Books published by New Century Publications

India has a rich diversity of digital payment options. Due to steps taken by the Reserve Bank of India (RBI) to encourage electronic transactions, paper-based systems (cheque, demand draft, bankers cheque, payment order, travellers cheque, interest warrant, dividend warrants, and money order) now constitute a miniscule portion of retail payments. The number of clearing houses has also declined. Card-based electronic payment systems are well-understood at the global and national level, and find acceptance at stores, as well as for online payments. Cards are usually issued by banks and can be classified on the basis of their issuance, usage and payment by the card holder. There are three types of cards: (a) pre-paid cards, (b) debit cards and (c) credit cards. In recent years, non-card electronic payment systems have become very popular. These have, inter alia, included: (a) real time gross settlement (RTGS), (b) national electronic funds transfer (NEFT), (c) electronic clearing services (ECS), (d) immediate payment services (IMPS), (e) unified payments interface (UPI), (f) unstructured supplementary service data (USSD), (g) Aadhaar-enabled payment system (AEPS), and (h) Bharat interface for money (BHIM). Cyber space is vulnerable to a wide variety of incidents, whether intentional or accidental, man-made or natural, and the data exchanged in the cyber space can be exploited for nefarious purposes by both nation-states and non-state actors. Cyber attacks and threats are faced by individuals, businesses and governments. These can take the following forms: (a) phishing, (b) hacking, (c) scamming, (d) sniffing, (e) spoofing and (f) denial of service attack. The only way to protect ourselves from such activities is to be vigilant about our data and protect the data from getting into the hands of scamsters and fraudsters. This book is an informative and descriptive document on the subject of digital banking and cyber security concerns.

As per the Annual Report, 2018-19 of the Ministry of Micro, Small and Medium Enterprises, Government of India, there were 633.88 lakh micro, small and medium enterprises (MSMEs) in the country engaged in different economic activities. Total employment in the MSMEs sector is estimated to be 1,109 lakh, and their contribution to gross domestic product (GDP) is pegged at 28.9 percent. In the wake of COVID-19, it was a particularly challenging time for MSMEs, many of which were on the brink of closing down their operations. Sensing the gravity of the situation, Prime Minister Narendra Modi announced on May 12, 2020, the Aatmanirbhar Bharat Abhiyan (Self-reliant India Initiative) which combined relief, policy reforms and fiscal and monetary measures to help businesses and individuals cope up with the situation created by COVID-19 pandemic. A mega package of ` 20 lakh crore (10 percent of the GDP) was announced for the purpose. The details of the ` 20 lakh crore package were announced by Finance Minister Nirmala Sitharaman in five tranches during the next five consecutive days. All the measures were aimed at spurring investment and buffering the economy against the Covid pandemic shock. In a bid to make MSMEs sector of the economy survive, the Finance Minister in her first tranche of the stimulus, announced on May 13, 2020, laid out specific boosters that could offer some relief to this hard-hit sector. The nearly ` 6 lakh crore tranche, included ` 3 lakh crore collateral-free automatic loans for MSMEs. Furthermore, from July 1, 2020, a new classification of MSMEs with liberalized definitions is in place. This book provides a descriptive and analytical account of the functioning of MSMEs in India. It discusses at length their role in the Indian economy, policies and programmes of the Government to promote them, and the problems faced by them.

Public-private-partnership (PPP) is a mode of providing public infrastructure and services by the government in partnership with the private sector. It is a long-term arrangement between government and private sector entities for the provision of public utilities and services. In view of the investments made by private sector entities, there are risk-sharing and performance-linked payments made by the government to the private entities. PPP concessions can either be sustained by user charges collected by the concessionaire or through annuity payments made by the government. In case annuity payments are made, they are typically borne by the government out of the annual budgetary allocations spread over time and are essentially in the nature of deferred budgetary payments. This book explains and examines comprehensively the role, design, structure, and execution of PPP projects in the course of economic development of a country. It addresses a range of matters associated with PPPs from policy considerations to implementation issues. The book is spread over 15 chapters which have been organized into 2 parts. Part I (chapters 1 to 7) is devoted to theoretical issues involved in using PPP as a tool of project financing and hence economic development. Part II (chapters 8 to 15) explains and examines the role of PPP in various sectors of the Indian economy such as energy sector, transport sector, telecommunications and information technology (IT), urban infrastructure and services, and healthcare services. An appendix, bibliography and index also form part of the book. The book is meant for a cross-section of readers interested in understanding the design and execution of PPP strategies and projects in the context of development finance.

