsletter December 2020 26/7 IEA & Future of Indian Economy Dr.Anup Kumar 1.Dr. Surya Bhushan, University of in the Global Economic DMI, Patna Allahabad Scenario 2. Prof. Shailendra N. Gajanan, Pittsburg, USA 3.Prof. Manmohan Krishna, Allahabad 27/ 7 IEA & Panel Discussion- Prof. Poonam Kumari 1.Prof. Furqan Qamar, A.S.College, Covid-19 and its Impact Fr. VC, University of Deoghar, on Higher Education Rajasthan and HP Jharkhand 2.Prof. Sudhanshu Bhushan, NUEPA 3. Prof. Saumen Chattopadhyay, JNU 28/7 IEA & Indian Economy and Dr. G.Yoganandam 1.Dr. Anjali Tandon, ISID, Thiruvalluvar MSMEs: Challenges and New Delhi University, Issues 2.Dr. Buddhadeb Ghosh, Vellore ISI. Kolkata 29/7 IEA & Raha Pandemic and Mr. Uttam Das 1. Prof.R. College, Assam Challenges of Sustainable Balasubramanian, Chennai Development 2. Dr.Budhen Kumar Saikia, Assam 3. Prof. S.Indurwade, Nagpur 30/7 IEA & Devi Post Covid Issues of Dr.Kanaiah Ahuja 1.Prof. Ram Singh, DSE, Ahalya Development of Indian 9926020907 Delhi University Economy 2.Dr. Ganesh Kawadia, Indore 3.Prof. P.N.Mishra, Indore 31/7 IEA & ADP International Dr.B.K.Saikia (R) 1.Dr. Geeta Kochhar, JNU College, Assam Interdisciplinary Webinar 2. Dr. Shaikh Shamim on Pandemic and Develop Islam, Bangladesh ment Dynamics: in Search 3. Dr.P.Anbalagan, of the World of Grace Chennai 01-08 IEA & SIVET Impact of Covid -19 on Dr. Bharathi 1. Prof.L. Venkatachalam College, Indian Economy MIDS, Chennai Chennai 2. Dr. Rahul Suresh Sapkal, TISS, Mumbai 02-08 IEA & West Covid-19 and Indian Dr.Pinaki 1.Dr. Sugata Marjit, IIFT Bengal State Economy Chakraborthy & Dr. 2. Dr. Rik Chakraborti, University Sudip Jana Virginia, USA 03-08 IEA & Kerala Issues and Challenges Dr.S.Narayanan 1.Prof. Biswajit Chatterjee, University in Coping up with Post Kolkata College Corona Indian Economy 2. Dr. Deepa Sankar UNICEF -Uzbekistan

December 2020 December 2020 IEA Newsletter 83 04-08 IEA & SNDT Aatm Niirbhar Bharat: Dr.Sanjay 1. Prof. Mrunalini Women’s Contribution of Women Fadnavis, VC, Sholapur College, Entrepreneurs Post University Mumbai Covid-19 2. Mrs. Meenal Mohadikar- Aamhi Udyogini 3. Mrs.Neelima Bawane 4. Dr.Vibhuti Patel 05-08 IEA & Thakur Digital Marketing: Boon Dr. Nishikant Jha 1. Dr. Abhishek Kumar, College of for Indian Economy KIIT, Bhubaneswar Science and 2. Mr. Karan Shaw Commerce, Director IIDE Mumbai 06-08 IEA & IQAC Impact of Covid-19 0n Dr.Yamini Pande 1. Prof. Sudarsana Rao, and Dept. of Unorganised Sector VC- VS University, Nellore Economics, 2. Prof.H.C.Purohit, Naital DOON, Dehradoon 07-08 IEA & XISS, The New Normal and Dr.Pinaki Ghosh 1.Prof. Praveen Jha, JNU Ranchi its Impact on Indian 2.Mr. Anand Sagar, Economy Ericsson 08-08 IEA & Impact of Covid 19 on Dr. Ravindra Brahme 1. Dr.S.Mohan Raj Pt.Ravishankar Economy and Health 2. Dr.T.K.S.Villalan Shukla 3. Dr. Seepana Prakasam University, Raipur 10-08 IEA & Kshetra Impact of Covid-19 Dr. Sandhya Rani Das 1. Prof. Pulin B. Nayak, Mohan Science Pandemic on MSME Former Director, DSE College, Sector 2.Dr. Chandan Jha, USA Ganjam 3.Mr. Bhuban Mohanty, Govt.of India 4.Dr. Santosh Kumar Sahu, IIT, Madras 11-08 IEA & Hindu Quality Enhancement in Prof.L.S.N.Prasad 1. Prof.K.C.Reddi, College, Higher Education through Chancellor, RGUKT Guntur New Education Policy 2.Prof. K. Viyanna Rao, 2020 Former V.C., ANU, Guntur 12-08 IEA & Indian Economy after Prof. Atvir Singh 1.Prof. Vijay Veer Singh, Devanagiri Covid-19: Challenges and NITI Aayog Chair, PG College, the Way Forward University of Rajasthan Gulaothi, 2. Prof.Ravi Kiran, TIE, Meerut Punjab

