Topic -1

GST IN INDIA AND ITS IMPACT ON ECONOMIC GROWTH

Traditionally India's tax regime relied heavily on indirect taxes. Revenue from indirect taxes
was the major source of tax revenue till tax reforms were undertaken during nineties. The major
argument put forth for heavy reliance on indirect taxes was that the India's majority of
population was poor and thus widening base of direct taxes had inherent limitations. But the
Indian system of indirect taxation is characterized by cascading, distorting tax on production
of goods and services which leads to hampering productivity and slower economic growth.
There are endless taxes in present system few levied by Centre and rest levied by state, to
remove this multiplicity of taxes and reducing the burden of the tax payer a simple tax is
required and that is Goods and Service Tax (GST). This paper throws an insight into the Goods
and Service Tax concept, advantages, disadvantages and international scenario.

KEY WORDS: GST in India, Goods and service tax, models of GST, Indirect tax.
RESEARCH ISSUES/ GAPS

 Technical jargons to understand GST by Indian traders.

 Problem faced by the government of India during the implementation of GST
 Ultimate consumer benefit from GST.

RESEARCH PROBLEM
The concept of Goods and Service Tax (GST) is the biggest tax reform in decades throughout
the world, but it seems that India is taking very slow steps to meet target. The research
intends to focus on understanding concept goods and service tax and its impact on Indian
economy.
RESEARCH OBJECTIVES

 To compare the pre and post impact of GST on Indian Economy.

 To identify the benefits and Challenges after the implementation of GST in India.
 To study the past literature related to GST and identify the research gaps in this field
for enabling further research.
 To study the inexplicit opinions among the manufacturers, traders and society about
the Goods and Service Tax (GST)

RESEARCH METHODOLOGY
For conducting the research the researchers will use exploratory research technique based
on past literature from respective journals, annual reports, newspapers and magazines
covering wide collection of academic literature on Goods and Service Tax. According to the
objectives of the study the research design will be descriptive in nature. Available secondary
data was extensively used for the study.
 Topic-2
“An Analytical Study on Foreign Direct Investment (FDI) and Its Relative Impact on
Indian Economy

Abstract
In present global competitive economic circumstances no country in the world is self sufficient
and self reliance. Most of them largely depend on other nations in some way. Advance
economy with surplus reserves want to integrate other nations who have minerals reserves and
skilled labours. Emerging economy in hope to become self sufficient requires fund for their
economical promotion and consolidation, undeveloped economies requires funds for their
survival. Thus financial integration through FDI played paramount role and accelerate the
respective economies. With growing globalisation most of the Asian nations have welcomed
the FDI and witness surge in its inflow. India with conservative approach to globalisation has
been found latecomer to the FDI. Its overall market potential, cheep skilled workforce with
mineral reserves and safe marine routes along with liberalised policy regime sustained its
attraction as a most preferred destination for foreign investors. Thus, the government to attract
more FDI re-amended its policy in 2015 – 16 and took several policy initiatives. Considering
all economical aspects important for nation integrated growth and overall development this
study has been undertaken by the author’s to examine and evaluate the impact of amendments
and policy initiatives on nation’s economy. For the study over all data and sector wise data on
FDI from 2011to 2016 has been taken. The collected data has been simply analysed and
interpreted, in last conclusion and recommendation has been given. Jel Code: F31, F33, F36,
F38, F43, F62, E41, E42, E44, E5, 1E52, E62, F01, F02, H21, H24, H25
Key words: FDI, Economic Growth, Economic integration, Sectorial Growth

RESEARCH OBJECTIVE AND METHODOLOGY

Objective of study

The core objective of the study is to examine and evaluate the recent amendment and
policy initiatives in FDI and its overall impact and contribution on nation’s economic
growth. In addition, for better future and overall growth and development of nation’s
economy will suggest rational and strategic approach to increase FDI inflow which can
leverage nation’s GDP and long term growth.

Methodology

The present study is exclusively based on secondary data and is carried out to examine
and evaluate the impact of FDI on Nations economic growth. For the purpose of study
secondary data and reports are been used, which are collected from published reports of
nations premier economical and commercial institutions, magazines, RBI annual report,
DIPP reports and notifications, research articles and financial institutions websites. After
judicious evaluation of FDI and strategic relationship between FDI and economic growth
suggestions and recommendations are made. The outcome of the study depends on the selected
period by the researchers which may differ from other analysis

Topic -3

Foreign Direct Investment and Growth: Does the Sector Matter?