Poor project management and execution leads to considerable wastage of resources on the part of business enterprises. This indicates the need for a systematic study of project management techniques. Knowledge, skills, experience, leadership and competencies of a project manager impact the success of a project. Learning project management from macro management point of view can increase the success rate of a project. This book provides insights into various concepts, definitions, research findings, industry best practices, tools and techniques for project management and scope for further research. In short, it is intended to provide systematically arranged authentic information on managerial dimensions of project management. The book is organized into 3 parts: Part I (chapters 1 to 6) is titled Strategy and Project Management. Apart from introduction to managerial aspects of project management, it covers topics such as basics of project strategy, characteristics of content development projects, nature of work of a global manager, role of conflicts in top management teams, and a case study of Tata Group. Part II (chapters 7 to 13) is titled Project Management Research. It deals with such topics as project success requirements, success factors for software projects, conflict management techniques, lessons from Bhagavad Gita in project management, success factors for offshore software development projects, scientific versus social science research methodology, and research in management. Part III (chapters 14 to 20) is titled People Aspects in Project Management. It is devoted to explanation and examination of different dimensions of teams, performance of software development teams, recruitment strategies of Indian IT firms, software programmers, software organizations, and project stakeholders and technology.

Skill development is important because it enhances productivity at the individual, industry and national levels. In India, skill formation is broadly ensured through general educationconsidered as a provider of generic skills. Other than general education, skill formation efforts consist of vocational education and training and sector-specific programmes for better employability in industry. National Policy for Skill Development and Entrepreneurship, 2015 aims to bring the world of education and training closer to the world of work to build a strong India. It provides clarity and coherence on how skill development efforts across the country can be aligned within the existing institutional arrangements. The Policy links skill development to improved employability and productivity. India had declared 2010-20 as the Decade of Innovation. The Government has stressed the need to enunciate a policy to synergize science, technology and innovation and has also established the National Innovation Council (NInC). Entrepreneurship is the quality of being an entrepreneur, i.e. one who undertakes an enterprise. The term puts emphasis on the risk and effort taken by individuals who own and manage a business. This book provides a comprehensive account of policies and programmes for skill development, innovations and entrepreneurship in India. It is spread over 16 chapters which have been organized into 3 theme parts. Part I (chapters 1 to 8) is devoted to policies and programmes for skill development in India. Part II (chapters 9 to 13) covers promotion of science, technology and innovations. Part III (chapters 14 to 16) deals with entrepreneurship development.

Environmental economics is a branch of economics which deals with the inter-relationships between environment and development. Economic activities of human beings have a profound impact on natural environment. Hence, use/abuse of natural resources has raised many moral, legal and practical questions for present and future generations. Presently, many governments require cost-benefit analysis of policy options with regard to changes in environmental legislations by resetting environmental standards and introducing new policy instruments for environmental protection. Environmental economics has also made significant contributions to valuation techniques and design of new policy instruments for pollution control and management. This book provides a comprehensive description of current environmental problems facing the world and their solutions through economic institutions, economic incentives and other instruments and policies. In other words, the book focuses on international environmental problems and how economic principles can be applied to solve them. The book contains 22 chapters which have been organized into 6 theme parts. Part I (chapters 1 to 6) is titled Introduction to Environmental Economics. It provides conceptual and analytical clarity as regards environmental economics, protection of biological diversity, forests and environment, environmental pollution, principles of microeconomics and theories of welfare economics. Part II (chapters 7 and 8) is titled Theory of Externalities. It explains the concepts of externalities, failure of market, Pareto optimality, property rights, and Coase theorem. Part III (chapters 9 to 12) is titled Design and Implementation of Environmental Policy. It discusses Pigouvian taxes, effluent fees, tradable permits, choice between taxes and quotas, and implementation of environment policy. Part IV (chapters 13 to 17) is titled International Environmental Problems. It covers trans-boundary environmental problems, global climate change and the Paris Agreement (and the subsequent US withdrawal), climate change and India, and trade and environment. Part V (chapters 18 and 19) is titled Measuring Benefits of Environmental Improvements. It delves into non-market values and measurement methods, and risk assessment and perception. Part VI (chapters 20 to 22) is titled Sustainable Development. It deals with the concept and measurement of sustainable development, development framework for mining sector, and disaster mitigation and management. The book also contains a glossary of terms related to environment and ecology.

