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Home , Ashok Lahiri, Kaushik Basu, NTPC Kawas, Pallikaranai Wetland, Raja Chelliah, Vijay Kelkar

21st Annual Report

MADRAS SCHOOL OF ECONOMICS 01. Introduction ……. 01

02. Review of Major Developments ……. 02

03. Research Projects ……. 05

04. Workshops / Training Programmes …….. 08

05. Publications …….. 09

06. Invited Lectures / Seminars …….. 18

07. Cultural Events, Student Activities, Infrastructure Development …….. 20

08. Academic Activities 2012-13 …….. 24

09. Annexures ……... 56

10. Accounts 2012 – 13 ……… 74

MADRAS SCHOOL OF ECONOMICS Chennai Introduction

TWENTY FIRST ANNUAL REPORT 2013-2014

1. INTRODUCTION

With able guidance and leadership of our Chairman Dr. C. Rangarajan and other Board of Governors of Madras School of Economics (MSE), MSE completes its 21 years as on September 23, 2014.

During these 21 years, MSE reached many mile stones and emerged as a leading centre of higher learning in Economics. It is the only center in the country offering five specialized Masters Courses in Economics namely M.Sc. General Economics, M.Sc. Financial Economics, M.Sc. Applied Quantitative Finance, M.Sc. Environmental Economics and M.Sc. Actuarial Economics.

It also offers a 5 year Integrated M.Sc. Programme in Economics in collaboration with Central University of (CUTN). It has been affiliated with and Central University of Tamil Nadu for Ph.D. programme. So far twelve Ph.Ds. and 640 M.Sc. students have been awarded. Currently six students are pursuing Ph.D. degree.

The core areas of research of MSE are: Macro Econometric Modeling, Public Finance, Trade and Environment, Corporate Finance, Development, Insurance and Industrial Economics. MSE has been conducting research projects sponsored by leading national and international agencies. It has successfully completed more than 110 projects and currently undertakes more than 20 projects. MSE has published about 85 Working Papers and 30 Monographs in addition to the research articles contributed by MSE faculty in various national and international journals and edited volumes. MSE has been designated as a Centre of Excellence in Environmental Economics by Ministry of Environment and Forest.

MSE has three prestigious Endowment Lecture Series: Dr. Raja J. Chelliah Endowment Lecture (delivered by Shri ), MSE-SAGE Endowment Lecture (delivered by Prof. , Ms. Roopa Purushottaman, Prof. Nirvikar Singh, Dr. Arvind Panagariya, Dr. Subir Gokarn and Dr ), and Shri R.Venkataraman Endowment Lecture (delivered by Dr. R. K. Pachauri, Dr. L. , Professor T.N. Srinivasan, Professor Parthasarathi Shome and Dr. D. Subbarao).

So far about more than 200 eminent scholars delivered the invited lectures at MSE. Some of the prominent invitees are Dr. V.K. Chetty, Dr. Charles Perrings, Dr. Charles Kolstad, Dr. , Prof. C.R. Rao, Prof. Kaushik Basu, Dr. K.P. Kalirajan, Dr. Y.V. Reddy, Dr. Arvind Panagariya, Dr. Govinda Rao, Dr. Parasarathi Shome and Dr. Sudipto Mundle.

MSE has four prestigious Chairs: Hindustan Lever Ltd. Chair in Industrial Economics, T S Santhanam Chair in Financial Economics, Canara Bank Chair in Financial Economics and Union Bank Chair for Excellence in Banking. Ministry of Finance provided Rs. 6 crore Corpus Fund to meet salary expenses of few faculty.

MADRAS SCHOOL OF ECONOMICS Chennai 1 Review of Major Developments

MSE conducts regularly the training programs and the Workshops for Government Officials, Faculty, Research Scholars and Corporate and Bank Officers. So far, MSE had conducted more than 95 Conferences, Training Programmes and Workshops. For the last four years, MSE has been conducting Annual Faculty Seminar Retreat.

2. REVIEW OF MAJOR DEVELOPMENTS (2013-14)

As usual, MSE made significant progress during the Academic Year 2013-14. After shifting courses from and IGNOU this was the first time that student from all Five Masters' Programmes jointly offered by MSE with CUTN were graduated. This was also the first time that CUTN recognized three Ph.D supervisors from MSE and two Ph.D. scholars were registered for their Ph.D. with CUTN. The academic performance of MSE students was maintained at a high level as usual. 48 per cent of them got job offers in the Campus Placement. After completion of construction works, flooring, wood works and electricity connection, the New Academic Block is now operational and classes are held in this block.

MSE Annual Day was celebrated on September 20, 2013 with Dr. K. Ramasamy, Vice-Chancellor, Tamil Nadu Agricultural University, Coimbatore & Member, Tamil Nadu State Planning Commission as the Chief Guest. Dr. A.C. Muthiah, Chairman Emeritus, Southern Petrochemical Industries Corporation & Member, Tamil Nadu State Planning Commission presided over the function.

Dr. D. Subbarao delivered the Fifth Shri R. Venkataraman Endowment Lecture on August 01, 2013 and Dr Arvind Virmani, President, Chintan Live and Former Executive Director, International Monetary Fund delivered the Sixth SAGE-MSE Endowment Lecture on November 28, 2013. The First Dr. Raja J. Chelliah Memorial Lecture was delivered by Shri Montek Singh Ahluwalia Deputy Chairman, Planning Commission, Government of on December 26, 2013 and presided by Dr. C. Rangarajan, Chairman, Economic Advisory Council to the Prime Minister.

MSE faculty published 28 research articles in various national / international journals, 20 articles in edited books/volumes and 5 MSE working papers and 3 MSE monographs during this academic year. They presented 19 research articles during the Fourth Faculty Seminar held at CUTN, Thiruvarur. 96 students completed their M.Sc. dissertations, while one Ph.D. student was awarded Ph.D. degree by University of Madras. Details of other major developments are given below.

Details of major developments are given below.

Faculty and Visiting Faculty ·Dr. Sunil Paul and Dr. Santosh Kumar Sahu were promoted as Assistant Professors with effect from April, 2014. ·As per the recommendations of the Selection Committee which met on December 26, 2013, o Dr. Naveen Srinivasan joined as Professor on June 2014 o Dr. Shrabani Mukherjee joined as Assistant Professor on July 01, 2014 o Dr. Sartaj Rasool Rather joined as Lecturer on July 01, 2014

MADRAS SCHOOL OF ECONOMICS Chennai Review of Major Developments

o Ds. Amrita Chatterjee joined as Lecturer on July 01, 2014 o Ms. Sowmya Dhanraj joined as Lecturer on August 01, 2014 ·Mr. Manas Ranjan Das joined on April 15, 2014 as the Consultant under the Union Bank Chair for Excellence in Banking. ·Dr. Kaushal Kishore and Dr. Madhuri Malhotra resigned due to personal reasons with effect from June 2014 and July 31, 2014 respectively.

M.Sc. Programmes Number of students enrolled in first year and second year M.Sc. programmes and the number of students graduated in May 2014 are:

No. of Students Enrolled in First Year Second Year No. of Students Course (2013-15) (2012-14) Graduated in 2014

M.Sc. General 41 33 33 Economics M.Sc. Financial 33 26 25 Economics M.Sc. Applied 25 17 16 Quantitative Finance M.Sc. Actuarial 16 12 09 Economics M.Sc. Environmental 14 10 10 Economics Total 129 98 93

Approximately 800 students wrote the entrance examination this year. Course wise the number of students admitted in the academic year 2014-15, the number of students from Integrated M.Sc Economics (IMSC) joined and the number of students in the second year are: No. of Students No. of Students No. of Students in Second Year Course (2014-16) from IMSC (2013-15) M.Sc. General Economics 36 3 38 M.Sc. Financial Economics 28 3 33 M.Sc. Applied Quantitative Finance 26 3 24 M.Sc. Actuarial Economics 15 3 15 M.Sc. Environmental Economics 14 3 13 Total 119 15 123

MADRAS SCHOOL OF ECONOMICS Chennai Review of Major Developments

Placement (2012-2014 batch) 42 out of 87 students (48 percent) from all five courses of 2012 -14 batch who participated in the placement process got job offers through the recruitment process. The following companies visited MSE for campus recruitment: CITI Bank, Hewlett Packard (HP), HCL computers, CRISIL, Bridge i2i, TCS, 24*7, Blueocean Market Intelligence, Ford, India Infrastructure Pvt Ltd, WNS Global Services, TRAI, LatentView, Frost and Sullivan, Fractal, JPal. The highest compensation offered was Rs. 11.5 lakh per annum and the lowest was Rs. 4.5 lakh. The average compensation was Rs. 7.28 lakh.

Ph.D. Programme MSE - University of Madras Three full time students and one part time student are pursuing their Ph.D. programme. Ms. J. Prachita was awarded Phd in December 2013. MSE provides scholarship of Rs. 8000/- p.m to full time research scholars without JRF.

MSE – CUTN Ph.D. Programme

Two Full time students are prusing their Ph.D Programme.

The CUTN provides scholarship of Rs. 8000 p.m. to full time research scholars without JRF.

Annual Day Celebrations The Seventh Annual Day function of MSE was held on September 20, 2013. Dr. A.C. Muthiah, Chairman Emeritus, Southern Petrochemical Industries Corporation & Member, Tamil Nadu State Planning Commission presided over the function and Dr. K. Ramasamy, Vice-Chancellor, Tamil Nadu Agricultural University, Coimbatore & Member, Tamil Nadu State Planning Commission was the chief guest. Certificates, prizes, Gold Medal and mementos were distributed to Masters' students who had recently completed their programs. “S. Boothalingam Gold Medal” was awarded to Ms. Sneha Mishra for M.Sc Environmental Economics.

Dr. Raja J. Chelliah Memoral Lecture Madras School of Economics started a new Endowment Lecture Series in the name of Dr. Raja J. Chelliah, “Dr. Memorial Lecture Series” Founder Chairman of MSE and noted fiscal expert and economist with the support of Mrs. Chelliah and Southern Indian Chamber of Commerce and Industry to honour his services to the country in general and to MSE in particular.

The First Dr. Raja J. Chelliah Memorial Lecture was delivered by Shri Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, on “Fiscal Policy in an Open Economy” on December 26, 2013 and presided by Dr. C. Rangarajan, Chairman, Economic Advisory Council to the Prime Minister.

MADRAS SCHOOL OF ECONOMICS Chennai Research Projects

SAGE-MSE Endowment Lecture The Sixth SAGE-MSE Endowment Lecture was delivered by Dr Arvind Virmani, President, Chintan Live and Former Executive Director, International Monetary Fund on “India's Growth in Global Perspective” on November 28, 2013. Shri Jawahar Vadivelu, President of South Indian Chamber of Commerce and Industry presided.

Shri. R. Venkataraman Endowment Lecture The fifth Shri. R. Venkataraman Endowment Lecture “Dilemmas in Central Banking” was delivered by Dr. D. Subbarao, Governor, on August 01, 2013. Mrs. Santa Sheela Nair I.A.S (Retd), Deputy Chair Person, Tamil Nadu State Planning Commission presided over the function.

3. RESEARCH PROJECTS Details of ongoing and recently completed research projects are:

Tamil Nadu's Economy: Progress, Challenges and Opportunities Coordinator: Dr. K.R. Shanmugam Funded by: State Planning Commission

This project started in December 2013. The draft report was submitted in May 2014.

Memorandum to the Fourteenth by Government of Tamil Nadu Consultant: Dr. K.R. Shanmugam Funded by: Department of Finance, Government of Tamil Nadu

This draft report was submitted to the Government of Tamil Nadu in November 2013.

Environment Cost Benefit Study of Kawas Gas Power Project Coordinators: Dr. K.R. Shanmugam and Dr. Sukanya Das (Dr. U. Sankar – Consultant) Funded by: National Thermal Power Corporation The final report was submitted in August, 2014.

Environment Cost benefit analysis of NTPC Dadri Coordinators: Dr K.R Shanmugam, and Dr Sukanya Das (Dr. U. Sankar – Consultant) Funded by: National Thermal Power Corporation The project started in July 1, 2014.

Social Cost Benefit Analysis of Bithnok Lignite Mine Project Coordinators: Dr. U. Sankar, Dr. K.R. Shanmugam & Dr. Zareena Begum Funded by: Neyveli Lignite Corporation Limited The report was submitted to Neyveli Lignite Corporation in June 2013.

MADRAS SCHOOL OF ECONOMICS Chennai Research Projects

Economic Linkage Report: A Detailed Regional Economic Analysis of Three Sub-Regional Growth Centres in Uttar Pradesh Consultant: Dr. K.R. Shanmugam

The project started in April 2014 and draft report was submitted in July 2014.

NBFCs in India – Achievements, Opportunities and Challenges Coordinators: Dr. K.R. Shanmugam, Dr. Kannan and Dr. Saumitra Bhaduri Funded by: Finance Companies' Research and Development Foundation

This project started in April 2014.

Insulating Public Utility Pricing from Policy Fluctuations for Sustainable Growth: Power and State Road Transport Coordinator: Prof. U. Sankar Funded by: Fourteenth Finance Commission, Government of India

The final report was submitted in June 2014.

Sustainable Consumption and Production Coordinator: Prof. U. Sankar Funded by: United Nations Development Programme

The draft final report was submitted on 14 August, 2014.

Integrated Sustainability Assessment of Bioenergy Potentials in Asia: An Application of a Hybrid Approach on Trade-offs and Pathways (PIC-STRAP) Coordinator: Dr. K.S. Kavi Kumar Funded by: Asia Pacific Network for Global Change Research

This two year project has started in June 2013.

Coastal Capital: An Economic Valuation of Coastal and Marine Ecosystem Goods and Services in India Coordinator: Dr. K.S. Kavi Kumar and Dr. Lavanya Funded by: National Centre for Sustainable Coastal Management This project started in June 2014.

Economic Valuation of Ecosystem Services: A Case Study of Ousteri , Puducherry. Coordinator: Dr. Zareena Begum. I Funded by: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Indo- German Biodiversity Programme Office.

MADRAS SCHOOL OF ECONOMICS Chennai Research Projects

This project has started and the first Installment is to be released by the end of July 2014.

Leveraging Agriculture for Nutrition in South Asia Coordinator: Dr. Brinda Viswanathan Funded by: Department for International Development (UK) through MSSRF

The project started in March 2013.

Rural Hybrid Energy Enterprise System (RHEES) Coordinator: Dr. R. Hema Funded by: Department of Science and Technology (India) and the Research Council of UK (RCUK)

This project started in August 2013.

Tamilnadu Electricity Governance Initiative (TEGI) Coordinator: Dr. R. Hema Funded by: World Resources Institute

This project started in April 2012. A presentation was made to the State Planning Commission in September 2013.

Policy Determinants of Household Economic Development (PDHED) Coordinators: Dr. Sukanya Das and Dr. Santosh Kumar Sahu Funded by: MSSRF, Chennai

This project started in November 2013.

SARASWATI- Supporting Consolidation, Replication and Upscaling of Sustainable Wastewater Treatment and Re-Use Technologies for India Coordinator: Dr. Sukanya Das Funded by: EU-India DST This project started in January 2013.

Convergence between Corporate Governance and Corporate Social Responsibility: Implications for Sustainability of Indian Companies Coordinators: Dr. Ekta Selarka and Prof. Saumitra Bhaduri Funded by: The Indian Council of Social Science Research

The project started in June 2013.

MADRAS SCHOOL OF ECONOMICS Chennai Workshops / Training Programmes

Determinants of Non-Traditional Agricultural Exports: Study of Horticulture Industry in India. Coordinator: Dr. Madhuri Saripalle Funded by: South Asia Network of Economic Research Institutes (SANEI)

The first draft report was submitted.

Promoting Employment and Skill Development in the Manufacturing Sector in India: A Study of Electronics Industry In Chennai Coordinator: Dr. Madhuri Saripalle Funded by: Institute for Human Development (IHD) and Sponsored by International Labor Organization (ILO)

The first draft of the final report has been prepared by IHD and will be submitted to ILO.

Centre of Excellence in Environmental Economics

Economy-wide Impacts of Pollution in India – Meta-Analysis Coordinator: Dr. Zareena Begum and Dr. Sukanya Das Funded by: Ministry of Environment and Forest, Government of India

The final report was submitted in October 2013.

Environmental Sustainability Indicators for India: Framework and Estimation Coordinator: Dr. K.S. Kavi Kumar Funded by: Ministry of Environment and Forest, Government of India

This project started in June 2013.

4. WORKSHOPS / TRAINING PROGRAMMES ØState Level Seminar on “Competition Reforms in Indian Electricity Sector” organised jointly by MSE and Nathan Associates on January 31, 2014.

ØA 10-day Training Programme on “Time Series Econometrics and Applications” for the Senior Level IES Officers, Government of India, organised by MSE and funded by Ministry of Finance through TIES during March 19-28, 2014.

ØWorkshop on “Policy Determinants of Household Economic Development” sponsored by MSSRF, Chennai under project on Policy Determinants of Household Economic Development (PDHED) on July 19, 2014.

MADRAS SCHOOL OF ECONOMICS Chennai Publications

5. PUBLICATIONS A) Books / Edited Books

Siddharthan N S and K Narayanan (Guest Editors) (2013), Innovation and Development, Routledge, special issue on Innovation and Global Competitiveness: Case of India's Manufacturing Sector, 3(1), October 2013.

Srivastava, D.K. and K.S. Kavi Kumar (ed.) (2014), Environment and Fiscal Reforms in India, Sage Publications (forthcoming).

Shanmugam, K.R. and K.S. Kavikumar (2014) Environment and Development, SAGE Publication (under review).

B) Articles in Journals

Bhaduri, Saumitra N., (2014), “An Alternative Test of Herding: A Threshold Regression Approach, Advances in Investment Analysis and Portfolio Management, Volume 6 (2014), pp.265-275.

Bhaduri, Saumitra N., (2014), Applying Approximate Entropy (ApEn) to Speculative Bubble in the Stock Market, Journal of Emerging Market, April 2014 13: 43-68.

Bhaduri, Saumitra N. and Siddharth D. Mahapatra, (2013), “Applying an Alternative Test of Herding Behavior: A Case Study of the Indian Stock Market”, Volume 25 (2013), pp. 43–52.

Bhaduri, Saumitra N., (2014), “The Empirical Relationship between Dividend & Investment: Evidence from an Emerging Economy, India” forthcoming in Review of Market Integration

Bhaduri, Saumitra N., and Amit Kumar, “Allocation of Capital in the Post Liberalized Regime: A Case Study of the Indian Corporate Sector, forthcoming in Development Studies Research.

Das Sukanya, Rahut D.B., De Groote H and Behara B (2014), “Determinants of Household Energy use in Bhutan”, Energy, Volume 69(1), pp 661-672.

Kavi Kumar, K.S. and B. Viswanathan (2013), “Influence of Weather on Temporary and Permanent Migration in Rural India”, Climate Change Economics, 4(2).

Kavi Kumar, K.S. and B. Viswanathan (2013), 'Household Level Pollution in India: Patterns and Projections', Climate and Development, 5(4): 288-304.

Malhotra, M., M. Thenmozhi and Arun Kumar Gopalaswamy (2013) “Factors Influencing Stock Returns around Bonus and Rights Issue Announcements”, IUP Journal of Applied Finance, October.

MADRAS SCHOOL OF ECONOMICS Chennai Publications

Madhuri Malhotra (2014) “Rationale for Consciousness in Business Organizations, International Journal of Dharma Studies, (paper under review).

Purohit Brijesh C., (2013), “Efficiency of Social Sector Expenditure in India", Healthcare in Low-resource Settings, November 3, 2013.

Rangarajan, C. (2013), “Dynamics of Inflation”, The Indian Economic Journal, Vol. 60, No. 1, April-June 2013.

Rangarajan, C. and Alok Sheel (2013), “Relevance of Keynesianism in the Post-Recession Period”, Economic and Political Weekly, August 17, 2013.

Rangarajan, C., Padma Iyer Kaul and E.M. Vibeesh (2013), “Convergence – Have the Lower Income States 'Caught Up'?” Money & Finance, ICRA Bulletin, February 2014.

Rangarajan, C., Seema and Vibeesh EM (2014), “Developments in the Workforce between 2009-10 and 2011-12”, Economic and Political Weekly, June 7, 2014. Vol. XLIX No. 23.

Sankar, U. ( 2014), “Energy, Environment and Sustainable Development” (invited paper), Yojana, May 2014.

Santosh Kumar Sahu and K. Narayanan (2014), “Carbon Dioxide Emissions from Indian Manufacturing Industries: Role of Energy and Technology Intensity”, Review of Business and Economics Studies, Vol, 1, No. 2, pp. 60-73.

Santosh Kumar Sahu and K. Narayanan (2013), “CO2 Emission and Firm Heterogeneity: A Study of Metal and Metal Based Industries in India”, International Journal of Energy Technology and Policy, Vol. 9, No. 2, pp.110-127.

Selarka Ekta and J. Sarkar (2013), Status Note on Gender Diversity in Indian Boards, ISB INSIGHT, 2013.