13-08 IEA & Covid-19 and its Impact Prof.D.V.Gopalappa 1. Eduardo Huerta University of on Global Economy Mercado, Peru Mysore 2. Dr. Jeffrey Lawrence D’Silva, Malaysia 3. Dr. MIM Hilal, Sri Lanka 4. Dr. Hari Eppanapally, USA

84 IEA Newsletter December 2020 14-08 IEA & Sree Recent Economic Policy Dr. Aparna Das 1.Sri Antony Cyriac, Narayana Reforms and Institutional Adviser, 15th FC of India College for Changes in India 2.Prof.G. Omkarnath, Women, Hyderabad Kollam 3. Dr. Chirashree Das Gupta, JNU Valedictory Address: Prof. Mahendra Dev 24 Bharati Covid-19 Crisis Realising Dr. Jaya Keral & 1.Prof.(Dr.) B.Ramaswamy, College, the Vision of an Dr.Shailesh Kumar, State University of New University of Atamnirbhar Bharat Co-convener York Delhi 2.Prof.(Dr.) M.Prasada Rao, Head, Dept. of Economics, Andhra University, 3.Mr. K. Krishna Murthy, Commissioner of Income Tax (Retd) 25 G.I. Bagewadi Gender Inequality: Dr.B.S. Kamble 1.Dr. Bula Bhadra Arts, Science Women Safety and Rights Prof & Head, Dept. of and Commerce Sociology, Sister Nivedita College, Nipani University 2. Dr. Prathibha Bachu, Professor, Dept. oof Business Studies, Buckinhamshire, New University, UK 29 PSG College Indian Labour Market and Dr.R. Ravi Kumar 1.Rev. Dr. G. Vazhan of Arts and Labour Reforms: Need for Arasu, Principal, St. Science, Hardline Reforms Aloysius College, Jabalpur Coimbatore 2.Prof. Kanhaiya Ahuja, Professor, School of Economics, Devi Ahalya University, Indore 3.Dr.K. Jayaraman, 4.Asso. Prof. and Head, Periyar University, Salem 30 Sri Guru Aatmanirbhar Dr. Paramjeet Kaur 1.Prof. Pravakar Sahoo, Gobind Singh Bharat Abhiyan and Institute of Economic College of Reprioritisation for Growth Delhi Commerce, Indian Economic 2.Prof.C.Veeramani, University of Revival; Challenges and IGIDR, Mumbai Delhi Opportunities in the Way Ahead

December 2020 December 2020 IEA Newsletter 85 Online Research Methodology Course during 31.08.2020 – 14.09.2020 between 04.00 p.m. – 06.00 p.m.

31st August 2020 1. PRESIDENTIAL ADDRESS -Prof. S. Mahendra Dev 2. BASICS OF RESEARCH 3. -Prof. M.M Goel, Former Vice - Chancellor, Rajiv Gandhi, National Institute of Youth Development, Sriperumbudur, Tamil Nadu TYPES OF RESEARCH -Prof. Hemant Shah, Former Principal, H.K. Arts College, Ahmedabad 1st September, 2020 1. RESEARCH PROCESS -Prof. K.B.Das, Former Vice-Chancellor, North Odisha University, Balasore, Odisha 2. HOW TO WRITE A RESEARCH PROPOSAL? -Prof. P.K. Sinha, Former Vice - Chancellor, Awadh University, Faridabad 2nd September, 2020 1. DATA-TYPESMEASUREMENT - - Dr. Christabel, Professor of Economics, University of Kerala 2. SAMPLING, SAMPLING, METHODS, SAMPLE ERROR - Prof. Kanhaiya Aahuja, Professor of Economics, School of Economics, Devi Ahilya University, Indore 3rd September, 2020 1. METHODS OF COLLECTING PRIMARY DATA - Dr. R.R. Biradar, Dept. of Economics, Karnataka University, Dharwad 2. SECONDARY DATA SOURCES -Dr. Dalip Kumar, NCAER, New Delhi 4th September, 2020 1. FRAMING THE QUESTIONNAIRE, INTERVIEW SCHEDULE FOR SOCIAL SURVEY - Dr. Sheeja S.R, Professor of Economics, University of Kerala 2. USE OF SEARCH ENGINES AND SEARCH METHODS -Dr. Budhen Saikia, Morigaon College, Assam 5th September, 2020 1. PRESENTATION OF DATA - Dr. Anup Mishra, BHU, Varanasi 2. MEASURES OF CENTRAL TENDENCY - Prof. Atvir Singh, Head, Dept. of Economics, Choudhary Charan Singh University, Meruth, Uttar Pradesh