The objective of publishing this dossier is to ensure that we have a guideline in place as a part of our Post-COVID readiness for the University to function. The guideline has been prepared bearing in mind the fact that if the situations that we live in grow adverse or remain unviable, REVA is future-ready and prepared to face any challenge. Hence, the book that started as a dossier, also carries an insight into the COVID time challenges that REVA University faced undauntingly. The REVA team worked almost magically, covering the syllabus, extended remote support, with consistent and planned remote instruction, online support for counselling and also online assessments and evaluation leading to results being released timely. The book traverses through the last few months chronicling each stage of the University during these difficult times, in the form of captured images, anecdotes, student testimonials and also detailed notes for deeper understanding of the process in most sections. Placement, skill development, employment engagement programmes, webinars, international conferences, training and support for faculty, guest talks were all part of this tapestry of revolutionary education and together REVA Reimagined Education! While guidelines are being laid by many agencies including the UN for reopening of educational institutions, care and forethought is required independently by each of us and therefore I felt the need to bring out a compiled book for our benefit, which perhaps can be a guide for others too.

Between 1950 and 1990, foreign trade of India suffered from strict bureaucratic and discretionary controls. Beginning 1991, the Government of India introduced a series of reforms to liberalise and globalise the Indian economy. Reforms in the foreign trade sector were intended to integrate Indian economy with the global economy. The major trade policy changes in the post-1991 period have included simplification of procedures, removal of quantitative restrictions, and substantial reduction in the tariff rates. Since early 1990s, Indias foreign trade has undergone a complete change in terms of composition and direction. Exports now cover a wide range of traditional and non-traditional items while imports mainly consist of capital goods, petroleum products, raw materials, and chemicals to meet the ever-increasing needs of a developing and diversifying economy. Exports have acquired added significance in the wake of liberalisation wave sweeping across the world. The trend towards market economy in almost all the countries of the world has increased the role of exports in developmental efforts. Exports have become an important indicator of a countrys economic performance. The surge in exports has provided a strong stimulus to domestic industrial growth. While software exports are a well-known success story, India is now an important venue for many tasks in services such as financial accounting, call centres, processing insurance claims, and medical transcription. The future potential for growth in these areas appears to be considerable. The process of opening up of the Indian economy has given birth to a host of new challenges and opportunities. The spirit of the liberalisation process entails a conscious effort on the part of policy makers to optimise on these opportunities-challenges trade-offs.

Money is the pivot around which an economy revolves. A modern economy, characterized by acute specialisation and exchange, is unthinkable without money, financial intermediaries, financial markets and financial instruments. In recent years, there has been a gradual switchover from the use of paper-based payment mediums to those based on electronics. E-money is one such new product which has appeared on Indian horizon recently. Crypto currency is another instrument which is a type of digital token that relies on cryptography for chaining together digital signatures of token transfers, peer-to-peer networking and decentralization. Similarly, complex financial products, such as derivatives, have proliferated in the financial markets. These products have become highly popular with banks and financial institutions as they allow them to hedge their risks and manage their regulatory and economic capital more efficiently. This book provides a comprehensive description of the theory and functioning of modern monetary and financial systems with reference to India. It is spread over 33 chapters which have been organized into 5 theme parts.Part I (chapters 1 to 2) is titled An Introduction to Money. Apart from explaining the meaning, kinds and functions of money (including e-money, digital money, virtual currency and crypto currency), it also discusses the theories of money supply determination. Part II (chapters 3 to 17) is titled Financial Institutions, Markets, Instruments and Innovations. It deals with discussion on financial system, financial institutions, financial markets and their integration, asymmetric information, adverse selection, moral hazard, financial crisis, money market in India, capital market in India, modernization of stock exchanges, depository system, and financial derivatives. Part III (chapters 18 to 21) is titled Interest Rates. It covers determination of interest rates, causes of interest rate differentials, theories of term structure of interest rates, and interest rates in India. Part IV (chapters 22 to 26) is titled Banking System. It focuses on functions of a commercial bank, balance sheet and portfolio management of a bank, structure and changing role of banks in India, banking sector reforms in India since 1991, and digital technology in the banking sector. Part V (chapters 27 to 33) is titled Central Banking and Monetary Policy. It delves into functions of central bank, balance sheet of central bank, instruments of monetary control, monetary management in an open economy, Reserve Bank of India, monetary policy of India, and inflation targeting in India.