Sunil Paul and M. Ramachandran (2013) “Do Currency Equivalent Monetary Aggregates have an Edge over their Simple Sum Counterparts?” South Asian Journal of and Public Finance (Sage), 2, 107-143.

Sunil Paul, Lagesh, M. A., and Mohammed Kasim M. “Commodity Futures Indices and Traditional Asset Markets in India: DCC Evidence for Portfolio Diversification Benefits” Global Business Review (Sage) (forthcoming, October-December 2014)

Viswanathan, B. (2013) 'Variations in Women's Heights across Social and Religious Groups among Indian States', Social Indicators Research, DOI 10.1007/s11205-013-0531-4, Online First Publication.

Viswanathan B. and J. V. Meenakshi (2013) 'Estimation of Calorie Norms and Measurement of Food Intakes: Some Implications for the Magnitudes of the Prevalence of Undernutrition in

MADRAS SCHOOL OF ECONOMICS Chennai Publications

India', Indian Economic Review, Vol. 48 (1), 167-188, [Special Issue on “Perspectives on Economic Development and Policy”].

Viswanathan, B. and K. Shanthi 'Gender Dimensions of Migration and Labour Force Participation in India: Evidence from NSSO data', Sarvekshana Issue No.99, forthcoming.

Zareena Begum Irfan and Bina Gupta, Poonma Malik (2013), “Recovery of Uranium, Thorium and Zirconium from Allanite by Extraction Chromatography using Impregnated Chromosorb”, Water Resources and Industry, 4, 21-31

Zareena Begum, I (2014), “'An Integrated Assessment of Ecosystem Modification and Human Wellbeing in the Karukachal Region of Kerala, India”, Journal of Environmental Systems Research (Accepted)

Zareena Begum Irfan, Jeeva Mary Jacob and Karthick Radhakrishnan (2014): 'Indian Delta's Anguish: A Game theoretical approach to the Conflict across Kaveri River Water Sharing', International Journal of Environmental Policy and Decision Making (Accepted)

Zareena Begum Irfan and Bina Gupta (2014): 'Decontamination of As(III) from Water Resource using Flat-Sheet Supported Liquid Membrane containing Cyanex 301 as Carrier', Water Resources and Industry (Accepted)

C) Articles/Papers in Edited Books Das S and Prasad N (2014) “An Initiative towards Curbing the Usage of Plastic Bags in Supermarkets: a Case Study in Chennai” in Kinnamann T and K Takeuchi (ed.) Handbook of Waste Management, Edward Elgar Publishing Ltd.

Kavi Kumar, K.S. (2014), 'State of Environment', in V.K. Natraj and A. Vaidyanathan (ed.) Development Narratives: The of Tamil Nadu, Academic Foundation, New .

Kavi Kumar, K.S. and B. Viswanathan (2013), “Household Level Pollution in India: Patterns and Projections”, in R. Maria Saleth, S. Janakarajan and L. Venkatachalam (ed.) Indian Economy in Transition: Emerging Issues and Challenges-Essays in Honor of C.T. Kurien, SAGE Publications (forthcoming).

Malhotra, M. and D. P. Satsangi (2014) “Creative Actions lead to cosmic Consciousness” in “Towards a Science of Consciousness”, 20th Anniversary, Center for Consciousness studies, April 21-26, 2014, Page No 218.

Malhotra. M. and S. Malhotra (2013), “Rationale for Consciousness in Business Organizations” in "Towards a Science of Consciousness”, March 3-9, 2013, Dayalbagh Agra, India.

MADRAS SCHOOL OF ECONOMICS Chennai Publications

Rangarajan, C. (2013), “Resurgence and limitations of Keynesianism” with Alok Sheel in Raj Kapila and Uma Kapila (ed.) Economic Developments in India, Academic Foundation, Volume 191.

Sankar, U. “Globalization and Indian Economy: Issues and Concerns”, in S.Janakarajan, L.Venkatachalam and Maria Saleth (eds), Indian Economy in Transition: Emerging Issues and Challenges, Sage Publications, forthcoming.

Santosh Kumar Sahu and K. Narayanan (2013), “Labour and Energy Intensity: A Study of Pulp & Paper Industries in India”, in N. S. Siddharthan and K. Narayanan (eds.) Human Capital and Development, Chapter 5, pp. 55-76, Springer, ISBN: 978-81-322-0856-3.

Saripalle Madhuri, “Automobile Industry- A Case Study” in International Trade and Industrial Development in India: Emerging Trends, Patterns and Issues, Orient Blackswan, edited by C. Veeramani and R. Nagaraj

Saripalle Madhuri, “Supplier Relations in the Indian Automotive Industry”, in “Trade and Industry”, Orient Blackswan, forthcoming as part of IGIDR Silver Jubilee Conference Proceedings.

Selarka Ekta (2014), "Corporate Governance, Product Market Competition and Firm Performance" - in Boubaker and Nguyen (ed.) Corporate Governance - Theories, Practices and Case, Springer Verlag.

Selarka Ekta and Jayati Sarkar, (2014), “Status Note on Gender Diversity in Indian Boards” in ISB INSIGHT.

Shanmugam K.R and Prachitha J (2013) “Health Outcome Efficiency of the Indian States” a Chapter in “Environment and Development” (ed.) (forthcoming).

Swarna Sadasivam Vepa, Brinda Viswanathan, R.V. Bhavani, Sandipta Dhas and Vinodhini Umashankar, “ Women's Agency and Child Underweight Rates in India' accepted for Routledge Publication titled “Under Nutrition in India and Public Policy” by IDS-NCAER.

Viswanathan, B. (2014), 'Trend and Pattern of Employment in Tamil Nadu: Some Recent Trends, 1980s versus 1990s', in V. K. Natraj and A. Vaidyanathan (eds.), Development Narratives: The Political Economy of Tamil Nadu, Academic Foundation.

Viswanathan, B. and Kavi Kumar, K.S. (2013), “Household Level Pollution in India: Patterns and Projections”, in R. Maria Saleth, S. Janakarajan and L. Venkatachalam (ed.) Indian Economy in Transition: Emerging Issues and Challenges-Essays in Honor of C.T. Kurien, SAGE Publications, forthcoming.

Viswanathan, B. and Padmini Desikachar, “Measuring Labour Market Insecurity in Rural India: A Gendered Analysis” in R. Maria Saleth, S. Janakarajan and L. Venkatachalam (ed.)

12 MADRAS SCHOOL OF ECONOMICS Chennai Publications

Indian Economy in Transition: Emerging Issues and Challenges-Essays in Honor of C.T. Kurien, SAGE Publications, forthcoming.

Viswanathan, B. (2014), “Under Nutrition in India: Evidence and Intervention”, Background Paper for R. Malhotra, India Public Policy Report 2014: Poverty, Hunger and Malnutrtion, () and Jindal School of Government and Public Policy (Sonipat, Haryana).

Zareena Begum, I., (2014): Chapter: 'Urban Water Reuse Policy', in Eslamian, S, Francis and Taylor (ed.) Urban Water Reuse Handbook (UWRH), CRC Group (Forthcoming).

Zareena Begum Irfan, (2014): Chapter: “Urban Water Reuse Risk”, in Eslamian, S, Francis and Taylor (eds.) Urban Water Reuse Handbook (UWRH), CRC Group (Forthcoming)

D) MSE Working Papers Anubhab Pattanayak and K.S.Kavi Kumar, (September 2013), “Weather Sensitivity of Rice Yield: Evidence from India”, MSE Working Paper No. 81.

Santosh Kumar Sahu and K. Narayanan, (September 2013), “Carbon Dioxide Emissions from Indian Manufacturing Industries: Role of Energy and Technology Intensity”, MSE Working Paper No. 82.

Madhuri Saripalle (November, 2013), “R and D Spillovers across the Supply Chain: Evidence from the Indian Automobile Industry”, MSE Working Paper No. 83.

Peter J. Lambert and S. Subramanian (May 2014), “Group Inequalities and 'Scanlan's Rule': Two Apparent Conundrums and How We Might Address Them”, MSE Working Paper No. 84.

Pankaj Kumar and Naveen Srinivasan (June 2014), “Unraveling India's Inflation Puzzle”, MSE Working Paper No. 85.

E) MSE Monographs C Bhujanga Rao (January 2014), “Appraisal Of Priority Sector Lending By Commercial Banks In India”, MSE Monograph No. 27.

D.K. Srivastava, K.R. Shanmugam, K.S. Kavi Kumar and Madhuri Saripalle (March 2014), “Fiscal Instruments for Climate Friendly Industrial Development in Tamil Nadu”, MSE Monograph No. 28.

Brinda Viswanathan (July 2014), “Prevalence of Under Nutrition and Evidence on Interventions: Challenges for India, MSE Monograph No. 29.

MADRAS SCHOOL OF ECONOMICS Chennai 13 Publications

F) M.Sc. Dissertations i) M.Sc General Economics

Akshay Jain, “Measuring the impact of Monetary Policy on Asset Prices in India” Amol Mishra, “Analysis of Monetary Policy: Pre and Post Crisis” Ann Raymond, “A Study on the Determinants and Volatility of Migrant Remittances to India” Annadurai Adhirai, “Corporate Credit in India” Arjun Srinivas, “Market Segmentation in the Pharmaceutical Industry “ Arpita Ghosh, “Determinants of FDI: A Study Using Q Model of Investment” Arzina Hossain, “R&D Spillovers in Electronics Industry” Avinash Shroff, “Economies of Organic Farming in Tamil Nadu” Barun Kumar, “Revenue - Expenditure Nexus for Northern states in India : An Econometric observation with Policy Insights”

Benjamin Thomas Ipe, “A State Level Analysis of the Impact of PDS on the Calorie Consumption of the Lowest Decline”

Deepak Kumar, “Impact of Agricultural Growth and Instability on Poverty”

Dinesh Kumar Choudhury, “Determinants of FDI Inflow in Developing Countries of Asia”

Divya James Athoopallil, “Responsiveness of Employment to FDI”

Ekta Joshi, “Linkages between Education and Economic Growth”

Ishan Roy, “Outsourcing, Market Structure & Production technology”

Lamyanba Meetei S, “Linkages between Agricultural GDP”

Lydia De Salma, “Impact of VAT and Inflation: An Inter Country Analysis”

Manisha Sahai, “ICDS in India: Last 37 years”

Maria Jose, “Linking Agriculture and Nutrition”

Mayank Jain, “Long term Impact of Political Ideology on Development Indicators: A Study of Indian States”

14 MADRAS SCHOOL OF ECONOMICS Chennai Publications

Monika Bansal, “Engine of Growth: Manufacturing Or Services

Naweed Ahmed, “Interstate R&D Spillovers in India”

Nikita Dhingra, “Indian Growth Story: Role of Institution and Policies”

Niranjan M, “Revenue of Performance of Organized and Unorganized Retail”

Raj Priyadarshi, “Size, Age and Growth of Firms in IT Industry”

Rajdeep Mitra, “Productivity Spillovers from FDI on Domestic Firms”

Ruma Kumari, “Impact of Rainfall Variations on Agricultural GDP (Panel Data Analysis)”

Shailendra Kumar, “Determinants of Investor Valuation of R&D Exp in IT Industry”

Shilpa Arora, “Returns of Higher Education of in India”

Snehaj, “Marketing Democracy: Can Countries Market Political Structure to Attract Business”

Soundar Rajan R. S, “Feasibility Study of Alternative Feed Stocks of Biofuels: Biofuels Policy Perspective”

Suganya B, “Contingent Valuation of Wetland”

Vidya Bharathi R, “Development Needs & Government Responsiveness- Assuming the Linkage in Indian States” ii) M.Sc Financial Economics

Aditi Bhattacharya, “The Effect of a Firm Financial Structure on Physical Accumulation”

Aditya Arora, “Predicting Financial Crisis Using Early Warning System”

Afreena Rehman, “Diversification, “Ricardian Rent and Tobin's Q: An Empirical Study of Indian Industries”

Akash Banerjee, “Co integration of Business Group Strategies: A Long Run Analysis”

Akshay Kapur, “The Structure of Linkages and Causal Relationships Between BRIC and Developed Equity Markets”

Amitendra Singh Thenua, “Impact of Family Firms on Capital Structure Decisions”

Anish Vikram, “Role of Voluntary Organizations in Health Care Sector: A Case Study for Developing Countries”

MADRAS SCHOOL OF ECONOMICS Chennai 15 Publications

Ankita Dimri, “Convergence between Corporate Governance and CSR in the Indian scenario”

BNS Kumar, “Sustainability Index - A Leading Indicator to Forecast Crisis”

Debajyoti Das, “Price Transmission in Onion Market for India”

Debarghya Roy, “Impact of Capital Structure on Firm Performance”

Himadri Shekhar Chakrabarty, “Impact of Political Instability on Growth of Indian States”

Irshikaa Mehrotra, “Risk and Economic Capital: A Study of Indian Banks”

Iti Vats, “Corporate Governance and NPA in Banks”

Julie K, “Sources of Output Growth in Manufacturing”

Leeza Mathew, “Market Reaction to Appointment of Female Directors”

Megha Grover, “FDI in Innovation Clusters”

Meghna Rajeev, “Efficiency of the Banking Sector in India”

Mohit Gupta, “Herd Behavior in Financial Markets: An Experiment with Financial Market Professionals”

Rahul Kumar Som, “Banking Sector: Size and Efficiency”

Sarbani Ghosh, “Transmission of Bubbles across Markets”

Shayak Mukherjee, “Stock Price Volatility and Dividend Policy in the Indian Context”

Sourish Chakraborty, “Public Distribution System in India”

Subhrajit Choudhury, “Political Instability hindering Economic Development”

Suraj Kumar, “Monetary Transmission Mechanism” iii) M.Sc Environmental Economics

Abhijit Sharan, “Circulation Economics – Dynamic Material Flow Analysis Of Metal Trade In India”

Jagriti Kumari, “Poverty, Nutrition and Environment Nexus: Assessment of Gujarat and Madhya Pradesh”

16 MADRAS SCHOOL OF ECONOMICS Chennai Publications

Manav Pachnanda, “Renewable Energy”

Megha Nath, “The Role of Education on Climate Change Decision Making In India”

Mishika Sama, “Factors Affecting Vehicle Sales across Different Indian States”

Pallavi Nahata, “Currency Crisis”

Parisha Budhiraja, “How Division of State Affect Environment, Economic Growth And Development”

Priya Sara Behanan, “Energy Efficiency in Buildings”

Shivam Malhotra, “International Trade and Environment Linkage between India and Asian Countries”

Thomas Alex, “Techno Economics Assessment of Electronic Waste Throw Material Flow Analysis and Management Scenario”

IV) M.Sc Actuarial Economics

Amoolya Elizabeth Prakash, “Financial Inclusion” Anwesha Roy, “Micro insurance In India” Deepa Janakiraman, “JNNURM and Its Effect on The Development of Indian Cities” Deepak George Jacob, “Sliding Rupee” Elna James Kattoor, “Estimation of Equity Risk Premium” Meenakshi Dhiman, “Evolution of Pension Business in India” Piyu Jain, “Insurance or Propensity of Pension Market in India”

Romita Bhattacharya, “Influence of GDP Rate and Inflation Rate on Unemployment in Indian Economy”

Sanjay Bhardwaj S, “Brand Scorecard”

Sondeep Chakravarty, “Technology Portfolio & Market Value in: The Automobile or Pharma Sector”

Subarna Gayen, “Lapsed Policy of Life Insurance”

Sweta, “The Effects of Tax Policies on R&D (of Firms/Industries) In India”

MADRAS SCHOOL OF ECONOMICS Chennai 17 Invited Lectures / Seminars

V) M.Sc Applied Quantitative Finance

Anshula Shukla, “Early Warning Systems”

Bindhu B. L, “Importance of Credit Risk in Business Cycle of Banks in India”

Chinmay Sinha, “Prediction of Stock Market Variables Using Machine Learning Techniques”

Gurinder Singh, “Impact of Reforms on Asset Quality in Indian Banking”

Ishan Kamal, “Credit Risk and Efficiency in Indian Banking Sector”

Jagtar Singh Dua, “Oil Prices' Effect on Stock Markets”

Jimut Bahan Chakrabarty, “Advertisement and Competition”

Krishnaveni P, “Stock and volatility”

Manasa Mishra, “Innovation R&D Efficiency and Impact of Regulations: Study of Indian Manufacturing Firms”

Megha Joshi, “Economic Consequences of Advertising: A Case Study of Indian Firms”

Navneet Kumar, “Manufacturing Sector in India- Past, Present, & Future”

Neha Jangpangi, “Energy Sector Crisis in India”

Nidhish Kumar, “Real and Monetary Determinants of Real Exchange Rate Behavior”

Pritam Jyoti Changkakoty, “Capital Market of India and Its Reforms”

Saksham Shubham, “Inflow of FDI in Indian Manufacturing Sector”

Sonali Agarwal, “Operational Risk”

Vandhana Sivakumar, “Constructing a Real Estate Market Index”

6. INVITED LECTURES / SEMINARS

Seminars 04/10/13, Mr. Pravin Chandrasekaran, Managing Director at Opal Crest, UK, “Agriculture Commodity Derivatives Trading”.

18 MADRAS SCHOOL OF ECONOMICS Chennai Invited Lectures / Seminars

23/10/13, Dr. Shandre M Thangavelu, Associate Professor, Department of Economics, National University of Singapore, “Human Capital, FTAs and Foreign Direct Investment Flows into ASEAN”.

04/11/13, Dr. M. S. Suneetha, Visiting Researcher, Madras School of Economics & Adj Senior Research Fellow, UNU-IAS (Tokyo), “The Economics of Biodiversity and Ecosystems: Finding Reasons to Secure your Food, Health and Wellbeing”.

14/02/14, Prof. Peter J. Lambert, Department of Economics, University of Oregon, Oregon , “Inequality, Welfare and Redistribution”.

20/02/14, Mr. Suryamoorthy, Ramkrishna Math, Chennai, “Ten Commandments of Spiritual Economics of Swami Vivekananda”.

24/02/14, Prof. Paul Frijters, Professor of Economics, University of Queensland, Brisbane and Adjunct Professor at the Australian National University's Research School of Social Sciences, “When Banana Import Restrictions Lead to Exports: A Tale of Cyclones and Quarantine Policies”.

25/02/14, Prof. Peter J. Lambert, Department of Economics, University of Oregon, Oregon, “Disparities in Socio-Economic Outcomes: Some Positive Propositions and their Normative Implications”.

07/05/14, Dr Sreejata Banerjee, Visiting Faculty (MSE), “Operational Efficiency of Banks in India: A Profitability and Soundness Conundrum”.

Fourth MSE Seminar Retreat Series

27/02/14, Dr. Saumitra Bhaduri, “Target Leverage and Speed of Adjustment: It Takes Two to Tango”.

27/02/14, Dr. Sreejata Banerjee, “Vector Autoregressive Approach to Macro Stress Test of Banks Operating in India”.

27/02/14, Dr. Swarna Vepa, “Variations in the Spread of Micro Credit: Bank-SHG Linkage Programme”.

27/02/14, Dr. Madhuri Saripalle, “R&D Spillovers across the Supply Chain: Evidence from the Indian Automobile Industry”.

27/02/14, Dr. A. Balasubramanian, “Status Report on Corporate Social Responsibilities in India: A Comparative with Rest of the World”.

27/02/14, Mr. Anubhab Pattanayak, “Weather Sensitivity of Rice Yield in India – Some Distributional Aspects”.

28/02/14, Dr. K.R. Shanmugam, “Impact of State VAT on Wholesale and Retail Prices”.

MADRAS SCHOOL OF ECONOMICS Chennai 19 Cultural Events, Student Activities, Infrastructure Development

28/02/14, Dr. Paul P. Appasamy, “Has Economic Growth Worsened Inter-District Inequality in Tamil Nadu?”.

28/02/14, Dr. K.S. Kavi Kumar, Jatropha Cultivation for Biodiesel: Implications for Food Security and Rural Livelihoods”.

28/02/14, Dr. Zareena Begum, “Green Accounting of the Indian Metal Mining Sector”.

28/02/14, Dr. Brinda Viswanathan, “Farm Production Diversity, Consumption Diversity and Women's BMI: A Study across Rural Indian Farm Households”.

28/02/14, Dr. Sukanya Das, “Health Impacts in Air and Water Pollution in India: A Systematic Review”.

28/02/14, Dr. R. Hema, “Comparative Analysis of Costs and Returns for Different Methods of Rice Production”.

07/03/14, Dr. Ekta Selarka, “Corporate Governance and Excess Cash Holdings: Evidence From Indian Corporate Sector”.

07/03/14, Dr. C. Sunil Paul, “Commodity Futures Indices and Traditional Asset Markets In India: DCC Evidence for Portfolio Diversification Benefits”.

07/03/14, Dr. Madhuri Malhotra, “Rationale for Consciousness in Business Organizations and Institutions”.