86 IEA Newsletter December 2020 6th September, 2020 1. MEASURES OF DISPERSION AND CORRELATION - Prof. C.K.P. Shahi, Dean of Social Science & Head, Dept. of Economics, B.R.A.B.U Muzaffarpur, Bihar 2. REGRESSION ANALYSIS - Prof. Shyam Sundar Singh Chauhan, Agra University, Agra 7th September, 2020 1. TIME SERIES ANALYSIS - Mr. J. Alagiriswamy, Assistant Professor, Dept. of Economics, Loyola College, Chennai 2. INDEX NUMBERS, DEFLATOR, BASE SHIFTING AND SPLICING - Dr.V.Mohanasundaram, Head, Dept. of Economics (Unaided), PSGCAS, Coimbatore 8th September, 2020 1. HYPOTHESIS - Prof. G.M. Bhat, Head, Dept. of Economics, Central University of Kashmir, Srinagar 2. HYPOTHESIS TESTING - Dr. G.Ananthapadmanabhan, Former HOD of Economics, Guru Nanak College, Chennai 9th September, 2020 1. CODING AND ENTRY OF DATA - Prof. Ugra Mohan Jha, Former Vice Chancellor, Pratap University, Jaipur , Rajasthan 2. MACHINE PROCESSING OF DATA - Prof. Sudhir Kumar, A.N.Sinha Institute of Social Studies, Patna, Patna University 10th September 2020 1. SPSS - Dr. Vijaya Narayanan, Vel’s University, Pallavaram, Chennai 2. SPSS - Mr. Atman Shah, Lecturer, Dept. of Economics, St.Xavier’s college, Ahamedabad 11th September 2020 1. STATA AND E-VIEWS -Dr.Sarath Babu, Asso.Prof. of Finance, Institute of Management Technology, Hyderabad 2. ANALYSIS AND INTERPRETATION - Dr. Anjali Tandon, Associate Professor, ISID, New Delhi 12th September, 2020 1. INTERPRETATION OF DATA USING STATISTICAL ANALYSIS - Prof. S.S.Somra, Head, Dept. of Economics, University of Rajasthan, Jaipur 2. MEANING AND SIGNIFICANCE OF RESEARCH REPORT - Dr. Nasir Khan, EC Member, Karnataka, Shri M.V. Govt. Arts and Commerce College, Bhadravathi

December 2020 December 2020 IEA Newsletter 87 13th September,2020 1. FORMAT OF RESEARCH REPORT AND BIBLIOGRAPHY - Prof. S.H.Indurwade, Prof. & Former Head, Dept. of Economics, Nagpur University, Nagpur 2. WRITING OF RESEARCH REPORT - Prof. Tapan Kumar Shandilya, ormer President IEA, Principal, College Commerce, Arts & science Patna 14th September, 2020 1. RESEARCH PAPER – WRITING OF RESEARCH PAPER - Rakesh Raman, Professor of Economics, BHU, Varanasi 2. HOW TO WRITE A RESEARCH PAPER? - Dr.B.P.Chandramohan, Former Professor of Economics, Presidency College, Chennai

Valedictory Address: Prof. Sukhadeo Thorat - Former Chairman UGC &ICSSR, Former President, IEA

COURSE CONVENER Ms. Kumari Manisha COORDINATOR Dr. N. Suresh Babu TECH SUPPORT Prof. J. Alagiriswamy & Dr. M. Dillip Anand