With strong macroeconomic fundamentals, the Indian economy was well-placed on trajectory of high growth rate in early 2020 when outbreak of coronavirus epidemic in China was reported. On 11 March 2020, the World Health Organization (WHO) declared the epidemic as a pandemic, plunging the world into an unprecedented medical crisis. When countrywide lockdown was announced from 25 March 2020, most of the economic activities came to a grinding halt in urban areas. However, rural India continued to be normal in view of the exemption from restrictions allowed to farmers to conduct farming operations, including harvesting and transporting their produce to grain markets with the general conditions of face covering, hand hygiene and social distancing. These exemptions helped to maintain continuity in supply chain, especially in view of harvesting and sowing season. To deal with the economic challenges caused by the pandemic, Prime Minister Narendra Modi announced the creation of COVID-19 Economic Response Task Force under the Union Finance Minister. Similarly, PM CARES Fund was created to deal with any kind of emergency or distress situation. On 12 May 2020, the Prime Minister announced Aatmanirbhar Bharat Abhiyan (Self-reliant India Initiative) which combined relief, policy reforms and fiscal and monetary measures to help businesses and individuals to cope with the situation created by COVID-19 pandemic. A mega package of 20 lakh crore (10 percent of GDP) was announced for the purpose. India has several strengths that can help mitigate the adverse effects of COVID-induced slowdown. Agricultural sector is vibrant, inflation is under control, foreign exchange reserves (more than US$ 500 billion) are at record level, international crude oil prices are low and a robust social security net is in place. There is, therefore, a silver lining for India to bounce back and a strong case for fast-tracking the pending reforms.

Governments are big and important in modern times. People depend on their government to protect themselves against external aggression, internal disorders, pollution, epidemics, social injustice, exploitation, unemployment and poverty. Furthermore, a government is expected to: (a) provide educational, medical and housing facilities, (b) build roads, bridges and communication networks, (c) ensure personal freedom and enforcement of contracts, and (d) maintain democratic institutions and cordial relations with foreign countries. Furthermore, present day economies are complex and hence need constant monitoring on the part of the government to deal with such economic problems as inflation, recession, and deficit in the balance of payments. Hence, active participation of the government in the economic life of a country is recognised by economists the world over. Modern governments are equipped with several powers to influence the working of an economy directly and indirectly. A government may participate in economic activities directly by assuming the role of a producer, banker, transporter and distributor. It may influence production and consumption of commodities through regulatory measures during emergencies like a war. Governments can also influence the level and pattern of production and consumption indirectly through fiscal, monetary, industrial and commercial policies. Public economics is the study of government policy from the viewpoint of equity and economic efficiency. It deals with the modes of government intervention and its implications for mobilization and allocation of resources, distributive justice and economic growth in an economy. Hence, the subject involves formal analysis of taxation and public expenditure policies of the government. In addition, it also includes the study of public goods, market failures, externalities and the problem of free-riding. This book explains various aspects of public economics in simple, lucid and non-technical language. It would connect teachers and students of the subject to the basic concepts, components and processes of public economics. The book contains 30 chapters which have been organized into 2 parts. Part I (chapters 1 to 11) is titled Public Economic Theory. It provides conceptual and analytical clarity as regards fiscal policy, economics of public goods, problems and solutions of externalities, and basic principles of taxation. Part II (chapters 12 to 30) is titled Indian Public Finances. It explains and examines the tax system in India [including the recently introduced goods and services tax (GST)], theory of public expenditure, public expenditure in India, sources and management of public debt in India, government budgeting procedures and fiscal federalism in India.