07/03/14, Dr. Santosh Kumar Sahu, “Determinants of Energy Intensity in Indian Manufacturing Industries: A Dynamic Panel Data Analysis”.

07/03/14, Dr. Kaushal Kishore, “Preferential Taxation of Large Investors”.

07/03/14, Dr. Brijesh Purohit, “Water Borne Diseases and Sanitation in India”.

7. CULTURAL EVENTS, STUDENT ACTIVITIES AND INFRASTRUCTURE DEVELOPMENT

Arthiki

The 8th annual economics festival, Arthiki, was held on March 14-15, 2014. Almost 300 students from colleges across Chennai, as well outstation colleges such as St. Xavier's College (), Christ College (Bangalore) and IIM (Trichy) participated in the festival. New and innovative events like Economist Premier League, The Lobbyist, Ace-the-Case were introduced. In the two-day Speakers' Conclave, prominent public intellectuals like Dr. Shiv Visvanathan, eminent Sociologist and Vice-dean, Jindal School of Government & Public Policy and Dr. Vinod K. Jose, Executive Editor, The Caravan Magazine, Dr. Ashok Malik, Senior Political Journalist and Dr. R. Kanan, Visiting Faculty, MSE were invited. The Speakers' Conclave was covered in as a special

20 MADRAS SCHOOL OF ECONOMICS Chennai Cultural Events, Student Activities, Infrastructure Development feature on March 17th newspaper. Mr. N. Ravi, the Editor-in-Chief of The Hindu gave a Keynote Address.

The title sponsor of Arthiki was JK Tyres. It was co-sponsored by TVS. Chennai Live and 104.8 FM were Radio Partners. ITC Sheraton Park was hospitality partner and The Hindu was print partner. Sponsorship was also received from , ONGC, Chennai Petroleum Corporation Ltd, Canara Bank.

SPIC MACAY SPICMACAY organised a Hindustani Classical instrumental program by Dr. Kamala Shankar (playing Shankar Guitar) at MSE on August 30, 2013.

SPICMACAY organised a Shehnai performance by Sanjeev and Ashwani Shankar accompanied by Tabla player, Sri Nisar Ahmed on February 12, 2014 at MSE

Other Activities

ØTwo of our students (Jerryn Thomas Cherian and Prasannjit Mishra) have been selected for the Round 1 (February 7, 2014) and Round 2 (June 14, 2014) of the National Creativity Aptitude Test (NCAT) 2014. They have been selected for a residential IIT Certificate Course of one week at IIT Delhi on creativity.

ØAthena, the annual Economics & Finance magazine of MSE, was released by Mr. Ravi, Editor-in-Chief, The Hindu on March 15, 2014.

ØMs. Shikha Dahiya from General Economics (Batch 2011-13) has been recommended for appointment in Indian Economic Service, based on the performance in IES/ISS Exam conducted by UPSC in May 2014.

ØClass toppers Ms. Divya Midha from M.Sc. General Economics and Mr. Disha Kumar from M.Sc. Financial Economics received a cash price of Rs. 5000/- each from Southern Indian Chamber of Commerce and Industry.

Library

MSE library has OPAC (online Public Access Catalogue) facility to cater to the information requirements of the users.

Library is automated by using “LIBSYS” Library Software Package. MSE library has been included in the IMF Depository Library Programme. Electronic journals in Economics, Environment Finance, Actuarial Science etc. are made available through our subscription to Indiastat.com, Cmie- Prowess, Delnet, -e library, Economic and political weekly CD Rom databases, National Family Health Survey, National Sample survey unit records data, JSTOR and Econ Lit. Bibliographic details of books, journals, reports, and CD-ROM databases are accessible through a campus-wide network. Online Public Access Catalogue has been installed in the journal section for the general

MADRAS SCHOOL OF ECONOMICS Chennai 21 Cultural Events, Student Activities, Infrastructure Development users. The library has institutional membership with the British Council Library and the American Library. The Library has access to electronic data bases which are permissible to Central University of Tamil Nadu through INFLIBNET E- Consortium

An in-house “Digital Library” is being developed which is accessible via the internet for internal users. The Digital library has 5642 documents and has a search facility for fields like author, year, title, subject etc.

The library has 11713 books which include 1017 books purchased through Central University of Tamil Nadu, Thiruvarur, 5883 reports, 746 theses, 2772 back volumes, 295 compact discs, 3337 working papers, 134 occasional papers, 739 monographs and 807 discussion papers. MSE receives 46 national and international journals.

Display of new arrivals of books in acrylic shelves are done for the benefit of the users. The same information is posted in our website and circulated to all the users through electronic mail. To facilitate the users for easy and quick access of books, shelf guides have been affixed to book shelves. Journal content alert is posted in our website fortnightly and it is also circulated to all the users through electronic mail.

Computers and Other Facilities The Computer Centre of Madras School Economics has the state-of-the-art computing resources and networked structures across the campus. All the buildings including hostels in the campus are part of the campus LAN and all the services available on the LAN can be accessed from any node. Internet facilities are provided throughout the campus through 20 Mbps dedicated leased lines and strong firewall is being used to control the access to websites, thus, making the campus network not only reliable, but also secure from any intrusion attack. MSE website and Centre of Excellence websites has been regularly updating with new features. Through web facility the Web server and Mail server are functioned round the clock and kept it in dedicated room within the campus with Nil Downtime.

MSE's computing resources include 5 HP server, 140 desktops and 28 laser printers. Network printing facility is available on a wide variety of printers and can be accessed from anywhere in the campus. Other equipment available in the centre includes Notebooks, CD/DVD Writers, High quality Scanners and LCD Projectors. A wide range of latest statistical packages such as Stata, Eviews, Matlab, SAS, Gauss, WINRats and GIS software MapInfo Professional have been made available for the users.

22 MADRAS SCHOOL OF ECONOMICS Chennai Cultural Events, Student Activities, Infrastructure Development

Administration and Finance

Board of Governors The Board of Governors met twice during the year on September 07, 2013 and April 19, 2014. The Annual General Body meeting was held on September 07, 2013.

Donations/Grants/Fees During 2013-14 we have received the following donations.

·Mrs. Sita Chelliah has contributed Rs. 5 lakh

·Canara Bank sponsored Rs. 10 lakh for two Gold Medals to toppers in M.Sc. General Economics and M.Sc. Applied Quantitative Finance

MADRAS SCHOOL OF ECONOMICS Chennai 23 Academic Activities 2013-14

ACADEMIC ACTIVITIES 2013-14

C. Rangarajan Chairman

Lectures Invited “India as an Investment Destination” at The Hindu 's Investment and Opportunities Fair, Chennai on 3.5.2013.

“Containing the Demand for Gold” at the ASSOCHAM 6th International Gold Summit, India: Global Gold Trading Hub, New Delhi on 15.5.2013.

“Relevance and Importance of Labour and Employment Statistics” at the National Statistics Day, Ministry of Statistics and Programme Implementation, Government of India, New Delhi on 29.6.2013.

“Indian Economy – Some Immediate Concerns” at the Delhi School of Economics – The Indian Golden Jubilee Conference, New Delhi on 22.8.2013.

11th Justice S. Rangarajan Memorial Lecture on “Emerging Economic Challenges – Can We Meet Them?” at Bangalore on 10.9.2013.

“The Indian Banking System – Some Challenges” at 9th Annual Banking Summit cum Social Banking Excellence Awards 2013, ASSOCHAM, New Delhi on 16.9.2013.

7th J.G. Kumaramangalam Memorial Lecture on “Indian Economy – The Road to Accelerated Growth” at Coal India Limited, Kolkata on 1.11.2013.

“Contours of Financial Inclusion” at CII Finance and Investment Summit, New Delhi on 13.11.2013.

Foundation Day lecture on “Economic Growth and Social Development – Synergic or Contradictory?” at Centre for Economic and Social Studies, Hyderabad on 21.2.2014.

Convocation Address on “Concerns in Higher Education” at University of Pune, on 3.3.2014.

Inaugural Address on “Role of Budget” at the Interactive Meeting on Analysis of the Union Budget Proposals 2014-15 organised jointed by the Southern Indian Chamber of Commerce and Industry and Madras School of Economics on 14.07.2014

24 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

Publications Journal Articles “Dynamics of Inflation”, The Indian Economic Journal, Vol. 60, No. 1, April-June 2013.

“Relevance of Keynesianism in the Post-Recession Period”, (with Dr. Alok Sheel), Economic and Political Weekly, August 17, 2013.

“Resurgence and limitations of Keynesianism” with Alok Sheel in Raj Kapila and Uma Kapila (ed.) Economic Developments in India , Academic Foundation, Volume 191.

“Convergence – Have the Lower Income States 'Caught Up'?” with Padma Iyer Kaul and E.M. Vibeesh, Money & Finance, ICRA Bulletin, February 2014.

“Developments in the Workforce between 2009-10 and 2011-12”, co-author Seema, Vibeesh EM, Economic and Political Weekly, June 7, 2014. Vol. XLIX No. 23. Chairman/Members of the Prime Minister's Committees Member, Committee on the Trade and Economic Relations. Member, Apex Council for G20 Member, Committee on Climate Change Chairman, Expert Group to Review the Methodology for Measurement of Poverty

Head of the following institutions Chairman, National Institute of Public Finance and Policy, New Delhi.

Chairman, Madras School of Economics, Chennai.

Chairman, C.R. Rao Advanced Institute of Mathematics, Statistics & Computer Science, Hyderabad.

Chairman, Genome Foundation, Hyderabad. President, Indian Statistical Institute, Kolkata.

Awards Awarded Honorary Doctorate (Honoris Causa) by Davangere University on July 27, 2013. Awarded 'GITAM Foundation Annual Award' by GITAM University, Visakhapatnam on August 9, 2014.

MADRAS SCHOOL OF ECONOMICS Chennai 25 Academic Activities 2013-14

K.R. Shanmugam Professor & Director

Teaching

Applied Econometrics (Semester III) M.Sc. Applied Quantitative Finance, M.Sc. Actuarial Economics & M.Sc. Financial Economics

Econometric Methods (3 Modules) M.Sc. General Economics

Supervision and Guidance

M.Sc. Dissertations (5 students)

1. Efficiency of Banking Industry in India: A Panel Data Approach 2. Sources of Output Growth in Manufacturing Industry in India 3. Monetary Transmission Mechanism in India 4. Size, Age and Growth of Firms in Indian IT Industry 5. Impact of VAT and Inflation: An Inter Country Analysis

Ph. D Thesis (3 Candidates)

1. J. Prachitha: “Health Expenditure of State Governments: Determinant, Needs and Outcome Efficiency” (Degree Awarded by University of Madras) 2. R. Rema: Working on Bank Efficiency (Registered with Madras University) 3. P.S. Renjit: Working on Deficit Financing of Centre and State Governments in India (Registered with Central University of Tamil Nadu)

Project Works

“Tamil Nadu Economy: Performance, Challenges and Prospects” funded by Tamil Nadu State Planning Commission (Draft Report submitted in April 2014).

“Finance of Tamil Nadu Government” a consultancy project for MIDS, funded by Fourteenth Finance Commission (Draft report submitted in May 2014)“Environmental Cost Benefit Analysis of Kawas Gas Power Project”, funded by NTPC Limited, with Dr.U Sankar and Dr. Sukanya Das (Draft Report submitted in July 2014).

26 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

“Environmental Cost Benefit Analysis of Thermal Power Plant at Dadri” (working with Dr. Sankar and Dr. Sukanya Das), funded by NTPC Dadri.

“Economic Growth Projection” a consultancy project for Economic Linkage Report on Regional Industrial Clusters in UP by Deloitte India, sponsored by World Bank.

“NBFCs in India: Achievements, Opportunities and Challenges” (working with Dr. R. Kannan and Dr. Saumitra N. Bhaduri), funded by Finance Companies Research and Development Foundation.

Publication Books (Edited)

“Environment and Development” with Dr. K.S. Kavi Kumar (under review by SAGE Publications).

Articles in Edited Volume

“Health Outcome Efficiency of the Indian States” a Chapter in “Environment and Development” (ed.) with J. Prachitha (forthcoming).

MSE Monographs

Fiscal Instruments for Climate Friendly Industrial Development in Tamil Nadu (with D.K.Srivastava, K.S. Kavi Kumar and Madhuri Saripalle), MSE-Monograph No.28, March 2014.

MSE Dissemination Paper

“Value of Statistical Life”, Dissemination Paper No. 27, Centre of Excellence in Environmental Economics, MSE, December 2013.

Presentations at Conference/Seminar/Workshop

Delivered two lectures: ARIMA Modeling and Structural VAR at a 3 days' workshop on Time Series Modeling and Applications organized by MSE, Aug' 19-21, 2013.

A Single Resource Person for Two days Workshop on Time Series Models organized by Kongu Institute of Management at Perundurai. Delivered lectures on Univariate models (ARIMA and ARCH) and Multivariate Time series models (VAR, ECM), Sep 2013.

Delivered the Chief Guest Address at an intra collegiate fest “OIKOS'13” organized by Dept. of Economics, GSS Jain College for Women, Sep' 11, 2013.

Delivered “Panel Data Models with computer Applications” and “Efficiency Models for Panel Data with Computer Applications”, at a three day workshop organized by Management Department, University of Pondicherry, 22nd September 2013.

MADRAS SCHOOL OF ECONOMICS Chennai 27 Academic Activities 2013-14

“Panel Data Analysis” delivered (two sessions with computer applications), at one week Training program on “Econometric Analysis Using Cross Section and Panel Data” for the Senior Officers of the Department of Economics & Statistics, Government of Uttarkhand, organized by ASCI, Hyderabad, Oct 24, 2013.

Delivered a presentation on the methodology of the project “Environmental Cost Benefit Analysis of Kawas Gas Power Project” at , 2013.

Delivered two lectures with computer applications: “Logit, Probit and Tobit Models” and “ARIMA and ARCH Models” at Six Days (Jan 20-25th 2014) National Workshop on Data Analysis and Research Techniques, sponsored by ICSSR, organized by Dept. of Management Studies, MGR University, Chennai, on January 24th 2014.

Delivered a talk on “Central Transfers to Tamil Nadu”, at State Planning Commission for IFS Probationary Officers, Feb 2014.

Presented a Paper titled, “Impact of State VAT on Wholesale and Retails Prices”, at Fourth MSE Seminar Retreat Series, Central University of Tamil Nadu, Tiruvarur, 27th -28th February, 2014.

Delivered two lectures and computer applications: “Dummy Variables” (22nd March 2014) and “Simple VAR and Structural VAR models” (26th March 2014) at Time Series Econometrics and Applications Workshop for Senior IES officers, sponsored by Ministry of Finance through TIES.

A presentation was made on Tamil Nadu Economy: Performance, Challenges and Prospects, at State Planning Commission, Chennai, on 23rd May 2014.

Attended the first and the second meetings of the Scientific and Technical Advisory Group of the CMPA Project on March 2014 and August 1, 2014 respectively in Delhi.

Others

Life Member, Knowledge Forum and Indian Econometric Society. Non Official Member, State Planning Board of the Government of Puducherry. Non Official Member, Central Direct Taxes Advisory Committee, Ministry of Finance, Government of India and Ex-Officio Member of the Regional Direct Taxes Advisory Committee, Chennai for the year 2012-2014. Member, Academic Council, CUTN. Member, Academic Council, Indian Institute of Finance, Delhi Member of the Scientific and Technical Advisory Group of the CMPA Project, Ministry of Environment and Forest and GIZ.

28 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

U. Sankar Honorary Professor Project Works Environmental Social Cost Benefit Analysis of NTPC Kawas Plant (with K.R. Shanmugam and Sukanya Das), Sponsored by NTPC Kawas. Final Report Submitted in July 2014. Insulating Public Utility Pricing from Policy Fluctuations for Sustainable Growth: Power and State Road Transport (with G Vandhana), Sponsored by 14th Finance Commission, Final Report Submitted in June 01, 2014. Sustainable Consumption and Production Pattern, Policy input to MoEF for UN negotiation on SDGs, Sponsored by UNDP, Project is in progress. Publications Journal Articles “Energy, Environment and Sustainable Development” (invited paper), Yojana May 2014. Articles in Edited Volume “Globalization and Indian Economy: Issues and Concerns”, in S.Janakarajan, L.Venkatachalam and Maria Saleth (eds), Indian Economy in Transition : Emerging Issues and Challenges, Sage Publications, forthcoming. Participation in Conference/Seminar “Economics and Access and Benefit Sharing” Keynote Address, UNEP GEF MoEF National Consultation, 9-10, December 2013, National Biodiversity Authority, Chennai Chairman , Valedictory Session, Golden Jubilee Conference , Indian Econometric Society, IGIDR, Mumbai, December 2013.

Others Power Sector Reform in India, K.N. Raj Memorial Lecture, Central University of Kerala, 27 March 2013. Discussant T.N.Srinivasan paper, Risk: Assessment, Evaluation and Regulation Post Fukushima and Kudankulam, IIT Madras Center for Technology and Policy, 25 March 2014. Chairman, Editorial Advisory Committee, Sarvakshana, MoSPI Member Scientific and Technical Advisory Group, GIZ- MoEF TEEB Initiative: Incentives for Sustainable Management of Biodiversity and Ecosystems Member, Expert Group on Low Carbon Inclusive Growth Strategies, Planning Commission, GoI. Member ,Board of Governors, Madras School of Economics Chairman, Malcolm and Elizabeth Adiseshaiah Trust Chairman, Session on Valuation from Academic Domain to Policy Domain, Institute for Coastal Zone Management, Anna University, 29 January 2014.

MADRAS SCHOOL OF ECONOMICS Chennai 29 Academic Activities 2013-14

Paul P.Appasamy Visiting Professor

Teaching

Environmental Policy (Semester III) M.Sc Environmental Economics

Indian Economy (Semester V) Five Year Integrated Program at CUTN

Project Work

Policy Note-Issues Related To Environment, Ecology and Climate Change In The ToR Of Fourteenth Finance Commission sponsored by Ministry of Environment and Forests, Government of India, Proposal submitted

Sectoral Analysis and District Level Analysis for TN Economy (with Dr.Sunil Paul), sponsored by Tamil Nadu State Planning Commission. Draft Report Submitted.

Participation in Conference/Seminar

“Regional Inequality and Economic Growth in Tamil Nadu” with Dr. Sunil Paul. MSE Faculty Seminar, CUTN Feb 28, 2014.

Chaired Panel Discussion, Workshop on Clean Ganga Mission, WWF, New Delhi July 15-16, 2014

Examiner for M.Sc. Environmental Economic Dissertation May 22-23, 2014

Panel Member, Workshop on Environmental Tax Reform, MSE, January 2014

Others

Member, Expert Committee on Access and Benefit Sharing, National Biodiversity Authority, Chennai

Member, Project Advisory Committee, Ashoka Trust for Research in Ecology and the Environment (ATREE), Bangalore

Chairman, Board of Directors, Lady Doak College, Madurai

Member Executive Board, Womens Christian College, Chennai

Member, Association, , Chennai

Member, Doctoral Committee, Dept. of Science and Humanities, IIT, Madras

30 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

N.S. Siddharthan Honorary Professor

Teaching

Industrial Organization and Development (Semester III) M.Sc General Economics

Multinational Enterprises and Policy (Semester IV) M.Sc General Economics

Supervision and Guidance M.Sc. Dissertations (7 students)

1. A Study on the Determinants and Volatility of Migrant Remittances to India 2. Market Segmentation in the Pharmaceutical Industry 3. Determinants of FDI inflow in Developing Countries of Asia 4. Responsiveness of Employment to FDI 5. Interstate R&D Spillovers in India 6. Productivity Spillovers from FDI on Domestic Firms. 7. FDI in Innovation Clusters

Publications Books (Edited) “Human Capital and Development: The Indian Experience”, Springer,2013, i-ix, 1-155, (Ed. N S Siddharthan and K Narayanan)

“Innovation and Development” (2013) Routledge, Special Issue on Innovation and Global Competitiveness: Case of India's Manufacturing Sector, 3(1), October 2013, (Guest Editors, N S Siddharthan and K Narayanan)

Articles in Edited Volume “Human Capital, Labour Productivity and Employment” in N S Siddharthan and K Narayanan and Savita Bhat (Ed.), Human Capital and Development: The Indian Experience, Springer, 2013, Pages 11-22. (Savita Bhat and N S Siddharthan)

Participation in Conference/Seminar Chaired a Session at IGIDR Silver Jubilee Conference on Trade and Industry in India: Patterns, Trends and Policies (October 22-24, 2013), Institute of Development Research, Mumbai.

Chaired a Session at Workshop on India Development Report 2014 (March 7-8, 2014), Indira Gandhi Institute of Development Research, Mumbai.

MADRAS SCHOOL OF ECONOMICS Chennai 31 Academic Activities 2013-14

Presented a Paper International Symposium “Towards A Desirable Future for India In an Increasingly Globalised Society” Organised by: Institute for Human Development (IHD), New Delhi, March 9-11, 2014

Presented a Paper Institute for Studies in Industrial Development 4 Institutional Area Phase –II, Vasant Kunj, New Delhi-70 Workshop on Revisiting Industrial Policy To Rejuvenate India's Manufacturing Sector, on Friday, March 29, 2013.