IMPORTANT DATES The last date of paper submission of Special Sessions on Rajasthan Economy - 31st March, 2021 The last date of paper submissions - 15th March, 2021 Notification of received papers on IEA Website18th - March, 2021 Last date to receive clarification about paper submission - 20th March, 2021. Notification of accepted papers on IEA Website22nd - March, 2021 Last date of registration - 9th April 2021 CONFERENCE REGISTRATION 1. For online registration visit IEA website : http://indianeconomicassociation1917.com 2. NEFT payments can be also be made at the following details: ICICI Bank : A/C No : 677701700717 IFSC Code : ICIC0006777 NAME : 103rd Annual Conference of IEA, Payable at Jaipur

Dr.S.S.Somra, Head, Department of Economics, University of Rajasthan, Jaipur-302004. Phone: +91 94146 54360. E-mail: [email protected]

88 IEA Newsletter December 2020 INDIAN ECONOMIC ASSOCIATION Members of the Executive Committee- 2020-21

President Association Chief Convener Odisha and West Bengal Prof. S. Mahendra Dev Dr.Anil Kumar Thakur Dr. Sandhya Rani Das Director and Vice Chancellor, Secretariat Colony, Reader in Economics Department of Economics, Indira Gandhi Institute of Road No. 3, House Berhampur University Bhanja Bihar, Development Research, Mumbai. No. B/6, Kankarbagh, Berhampur-760007 Phone: Tel: (022) 2840 0919/20/21, Patna-800 020, Bihar (india) Mobile - 094372 03939 28416200 (Board Number) Phone: 0612-2354084 [email protected] E.Mail: [email protected]; Mobile: 09431017096 [email protected] Fax : 0612-2354084; Andhra Pradesh, Telangana, Karnataka & Goa E-mail: [email protected] Dr. K. Madhu Babu Conference President Associate Professor & Head Department of Economics Prof. Nagesh Kumar, PhD Chief Coordinator Acharya Nagarjuna University Nagarjuna Nagar- 522 510 Director, South and South-West Dr.S.Narayanan Guntur, AP, Phone: 94411 26105 Asia Office United Nations Department of Economics E.Mail: [email protected] Economic and Social D.G.Vaishnav College Commission for Asia and the Pacific Chennai-600106, Tamil Nadu Tamil Nadu and Kerala Mobile: +91 9811099655; Mob:9884513004 Dr. P.Anbalagan E.Mail: [email protected] Email: [email protected] Associate Professor of Economics Presidency College Vice President (North) Coordinator (North) Res: Plot No.17, Babu Nagar, Dr. Devendra Awasthi Dr.Kumari Manisha First Main Road, Medavakkam, Chennai-600100 HOD, Economics, VSSD College, IEA Patna Officer Mob: 9444028964 Kanpur-208 001 College of Commerce, Email: [email protected] Mob: 9415330533 E.Mail: [email protected] Arts and Science Mob: 9576959684, 76547556416 State Representatives Vice President (South) Email: [email protected] Prof. (Dr).B. Ramaswamy) Andhra Pradesh Adjunct Professor State University Coordinator (South) Dr. L.S.N Prasad of New York, USA Dr.N.Suresh Babu Professor of Economics (retd) President- India, - Associate Professor of Economics Subasree, 402 Heritage Towers, National