The British came to India as merchants in the middle of the 17th century. After gaining foothold on the coastline, they spread to every corner of the Indian peninsula. They gained political supremacy around the middle of the 18th century. After winning the Battle of Plassey in 1757 and the Battle of Buxer in 1764, they established themselves firmly as the rulers of India and ruled it till 1947 to sub-serve their economic interests. The British rule in India can be divided into two periods: (a) the rule of the East India Company from 1757 to 1858 and (b) the rule of the British Government from 1858 to 1947. The British interests in India were governed by the requirements of the Industrial Revolution which started in Britain in the middle of the 18th century and then spread to other regions of Europe. These were two-fold: (a) to secure raw materials from India for factories in Britain and (b) to ensure permanent market in India for the British manufactures. To fulfil these objectives, they adopted measures which proved disastrous for the Indian economy. This book gives a comprehensive and vivid account of various aspects of the Indian economy during the period 1857 to 1947. It is spread over 30 chapters which have been organized into 5 theme parts. Part I (chapters 1 and 2) is titled Colonial India: Background and Introduction. Apart from providing an overview of colonial India, it also explains the state of affairs of the Indian economy on the eve of Independence in 1947. Part II (chapters 3 to 5) is titled Macroeconomic Trends. It deals with discussion on national income estimates, population trends and characteristics, and occupational structure. Part III (chapters 6 to 14) is titled Agriculture, Forests, and Famines. It is devoted to description of agrarian structure and land relations, agricultural markets and institutions, agricultural credit, agricultural commerce, agricultural technology, irrigation development, productivity of agriculture, forest policy and legislations, and famines in India. Part IV (chapters 15 to 22) is titled Railways, Industry, Infrastructure, and Labour. It covers the following topics: Growth of railways, de-industrialization debate, evolution of entrepreneurship, industrial structure, industrialization in the inter-war period, constraints to industrial breakthrough, infrastructure development, and labour laws and industrial relations. Part V (chapters 23 to 30) is titled Economy and the State. It delves into imperial priorities and the Indian economy, drain of Indian wealth, international trade during British rule, capital flows in colonial India, banking and finance, insurance business, tax structure, and evolution of fiscal federalism.

With strong macroeconomic fundamentals, Indian economy was well-placed on the trajectory of steady growth rate when the outbreak of coronavirus epidemic, emanating from China, was reported. On March 11, 2020, the World Health Organization (WHO) declared the epidemic as a pandemic. Normal economic activities around the world came to a screeching halt as governments announced lockdowns to prevent the spread of the disease. India announced a stringent nationwide lockdown from March 25, 2020. Most of the economic activities in urban areas were halted. However, rural India continued to be normal in view of the exemption from restrictions allowed to farmers to conduct farming operations, including harvesting and transporting their produce to grain markets with the general conditions of face covering, hand hygiene and social distancing. Sensing the gravity of the situation, Prime Minister Narendra Modi announced, on May 12, 2020, a ` 20 lakh crore stimulus package which was about 10 percent of countrys gross domestic product (GDP). It was named as Aatmanirbhar Bharat Abhiyan (Self-reliant India Initiative). The details of the ` 20 lakh crore package were announced by Finance Minister Nirmala Sitharaman in five tranches during the next five consecutive days. Many of the measures announced by the Government were aimed at giving relief to the poor and lower middle class and increasing the pricing power of farmers. Over the years, India has built an extensive network of social security programmes and schemes, including the flagship Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS). This book explains and examines various social security programmes and schemes of the Government of India for the benefit of vulnerable and disadvantaged sections of the society.

Relations between India and Central Asian countries are centuries old. Despite having deep historical and cultural ties, the two regions have not been very successful in establishing strong economic and trade ties. This unsatisfactory performance is attributable to a host of factors, the chief being poor logistics, transportation difficulties, and geo-political situations. Nevertheless, a good trade relationship with the Central Asian Republics is of high strategic importance for India. The countries of Central Asia have enormous amount of energy resources, which could help meet Indias ever increasing energy requirements. These countries have a huge consumer market for a range of goods and services produced in India. Therefore, Central Asia holds a very significant position in Indias foreign policy discourse. Obviously, India has made this region a significant part of its extended neighbourhood policy. Central Asia region consists of five culturally and ethnically diverse countries that have followed different paths to political and economic transformation since achieving independence from the erstwhile Soviet Union. Kazakhstan and Kyrgyzstan have, in relative terms, made strides in market reforms while Turkmenistan and Uzbekistan have not yet completed their transitions to market economies. Tajikistan represents an intermediate case. The present volume contains seven research articles authored by scholars specializing in the field of India-Central Asia relations. Their studies provide deep insights into various facets of these relations, adding immensely to the existing literature on the subject.