Others Member, Management Committee and Editorial Board of the journal “The Journal of Industrial Statistics”, January 2013 – Present

Member, Working Group Index of Industrial Production, Ministry of Statistics and Programme Implementation, Government of India, April 2012 – Present

Member, Standing Committee on Industrial Statistics, Central Statistical Organisation, Government of India, April 2012 – Present

Member Scientific Committee, Innovation and Development, Routledge, 2010- Present

Swarna S. Vepa Honorary Visiting Professor

Teaching

Agricultural Economics (Semester VIII) M.Sc Integrated Economics (IIT Madras ) – 15 students

Supervision and Guidance Students M.Sc. Dissertations (No. of Students) 5 1. Impact of Public Distribution System on Calorie Consumption : Panel Data Analysis 2. Impact of Farm Credit and Rainfall on Worker Productivity in Agriculture, 2001-10: GMM Methodology. 3. Impact of Rainfall on Worker Productivity in Agriculture 2005-10: Using GMM Methodology 4. Agricultural Growth and Instability in India 5. Linking Agriculture Nutrition : Analysis of Unit Level Data of Young Lives

Project Work

“Leveraging Agriculture for Nutrition”, Sponsored by DFID to MSSRF, Project is in Progress.

32 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

Publications Articles in Edited Volume Swarna Sadasivam Vepa, Brinda Viswanathan, R.V. Bhavani, Sandipta Dhas, Vinodhini Umashankar, “ Women's Agency and Child underweight rates in India' accepted for Routledge Publication titled “Under nutrition in India and Public policy” by IDS-NCAER

MSE Working Papers (accepted as a Working paper after review process) Swarna Sadasivam Vepa, Vinodhini Umashankar, Rohit Parasar and R.V. Bhavani “Agriculture and child under nutrition: A state level analysis

Participation in Conference/Seminar IDS-NCAER conference: 10th June At New Delhi “ women's agency and child under nutrition in the context of agriculture”.

MSE seminar series, at CUTN Campus, “ Variations in the spread of Micro credit”.

Child Under Nutrition and public provisioning – paper accepted for presentation at ASSA conference January 2015 at Boston organized by American Economic Review.

Participation as a panel Member in Bio Vision Conference at Lyon – France 2013.

Others Talk on Indian Agricultural Scenario to the Students of MCC- Davidson College. Talk on sustainability of Agriculture at School of Social work – Chennai September 2013.

K.S. Kavi Kumar Professor

Teaching

Mathematical Methods (Semester I) M.Sc Applied Quantitative Finance and M.Sc Actuarial Economics

Economics of Global Climate Change and Resource and Environmental Economics (Semesters IV)

M.Sc Environmental Economics

Supervision and Guidance

M.Sc. Dissertations (No. of Students) – 4 students

MADRAS SCHOOL OF ECONOMICS Chennai 33 Academic Activities 2013-14

1. Role of Education in Climate Change Decision Making in India 2. How Does Division of States Effect Economic Growth, Development and Environment? 3. Returns to Higher Education in India 4. Assessing Competitiveness of Sweet Sorghum Cultivation as Feedstock for Bio-fuel: Implications for Land Use and Food Security in India

Ph.D. (1 Student)

Project Work

Integrated sustainability assessment of bio-energy potentials in Asia: An application of a hybrid approach on trade-offs and pathways (PIC-STRAP), Sponsored by Asia Pacific Networks. Project The Project started in June 2013 and will continue till 2015.

Coastal Capital: An Economic Valuation of Coastal and Marine Ecosystem Goods and Services in India, sponsored by NCSCM, Project team – Dr. K.S. Kavikumar, and Dr. Lavanya. Project started in June 2014 and the project duration is 15 months.

Environmental Sustainability Indicators for India: Framework and Estimation, sponsored by MoEF, GoI. Approach paper was submitted to MoEF in December 2013.

Urbanization and Environmental Sustainability in India, sponsored by MoEF under CoE, The Study started in May 2014.

Publications

Journal Articles Kavi Kumar, K.S. and B. Viswanathan (2013), 'Household Level Pollution in India: Patterns and Projections', Climate and Development, 5(4): 288-304.

Kavi Kumar, K.S. and B. Viswanathan (2013), “Influence of Weather on Temporary and Permanent Migration in Rural India”, Climate Change Economics, 4(2).

Books (Edited) Srivastava, D.K. and K.S. Kavi Kumar (ed.) (2014), Environment and Fiscal Reforms in India, Sage Publications (forthcoming).

Articles in Edited Volume and Other Working Papers Viswanathan, B. and K.S. Kavi Kumar (2013), 'Weather Variability, Agriculture and Rural Migration: Evidence from State and District Level Migration in India', Working Paper No. 83-13, The South Asian Network for Development and Environmental Economics, Kathmandu, December.

34 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

MSE Working Papers Pattanayak, A. and K.S. Kavi Kumar (2013), 'Weather Sensitivity of Rice Yield: Evidence from India', MSE Working Paper 81/2013, MSE, Chennai.

MSE Monographs Srivastava, D.K., K.R. Shanmugam, K.S. Kavi Kumar, and Madhuri Saripalle (2014), 'Fiscal Instruments for Climate Friendly Industrial Development in Tamil Nadu', MSE Monograph 28/2014, MSE, Chennai.

Participation in Conference/Seminar Kavi Kumar, K.S. (2013): 'Weather Variability, Agriculture and Migration in India', seminar at the 4th National Research Conference on Climate Change, IIT-Madras, 26-27 October.

Kavi Kumar, K.S. (2013): 'Climate Change and Agriculture: Impacts, Vulnerability and Adaptation', invited talk at ICRISAT, Hyderabad, 8th October. Others Member of the State Environmental Appraisal Committee, Tamil Nadu.

Member of the Expert Committee on Access and Benefit Sharing, National Biodiversity Authority.

Member of the Expert Committee on Climate Change, Ministry of Environment, Forests and Climate Change, GoI.

Member of Expert Committee of National Initiative on Climate Resilient Agriculture, Ministry of Agriculture, GoI.

Saumitra Bhaduri Professor

Teaching

Financial Economics I (Semester II) M.Sc Financial Economics

Financial Economics 2 (Semester III) M.Sc Financial Economics

Supervision and Guidance M.Sc. Dissertations (No. of Students - 4) 1. Transmission of Bubble Across Markets 2. Impact of Capital Structure on Firm Performance 3. Impact of Family Ownership on Capital Structure 4. The Quality Effect of Financial Liberalization

MADRAS SCHOOL OF ECONOMICS Chennai 35 Academic Activities 2013-14

Ph.D. (1 Student)

Project Work

“Convergence of Corporate Governance and Corporate Social Responsibility: Implications for Sustainability in Indian Companies” sponsored by ICSSR. The first year has been completed.

Publications

Journal Articles An alternative test of herding: A Threshold regression approach, Saumitra Bhaduri Advances in Investment Analysis and Portfolio Management Volume 6(2014), pp.265-275.

Applying Approximate Entropy (ApEn) to Speculative Bubble in the Stock Market Saumitra N. Bhaduri, Journal of Emerging Market, April 2014 13: 43-68.

The Empirical Relationship between Dividend & Investment: Evidence from an Emerging Economy, India Saumitra Bhaduri forthcoming in Review of Market Integration.

Allocation of Capital in the Post Liberalized Regime: A Case Study of the Indian Corporate Sector, Saumitra Bhaduri and Amit Kumar, forthcoming in Development Studies Research.

Applying an alternative test of herding behavior: A case study of the Indian stock market Saumitra N. Bhaduri and Siddharth D. Mahapatra , Journal of Asian Economics 25 (2013)43–52.

MSE Working Papers A Note on Excess Money Growth and Inflation Dynamics: Evidence from Threshold Regression Saumitra N Bhaduri and S. Raja Sethu Durai WP 78.

Revisiting the Growth-Inflation Nexus : A Wavelet Analysis Saumitra N Bhaduri WP 77.

Participation in Conference/Seminar Delivered Lecture for Workshop On Financial Modeling & Analytics conducted by IITM. Delivered Lecture for IES officer training program organized by MSE.

Others Hostel Warden Member of Admission Committee Member of Library and Computer Committee Placement Coordinator

36 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

Brijesh C. Purohit Professor

Teaching

M.Sc. General Economics and M.Sc. Actuarial Economics (Semesters II & IV) Public Economics and Health Economics

M.Sc. Financial Economics and M.Sc. Actuarial Economics (SemestersI and IV) Macroeconomics 1 and Economics of Insurance

Supervision and Guidance M.Sc. Dissertations (No. of Students 6) 1. Role of Voluntary Organizations in Health Care Sector: A Case Study for Developing Countries 2. Monetary Transmission Mechanism 3. Manufacturing Sector in India- Past, Present, & Future 4. Currency Crisis 5. ICDS in India : last 37 years 6. Marketing Democracy: Can Countries Market Political Structure to Attract Business.

Publication Journal Articles Brijesh C. Purohit: "Health Care Demand in India" Healthcare in Low-resource Settings 2013;1:e7. PAGEPress, Italy.

"Efficiency of Social Sector Expenditure in India" (paper #1866) in Healthcare in Low-resource Settings was communicated by the editor on November 3, 2013.

Participation in Conference/Seminar “Efficiency of Social sector Expenditure in India” paper presented at National Conference on “Social Sector in India: Issues and Challenges" organized by the Centre of Advanced Study, Utkal University, Bhubaneswar, Odisha during 29-30 March 2013.

“Convergence in Health Sector in India”, Economy of Tomorrow Seminar on Financing Development: State and the Market [28-29 November, 2013] Organized by Institute for Social and Economic Change, Bangalore & Friedrich Ebert Stiftung, New Delhi.

Acted as Panel member in Developing Coordinated Public-Private Partnerships And Systems For Financing Health In Africa, Lilongwe, Malawi, 25-28 March2014.

Others Examination Coordinator for MSE. Admission Committee convener for MSE.

MADRAS SCHOOL OF ECONOMICS Chennai 37 Academic Activities 2013-14

R. Hema Associate Professor

Teaching

M.Sc Financial Economics & M.Sc. Environmental Economics (Semester I) Microeconomics I

M.Sc Financial Economics & M.Sc. Environmental Economics (Semester II) Micro Economics II (2 modules )

M.Sc General Economics (Semester IV) Institutional Economics

Supervision and Guidance (3 students) M.Sc. Dissertations 1. Energy Efficiency in Buildings 2. The Economics of Organic Farming 3. Comparison of Cost and Efficiency of Solar Water Pumps vis-a-vis Conventional Pumps

Project Work “Rural Hybrid Energy Enterprise System”, Sponsored by Department of Science and Technology, India. Duration of the project (August 2013 to August 2016). The Project is in Progress.

“Tamil Energy Governance Initiative”, sponsored by World Resources Institute, USA. The Project is in Progress.

Participation in Conference/Seminar: Participated in the “Seminar on Rationalizing Electricity prices: Improving Access, Cleaning Environment” organized by the Madras Chamber of Commerce and Industry, Nov 8, 2013 and made a presentation on “Towards improved access, cleaner environment and rational pricing - an Institutional way forward."

Participated in a Roundtable meeting on “Renewable Energy in Bhutan: Opportunities and Challenges”, at Thimphu, Bhutan, March 28, 2014 (Made a presentation on India's policies, regulations and institutional aspects in promoting Renewable Energy)

Others Hostel Warden for Women

38 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

Brinda Viswanathan Associate Professor

Teaching

M.Sc General Economics and M.Sc Environmental Economics (Semester III) Applied Econometrics

M.Sc Applied Quantitative Finance (Semester IV) Advances in Panel Data and Time Series

Supervision and Guidance (1 student) M.Sc. Dissertations Development Needs & Government Responsiveness- Assuming the Linkage in Indian States.

Ph.D. (2 Students) Project Work “Leveraging Agriculture for Nutrition in South Asia” sponsored by DFID via MSSRF. The Project was completed.

Publication Journal Articles

Viswanathan, B. (2013) 'Variations in Women's Heights across Social and Religious Groups among Indian States', Social Indicators Research, DOI 10.1007/s11205-013-0531-4, Online First Publication.

J. V. Meenakshi and B. Viswanathan (2013) 'Estimation of Calorie Norms and Measurement of Food Intakes: Some Implications for the Magnitudes of the Prevalence of Under nutrition in India', Indian Economic Review, Vol. 48 (1), 167-188, [Special Issue on “Perspectives on Economic Development and Policy”].

Kavi Kumar, K.S. and B. Viswanathan (2013), 'Influence of Weather on Temporary and Permanent Migration in Rural India', Climate Change Economics, 4(2).

Kavi Kumar, K.S. and B. Viswanathan (2013), 'Household Level Pollution in India: Patterns and Projections', Climate and Development, 5(4): 288-304.

Articles in Edited Volume

Viswanathan, B. (2014), 'Trend and Pattern of Employment in Tamil Nadu: Some Recent Trends, 1980s versus 1990s', book chapter in V. K. Natraj and A. Vaidyanathan (eds.), Development Narratives: The Political Economy of Tamil Nadu, Academic Foundation.

MADRAS SCHOOL OF ECONOMICS Chennai 39 Academic Activities 2013-14

Viswanathan, B. (2014), 'Under Nutrition in India: Evidence and Intervention', Background Paper for R. Malhotra, India Public Policy Report 2014: Poverty, Hunger and Malnutrtion, Oxford University Press (New Delhi) and Jindal School of Government and Public Policy (Sonipat, Haryana).

Other Working Papers Viswanathan, B. and K.S. Kavi Kumar (2013), 'Weather Variability, Agriculture and Rural Migration: Evidence from State and District Level Migration in India', Working Paper No. 83-13, The South Asian Network for Development and Environmental Economics, Kathmandu, December.

Participation in Conference/Seminar 'Introduction to Regression Methods' (two sessions on 20-3-2014) in “Time Series Econometrics and Applications” for the Senior Level Officers of Indian Economic Service, Government of India sponsored by the Ministry of Finance through the Indian Econometric Society (TIES), March 19 - 28, 2014, MSE (Chennai).

'Farm Production Diversity, Consumption Diversity and Women's BMI: A Study across Rural Indian Farm Households', at The Fourth MSE Faculty Seminar Series, 27th-28th February, 2014, Central University of Tamil Nadu, Thiruvarur.

Others Member of the Steering Committee on Economic Policy Research for Reserve Bank of India.

Member of Board of Studies, Stella Maris College, Chennai.

Member of Programme Advisory Committee of the Malcolm and Elizabeth Adiseshiah Trust, Chennai.

Serve as member of doctoral committee for students at IFMR, MIDS and Stella Maris College. Faculty in-charge of Seminars at MSE.

Articles refereed as peer reviewer for Journal of Quantitative Economics, Sarvekshana, Social Indicators Research, Indian Economic Review, ISEC reports and working papers, MSE working paper and PLOS ONE.

40 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

Sreejata Banerjee Visiting Faculty

Teaching

M.Sc Financial Economics (Semester III) Fixed Income Securities

M.Sc Financial Economics (Semester IV) International Finance

Supervision and Guidance M.Sc. Dissertations (No. of Students – 1) Computation of State-Wise Financial Inclusion Index And The Impact of Financial Inclusion on Poverty Level

Project Work Stress Test of Banks operating in India: VAR Approach”, Sponsored by Union Bank Chair. Completed paper presented at the World Finance Conference Venice Italy 2ndJuly 2014.

Participation in Conference/Seminar Presented paper “Stress Test of Banks Operating in India across Different Ownership: A VAR Approach” at the 4th Seminar Series of Madras School of Economics in Tiruvarur Central University of Tamil Nadu (version 1) on 27th Feb2014.

Presented paper titled Stress Test of Banks Operating in India across Different Ownership: A VAR Approach (version 2) at Economics Department, Centre for Advanced Studies, Kolkata on 25th April 2014.

Presented Paper titled “Stress Test of Banks Operating in India across Different Ownership: A VAR Approach” (version 3) at World Finance Conference Venice 2nd July 2014 paper well received by Discussant and participants.

Discussant of paper titled “Convenience Yields in Electricity Prices Evidence from Natural Gas and Coal Markets” authored by Nikolaos Paratsiokas and Nikolaos Milonas of National and Kapodistrian University of Athens Greece at the World Finance Conference Venice 2nd July 2014.

Presented Paper titled “Operational Efficiency of Banks in India: The Profitability and Soundness Conundrum” under Union Bank Chair on 7th May 2014 at the Madras School of Economics.

MADRAS SCHOOL OF ECONOMICS Chennai 41 Academic Activities 2013-14

Others

Invited as a Resource Person by Department of Humanities from Coimbatore Institute of Technology who organised Two days workshop on "Globalisation Vs International Financial Structure - an Overview", on 23rd and 24th September,2013.

Invited as Guest of Honour and Judge for Technical Session at the National Conference “Indian Currency Crisis: Causes Consequences and Curatives “ at the Guru Sree Shantivijai Jain College for Women 3rd February 2014

Reviewed paper for Applied Economics Journal Taylor and Francis Routledge for paper Titled “Interaction Between Stock Prices And Exchange Rate In Emerging Market “Economies 14th January 2014

Reviewed paper for Applied Economics Journal Taylor and Francis Routledge for paper titled “Contagion Between European and US Banks: Evidence from Equity Prices “29th May 2012.

Applied Financial Economics Journal Taylor and Francis Routledge approached for review of the following research articles. Title: "Financial Reform and Bank Efficiency: A Multi-country Analysis" 30th Sept 2013 Title: “Pawn Broking in China: Why is it a Viable Credit Market for SMEs.” Title: "Firm credit risk in normal times and during the crisis: are banks less risky?" 23rd /May 2014 Title: "Financial Reform and Bank Efficiency: A Multi-country Analysis" 10th Sept 2013

Dr. Zareena Begum I Associate Professor

Teaching

M.Sc Financial Economics and M.Sc Environmental Economics (Semester I) Mathematical Methods

M.Sc Environmental Economics and M.Sc Actuarial Economics (Semester II & IV) Introduction to Environmental Systems and Environment and Health

Supervision and Guidance M.Sc. Dissertations (No. of Students 4)

42 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

1. Techno - Economic Assessment of Electronic Waste: Material Flow Analysis and Management Scenario 2. Circulation Economics: Dynamic Material Flow Analysis of Metal Trade in India. 3. Poverty, Nutrition and Environment Nexus: Assessment of Madhya Pradesh and Gujarat 4. International Trade and Environmental Linkage between India and ASEAN countries

Project Work Economy – Wide Impacts of Pollution in India – Meta Analysis, Sponsored by Ministry of Environment and Forest, Government of India. The final report has been submitted.

Economic Valuation of Ecosystem Services: A Case Study of Ousteri Wetland, Puducherry, sponsored by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Indo- German Biodiversity Programme Office. First installment is to be released by the end of July 2014.

Publication Journal Articles Zareena Begum Irfan, Jeeva Mary Jacob and Karthick Radhakrishnan (2014): 'Indian Delta's Anguish: A Game theoretical approach to the Conflict across Kaveri River Water Sharing', International Journal of Environmental Policy and Decision Making (Forthcoming)

Zareena Begum, I. (2014): 'An Integrated Assessment of Ecosystem Modification and Human Wellbeing in the Karukachal region of Kerala, India', Journal of Environmental Systems Research (Accepted)

Bina Gupta and Zareena Begum Irfan, (2014): 'Decontamination of As(III) from Water Resource using Flat-Sheet Supported Liquid Membrane containing Cyanex 301 as Carrier', Environmental Management (Accepted)

Bina Gupta, Poonma Malik and Zareena Begum Irfan, (2013): 'Recovery of Uranium, Thorium and Zirconium from Allanite by Extraction Chromatography using Impregnated Chromos orb; Water Resources and Industry, 4, 21-31.

Books (Edited) Zareena Begum Irfan, (2014): Chapter: 'Urban Water Reuse Policy', in the book titled: Urban Water Reuse Handbook (UWRH) edited by Eslamian, S, Francis and Taylor, CRC Group (Forthcoming).

Zareena Begum Irfan, (2014): Chapter: 'Urban Water Reuse Risk', in the book titled: Urban Water Reuse Handbook (UWRH) edited by Eslamian, S, Francis and Taylor, CRC Group (Forthcoming).

MADRAS SCHOOL OF ECONOMICS Chennai 43 Academic Activities 2013-14

Participation in Conference/Seminar Paper titled “Indian Delta's Anguish: Game theoretical approach to the Conflict across Kaveri River Water Sharing” was presented at the International Conference on Water, Climate and Renewable Energy (ICWCRE'14) on May 29, 2014 at Eastland Hotel, London (with Jeeva Mary Jacob and Karthick Radhakrishnan).

Paper titled “Financial Development and CO2 Emissions in India: A Time Series Analysis” was presented at the International Conference on Water, Climate and Renewable Energy (ICWCRE'14) on May 29, 2014 at Eastland Hotel, London (with Sneha Mishra and Karthick Radhakrishnan).