Education Foundation -USA. Presidency College, Chennai-600005 6/13A Brodipet, Guntur Expert Committee Member, UGC, Tamil Nadu. Mob: 9499946115, Andhra Pradesh- 522002 Govt of India. Email: [email protected] Mobile: 9440532773 Email: [email protected] Email: [email protected]>[email protected] Public Information Officer General Secretary & Joint Secretary Assam Prof. B.P. Chandramohan (Delhi, Haryana, Prof. Ghana Kanta Hazarika Former Professor of Economics, Punjab, Himachal Pradesh Tangla College Tangla, Dist.. Udalguri, Presidency College, Chennai- 5 and Jammu & Kashmir) Assam. Pin 784521, 28A, S-3, Galaxy Vasantham, Dr. Deepti Taneja Phone: 9435519498 5th Main Road, Dept. of Economics, E.Mail: [email protected] Vijaya Nagar, Velachery Delhi College of Arts and Commerce, Chennai-600042. Netaji Nagar, Delhi-110023 Bihar Mobile: 09444932128; Mob: 09810714549, 09811667409 Prof.(Dr) Padmini Prasad E-mail: [email protected] E.Mail: [email protected] Department of Commerce College of Commerce, Arts & Science, Treasurer Joint Secretaries Patna- 800020 Dr. Budhen Kr. Saikia Bihar Email: [email protected] IEA Moregaon College, Assam Rajasthan, Gujarat & Maharashtra Phone: 9957508517 Dr. Satyapriya Hiralal Indurwade Dr Krishna Nand Yadav Email: [email protected] Professor of Economics, Department of Economics, RTM Nagpur University College of Commerce, Arts & Science, Chief Editor Nagpur, Maharashtra Mob: 9765029301, Patna- 800020, Bihar Prof. Sukhadeo Thorat Email: [email protected] Mob:9939666970 Professor Emeritus Email: [email protected] Centre for the Study of Regional Development Uttar Pradesh & Uttarakhand School of Social Sciences Dr. Anup Kumar Chhattisgarh (Former Chairman, UGC, ICSSR) Assistant Professor Dr. Hanumant Yadav, Department of Economics, H-1-78, Queen Dayal Upadhay Nagar Managing Editor, University of Allahabad,Pryagraj- 211002 Raipur, Chhattisgarh Indian Economic Journal Mob.: +91-9839241264 Mob: 9425522281 Prof. Sudhanshu Bhushan, E.Mail: [email protected] Email: [email protected] National University of Educational Planning & Administration, 17-B, Sri Aurobindo Marg, Madhya Pradesh & Chhattisgarh Delhi NCERT Campus, Dr. Ravindra Brahme Dr. Sailesh Kumar New Delhi -110016. Professor and Assistant Professor of Economics +91 (011) 26544820 (O) Head school of Studies in Economics Bharati College, University of Delhi Pt. Ravishankar Shukla University Mob: 9971697152, Email: [email protected] Local Organising Secretary Raipur Chhattisgarh Prof. S. S. Somra, Mob: 9827110259 Goa Prof. & Head, Dr. B.P. Sarath Chandran Department of Economics Bihar and Jharkhand Professor of Economics University of Rajasthan, Jaipur Dr. Nageshwar Sharma Goa University, Taleigao Rajasthan Former Principal, A.S. College Plateau Goa, Goa. Phone: +91 94146 54360. Deoghar- 814112 Email: [email protected] E-mail: [email protected] Jharkhand Mobile: 9311207872 Mob:09423445350; 07507588171 E.Mail: [email protected]