Indias Act East Policy has been a significant reorientation in foreign policy towards realizing Indias big power ambitions. During the initial years, the focus of the policy was on economic and diplomatic connectivity that cantered around the ASEAN. Since then, the policy has evolved to assume greater strategic dimensions with co-operation in security matters and incremental engagement with countries and regions beyond the ASEAN that include East Asia and the whole of Asia-Pacific. Indias plans to become a global power depend to a great extent on its becoming a dominant economic actor, political and strategic player and soft power attraction in East Asia and Asia-Pacific. This region is the most vibrant economic arena and crucial strategic site in international politics presently. The changing geopolitical and strategic realities increasingly necessitate a new regional security architecture in the region. Along with its efforts towards economic integration and diplomatic connectivity, India needs to carve out a role in shaping the security structure of the region to deal with issues of maritime disputes and security. This book is a collection of 7 scholarly papers that discuss various aspects and dimensions of Indias Act East Policy.

Indias historical and cultural relations with Southeast Asia have the potential to realize security and strategic purposes. The earliest sustained contact between India and Southeast Asia was through Southern and Eastern coastal states of India during the Chola and Kalinga empires. If connection through the North-Eastern states is vital for economic development of the region, integration through the Southern and Eastern coastal states of India is crucial for the promotion of larger maritime security and strategic interests. The ports and naval bases in Southern and Eastern coastal India and the strategic locations of the Bay of Bengal and Andaman and Nicobar Islands are of vital significance. Despite having one of the largest merchant fleets in the developing world, Indian ports have a limited number of direct calls with ASEAN ports. The biggest challenge for India in the region is managing its relationship with China. Chinas assertiveness in maritime territorial disputes in South China Sea and expanding presence in East Asia and the Indian Ocean has reinforced the relevance of an enhanced role for India and its Asia-Pacific partners in these regions. The present volume contains 8 scholarly papers that discuss various dimensions of Indias foreign policy in Southeast Asia.

Acquired Immune Deficiency Syndrome (AIDS) is a disease caused by a virus named Human Immunodeficiency Virus (HIV). The disease is characterized by immunosuppression which leads to a spectrum of clinical manifestations that include opportunistic infections, secondary neoplasms, and neurologic manifestations. The clinical features of HIV infection range from asymptomatic infection to severe clinical illness and AIDS. HIV/AIDS in India came into public view in 1986 with detection of first few cases of HIV in Chennai and first AIDS case in Mumbai in 1987. The current scenario in the country is alarming and the situation is grim though the overall prevalence of the disease is still low as compared to many other countries in South East Asia. HIV/AIDS is a major concern and has only recently attracted the attention of psycho-social research. Knowledge of effective ways of coping with HIV is critical to help individuals with HIV to maintain the best possible psychological and physical well-being. HIV has huge impact on cognitive function and is also associated with depression and anxiety. However, very few studies have been conducted on the relationship between neuropsychological functioning and depression/anxiety, and the coping mechanisms. The present work is an attempt to fill this vacuum in the literature on the subject.

Mental retardation among children is a source of pain and bewilderment for many families. Children with mental retardation add stress to the family system, but this stress could result in negative or positive adaptation. Just as every family faces a variety of stressors (e.g. illness or loss of job), so also families of children with retardation can be thought of as facing a stressful situation. Mental retardation may be complicated by several different physical and emotional problems. The child may also have difficulty with hearing, sight or speech. In the past, parents were often advised to institutionalize a child with significant mental retardation. Today, the goal is to help the child with mental retardation stay in the family and take part in community life. Mothers are especially influenced by the presence of a disabled child in the family as the increased demands and inconveniences associated with such a situation are still most often met by mothers. Fathers of retarded children have also been found to be depressed, to have lower self-esteem, to express a lack of interpersonal satisfaction and to undergo long-term personality changes resembling a pattern of neuroticism. But there are also findings to the contrary. Most parents with a retarded child, even if they are well adjusted, are likely to experience major psychological stress. Reactions to this stress vary considerably from person to person, but there are some common patterns. The present work is an attempt to study the psychosocial consequences on parents of mentally-challenged children.