Paper titled 'Green Accounting of the Indian Metal Mining Sector' was presented at the Fourth MSE Faculty Seminar Series held at Central University of Tamil Nadu, Thiruvarur, February 2014.

Paper titled 'Health Impacts of Air and Water Pollution in India: A Systematic Review”, was presented at the Fourth MSE Faculty Seminar Series held at Central University of Tamil Nadu, Thiruvarur, February 2014 (with Dr. Sukanya Das)

A lecture on “On the sustainability of global development” was delivered at the UGC Refresher Course “Economics Batch – XI V: Global Economic Scenario and the Indian Economy” organized in the Department of Economics, University of Madras, Chennai, September 21, 2013.

A lecture on “Economic Valuation of Ecosystem Services and Biodiversity Conservation: A multidisciplinary approach” was delivered at the UGC Refresher Course “Economics Batch – XI V: Global Economic Scenario and the Indian Economy” organized in the Department of Economics, University of Madras, Chennai, September 21, 2013.

Others Faculty Coordinator M.Sc General Economics (2013-15 batch) Associated in coordinating the activities of CoE at MSE.

Sukanya Das Assistant Professor

Teaching M.Sc Environmental Economics (Semester III) Environmental Valuation M.Sc Environmental Economics (Semester II & IV) Resource and Environmental Economics, Sustainable Development

[ Supervision and Guidance M.Sc. Dissertations (No. of Students 11)

44 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

1. Contingent Valuation in Pallinkaranai 2. Revenue-Expenditure Nexus for Northern States in India: An Econometric study with Policy Insights 3. JNNURAM and its Effect on the Development of Indian Cities 4. Public Distribution System in India 5. Formal Vs Informal Sources of Credit in Indian Agriculture 6. Integrated Solid Waste Management Under PPP Framework in Guwahati 7. Economic Valuation of Pichavaram Mangroves 8. A Study of Corruption in India Surrounding the Idea of Legalising Corruption 9. Impact of BT Cotton on the Yields of Cotton 10. Econometric Analysis of Public Health Expenditure of BRICS Countries 11. Asset Pricing Through Time-Series Model

Project Work

Policy Determinants of Household Economic Development (PDHED), sponsored by IDRC. The project is in progress.

Carrying out Environment Cost-Benefit study at NTPC Kawas, sponsored by NTPC, Kawas. The final report has been submitted.

Carrying out Environment Cost-Benefit study at NTPC Dadri, sponsored by NTPC Dadri, The project has been initiated from July 2014.

Supporting Consolidation, Replication and Up-scaling of Sustainable Wastewater Treatment and Reuse Technologies for India, sponsored by DST, The project is in progress.

Publications: Journal Articles Rahut D.B., Das S ., De Groote H., Behara B(2014): Determinants of Household Energy use in Bhutan, Energy, Volume 69(1)., pp 661-672 .

Books (Edited) Das S and Prasad N(2014) :An initiative towards curbing the usage of plastic bags in supermarkets: a case study in Chennai , in Handbook of Waste Management edited by Kinnamann T and K Takeuchi, Edward Elgar Publishing Ltd. http://www.e-elgar.co.uk/bookentry_main.lasso?currency=US&id=14571.

MADRAS SCHOOL OF ECONOMICS Chennai 45 Academic Activities 2013-14

MSE Dissemination Papers Das S (2013): Travel Cost Method for environmental valuation, Centre for Excellence in Environmental Economics, Madras School of Economics

Bibliographic note

Bibliographic note on 'Air Pollution Impacts' (2013) COE, Madras School of Economics

Participation in Conference/Seminar : Das S ., Vadivelu A (2014): Options for Groundwater management in Tamil Nadu: A review of the existing system and way forward, accepted for IAAE Inter-Conference Symposium scheduled to be held at Hyderabad from October 12-13, 2014.

Das S(2013): Status of Environmental Degradation in India, Training Program on Environmental Fiscal Reforms: International Experience and Relevance for India, Department of Commerce, Tripura University, Agartala, 6, 7 and 8th November 2013.

Starkl M., Brunner N , Das S(2013): A model for matching beneficiaries and financiers: the case of cooperation for wastewater infrastructure provision in India, accepted for Stockholm World Water Week , September, 2013.

Das S (2013):Methodology adopted and results for air pollution in regard to the study - Economy- wide Impacts of Pollution in India: Meta Analysis, Review Workshop, Madras School of Economics, Chennai 2nd March 2013.

Das S., Rahut D.B and Behera B(2013): Determinants of Household Energy Use in Bhutan , MSE seminar series, 23rd-24th January 2013.

Others Resource person for the project entitled, “Willingness to pay for rural health insurance and exploratory study in Cuddalore District.” by Dr. K Ramu, Assistant Professor, Dept of Economics, Annamalai University. Funding agency Malcolm & Elizabeth Adiseshiah trust (meat),Chennai.

Book Review of the 3rd edition Introduction to Econometrics, by Stock .J.H and Watson M.W, Pearson ,USA(June,2014)

Received invitation to attend Scoping Consultation workshop on “Delineation of Coastal Ecological sensitive areas (ESA) and Critically Vulnerable coastal areas (CVCAs) in India” by NCSCM, 28th June 2014

Received invitation to attend the two days National Consultation Meeting on “Economic Valuation of Bio-resources for Access and Benefit Sharing (ABS)” organized by NBA(National Biodiversity Authority) from 9th – 10th December, 2013 at Chennai, Tamil Nadu

46 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

Received invitation to deliver three lectures in Valuing environment to the under-graduate students in Department of Civil Engineering, IIT Madras, Oct 2013

Received invitation to deliver two lectures in Applied Econometrics to the post graduate students of M.Sc in Economics in Department of Humanities and Social Sciences, IIT Madras, Sep 2013

Attended Training Program on Environmental Fiscal Reforms: International Experience and Relevance for India, Madras School of Economics, Chennai, 7-9th March 2013

Attended Training Program on Environmental Fiscal Reforms: International Experience and Relevance for India, hosted by Madras School of Economics at Tripura University , 6-8th November 2013

Madhuri Malhotra Assistant Professor

Teaching

M.Sc Applied Quantitative Finance and M.Sc Financial Economics (Semester IV) Financial Instruments and Markets and Financial Regulation and Banking Supervision

M.Sc Financial Economics (Semester III) Investment Banking

Supervision and Guidance M.Sc. Dissertations (No. of Students - 6) 1. Merger Wave in India 2. Commonality in Liquidity 3. The Relationship Between Stock Market and Oil Prices: Indian Evidence 4. The Effect of Credit Risk Management on Profitability: Evidence from Indian Banks 5. Impact of Reforms on the Asset Quality of Indian Banks 6. Indian Banking Sector: Do we need Large Banks or Large number of Banks

Projects Research in progress on the topic “Bank Credit: Allocation and efficiency; with respect to Priority and non priority sector lending by Indian Banks” under Union Bank Chair at Madras School of Economics.

Research in Progress on the topic “Financial Inclusion” with Mr. Manas, S. Das. Union Bank Chair Professor at Madras School of Economics.

MADRAS SCHOOL OF ECONOMICS Chennai 47 Academic Activities 2013-14

Publication

Journal Articles

Madhuri Malhotra (2013) "Evidence on changes in time varying volatility around bonus and rights issue announcements" (with Dr. Thenmozhi, M. and Dr. Arun Kumar Gopalaswamy) International Journal of Emerging Markets, Vol. 8:2, pp.129 - 143

Madhuri Malhotra (2013) “Factors influencing stock returns around bonus and rights issue announcements”, (with Dr. Thenmozhi, M. and Dr. Arun Kumar Gopalaswamy) IUP Journal of Applied Finance. October 2013.

Madhuri Malhotra (2014) “Rationale for Consciousness in Business Organizations, International Journal of Dharma Studies, (paper under review)

Working papers Madhuri Malhotra (2014) Operating Performance of Banks after Acquisitions: Evidence from India (with Anand Bhartiya) MPRA link http://mpra.ub.uni-muenchen.de/id/eprint/57460

Madhuri Malhotra (2012-13) “Liquidity Changes Around Bonus and Rights Issue Announcement: Evidence from Manufacturing and Services Sectors in India.(with Dr. M. Thenmozhi, and Arun Kumar Gopalaswamy) MPRA link http://mpra.ub.uni-muenchen.de/id/eprint/41216

Articles in Edited Volume Malhotra, M. and D. P. Satsangi (2014) “Creative Actions lead to cosmic Consciousness” Published in Edited volume “Towards a Science of Consciousness, 20th Anniversary, Center for Consciousness studies, April 21-26, 2014, Page No 218.

Malhotra. M. and S. Malhotra (2013) “Rationale for Consciousness in Business Organizations” Edited Volume Towards a Science of Consciousness March 3-9, 2013, Dayalbagh Agra, India.

Participation in Conference/Seminar Malhotra, M. and M. Nair (2014) “Initial Public Offerings' under pricing: A study of the Short Run Price Performance of Book Built IPOs in India”. Paper accepted for presentation in the Society of Interdisciplinary Business Research 2014 Hong Kong Conference on Interdisciplinary Business & Economics Research to be held in Hong Kong on September 27-28, 2014. (Paper accepted for presentation).

Malhotra, M and Puja, S. (2014) Foreign Institutional Investors: Trading Behavior and Factors influencing FIIs in Indian Equity Market; UGC National Seminar on Foreign Direct Investment and Retail Trade in India, organized by PG Dept of Economics D. B, Jain College & All India Manufacturers' organization, held in Dhanraj Baid Jain College, Chennai on 24 May 2014. Paper accepted for Presentation.

48 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

Malhotra, M. and D. P. Satsangi (2014) “Creative Action leads to Cosmic Consciousness”. Towards a science of consciousness 20th Anniversary, April 21-26, 2014 - Tucson, Arizona - University Marriott Park. Paper accepted for Presentation.

Malhotra, M. and B. Sah (2013) “Stock Price Reaction to the Private Placements announcements in India, MSE Seminar Series January 22-23, 2013. Held at Madras School of Economics.

Malhotra, M. and S. Malhotra (2013) “Rationale for consciousness in Business Organisations”. Towards a science of Consciousness, March 3-March 9, 2013. Dayalbagh Educational Institute (Deemed University), Dayalbagh Agra. Paper accepted but not presented.

Others Faculty Advisor for the M.Sc Financial Economics Batch 2011-2013.

Coordinator for CUTN Examination related activities which included planning and setting up of CUTN examination department at MSE

Organized a Workshop on Time Series and Panel Data Modelling and during August 2013, at Madras School of Economics. Coordinated participation from all over India.

Prepared Final Grade Sheet for M.Sc Financial Economics Batch 2013.

Ekta Selarka Assistant Professor

Teaching

M.Sc Applied Quantitative Finance (Semester III) Computational and Programming Languages

M.Sc Applied Quantitative Finance and M.Sc. Actuarial Economics (Semester II) Financial Economics I

Supervision and Guidance M.Sc. Dissertations (No. of Students 4)

1. Determinants of Foreign Currency Borrowings – Firm Level Evidence from Indian Manufacturing Sector 2. R&D Expenditure and Firm Performance 3. Herding of BSE500 Stocks 4. Corporate Governance, Stock Liquidity and Firm Performance

MADRAS SCHOOL OF ECONOMICS Chennai 49 Academic Activities 2013-14

Project Work “Convergence of Corporate Governance and Corporate Social Responsibility”, sponsored by ICSSR. First year has completed and 2nd year is in progress.

Articles in Edited Volume Corporate Governance, Product Market Competition and Firm Performance (2014). Boubaker and Nguyen edited “Corporate Governance in Emerging Markets – Cases, Theories and Practices”, Springer Verlag

Status note on Gender diversity in Indian Boards (with Prof. Jayati Sarkar, IGIDR) (2014), ISB INSIGHT.

Participation in Conference/Seminar Presented a paper on “Identification issues in corporate governance of Indian firms” at the Workshop on Financial Sector Reforms, Indian Institute of Management, Calcutta, November 2013.

Discussant at International Conference on Corporate Governance in Emerging Markets, Indian School of Business, Hyderabad, August 2013.

Discussant at International Conference on Money and Finance, IGIDR, Mumbai, December 2013

Others Faculty Advisor for Financial Economics and Environmental Economics (31+14 students) August 2013 – May 2014

Faculty Advisor for General Economics (38 students) Jan – May 2013.

Examination committee member since Jan 2013.

External examiner for European Masters in Law and Economics, University of Hamburg, Germany.

Madhuri Saripalle Assistant Professor Teaching

M.Sc. General Economics (Semester I) Micro Economics I

M.Sc. General Economics (Semester II) Micro Economics II

Supervision and Guidance Supervisor M.Sc. Dissertations (No. of Students 7)

50 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

1. Effects of trade liberalization and R&D on labor productivity: case study of electronics industry in Indi 2. Linkages Between Education and Economic Growth: Indian Scenario 3. Long Term Impact of Political Ideologies on Development: A Study of Indian States 4. Review of Performance of organized and unorganized retail in India 5. Engine of Growth: Manufacturing or Services 6. Factors Affecting per Capital Vehicle Sales (An Inter State Comparison) 7. The Impact of Political Instability On the Growth of Indian States

Project Work “Promoting Employment and skill Development in the Manufacturing Sector in India: Study of Electronics and Automobile Industry” sponsored by International Labor Organization (ILO) and conducted by Institute for Human Development, New Delhi. The Final report was submitted.

“Determinants of Non-Traditional Agricultural Exports: Study of Horticulture in India” sponsored by South Asia Network of Economic Research Institutes (SANEI). Field survey has been completed and the first report due on August 2014.

Publication Books (Edited) ”Supplier Relations in the Indian Automotive Industry”, forthcoming in an edited book on Trade and Industry, Orient Blackswan, as part of IGIDR silver jubilee conference proceedings.

Automobile Industry-a Case Study in “International Trade and Industrial Development in India: Emerging Trends, Patterns and Issues", Orient Blackswan, edited by C. Veeramani and R. Nagaraj

MSE Working Papers “R and D Spillovers Across the Supply Chain: Evidence from the Indian Automobile Industry”, working paper 83/2013, November 2013, Madras School of Economics, Chennai, India.

MSE Monographs D.K.Srivastava, K.R.Shanmugam, K.S.Kavikumar & Madhuri Saripalle (2014), “Fiscal instruments for climate friendly industrial development”, Monograph 28/2014, Madras School of Economics, March 2014.

Participation in Conference/Seminar “R&D spillovers across the supply chain”, working paper presented at a conference on “Trade and Industry in India” as part of Silver Jubilee celebrations of Indira Gandhi Institute for Development Research (IGIDR), October 22-24 2013, Mumbai, India.

“R&D spillovers across the supply chain”, working paper presented at VIII annual international conference on “Emerging technologies and Development” hosted by department of humanities, IIT Bombay, October 25-27 2013, Mumbai, India

MADRAS SCHOOL OF ECONOMICS Chennai 51 Academic Activities 2013-14

Others “R&D spillovers across the supply chain”, working paper presented at MSE Annual Seminar Retreat at Central University of Tamil Nadu, Tiruvarur, March 2014.

Presentation on “Sampling methodology” at a 10 day workshop on research methodology organized by P.G & Research Department of Economics ,Sacred Hearts college, Thirupattur, Tamil Nadu, July 29th 2013.

Santosh Kumar Sahu Assistant Professor

Teaching

M.Sc. General Economics (Semester IV) Multinational Enterprises and Industrial Policy & Energy Economics and Environment

M.Sc. Environmental Economics (Semester III) Energy Economics and Environment

M.Sc. General Economics (Semester III) Industrial Development and

M.Sc. Financial Economics & M.Sc. Environmental Economics (Semester II) Econometrics Methods

Supervision and Guidance M.Sc. Dissertations (No. of Student 8)

1. Advertisement and Competition 2. Economic Effects of Advertisement: A Study of FMCG Firms in India 3. The Determinants of Investor Valuation of R&D Expenditure: A Study of IT Industries in India 4. Outsourcing, Market Structure and Production Technology 5. Technology Portfolio and Market Value: A Study of Indian Pharmaceutical Sector 6. Co integration of Firm Strategies: A Long Run Analysis of the Indian Steel Industry 7. Are Diversified Firms Better Performers? An Empirical Investigation of Indian Manufacturing Firms 8. Innovation, R&D Efficiency and Impact of Regulations: Study of Indian Manufacturing Firms

52 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

Project Work

“Policy Determinants of Household Economic Development (PDHED)”, sponsored by MSSRF and University of Alberta, Canada. The project is in progress.

Publication Journal Articles Sahu, S. K. and K. Narayanan, (2014), “Carbon Dioxide Emissions from Indian Manufacturing Industries: Role of Energy and Technology Intensity”, Review of Business and Economics Studies, Vol, 1, No. 2, pp. 60-73.

Sahu, S. K. and K. Narayanan, (2013), “CO2 Emission and Firm Heterogeneity: A Study of Metal and Metal Based Industries in India”, International Journal of Energy Technology and Policy, Vol. 9, No. 2, pp. 110-127

Articles in Edited Volume Sahu, S. K. and K. Narayanan, (2013), “Labour and Energy Intensity: A Study of Pulp & Paper Industries in India”, in Human Capital and Development, N. S. Siddharthan and K. Narayanan (eds.), Chapter 5, pp. 55-76, Springer, ISBN: 978-81-322-0856-3.

MSE Working Papers

Sahu, S. K. and K. Narayanan, (2013), CO2 Emission and Technology Sourcing: A Study of Indian Manufacturing Industries, MSE Working Paper No. 82/2013.

Participation in Conference/Seminar Sahu, S. K., (2014), “Determinants of Energy Intensity of Indian Manufacturing Firms: A Dynamic Panel Data Analysis” MSE Faculty Seminar, Madras School of Economics, Chennai.

Sahu, S. K. and K. Narayanan, (2013), “Exports and Participation in Clean Development Mechanism [CDM] in Technology Intensive Industries in India”, in the VIIIth Annual International Conference of Knowledge Forum at IIT Bombay India.

Sahu, S. K. and K. Narayanan, (2013), “CO2 Emission from Fossil Fuel Consumption and Technology Intensity: A Study of Indian Manufacturing Industries” in the Third Annual Faculty Seminar, Madras School of Economics; the earlier version of this paper was presented in the VIIth Annual International Conference of Knowledge Forum during 31st November to 2nd December, at Symbiosis International University, Pune, India.

Sahu, S. K., (2013), “Determinants of Energy Intensity in Indian Manufacturing Industries: A Dynamic Panel Data Analysis” in the 49th Annual Conference of The Indian Econometrics Society, during 9th to 11th January, at the Department of Statistics, Patna University, Patna, Bihar, India.

MADRAS SCHOOL OF ECONOMICS Chennai 53 Academic Activities 2013-14

Others Received “Excellence in Ph.D. Research Awards 2012-2013” from IIT Bombay during the 51st Convocation of the institute in 2013.

Coordinator for the training programme on “Applied Econometrics Time Series Modeling” for the senior level IES officer of Government of India.

Faculty Advisor, Applied Quantitative Finance and Actuarial Economics MSc. programme for the batch 2013-15, MSE Chennai.

Life member, Forum for Global Knowledge Sharing.

International Reviewer for Academic of International Business (AIB) for the annual conference on “Bridging the Divide: Linking IB to Complementary Disciplines and Practice” during July 3–6, 2013 at Istanbul, Turkey.

Member of International Editorial Committee in “Workshop on Healthcare and Nursing”, December 11-13, 2013, Jeju National University International Center, Jeju Island, Korea.

Member of Scientific Committee for the Cappadocia Series: International Energy Economics and Policy conference, Cappadocia, Nevsehir, Turkey.

Sunil Paul Assistant Professor Teaching

M.Sc. General Economics, M.Sc Actuarial Economics and M.Sc Applied Quantitative Finance (Semester I) Macroeconomics – 1 and Statistical Methods

M.Sc Actuarial Economics and M.Sc Applied Quantitative Finance (Semester II) Econometric Methods

Supervision and Guidance M.Sc. Dissertations (No. of Students 5)

1. The Structure of Linkages and Causal Relationships Between BRIC and Developed Equity Markets

54 MADRAS SCHOOL OF ECONOMICS Chennai Academic Activities 2013-14

2. Price Transmission in Onion Market for India 3. Stock Price Volatility and Dividend Policy in the Indian Context 4. Herd Behavior in Financial Markets: An Experiment with Financial Market Professionals 5. Predicting Financial Crisis using Early Warning System

Project Work

“Regional Inequality and Economic Growth: the Case of Tamil Nadu”, sponsored by ICSSR. Project proposal has submitted.

Publications Journal Articles Lagesh, M. A., Mohammed Kasim M. and Sunil Paul (forthcoming) “Commodity futures indices and traditional asset markets in India: DCC evidence for portfolio diversification benefits” Global Business Review (Dec 2014 issue)

Sunil Paul and M. Ramachandran (2013) “Do currency equivalent monetary aggregates have an edge over their simple sum counterparts?” South Asian Journal of Macroeconomics and Public Finance, 2, 107-143.