December 2020 INDIAN ECONOMIC ASSOCIATION Members of the Executive Committee- 2020-21

Gujarat Maharashtra Uttar Pradesh Dr. Babaraju K. Bhat Dr. Ramdas alias Rajendra Bapurao Bhandwalkar Dr Atvir Singh Principal Ambaba Commerce College, Amolakchand Mahavidyalaya, Godanji Road, Yavatmal Professor of Economics, Maniba Institute of Business Management Res, Gajanan Nagar, Pimpalgoan Road, Yavatmal 445001 Ch. Charan Singh University Campus, and Deviba Institute of Computer Application, Mobile: 9423134686, Email: [email protected] Meerut 205004 Sabargam, Surat, Gujarat Uttar Pradesh [email protected] Dr Nishikant Jha Mobile:9837188111 HOD (BAF) at Thakur College of Science Email: [email protected] Ms. Sonali B. Shah & Commerce (Autonomous) 15/A, SMI, Hindu Colony, Mumbai, Mobile: 9820373439 9004883439 West Bengal Oppo. SP Stadium [email protected] Dr. Asim Kumar Karmakar Navrangpuru, School of Professional Studies Ahmedabad Meghalaya Netaji Subhas Open University,Kalyani Gujarat Dr.Sumarbin Umdor, Dept. of Economics NADIA- 741 235 North Eastern Hill University, Shillong, Res: 181/12/A Raja Rammohan Roy Road Haryana Meghalaya 793001 Kolkata -700041,West Bengal Dr. Manoj Siwach Mobile: 9433894995 / 8240829178 Former Registrar CDLU Sirsa, Odissa Email: [email protected] Haryana, 125055 Mr. Kumar Devdutta Mobile: 09416060577 Assistant Professor, School of Engineering, Dr. Sudip Jana Email: [email protected] KIIT University (Bhubaneswar, Odessa Joint Secretary of Bengal Economic Association Mob:91 9437072128, Email:[email protected] Res- 44/1, Ram Charan Seth Road, Himachal Pradesh Swarnabitan Apartment, Flat: 3A, Block-A Dr.Vijay Nag Punjab P.O.: Santragachi, Dist.: Howrah, Asso. Prof. of Economics Pramod Agarwal West Bengal-711104 Government College, Una Mobile: 9433448264 Res: Set No.13, Teachers Colony, Rajasthan Email: [email protected] Govt. College, Una, Dr.S.S.Somra Himachal Pradesh Head Department of Economics, Dr.Sacheen S.Aloney Mob:9418380212 University of Rajasthan, Jaipur-302004. Assistant Professor Email: [email protected] Phone: 9414654360, Email: [email protected] Priyadarshini Indira Gandhi College of Engineering, Nagpur (Maharashtra) Jammu and Kashmir Tamil Nadu Dr.Kakali Majumdar Dr.K.Sudarkodi Invited Executive Committee Members Associate Professor and Head, Principal, Prof. Pulin B. Nayak School of Economics. No.183 B Block, AA Scheme Road, Former Director, Delhi School of Economics Shri Mata Vaishno Devi University, Kamarajar Salai, R.K.Nagar, Mob: 9910592760 Katra, Jammu. Tondiarpet, Chennai – 600 081. Email: [email protected] Email: [email protected] Phone: 94446 80111 E.Mail: [email protected] Dr.R.Balasubramaniyan Jharkhand Former Professor and Head Dr. Nikhil Chandra Jha Dr.S. Karthikeyan Department of Economics Ex-Prof-In-Charge Former Head of the Dept. of Economics D.G.Vishnav College, Chennai 6000106 Associate Professor Presidency College Mob: 9444902077, Former H.O.D. P.G. deptt. S.K.M.U.Dumka Chennai 600005 Email: [email protected] Co-ordinator, C.E.P&R, Res: D22, Sunnyvale Apts Madhupur College, Madhupur 351-Konnur High Road, Ayanavaram Prof.Biswajit Chatterjee A Constituent Unit of S.K.M. University, Dumka Chennai-600002. Professor of Economics, Jadavpur University E-mail ID: [email protected] Mob:984065225 Kolkatta-7000032 Mob: 9431368636. Email: [email protected] Mob: 9830305222; [email protected] Karnataka Telengana Dr. B.M.Nasir khan., M.A., M.Phil., PhD. Professor B. Suresh Lal Dr. Subodh Kumar Sinha Asst. professor and coordinator Department of Economics, HOD of Economics & Principal Dept of P.G Studies in Economics Kakatiya University, Warangal-506009 S.N.S.College, Muzaffarpur Sir .M.V. Government Arts and Commerce College. Telangana State BRA Bihar University, Muzaffarpur, Bihar New Town, Bhadravathi- 577301 Mobile: 903245758 Mob: 9835400078 Karnataka-India ph-+91 9448525658 Email: [email protected] Email: [email protected] Email: [email protected]. Tripura Prof. G M Bhatt Kerala Dr. Nirmalya Debnath Head, Department of Economics and Dean Dr. C.A. Priyesh Asst. Professor School of Social Science, OMKARAM, T.C.18/1314(8),Padmalayam Road-MLA Road, Marketing and Systems Management Central University of Kashmir Kunnapuzha, Aramada Post, Post, Tripura University Sri Nagar, Jammu& Kashmir Thrikkannapuram, Trivandrum-695034, Institution (0381-2379220) Mob: 09469022125; Kerala Residential (0381-2510062) Email: [email protected] Mobile: 98956 77011 Mob:7629821601: 9436565292 Email: [email protected] Email: [email protected] ; All Correspondence to be made to [email protected] Madhya Pradesh Dr.B.P.Chandramohan Prof. Kanhaiya Ahuja Uttrakhand No.28A, S-3, Professor of Economics, School of Economics, Dr Yamini Pandey Devi Ahilya University, Indore-452001 (M.P) Associate Professor, Galaxy Vasantham Apartments Mob:919926020907 Department of Economics V Main Road, Vijayanagar, Email: [email protected] Government Girls Degree College, Behat Velachery, Chennai 600042 Res: House No-210, Lower Nehru Gram Prof. Sharad Tiwari Tamil Nadu P.O-I.I.P, Mohkampur, Dehradun, Govt. Hamidia Arts & Commerce College, Uttrakhand.248005 Mob: 9444932128; 6381733290 Bhopal (M.P) Mobile: 9719104796 Mobile: 94253 72864 Mail id: [email protected] Email: [email protected] Email: [email protected] Special Invites : Nominated Invited Members, Finance Committee Member, Former Presidents of IEA and Chairman/Managing Trustee, IEA Trust for R&D