Intellectual property rights (IPRs) refer to the legal ownership by a person or business of an invention/discovery attached to a particular product or process which protects the owner against unauthorized copying or imitation. With the emergence of the knowledge society and virtual products, the issue of safeguarding the investment in the information-based products has certainly gained high importance. Globalization and the rapid proliferation of technology have elevated the significance of intellectual property protection. The importance of IPRs has increased in recent years in the wake of rapid advancements and proliferation of technology. Intellectual property protection is a key factor for economic growth and advancement in the high technology sector. IPRs are good for business, benefit the public at large and act as catalysts for technical progress. The intangible nature of intellectual property and the worldwide inconsistency of standard practices create challenges for those wishing to protect their inventions, brands, and business methods in foreign markets. The three most common vehicles for protecting intellectual property are patents, trademarks, and copyrights. The Agreement establishing the World Trade Organization (WTO) contains, inter alia, an Agreement on Trade-related Aspects of Intellectual Property Rights (TRIPS). TRIPS Agreement, which came into effect on January 1, 1995, is presently the most comprehensive multilateral agreement on intellectual property. It provides for norms and standards in respect of various areas of intellectual property. This book contains 13 research papers, authored by experts in the field, which explain and examine various aspects of the TRIPS Agreement and the corresponding Indian laws for its implementation.

Despite the rapid spread of financial and banking system in India after Independence in 1947, a large segment of the societyparticularly low-income households in rural areashas very little access to financial services, both formal and semi-formal. As a consequence, many of them have to depend either on their own or high cost informal sources of finance, such as moneylenders. This is particularly true of the sporadic financial requirements of poor households for emergency purposes such as medical treatment. It is well-known that poor people, small entrepreneurs and other disadvantaged groups are presently excluded from the financial sector, which leads to their marginalisation and denial of opportunity to grow and prosper. Hence, financial inclusion of the disadvantaged and marginalized sections of society is a prerequisite for healthy and harmonious socio-economic development of India. Financial inclusion is the process of providing wide range of financial services and adequate credit in time to the weaker sections and low-income groups at an affordable cost. Merely having a bank account may not be a good indicator of financial inclusion. The essence of financial inclusion is to ensure that a range of appropriate financial services are available to every individual so that he/she may show his/her worth to the society. It has been widely accepted that micro finance is the most important tool of financial inclusion. Provisions of micro finance to the poor, especially women in rural areas, coupled with supporting activities like education, training and skill formation, can transform Indian economy on desired lines. Self-help groups (SHGs) represent a unique approach to financial intermediation. The approach combines access to low-cost financial services with a process of self-management and development. The present work is an attempt to emphasize the importance of financial inclusion of the poor and underlines the role of micro finance and SHGs in this endeavour.

Restructuring of the tax system has constituted a major component of fiscal reforms in India initiated since 1991. The main focus of the tax reforms has been on simplification and rationalisation of both direct and indirect taxes with the objective of augmenting revenues and removing anomalies in the tax structure. Tax reforms in recent years have brought the tax system much closer to international tax practices. In the 2016-17 Union Budget, gross tax revenue of the Government has been estimated at 16,30,888 crore. Out of this, the share of taxes on goods and services (customs, excise and service tax) is 7,83,791 crore (48.1 percent) while the remaining 8,47,097 crore (51.9 percent) is contributed by direct taxes (corporation tax and income tax). The current structure of taxes on goods and services in India is highly complex, leaky (riddled with exemptions), and characterised by complicated compliance procedures. The strategy of the Government in respect of indirect taxes is to continue the tariff reforms process towards mean Asian levels of customs tariff, convergence towards a single rate of excise duty (with some exceptions), widening of service tax base and a phased move towards a fully-integrated goods and services tax (GST). National level GST is a part of the proposed tax reforms to evolve an efficient and harmonised consumption tax system in the country. Presently, there are parallel systems of indirect taxes at the Central and State levels. Each of the systems needs to be reformed to eventually harmonise them. This book traces the evolution of taxation of goods and services (indirect taxes) in India during the post-Independence period. More importantly, it analyses the present structure of indirect taxes and the harmonisation measures undertaken by the Government in this regard. It also examines and sets forth core issues pertaining to the proposed national level GST which is expected to be rolled out in the near future.