Participation in Conference/Seminar “Commodity Futures Indices and Traditional Asset Markets In India: DCC Evidence For Portfolio Diversification Benefits, Fourth MSE Faculty Seminar Series, 7 March, 2014 (With Lagesh M.A and Muhammed Kasim) “Has Economic Growth Worsened Inter-District Inequality in Tamil Nadu?” Fourth MSE Faculty Seminar Series, 28 Feb, 2014 ( with Dr. Paul P. Appasamy) “Software Introduction: Eviews” a lecture delivered at Training Programme on “Time Series Econometrics and Applications” for the Senior Level IES Officers, Government of India at Madras School of Economics, Chennai, 19th March 2014. “Econometric Analysis using Eviews: An Introduction” a lecture delivered at three Day National Workshop on “Statistical Softwares in Economics Research” held at the P.G Department of Economics, E.K.N.M Govt. College, Elerithattu, Kerala during 9-11 October 2013.

Others

Member, MSE Purchase Committee

MADRAS SCHOOL OF ECONOMICS Chennai 55 Annexure

Abstract of Research Projects

The abstract of ongoing and recently completed research projects are:

Tamil Nadu's Economy: Progress, Challenges and Opportunities Coordinator: Dr. K.R. Shanmugam Funded by: State Planning Commission

This study aims to analyze the Tamil Nadu's growth experience in terms of sectoral growth, spatial growth, relative contributions of sectoral growth and spatial growth to overall growth, changes in sectoral composition of GSDP and identify the major sectors/regions contributing to overall economic growth of the state. Further, it attempts to identify factors determining per capita income growth at district level and test the convergence hypothesis. Finally it discusses the challenges facing Tamil Nadu economy and possible remedies for achieving higher growth.

Memorandum to the Fourteenth Finance Commission by Government of Tamil Nadu Consultant: Dr. K.R. Shanmugam Funded by: Department of Finance, Government of Tamil Nadu

Government of Tamil Nadu asked MSE's support in preparing the Memorandum to be submitted to Fourteenth Finance Commission. Draft versions of the following chapters were prepared: Introduction Chapter to review the overall macroeconomic environment and its possible consequences on central tax buoyancy; Overview Chapters on Tamil Nadu Economy and Government Finances; Chapters on Vertical and Horizontal sharing since the ; a chapter on implications of proposed GST on government finances; a chapter on local body finances in Tamil Nadu and a chapter on ecology, environment and climate change.

Environment Cost Benefit Study of Kawas Gas Power Project Coordinators: Dr. K.R. Shanmugam and Dr. Sukanya Das (Dr. U. Sankar – Consultant) Funded by: National Thermal Power Corporation

This study aims at providing a comprehensive analysis of power generation at NTPC Kawas, considering all economic, environmental and social costs and benefits. Our Environmental Cost Benefit Analyses indicate that the overall finance performance of the plant has been good in the first 20 years of commercial production of electricity. During 2013-14 to 2022-23, the financial viability of project is sound. The economic efficiency of the project is also good as seen from its capital output ratio (of 2.98). From the primary survey of households and workers, the average WTP of the respondents for improvement of infrastructural facilities and better environmental quality is Rs 19 and this leads to the total WTP amount of Rs. 9.481 crore per annum. Results of workers survey indicate that workers of NTPC are satisfied with safety provisions at the workplace.

Environment Cost benefit analysis of NTPC Dadri Coordinators: Dr K.R Shanmugam and Dr Sukanya Das (Dr. U Sankar- Consultant) Funded by: National Thermal Power Corporation

56 MADRAS SCHOOL OF ECONOMICS Chennai Annexure

Following the line with the study completed for environmental cost-benefit analysis of NTPC Kawas, this study aims at providing a comprehensive analysis of power generation at NTPC Dadri, considering all economic, environmental and social costs and benefits including tangible and intangible costs and benefits (accruing to the national/ regional/ local economy, environment and society) of power generation. The environmental and social impact covers the domain of -Air/Water/ Noise pollution, Land degradation, Health impacts, Loss/reduction in agricultural productivity, Land use pattern change, Improved access to health services, Improved access to education and training, Employment generation, Improved Road and Drinking water facilities, Recreation facilities etc.

Social Cost Benefit Analysis of Bithnok Lignite Mine Project Coordinators: Dr. U. Sankar, Dr. K.R. Shanmugam & Dr. Zareena Begum Funded by: Neyveli Lignite Corporation Limited The objective of this project was to apply the social cost benefit methodology using UNIDO and Little and Mirrlees (1968) Analysis Technique to assess the impact of the proposed Lignite Mine project at Bithonok, Rajasthan. This is an ex-ante analysis. The finance viability of the projects as indicated by NPV and IRR is sound. Social profitability of the project after adjusting for increased wages of mine employees, increased profits of mine suppliers, economic cost of land etc is also sound. While there could be some social costs, anticipated social benefits would need it.

Economic Linkage Report: A Detailed Regional Economic Analysis of Three Sub-Regional Growth Centres in Uttar Pradesh Consultant: Dr. K.R. Shanmugam

Deloitte in its previous study identified 11 industrial clusters in UP and 8 impediments for cluster growth. The objective of our report is to develop the economic growth model using impediments as the major determinants and use the model to project future economic growth of cluster districts by removing the impediments in phased manner.

NBFCs in India – Achievements, Opportunities and Challenges Coordinators: Dr. K.R. Shanmugam, Dr. Kannan and Dr. Saumitra Bhaduri Funded by: Finance Companies' Research and Development Foundation

The main objective of this study is to create a database for NBFCS and analyze the role of NBFCs—both formal and informal sectors—in furthering financial inclusion and last mile delivery of credit and their contribution to financial sector growth. It will also review the NBFC models in other countries, and the present regulatory environment in India. Finally it discusses the funding opportunities and challenges of NBFCs and measures required for development and growth of NBFCs

MADRAS SCHOOL OF ECONOMICS Chennai 57 Annexure

Insulating Public Utility Pricing from Policy Fluctuations for Sustainable Growth: Power and State Road Transport Coordinator: Prof. U. Sankar Funded by: Fourteenth Finance Commission, Government of India

A concept note 'Insulating Public Utility Pricing from Policy Fluctuations for Sustainable Growth: Power and State Road Transport 'is being prepared for the 14th Finance Commission. It reviews public utility pricing literature, power sector reform experiences of developed and developing countries, the Indian power sector reform experience ,and recommends what needs to be done to make the power sector sustainable. It also assesses the physical and financial performances of State Road Transport corporations in India and suggests policy measures to make them financially viable.

Sustainable Consumption and Production Coordinator: Prof. U. Sankar Funded by: United Nations Development Programme

This study was funded by UNDP to assist the Ministry of Environment and Forests, Government of India in UN Assembly Open Working Group negotiations on sustainable development goals post - 2015. It suggests a theoretical framework for developing sustainable consumption and production indicators, critically reviews India's polices towards sustainable development at national level and in selected sectors, and prioritizes India's targets based on her national circumstances, feasibility, and likely impacts. The draft final report was submitted on 14 August, 2014.

Integrated Sustainability Assessment of Bioenergy Potentials in Asia: An Application of a Hybrid Approach on Trade-offs and Pathways (PIC-STRAP) Coordinator: Dr. K.S. Kavi Kumar Funded by: Asia Pacific Network for Global Change Research

The project covers three Asian countries – China, Phillippines and India, and involves three country teams and PIK, Germany. The field survey was completed for conjoint analysis and data analysis for assessing sustainable development index for biofuels using fuzzy inference system.

Coastal Capital: An Economic Valuation of Coastal and Marine Ecosystem Goods and Services in India Coordinator: Dr. K.S. Kavi Kumar and Dr. Lavanya Funded by: National Centre for Sustainable Coastal Management

This 15 month project started in June 2014. The inception workshop of the project partners, NCSCM, Goa University and MSE took place in June 2014 in Chennai.

58 MADRAS SCHOOL OF ECONOMICS Chennai Annexure

Leveraging Agriculture for Nutrition in South Asia Coordinator: Dr. Brinda Viswanathan Funded by: Department for International Development (UK) through MSSRF The project is supported by DFID for a period of six years from 2013 with M. S. Swaminathan Research Foundation (MSSRF), Chennai as the lead institution in this consortium of international collaborators in UK and other South Asian countries. MSE collaborated on this project to address the core question “How can South Asian agriculture be leveraged to improve undernutrition". This project was between March 2013 and February 2014. The study found was able to establish a clear link between foodgrain production and household level dietary diversity including home grown consumption. Further it emphasized a strong relationship between women's empowerment and women's BMI and other social factors including the relevance of dietary diversity.

Rural Hybrid Energy Enterprise System (RHEES) Coordinator : Dr. R. Hema Funded by : Department of Science and Technology (India) and the Research Council of UK (RCUK)

This 3-year project started in August 2013. MSE is part of a consortium led by the Centre for Sustainable Technologies, IISc. The detailed plan of action for the first year activities by each of the partners were spelled out, strategies and logistics discussed and the nature of coordination efforts by those partners whose activities were interlinked were outlined. During Nov 11 and 12, 2013, a Workshop cum exposure meeting was held at Tezpur University. Questionnaire for a baseline socio- economic survey was prepared and part of the survey has been carried by the Tezpur University and JNU partners. The RHEES UK-India workshop was held on April 28 and 29, 2014 at Delhi. The UK partners and Indian partners made their presentations about work done, plans for coming months with a lot of rich discussions on various aspects.

Tamilnadu Electricity Governance Initiative (TEGI) Coordinator: Dr. R. Hema Funded by: World Resources Institute

Between July and September 2013, a series of workshops were held to disseminate information on various issues relating to the power sector like the demand-supply gap, technical and financial performance of the utilities concerned, the shortcomings in the planning process, the emerging institutional changes, demystifying the solar policy and so on. In September 2013, a presentation was made to the State Planning Commission. Currently, the power sector plans and policies since the 90s are being analyzed.

MADRAS SCHOOL OF ECONOMICS Chennai 59 Annexure

Economic Valuation of Ecosystem Services: A Case Study of Ousteri Wetland, Puducherry. Coordinator: Dr. Zareena Begum. I Funded by: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Indo- German Biodiversity Programme Office.

The present study would assess the state of environment in and around the Ousteri , examine the probable threats to the lake and its ecological environs, and develop a Comprehensive Management Action Plan for conservation of the lake and its surroundings. The regulating services provided by ecosystems are amongst the most important for the sustainability of resource use, and yet they are also amongst the least understood. The present project would aim to consider one set of regulating mechanisms – the buffering functions of – and considers the information needed to identify both the value of the services offered by wetlands, and their substitutes. The project aims to model the interactions between agriculture and fisheries as mediated by wetlands at the lake margin. It also aims to estimate the value of the forgone nutrient retention function involved in the conversion of the wetland to agriculture, and the scope for providing the same services through land use change elsewhere in the catchment.

Policy Determinants of Household Economic Development (PDHED) Coordinators: Dr. Sukanya Das and Dr. Santosh Kumar Sahu Funded by: MSSRF, Chennai

The objective of the project is to analyze how government policies and services can help households escape inter-generational poverty traps in rural India. Government action can affect the development trajectories of rural households through the construction and maintenance of public infrastructure (eg roads, electricity, water, telephone), provision of public services (eg health care, education, agricultural extension), or the subsidization of consumption goods (eg staple foods through fair price shops). However, in the presence of the non-linear processes that create poverty traps, the same infrastructure or services may generate quite different policy outcomes for different people. This project will help to identify the types of households that benefit most, or least, from different types of public infrastructure or services over a period of twenty years in two agro- biodiversity hotspots- Kolli Hills in Tamil Nadu and Jeypore in Odhisa.

SARASWATI- Supporting Consolidation, Replication and Upscaling of Sustainable Wastewater Treatment and Re-Use Technologies for India Coordinator: Dr. Sukanya Das Funded by: EU-India DST

The prime goals of SARASWATI are to conduct an independent evaluation of already existing wastewater treatment plants in India, to consolidate and disseminate the gained knowledge from this evaluation, to assess the potential of carefully selected proven EU technologies for India, and to

60 MADRAS SCHOOL OF ECONOMICS Chennai Annexure generate knowledge that can be used to replicate and scale up the most promising technologies for wastewater treatment and reuse in India, which will be an important step for solving grave water problems such as water scarcity and (river) water pollution.

The task of MSE as a part of this EU-India consortium project is to is to look at- WP3- which involves social, economic and instituitional evaluation of the wastewater treatment and WP-5- Integrated sustainability assessment , Potential of existing technologies and innovations , Recommendations for financial and institutional mechanisms and policy instruments for overcoming barriers for effective and efficient waste water recycling and reuse.

Convergence between Corporate Governance and Corporate Social Responsibility: Implications for Sustainability of Indian Companies Coordinators: Dr. Ekta Selarka and Prof. Saumitra Bhaduri Funded by: The Indian Council of Social Science Research

The enactment of Indian Companies Act 2013 has mandated all the large companies with higher turnover and average net profit over last preceding three years to spend on social activities under the head corporate social responsibility and to disclose it in their reports and media. This study aim to trace the trend of corporate social responsibility been bestowed by Indian companies relating to their governance mechanism. A Comprehensive overview on the CSR literature around the world and in India indicates the wide range of parameters that contribute to the spending under CSR. We collect information the CSR spending and activities being carried out by the top 500 listed Indian companies from 2009-10 to 2011-12 to analyze the role of firm level governance characteristics. Univariate analysis shows that companies with larger boards and higher proportion of independent directors spend more on CSR. An econometric framework has been identified to analyze the degree and nature of interaction between CSR and governance practices of the large companies and how fundamental are these governance practices of the company's effect their financial and non- financial performance.

Determinants of non-traditional agricultural exports: study of Horticulture industry in India. Coordinator: Dr. Madhuri Saripalle Funded by: South Asia Network of Economic Research Institutes (SANEI) The objective of the study is to analyze determinants of exports in non-traditional agricultural products in India and draw lessons for south Asian countries on how to develop institutions that can integrate farmers into regional production networks. Two crops were selected across two states for primary survey; Mango in Kolar, Karnataka and Jasmine in Madurai, Tamil Nadu. The study estimated an econometric model to explain the determinants of farmers' awareness of exports as a function of socioeconomic factors, market opportunities and farming practices. The first draft of the report has been submitted to SANEI.

MADRAS SCHOOL OF ECONOMICS Chennai 61 Annexure

Promoting Employment and Skill Development in the Manufacturing Sector in India: A Study of Electronics Industry In Chennai

Coordinator: Dr. Madhuri Saripalle Funded by: Institute for Human Development (IHD) and Sponsored by International Labor Organization (ILO) Two manufacturing sub-sectors namely automobiles and electronics were selected for the study. The survey in Chennai was done during February-March and covered 35 firms in the electronics industry, based on three digit NIC scheme. The study found a high proportion of skilled workers (71%) employed in activities such as testing and designing. There was also a high proportion of semi skilled workers in assembly activities. The industry is characterized with high Import dependence and availability of skilled labor custom duties and electricity were perceived to be the major constraints.The first draft of the final report has been prepared by IHD and will be submitted to ILO.

Centre of Excellence in Environmental Economics

Economy-wide impacts of pollution in India – Meta-Analysis Coordinator: Dr. Zareena Begum and Dr. Sukanya Das Funded by: Ministry of Environment and Forest, Government of India

The final report was submitted in October 2013.

Pollution is intensified when a bourgeoning population has to be supported indefinitely with only a finite quantity of natural resources. To minimize pollution, its impact on the physical environment, it is imperative to analyze and estimate the costs incurred from pollution. Hence a meta-analysis is carried out to provide macro-level estimates of pollution costs. This study focused on two mediums of pollution, 1) Air and 2) Water: It attempted to capture the costs of air pollution and water pollution incurred in India and globally. The study substantiated the significance of calculating pollution costs from all available sources. The resulting clarity provided by comprehensive estimation hopes to persuade policy makers to adopt cost-effective measures to combat pollution. Despite the limitations in the choice of instruments (legal, technical and administrative), the conditions necessary for the long-term sustainability of economic growth is stressed upon. The solution to India's secure and sustainable economic development lies in increased budgetary allocations for environmental conservation, improvements in public health and public utilities and that determines the true success of this project. The results of the project-Economy-wide Impacts of Pollution in India: Meta Analysis was put up in the summary report. For gaining insights regarding the methodology and results, half-a day Workshop was held which was attended by eminent academicians, CPCB, Ministry experts. Comments are awaited from the Ministry on the draft final report submitted in October 2013. Though comments were also invited from independent experts on the report, following the Ministry's suggestion it has been decided to consider the inputs from the experts only after the approval of the report by the Ministry. Though comments were also invited from independent experts on the report, following the Ministry's suggestion it has been decided to consider the inputs from the experts only after the approval of the report by the Ministry.

62 MADRAS SCHOOL OF ECONOMICS Chennai Annexure

Visiting Researchers' Program Dr. M. S. Suneetha, Visiting Researcher, Madras School of Economics & Adj Senior Research Fellow, UNU-IAS (Tokyo) delivered a lecture on “The Economics of Biodiversity and Ecosystems: Finding Reasons to Secure your Food, Health and Wellbeing” on November 04, 2013 and also contributed to MSE working paper series – 'Economics of Biodiversity' is in the publication process

Prof. Peter J. Lambert, Visiting Researcher, Madras School of Economics and Department of Economics, University of Oregon, Oregon gave two lectures viz., “Inequality, Welfare and Redistribution” and “Disparities in Socio-Economic Outcomes: Some Positive Propositions and their Normative Implications” on February 02, 2014 and February 25, 2014 respectively. He also contributed with S. Subramanian to MSE working paper series – 'Group Inequalities and Scanlan's Rule: Two Apparent Conundrums and How We Might Address Them'.

A Training Program on 'Environmental Fiscal Instruments: International Experience and Relevance to India' for the State Government Officers of the North Eastern States was organized by the Department of Commerce, Tripura University, Agartala in collaboration with the Centre of Excellence in Environmental Economics, Madras School of Economics, Chennai during 6-8th November 2013.

Dissemination Papers Suneetha M S, “The Economics of Biodiversity” - A Concept Note Shanmugam, K.R., “Value of Statistical Life” - A Concept Note Kavi Kumar, K.S., “Energy, Economy And Environment Models” - A Concept Note Kathuria Vinish, “Choice of Policy Instruments” - A Concept Note

Bibliographic series Kavi Kumar, K.S., “Climate Change and Adaptation” – Das, Sukanya., Air Pollution Impacts

News Letters Green Thoughts News letter - Vol.5(2) October 2013.

Environmental Sustainability Indicators for India: Framework and Estimation Coordinator: Dr. K.S. Kavi Kumar Funded by: Ministry of Environment and Forest, Government of India

This work in non-project mode will explore the data gaps and link-up the SDIs with sustainable development goals. The first phase of the project spanning three months was completed in 2013. A detailed proposal was submitted to the Ministry for the phase-II of the project.

Environmental and Fiscal Reforms in India', edited by Dr. D.K. Srivastava and Dr. K.S. Kavi Kumar synthesizes the recent work carried out at the CoE on integration of environmental management in the GST regime. M/s Sage Publications gave expert review comments on the book and the book is presently in the production stage.

MADRAS SCHOOL OF ECONOMICS Chennai 63 Annexure

ANNEXURE 2

Members of Board of Governors as on 31.03.2014

Dr. C. Rangarajan, Chairman, MSE Dr. A.C.Muthiah, Chairman and President, SPIC Ltd. Shri T.M.Bhasin, Chairman and Managing Director, Dr. M.Govinda Rao, Member, Fourteenth Finance Commission & Former Director, NIPFP Dr. R. Radhakrishna, Chairperson, MIDS Shri S.Viji, Managing Director, Brakes India Ltd. Dr. M. Anandakrishnan, Chairman, IIT Kanpur Shri R.S. Ahlawat, Senior Advisor, MoEF, Government of India Shri K. Shanmugam , I.A.S., Finance Secretary, Government of Tamil Nadu Shri K.L. Jagdish Pai, Executive Director, Canara Bank Shri K.S. Sreenivasan, Director, Oriental Bank of Commerce Shri S.K. Jain, Executive Director, Union Bank of India Shri M. Narendra, Chairman and Managing Director, Indian Overseas Bank Dr. U.Sankar, Hony. Professor, MSE Prof. B.P. Sanjay, Vice Chancellor, Central University of Tamil Nadu Smt. Varsha Purandare, Chief General Manager, State Bank of India Dr. K.R. Shanmugam, Director, MSE

64 MADRAS SCHOOL OF ECONOMICS Chennai Annexure

ANNEXURE 3

Members of General Body other than Members of the Board of Governors as on 31.03.2014.

Dr. Kaushik Basu, Senior Vice President and Chief Economist, World Bank & Professor of Economics and C Marks Professor,

Dr. Kumar Mangalam Birla, Chairman, Aditya Birla Group Shri Harish Manwani, Chairman, Hindustan Lever Ltd. Shri Y.C. Deveshwar, Chairman, ITC Ltd. Shri R. M. Malla, Chairman and Managing Director, IDBI Dr. V.R. Panchmukhi, Former Chairman, ICSSR Shri Deepak S. Parekh, Chairman, HDFC Ltd. Thiru N.S Palaniappan IAS. Chairman, TPL and Secretary to Government, Industries Dept., Govt. of Tamil Nadu Shri Ratan N. Tata, Chairman, Sir Trust Shri S. Venkitaramanan, Former Governor, RBI Shri Shashi Kant Ruia, Chairman, Essar Group Shri N.Murali, Director, The Hindu Shri K. R. Kamath, Chairman and Managing Director, Punjab National Bank

MADRAS SCHOOL OF ECONOMICS Chennai 65 Annexure

Faculty and Staff as on 31.03.2014 Faculty

C. Rangarajan Chairman Distinguished Professor D.K. Srivastava Director 08.07.2005 – 30.06.2012 Honorary Professor 11.10.2012 K.R. Shanmugam Director 01.07.2012 – Professor 16.07.2007 – 30.06.2012 Associate Professor 01. 01.2001 – 15.07.2007 Assistant Professor 27.08.1997 – 31.12.2000 Research Associate 04.09.1995 – 26.08.1997 U. Sankar Hony. Professor 01.01.2000 – Hony. Director 01.04.1999 – 31.12.1999 Professor & Director 01.07.1995 – 31.03.1999 Kalirajan K P Visiting Professor 16.03.1996 – Velupillai K Visiting Senior Professor 23.06.1998 – Richard Shand Visiting Professor 16.03.1996 – Sunder Ramaswamy Visiting Professor 01.07.2005 – Director 08.01.2004 – 30.06.2005 Jaya Krishnakumar Visiting Professor 10.01.2007 – Swarna S.Vepa Hony Visiting Professor 02.01.2010 – Visiting Professor 02.01.2008 – 1.01.2010 Siddharthan N.S. Hony.Professor 06.11.2006 – K. Suresh Chandra Hony.Professor 09.01.2007 – David Fogarty Hony.Professor 19.08.2008 – R. Kannan Hony.Professor 05.09.2008 – K.S. Kavi Kumar Professor 16.07.2007 – Associate Professor 01.04.2002 – 15.07.2007 Assistant Professor 14.10.1999 – 31.03.2002 Brinda Viswanathan Associate Professor 05.09.2006 – Assistant Professor 03.03.2000 – 06.05.2005 Research Associate 14.10.1999 – 02.03.2000 R. Hema Associate Professor 01.01.2001 – Saumitra N. Bhaduri Professor 16.07.2007 – Associate Professor 01.10.2004 – 15.07.2007

66 MADRAS SCHOOL OF ECONOMICS Chennai Annexure

Sreejata Banerjee Associate Professor 23.09.2009 – Visiting Associate Professor 01.10.2007 – 22.09.2009 Visiting Fellow 01.07.2005 – 30.09.2007 Zareena Begam I Associate Professor 29.04.2013 Assistant Professor 08.10.2007 – 28.04.2013 E.A.Selvanathan Visiting Professor 27.12.2007 – Saroja Selvanthan Visiting Professor 27.12.2007 – Brijesh C. Purohit Professor 01.01.2008 – Kausik Chaudhuri Professor 04.07.2008 – 25.03.2013 Anindita Chakrabharthi Associate Professor 04.07.2008 – 25.03.2013 Sukanya Das Assistant Professor 11.01.2011 – Lecturer 02.06.2008 – 10.01.2011 Madhuri Malhotra Assistant Professor 11.01.2011 – Lecturer 01.09.2008 – 10.01.2011 Savitha Bhat Assistant Professor 11.01.2011 – 02.09.2011 Lecturer 05.01.2009 – 10.01.2011 Ekta Selarka Assistant Professor 15.04.2011 – Madhuri Saripalle Assistant Professor 04.08.2011 Santosh Kumar Sahu Assistant Professor 01.04.2014 Lecturer 17.01.2013 - 31.03.2014 Kaushal Kishore Assistant Professor 01.07.2013 Sunil Paul Assistant Professor 01.04.2014 Lecturer 01.07.2013 - 31.03.2014

Staff T.V. Subramanian PRO & Administrative Officer in charge 18.11.2008 – Public Relations Officer 18.01.2007 – 17.11.2008 K. Baskar Librarian 17.10.2007 – L.N. Kumar Raju Accounts Officer 01.06.2008 – Accountant 29.06.1998 – 31.05.2008 V. Sudha P.S. to Chairman 03.10.2007 – P.A. to Director 01.10.2000 – 02.10.2007 Stenographer 03.09.1997 – 30.09.2000 Biswajit Sahu System Manager 12.08.2006 – System Analyst 05.05.2004 – 11.08.2006 G. Geetha Programmer 01.03.1999 – Programming Assistant 27.09.1995 – 28.02.1999

MADRAS SCHOOL OF ECONOMICS Chennai 67 Annexure

K. Vikram System Analyst 07.01.2008 – 06.02.2013 B.Vishnu Prasad Web Programmer 04.11.2011 – J. Selvam Senior Administrative Assistant 01.06.2008 – Administrative Assistant 01.03.2001 – 31.05.2008 Administrative Clerk 01.12.1998 – 28.02.2001 Accounts Clerk 27.09.1995 – 30.11.1998 S. Sivakumar Accountant 01.06.2008 – Assistant Accountant 01.03.2000 – 31.05.2008 Accounts Clerk 22.11.1996 – 28.02.2000 D. N. Ravichandran Maintenance Engineer 10.10.2007 – Maintenance Supervisor 01.03.2000 – 09.10.2007 Assistant Supervisor 07.03.1997 – 28.02.2000 C. Palanisamy Electrician 05.07.2007 – Sudha Baskaran Students Coordinator 02.06.2008 – T.V.K.Lakshmi Narasimhan Care Taker 01.11.2011 – 02.08.2013 P. Saraswathi Senior Word Processing Assistant 11.12.2006 – Word Processing Assistant 03.11.1997 – 10.12.2006 K. Santhi Senior Library Assistant 03.10.2007 – Library Assistant 01.07.2004 – 02.10.2007 Library - cum - Documentation Assistant 01.03.2002 – 30.06.2004 Typist 06.11.1997 – 28.02.2002 B. Sathya Jothi Word Processing Assistant 01.04.2004 – K. Geethamala Word Processing Assistant 11.12.2006 – B. Barath Receptionist cum Despatch Clerk 08.05.2008 – Office Assistant 01.04.2004 – 07.05.2008 B. Meenakshi Documentation Assistant 02.05.2008 – K. Sekar Driver 18.09.1995 – S.Mukundan Driver 14.01.2000 – W. Angeline Mary Office Assistant 08.05.2008 – Helper 01.12.1996 – 07.05.2008 G. Sridhar Helper 12.12.1996 – Nirmala Krishnan Consultant Librarian 09.11.2007 –

68 MADRAS SCHOOL OF ECONOMICS Chennai Annexure

CIGNA Convergence of Corporate Governance and Corporate Social Responsibility: Implication for Sustainability in Indian CompaniesProject

Balasubramanian Research Associate 11.07.2013 01.03.2013 – 30.06.2013

Leveraging Agriculture for Nutrition in South Asia

Getsie David Research Associate 01.07.2013 – 28.02.2014

Policy Determinants of Household Economic Development

Nagar Arjun Research Associate 12.11.2013 Suryakant Pal Research Associate 12.11.2013 Didin Mathew Research Associate 12.11.2013

ANNEXURE 5

Ph.D Scholars as on 31.03.2013 Name Topic/Area Supervisor Ms. J. Prachitha Health Expenditures of State Governments Dr.K.R.Shanmugam in India Determinants, needs and efficiency Ms. Anubhab Pattanayak Economic Analysis of Climate Change Dr. K.S.Kavikumar Impacts and Adaptation in India Ms. Varalakshmi Rajam Cardio Vascular Risk Profile and Nutritional Assessment of Middle Aged Dr.Brinda Viswanathan Women: A socio Economic Perspective Ms. Nalini Gandhi Multi-Dimensional Framework for Dr.Brinda Viswanathan Child Health Care in India Mr.Bipin Sony Area: Corporate Finance Dr.Saumitra Bhaduri Mr.Renjith P.S. Area: Public Finance Dr.K.R.Shanmugam Ms.Rema Area: Banking Dr.K.R.Shanmugam

MADRAS SCHOOL OF ECONOMICS Chennai 69 Annexure

M.Sc. GENERAL ECONOMICS FIRST YEAR

Abhishek Chauhan Nitika Agarwal Abul Kamar Nitin Garg Aditi Singh R Muthuraj Adityanath Jha Radhika Maheshwari Anamitra Kahali Ragini Trehan Ankita Aggarwal Ratnesh Ranjan Grain Ashwin Ram Rishman Jot Kaur Chahal Ayushi Singh Saurabh Gupta Chandan Kumar Sayak Dutta Chriss Acca Mathews Sayantan Dawn Deepak Kumar Sindhuja Aitipamula Deepak Mishra Sourav Ghosh Diptendra Nath Bagchi Surbhi Singh Hafizur Rahman Surendra Sivakumar Himani Sharma Uddanti Yugandhar Jai Kishan Jalan Utkarsh Patel Jai Prakash Yadav Vidushi Sharma K Radhika Virendra Singh Karambir Singh Dhayal Yamini Singh Lisha Agarwal Yasharth Srivastava Nimisha Jaiswal

M.Sc. FINANCIAL ECONOMICS

FIRST YEAR Abhishek Kumar Priya Tibrewal Aditya Aman Rahul Verma Agrata Datta Richa Anuragini Ajeet Kumar Sakshi Akash Biswas Sanchita Roychowdhury Ankur Singh Sanjana Sharma Bhawya Ahuja Santanu Sadhanidar Divya Sinha Sayan Kumar Nandi Harshita Sethi Sennaya Swamy Indraja Jaiswal Naickar RKSM Kriti Kulshrestha Shivanya Chandra Leena Dhingra Shweta Anil Thorat Mainak Paul Subhadri sankar mallik Mridupawan Bharadwaj Subhra choudhury Mriga Bansal Swati daruka Nikhil U Tulika negi Parvez Alam Vibha chaudhary

70 MADRAS SCHOOL OF ECONOMICS Chennai Annexure

M.Sc. ENVIRONMENTAL ECONOMICS

FIRST YEAR

Anand S Mohana Mondal Anu Anna Jo Nikita Gulati Arpita Nehra Priyanka julka Jerryn Thomas Cherian Satarupa Rakshit Mahima Dhingra Shruti Gupta Mallika Sharma Sumit Aggarwal Megha Jacob

M.Sc. ACTUARIAL ECONOMICS

FIRST YEAR

Amarnath R Piyush Garg Ambica Roy Priya Jindal Anshuma Chandak Rashi Singhal Architha Sridharan Rohit Sinha Ayan Shukla Siddhartha Gosh Chirag Arora Souvik Mukherjee Divya Nedunchezhian Vihhakha Relan Manikandan M. R Mayank Kumar Raj

M.Sc. APPLIED QUANTITATIVE FINANCE

FIRST YEAR

Aditya Cholan M Navya Tirumala Akanksha Sahay Neha Gupta Anchal Agarwal Niharika Verma Angelika Saxena Prasannjit Mishra Archana R Ranvir Sengupta Ashmita Surana Ritu Anand Bishu Giri Samhita D Deepanjali Mehta Shivya Gandhi Jigyasa Vig Shreyasi Chaudhury Khushboo Varu Soumabh Banerjee Mayuri Mukherjee Souvik Sen Mehak Batra Spandan Ghosh Moumita Roy

MADRAS SCHOOL OF ECONOMICS Chennai 71 Annexure

M.Sc. GENERAL ECONOMICS

SECOND YEAR

Akshay Jain Manisha Sahai Amol Mishra Maria Jose Ann Raymond Mayank Jain Annadurai Adhirai Monika Bansal Arjun Srinivas Naweed Ahmed Arpita Ghosh Nikita Dhingra Arzina Hossain Niranjan M Avinash Shroff Raj Priyadarshi Barun Kumar Rajdeep Mitra Benjamin Thomas Ipe Ruma Kumari Deepak Kumar Shailendra Kumar Dinesh Kumar Choudhury Shilpa Arora Divya James Athoopallil Snehaj Ekta Joshi Soundar Rajan R. S Ishan Roy Suganya B Lamyanba Meetei S Vidya Bharathi R Lydia De Salma

M.Sc. FINANCIAL ECONOMICS

SECOND YEAR

Abinaya. S Iti Vats Aditi Bhattacharya Julie K Aditya Arora Leeza Mathew Afreena Rehman Megha Grover Akash Banerjee Meghna Rajeev Akshay Kapur Mohit Gupta Amitendra Singh Thenua Rahul Kumar Som Anish Vikram Sarbani Ghosh Ankita Dimri Shayak Mukherjee Ch Bns Kumar Sourish Chakraborty Debajyoti Das Subhrajit Choudhury Debarghya Roy Suraj Kumar Himadri Shekhar Chakrabarty Irshikaa Mehrotra

72 MADRAS SCHOOL OF ECONOMICS Chennai Annexure

M.Sc ENVIRONMENTAL ECONOMICS

Second year

Abhijit Sharan Pallavi Nahata Jagriti Kumari Parisha Budhiraja Manav Pachnanda Priya Sara Behanan Megha Nath Shivam Malhotra Mishika Sama Thomas Alex

M.Sc. ACTUARIAL ECONOMICS

Second Year

Amoolya Elizabeth Prakash Piyu Jain Anwesha Roy Romita Bhattacharya Deepa Janakiraman Sanjay Bhardwaj S Deepak George Jacob Sondeep Chakravarty Elna James Kattoor Sweta Meenakshi Dhiman Subarna Gayen

M.Sc. APPLIED QUALITATIVE FINANCE

Second Year

Anshula Shukla Megha Joshi Bindhu B. L Navneet Kumar Chinmay Sinha Neha Jangpangi Gurinder Singh Nidhish Kumar Ishan Kamal Pritam Jyoti Changkakoty Jagtar Singh Dua Saksham Shubham Jimut Bahan Chakrabarty Sonali Agarwal Krishnaveni P Vandhana Sivakumar Manasa Mishra

MADRAS SCHOOL OF ECONOMICS Chennai 73 Auditor's Reports

4

4

For Natarajan & Co. 04-09-2014 Chartered Accountants

Chennai A. Basker Partner (Membership No. 211721)

74 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

Statement of Financial Position as on 31.03.2014

As on As on 31.03.2014 31.03.2013 Rs. Rs.

Corpus - General 1 247370427 245129795

Corpus - Specific 2 50630837 46396623

Project Fund Account 3 2111834 -

Other Funds 4 52879628 49170450

Security / Caution Deposits 5 2760054 2760324

Reserves and Surplus 6 3192780 2256290

Total 358945560 345713482

Application

Fixed Assets 7 157646786 131825429

Investments 8 173022509 164198102

Project Fund Account 3 - 2595594

Current Assets 36478499 54714726

Less : Current Liabilities 8202234 7620369 Net Current Assets 9 28276265 47094357

Total 358945560 345713482

Dr. K.R. Shanmugam Director

MADRAS SCHOOL OF ECONOMICS Chennai 75 Statement of Accounts 2013-2014

Statement of Income and Expenditure for the year ended 31.03.2014

2013-2014 2012-2013 Schedule No. Rs. Rs.

Income

Course fees 10 11260555 8755065

Hostel fees 11 7951720 3993851

Project Handling Charge 12 3971445 2092108

Interest on Investments 13 11795768 11708870

Other income 460918 812328

Total 35440406 27362222

Expenses

Salary expenses 14 13165102 13732787

Operational expenses 15 2950047 3612989

Administrative expenses 16 5505166 5511033

Expenses-Grant 17 5663299 4325144

Expenses written off-RBI 3673916 -

Depreciation 18 3546386 3069811

Total 34503916 30251764

Excess of Income over Expenditure 936,490 (2,889,542)

Dr. K.R. Shanmugam Director

76 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

Statement of Receipts and Payments for the year ended 31.03.2014 Opening balance as on 01.04.2013 (i) State Bank of India, AU, CD 10496972602 2,003,854.00 (ii) Canara Bank, SB 75464 710,398.00 (iii) Indian Bank, Kotturpuram, SB 479090681 144,043.00 (iv) Indian Bank, Kotturpuram, SB 479136481 2,548,573.00 (v) Indian Bank, Kotturpuram, SB 479103896 570,528.00 (vi) Indian Bank, Kotturpuram, SB 479115905 866,388.00 (vii) Indian Bank, Kotturpuram, SB 479119896 274.00 (viii) OBC, Kotturpuram, SB 1024201 1005316 7,459.00 (ix) OBC, Kotturpuram, SB 1024201 1005323 3,118,544.00 (x) State Bank of India, AU,CD 31495708586 582,442.00 (xi) IOB, Adyar SB 163501000002345 5,000.00 Cash - Imprest 10,557,503.00 Total IV

1 Contributions 853,275.00 2 Project fees 14,861,779.00 3 Course and programme fees 11,228,795.00 4 Interest on investments 14,551,058.00 5 Hostel receipts 7,902,205.00 6 Short Term Deposits 17,500,000.00 7 Project overheads and Miscellaneous income 4,023,244.00 Total II 70,920,356.00

1 Fixed assets 25,723,975.00 2 Advances and deposits 1,009,403.00 3 Investments 2,000,000.00 4 Other expenses (i) Salary 11,365,093.00 (ii) Operational 2,384,640.00 (iii) Administration 5,081,466.00 (iv) GOI grant 5,663,299.00 (v) Endowment 977,619.00 (vi) Project 13,914,728.00 Total III 68,120,223.00 Closing balances as on 31.03.2014 (i) State Bank of India, AU, CD 10496972602 2,254,367.00 (ii) Canara Bank, Kotturpuram SB 75464 2,414,774.00 (iii) Indian Bank, Kotturpuram, SB 479090681 158,615.00 (iv) Indian Bank, Kotturpuram, SB 479103896 532,600.00 (v) Indian Bank, Kotturpuram, SB 479115905 2,688,355.00 (vi) Indian Bank, Kotturpuram, SB 479119896 967,594.00 (vii) OBC, Kotturpuram, SB 1024201 1005316 285.00 (viii) OBC, Kotturpuram, SB 1024201 1005323 7,760.00 (ix) State Bank of India, AU,CD 31495708586 3,975,324.00 (x) IOB, Adyar, SB 163501000002345 352,962.00 Cash - Imprest 5,000.00 Total IV 13,357,636.00

Dr. K.R. Shanmugam Director

MADRAS SCHOOL OF ECONOMICS Chennai 77 Statement of Accounts 2013-2014

Schedule No. 1 :

Corpus General Rs.

1. Contribution to Corpus Fund 76140735

2. Growth Corpus 735000

3. General Funds 414821

4. Capital Grants from GOI 79942710

5. Grant from GOI-Corpus Fund 61224856

6. Planning Commission Grant 4251877

7. Ministry of Finance - DEA Grant 4760428

8. Grant - Building 19900000

Total 247370427

78 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

Schedule No.2 : Corpus Specific

Booth- alingam Endow- ment Fund 80G Rs.

01-04-2013 2500000 3000000 10000000 1110000 500000 300000 450000 10000000 600000 800000 29260000 10026580 5885140 6950187 169782 1585714 916134 920197 3778427 49081 261088 30542330 -3416995 -2256670 -4124623 24289 -146382 - -96958 -3113655 -36310 189825 13405707 9109585 6628470 12825564 1255493 1939332 1216134 1273239 10664772 612771 871263 46396623

2013-14 - - - 515000 ------515000 901786 954100 1084737 114970 266788 112230 118408 1021418 57452 64944 4696833 - - -776830 -60992 - - - -50000 - -89797 -977619 901786 954100 307907 568978 266788 112230 118408 971418 57452 -24853 4234214

31-03-2014 2500000 3000000 10000000 1625000 500000 300000 450000 10000000 600000 800000 29775000 10928366 6839240 8034924 284752 1852502 1028364 1038605 4799845 106533 326032 35239163 -3416995 -2256670 -4901453 -85281 -146382 - -96958 -3163655 -36310 -279622 -14383326 10011371 7582570 13133471 1824471 2206120 1328364 1391647 11636190 670223 846410 50630837

MADRAS SCHOOL OF ECONOMICS Chennai 79 Statement of Accounts 2013-2014

Schedule No. 3 : Project Fund Account Balance as on Balance as on Name of the project 01.04.2013 Receipts Expenditure 31.03.2014 Rs. Rs. Rs. Rs. a) Textile 39376 - - 39376 b) Centre of Excellence -378783 4357783 4041939 -62939 c) SANEI - 152661 - 152661 d) CIGNA -23710 2055254 2031544 - e) ENVIS 68043 - 68043 - f) PDHED-MSSRF - 1212090 939747 272343 g) COE-VR Program 3016 196984 212525 -12525 h) OCE - Training Programme 207137 292863 366401 133599 i) NLC 207364 483866 691230 - j) NTPC - 917420 954454 -37034 k) Meta Analysis 177708 - - 177708 l) UNEP-LSE 20994 - 20994 - m) ICSSR - 1000000 768623 231377 n) Department of Commercial 288000 - 288000 - o) RBI -3673916 3673916 - - p) Philipines - 364797 65361 299436 q) RHEES-DST - 1054690 414212 640478 r) COE-White paper -51799 51799 - - s) Green Economy (US) -353702 353702 - - t) 14th FC - TN - 600000 600000 - u) CII 1077437 308650 1386087 - v) SANDEE-Green House -202759 218323 - 15564 w) ECO Tax - 300000 300000 - x) LANSA - 420000 511548 -91548 y) 14th FC - 348230 363896 -15666 z) FC R&D Foundation - 450000 - 450000 aa) TIES - - 80996 -80996

Total -2595594 18813028 14105600 2111834

80 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

Schedule No. 4 : Other Funds

As on 2013-14 As on 31.03.13 31.03.14 Rs. Rs. Rs. 1. Depreciation Reserve Fund 47514175 3546386 51060561 2. Academic Development Fund 1656275 162792 1819067 Total 49170450 3709178 52879628

Schedule No. 5 : Security / Caution Deposits

As on 2013-14 As on 31.03.13 31.03.14 Rs. Rs. Rs.

Security / Caution Deposits 2760324 -270 2760054

Schedule No. 6 : Reserves and Surplus

As on 2013-14 As on 31.03.13 31.03.14 Rs. Rs. Rs.

Excess of income over expenditure 2256290 936490 3192780

MADRAS SCHOOL OF ECONOMICS Chennai 81 Statement of Accounts 2013-2014

Schedule No. 7 : Fixed Assets

Details of Assets Gross value as Additions Deletions Gross value as on 01.04.2013 on 31.03.2014 A. General Rs. Rs. Rs. Rs. 1. A C F Building 10267976 - - 10267976 2. Library Building 5370588 7307275 - 12677863 3. Hostel Building 12709332 - - 12709332 4. COE-Building 6583168 194632 - 6777800 5. Ladies Hostel 14724862 - - 14724862 6. New Hostel 7019741 6802100 13821841 7. EDP 7708617 683325 - 8391942 8. Office Equipment 2079055 5775 - 2084830 9. Furniture & Fittings a) A C F Building 3702733 - - 3702733 b) Library Building 2198384 2949018 - 5147402 c) Hostel Building 2681359 49436 - 2730795 d) COE-Building 1011106 - - 1011106 e) New Hostel 2109496 - - 2109496 10. Electrical Fittings a) A C F Building 465384 3750 - 469134 b) Library Building 143024 952850 - 1095874 c) Hostel Building 363744 1800 - 365544 d) New Hostel 665250 491737 - 1156987 11. Vehicles 1025523 - - 1025523 12. Other equipment 3323693 496274 - 3819967 13. Capital Work-in-progress 35653363 5858800 - 41512163 14. Library Books 3809604 7334 - 3816938 15. Library Periodicals 8209428 17250 - 8226678

Total 131825430 25821356 - 157646786

82 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

Schedule No. 8 : Investments As on As on 31.03.2014 31.03.2013 Rs. Rs. a) State Bank of Travancore 15000000 15000000 b) SBI 21804407 15000000 c) IOB 68920000 73900000 d) Canara Bank 25200000 25200000 e) Indian Bank 22098102 15098102 f) Stock Holding Corporation of India Ltd. 20000000 20000000 Total 173022509 164198102

As on As on A. CorpusFunds 01.04.2013 2013-14 31.03.2014 Rs. Rs. Rs. a) Section 35(1)(iii) 20000000 - 20000000 b) Section 80 G 17817000 3562651 21379651 c) Growth Corpus 290000 -290000 - d) GOI Corpus 60000000 1224856 61224856 e) Others - - - Total A 98107000 4497507 102604507 B. Endowment Funds Section 35(1) (iii) a) Hindustan Lever Chair 9110000 900000 10010000 b) Shri T.S. Santhanam Chair 6630000 1000000 7630000 c) Canara Bank Chair 12840000 300000 13140000 Section 80G a) Shri S.D. Chelliah Fund 1251000 -970000 281000 b) Centre for Research in EE Policy 1940000 260000 2200000 c) Cell in Infrastructure Studies 1210000 120000 1330000 d) Library Fund 1270000 130000 1400000 e) Union Bank of India Chair 10680000 1000000 11680000 f) Shri Boothalingam Endowment 610000 60791 670791 g) Shri R. Venkataraman Endowment 870000 -20000 850000 h) Dr. Chelliah Endowment - 1550000 150000 Total B 46411000 4330791 50741791 C. Depreciation Fund 19680102 -3891 19676211 Total (A+B+C) 164198102 8824407 173022509

MADRAS SCHOOL OF ECONOMICS Chennai 83 Statement of Accounts 2013-2014

Schedule No. 9 : Net Current Assets As on As on 31.03.2014 31.03.2013 Rs. Rs. A. Current Assets (i) Interest accrued 13134108 10027522 (ii) Prepaid expenses 551473 264457 (iii) Recoverables - TDS 2190343 2253234 (iv) Recoverables -Grants, fees & others 391705 389705 (v) Advances-building and others 4188479 7269877 (vi) Other deposits 870080 726630 (vii) CUTN 1794675 - (viii) Cash imprest 5000 5000 (ix) ST Deposits - 23225798 (x) Bank (i) State Bank of India, AU, CD 10496972602 2254367 2003854 Balances (ii) Canara Bank, Kotturpuram SB 75464 2414774 710398 (iii) Indian Bank, Kotturpuram SB 479090681 158615 144043 (iv) Indian Bank, Kotturpuram SB 479103896 532600 2548573 (v) Indian Bank, Kotturpuram SB 479115905 2688355 570528 (vi) Indian Bank, Kotturpuram SB 479119896 967594 866388 (vii) OBC, Kotturpuram SB 1024201 1005316 285 274 (viii) OBC, Kotturpuram SB 1024201 1005323 7760 7459 (ix) State Bank of India, AU, CD 31495708586 3975324 3118544 (x) IOB, Adyar, SB 163501000002345 352962 582442 Total A 36478499 54714726 B. Current Liabilities a) Arthiki 30825 119153 b) Students Deposits 3353500 3404940 Outstanding Liabilities a) Salary 1802053 1621987 b) PF contribution 121146 107370 c) Salary related expenses - 152140 d) Fellowships 60500 27500 e) Repairs and Maintenance 155796 125710 f) Telephone, Fax & E-mail 7734 11359 g) Audit fees 35955 33708 h) Electricity 73253 - i) Honorarium 60000 - j) Others - 2016502 k) Gratuity 1505959 - l) Students 263965 - m) Building Contractors 452702 - n) Projects 278846 - Total B 8202234 7620369 C. Net Current Assets (A-B) 28276265 47094357

84 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

Schedule No. 10 : Course fees

2013-14 2012-13 Rs. Rs.

Fees Received 11260555 8755065

Schedule No. 11 : Hostel fees 2013-14 2012-13 Rs. Rs.

Hostel receipts 7951720 3993851

Schedule No. 12 : Project handling charges 2013-14 2012-13 Rs. Rs.

Charges received 3971445 2092108

Schedule No. 13 : Interest on Investment

2013-14 2012-13 Rs. Rs.

Interest received 11795768 11708870 Total 11795768 11708870

Schedule No. 14 : Salary Expenses

2013-14 2012-13 Rs. Rs. a) Pay 6474356 7687091 b) House rent allowance 1297541 1230304 c) Conveyance allowance 325843 278858 d) Special allowance 1080323 2152892 e) Dearness allowance 1026812 638712 f) EPF Contribution and Administrative Charges 1012296 955197 g) Gratuity 1363960 276176 h) Medical and Other welfare expenses 332149 286698 i) Other Salary related expenses 251822 226859 Total 13165102 13732787

MADRAS SCHOOL OF ECONOMICS Chennai 85 Statement of Accounts 2013-2014

2013-14 2012-13 Schedule No. 15 : Operational Expenses Rs. Rs.

a) Books (Non-library) - 60300 b) Periodicals - 18886 c) Honorarium 1439540 1111750 d) Fellowships 819563 627217 e) Advertisement 208169 246809 f) Software license 373571 1189222 g) Library database 58131 192576 h) Faculty Seminar 16954 9969 i) Subscription - 6500 j) Cultural Programme 25620 54299 k) Miscellaneous 8499 95461 Total 2950047 3612989

2013-14 2012-13 Schedule No. 16 : Administrative Expenses Rs. Rs. a) Travel expenses 103697 291421 b) Conveyance 90069 206652 c) Rent 3000 3000 d) Electricity & water charges 1043034 987576 e) Printing 408495 476159 f) Stationery 82248 118320 g) Telephone, fax and e-mail charges 388532 317022 h) Postage 26775 34039 i) Repairs and maintenance 2693023 2025551 j) Petrol and oil 183756 195986 k) Repairs and maintenance - Vehicle 31627 40968 l) Other Vehicle related expenses 39627 29794 m) Audit fees 35955 33708 n) Fees for tax matters and certification 11237 11239 o) Bank charges 8112 11853 p) Entertainment 117006 105085 q) Insurance 35528 31993 r) Consultancy charges - 399216 s) Annual Day Expenses 131297 160935 t) Other Miscellaneous Expenses 72148 30516 Total 5505166 5511033

86 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

2013-14 2012-13 Schedule No. 17 : Expenses - Grant Rs. Rs.

Pay 1,598,979 792,282 House rent allowance 304,170 212,247 Conveyance allowance 34,665 21,733 Dearness allowance 3,725,485 3,298,882

Total 5,663,299 4,325,144

Schedule No. 18 : Depreciation

Particulars Rate 31.3.2013 Additions Deletion Total Depn. 31.3.2014 Rs. Rs. Rs. Rs. Rs. Rs. A General ACF Building 5% 4719803 - - 4719803 235989 4483814 Library Building 5% 2142347 - - 2142347 289799 1852548 Hostel Building 5% 5810044 - - 5810044 290502 5519542 COE-Building 5% 4087265 - - 4087265 204364 3882901 Ladies Hostel 5% 12795180 - - 12795180 557214 12237966 New Hostel 5% 6844247 - - 6844247 512264 6331983 Vehicles 20% 348678 - - 348678 52302 296376 Other Equipment 25% 1112694 - - 1112694 68952 1043742 EDP 25% 2019526 - - 2019526 723231 1296295 Office Equipment 25% 733661 - - 733661 36827 696834 Furniture & Fittings 5% 5340247 - - 5340247 574942 4765305

Total 45953692 - - 45953692 3546386 42407306

MADRAS SCHOOL OF ECONOMICS Chennai 87 Statement of Accounts 2013-2014

Schedule No. 19: Significant Accounting Policies and Notes on Accounts

A. Accounting Policy 1. Accounts are drawn up on accrual basis. 2. Any contribution made without any specific object towards Endowment Fund is treated as contribution towards Corpus. 3. Cost of library books and periodicals are treated as assets and no depreciation is charged on these items. 4. Depreciation is provided on written down value method at rates prescribed as per Income Tax Act except buildings and EDP items which are charged at reduced rates. 5. Depreciation Reserve Fund is created and an amount equal to the yearly Depreciation as on 31st March each year is being transferred to this Fund to be invested as per applicable norms for educational institutions. Interest on these investments is not credited to the fund but transferred to general income. 6. Endowment Funds are shown separately in the Balance Sheet. Return on investments of these funds, to the extent unutilised during the year, is credited to the respective fund. 7. Assets relating to projects are not being capitalised because such assets are bound to be returned upon completion of projects. 8. Rs. 6 crores was received from Government of India towards Corpus and return from its investment was used to pay increase in faculty salary and for appointment of new faculty and unutilised amount is added back to the corpus. Rs. 4 crores was received towards construction of new academic block.

B. Notes on Accounts 1. Employees are covered under Employees' Provident Fund and Miscellaneous Provisions Act,1952 2. The Government of Tamil Nadu had given on lease about 3 acres of land for a period of 30 years from 17.03.1994 situated at Kottur village rear to Government Data Centre, Chennai, for the purpose of establishment of this School. The said lease is renewable with mutual consent 3. Depreciation Reserve Fund is not fully represented by corresponding investments to the extent of Rs 314 lakhs (approximately). 4. From 2005-06 onwards the interest on investments made out of Depreciation Reserve is not being credited to the Fund but is being transferred to general income. 5. Previous year's figures have been rearranged wherever considered necessary. 6. Figures have been rounded off to the nearest rupee.

Dr. K.R. Shanmugam Director

88 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

Contributions

As on As on A. Contributions to the Corpus Fund 31.03.2013 2013-14 31.03.2014 I Under Sec. 35(1)(iii) Rs. Rs. Rs. Engine Valves Ltd 150000 - 150000 Rane Brake Linings Ltd 150000 - 150000 Rane (Madras) Ltd 150000 - 150000 TAFE Ltd 2500000 - 2500000 Ganapathi Trust 25000 - 25000 MRF Ltd. 200000 - 200000 Oriental Bank of Commerce 3000000 - 3000000 Indian Overseas Bank 3000000 - 3000000 Kasturi & Sons 2500000 - 2500000 Punjab National Bank 5000000 - 5000000 MAC Charities 5000000 - 5000000 HDFC Ltd. 1000000 - 1000000 Sundaram BNP 1000000 - 1000000 Sundaram Finance Ltd. 4000000 - 4000000 Bank of Madura Ltd. 500000 - 500000 Total I 28175000 - 28175000

II Under Sec. 80G SPIC Science Foundation 500 - 500 MRF Ltd. 200000 - 200000 HDFC Ltd. 3200000 - 3200000 Carborandum Universal Ltd 100000 - 100000 Tube Investments of India Ltd 100000 - 100000 Parry Agro Industries Ltd 100000 - 100000 EID Parry (India) Ltd 100000 - 100000 Cholamandalam Invest. And Finance Co. 100000 - 100000 Peroxides India Ltd. 500000 - 500000 Essar Gujarat Ltd 3000000 - 3000000 Indian Bank 5000000 - 5000000 Ganapati Trust 25000 - 25000 TAFE Ltd 500000 - 500000 SPIC Educational Foundation 5000000 - 5000000 Hindalco Industries Ltd 1000000 - 1000000 Grasim Industries Ltd 1000000 - 1000000 Ltd 500000 - 500000 Sri Ratan Tata Trust 1000000 - 1000000 ICICI Ltd. 5000000 - 5000000 ITC Ltd. 3000000 - 3000000 ShrIram Smarak Nidhi 510000 - 510000 IDBI 2500000 - 2500000 Tamilnadu Petroproducts Ltd 5000000 - 5000000 Modi M Foundation 1000000 - 1000000 ICRA Ltd. 15000 - 15000 ILFS Ltd. 1000000 - 1000000 Corporation Bank 500000 - 500000 Peerless Gen.Finance & Invest. Co. Ltd. 1000000 - 1000000 State Bank of India 10000000 - 10000000 Total II 50950500 - 50950500 Total A (I+II) 79125500 - 79125500

MADRAS SCHOOL OF ECONOMICS Chennai 89 Statement of Accounts 2013-2014

As on As on B. Contributions to the Endowment Funds 31.03.2013 2013-14 31.03.2014 I Under Sec. 35(1)(iii) Rs. Rs. Rs.

Hindustan Lever Ltd 2500000 - 2500000 Sundaram Finance Ltd. 3000000 - 3000000 Canara Bank 10000000 - 10000000 - Total I 15500000 - 15500000

II Under Section 80G Dr. Raja J. Chelliah 85000 - 85000 Power Finance Corporation Ltd. 500000 - 500000 Larsen & Tourbo Ltd 300000 - 300000 HDFC Ltd 250000 - 250000 Shri R.Venkataraman 800000 - 800000 Dr. Raja J. Chelliah & Mrs. Sita Chelliah 40000 15000 55000 Union Bank of India 10000000 - 10000000 SAGE Publications P Ltd. 150000 - 150000 Infrastructure Leasing & Financial Services 200000 - 200000 Ravi Boothalingam & Mina Swaminathan 600000 400000 600000 Orchid Chemicals Ltd. 5000000 - 5000000 Indian Overseas Bank 7500000 3500000 7500000

Total II 21525000 3900000 25425000 Total B (I+II) 37025000 3900000 40925000

C. Contribution to Growth Corpus

Dr. R.J.Chelliah 1090000 500000 1590000 ICRA Ltd. 75000 - 75000 Madras Cements Ltd. 500000 - 500000 PSA Sicals Terminals Ltd. 100000 - 100000 Dr. D.K.Srivastava 789282 - 789282 Others 1180953 - 1180953

Total C 3735235 500000 4235235

D. Public Donations 414821 - 414821

E. Total Contributions (A+B+C+D) 124200556 515000 124715556

90 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

Subsidiary Accounts for Grant from GOI

As on As on 01.04.2013 2013-2014 31.03.2014 Rs. Rs. Rs.

Contributions 60000000 - 60000000 Return on investments 7764349 5663299 13427648

Total 67764349 5663299 73427648

Utilisation 6539493 5878189 12417682 Investments 60000000 1224856 61224856 Balance 1224856 -1224856 -

Total 67764349 5878189 73642538

MADRAS SCHOOL OF ECONOMICS Chennai 91 Statement of Accounts 2013-2014

Subsidiary Accounts for Grant from GOI

As on As on 01.04.2013 2013-2014 31.03.2014 Rs. Rs. Rs.

Contributions 40000000 - 40000000 Return 3444948 1015777 4460725

Total 43444948 1015777 44460725

Utilisation 26340253 15171911 41512164 Balance 17104695 -14156134 2948561

Total 43444948 1015777 44460725

92 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

Research & Development under Section 35(1)(iii) of I.T Act Statement of Financial Position as on 31.03.2014

As on As on 31.03.2014 31.03.2013 Source Rs. Rs.

Contributions 28175000 28175000 Endowment Funds 30727413 28563619 Depreciation Reserve Fund 1377141 1355087 Accumulated Surplus 2993423 2507410 Total 63272977 60601116

Application

Building 1114914 1114914 Computer 645483 645483 Investments 50780000 48580000 Interest Accrued 1559728 631683 Bank Balance 9172852 9629036 Total 63272977 60601116

Dr. K.R. Shanmugam Director

MADRAS SCHOOL OF ECONOMICS Chennai 93 Statement of Accounts 2013-2014

Research & Development under Section 35(1)(iii) of I.T Act Statement of Income and Expenditure for the year ended 31.03.2014

As on As on 31.03.2014 31.03.2013 Income Rs. Rs.

Interest 1598612 1814704 Interest (Endowment Funds) 2940623 2288326 Total 4539235 4103030

Expenses Pay 433596 902092 HRA 130079 270648 Dearness allowance 374554 638712 Conveyance allowance 16200 43200 EPF Contribution and administrative charges 97263 195611 Gratuity 38853 74077 Expenses (Endowment Funds) 776830 1289256 Depreciation 22054 23843 Total 1889429 3437439

Excess of Income over Operating Expenditure 2,649,806 665,591 Transfer to endowment fund 2,163,793 999,070 Excess of Income over Expenditure 486,013 (333,479)

Dr. K.R. Shanmugam Director

94 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

Research & Development under Section 35(1)(iii) of I.T Act Statement of Receipts and Payments for the year ended 31.03.2014

Rs.

1. Bank balance as on 01.04.2013 9629036 2. Receipts - Interest 3611191 Total (1+2) 13240227

3. Payments a) Salary and other expenses 1867375 b) Investments 2200000 4. Bank balance as on 31.03.2014 9172852 Total (3+4) 13240227

Dr. K.R. Shanmugam Director

MADRAS SCHOOL OF ECONOMICS Chennai 95 Statement of Accounts 2013-2014

Subsidiary Accounts for contributions under Section 35(1)(iii) of I.T Act, 1961

As on As on 01.04.2013 2013-2014 31.03.2014 Rs. Rs. Rs.

Contributions 45675000 - 45675000 Return on investments 35077833 4,539,235.00 39617068 Others 1100 - 1100

Total 80753933 4,539,235.00 85293168

Utilisation 21913214 - 21913214 Investments 48580000 - 48580000 Accrued interest 631683 - 631683 Bank balance 9629036 - 9629036

Total 80753933 4103030 80753933

96 MADRAS SCHOOL OF ECONOMICS Chennai Statement of Accounts 2013-2014

Subsidiary Accounts for contributions under Section 80G

As on As on 01.04.2013 2013-2014 31.03.2014 Rs. Rs. Rs.

Contributions 169633365 169633365 Return on investments 82892872 82892872

Total 252526237 0 252526237

Utilisation 204373553 204373553 Investments 35648000 35648000 Accrued interest 7575646 7575646 Outstanding liabilities 2736643 2736643 Bank balance 2192395 2192395

Total 252526237 0 252526237

MADRAS SCHOOL OF ECONOMICS Chennai 97