Abstract

Although it may seem natural to argue that foreign direct investment (FDI) can convey great
advantages to host countries, this paper shows that the benefits of FDI vary greatly across
sectors by examining the effect of foreign direct investment on growth in the primary,
manufacturing, and services sectors. An empirical analysis using cross-country data for the
period 1981-1999 suggests that total FDI exerts an ambiguous effect on growth. Foreign direct
investments in the primary sector, however, tend to have a negative effect on growth, while
investment in manufacturing a positive one. Evidence from the service sector is ambiguous.
Key words: Foreign Direct Investment, economic growth, primary sector, manufacturing
sector, service sector, spillovers.
Research Data
It is difficult to construct accurate and comparable measures of FDI data by sector for a broad
cross-section of countries over several decades, particularly for developing countries.
Moreover, the tendency of major sources to present FDI data in broad aggregates limits the
study of the effects of FDI in the host economies. In order to overcome these difficulties, I
collected data from different sources. Detailed information on FDI by sector for OECD
countries is available in OECD’s International Direct Investment Statistics Yearbook (2001).
Data on inflows by sector are available for OECD countries, in most cases, ranging from the
mid-1980s to the very late 1990s. For the rest of the countries in the sample, we complemented
the OECD data with information obtained from the World Investment Report seven volume
series published between 1993 and 2000 by UNCTAD, each volume of which contains FDI
information for countries from different regions (e.g., Asia and the Pacific, Africa, Latin
America, and the Caribbean, etc.). The main difficulty with these data is that their availability
and presentation evolve from volume to volume. Only the latest volume contains information
comparable in level of detail to the OECD data that cover the period from 1981 to 1999.
Appendix 1 describes in detail the data and sources, as well as the years covered for each
country in each data set.
The per capita growth rate of output was measured as the growth of real per capita GDP in
constant dollars using data from the World Bank’s World Development Indicators (WDI)
(2001). Inflation, measured as the percentage of change in the GDP deflator and used as a proxy
for macroeconomic stability, was taken from WDI (2001) as well. In order to capture
institutional quality and stability, I used data from the International Country Risk Guide
(ICRG), a monthly publication of Political Risk Services that reports data on risk of
expropriation, level of corruption, rule of law, and bureaucratic quality in an economy.
Openness to international trade was proxied by the average of the sum of exports plus imports
to total output (GDP), also from WDI (2001).
Topic -4
China’s Rise and Its Implications for the Global Economy
Since 1978, the world has been witnessing China’s formidable growth at an average growth
yearly rate of about 10%. Even when the world economy was affected by the global economic
financial crisis, China’s economy grew 9-10% per year. The objective of this study is to provide
a complex view of the Chinese economic growth and to identify the effects of this growth on
the world economy. To that effect, this paper is structured in two parts. In the first part, we
analysed the evolution of the Chinese economic growth and the drivers of this spectacular
growth. In the second part, we identified and analysed the implications of this growth for the
global economy. To achieve our objective, we used the method of documentary research.
Key words: China, economic growth, implications, world economy

Research Objectives
 Topic- 5
A Study on Impact of GST on Indian Economy

Abstract: -
Goods and Service Tax is an indirect tax levied on the supply of goods and services. GST Law
has replaced many indirect tax laws that previously existed in India.GST is one indirect tax for
the entire country. There are 3 taxes applicable under GST: CGST, SGST & IGST. GST will
mainly remove the Cascading effect on the sale of goods and services. Removal of cascading
effect will directly impact the cost of goods. This paper gives an understanding about GST in
India & its impact on the Indian Economy. The Evolution of GST in India is also discussed in
this research paper. The research objectives focus around the evolution of GST, how it works
& how different sectors are affected by GST.
Keywords: GST, Goods and services tax, Dual GST, Indian economy and value added tax.

OBJECTIVES OF STUDY
1. To study about Goods and Service Tax and its impact on the economy.
2. To compare GST in India & other countries of world.
DATA COLLECTION
This paper is a descriptive paper based on secondary and primary data collected from different
books, news-paper articles and research journals. The data collected will be analysed by
applying statistical tools like Correlation and regression.
 Topic-6
Demonetization: Effects on Indian Economy

ABSTRACT

Demonetisation did last year on 8th November 2016 perhaps was the single most decision
after independence that affected every single person of India is it a politician,
businessman, bureaucrat, labourer, housewife, child, etc. Demonetisation done by our
honourable Prime Minister Narendra Modi last year was with a very good intention to reduce
corruption and black money from the economy, bring transparency and greater
formalization in the economy. This single most decision shook the economy for a while,
and everybody debated on its impact on Indian economy, business and different sectors of the
economy. Now the economy has come out of that sudden jerk of cash crunch and trying to be
stabilized, so it is a pretty good time to have a look at the effects of this demonetization on
our economy. Though it will take at least 5-6 years to get the complete results of this
demonetization some short-term effects are quite visible. This paper is an attempt to find
out these short-term impacts of demonetization on Indian Economy both positive and
negative. This study adopts a descriptive, analytical approach based on secondary data
to find out these positive and negative effects of this demonetization on Indian economy
in last one year.

Keywords: Demonetization; Indian Economy; Effects, Positive Effects, Negative effects

Objectives of the Study

1. To analyse and find out whether government objectives of demonetization has been
fulfilled.
2. To find out other positive and negative impacts of demonetization of Indian
Economy.
3. To suggest measures to reduce negative and positive impacts and increase positive
effects.
Research Methodology
The current study is descriptive in nature . It uses descriptive analytical approach based on
authentic secondary data taken from various government reports, newspapers, websites ,
research papers and journals.
 Topic-7

Influence of Human Resource Management Practices on Employee Retention in

Research Institutes in India (with special reference to NCR-Delhi)

Abstract: Employee retention has become an increasingly significant concern for just about every
organization as new economy companies lure talent and as technical skills are in increasingly in short
supply. Research institutes in India are putting in place measures which can create a work environment
that engages employees in the long term however they have to contend with the dynamic and
competitive external environment in which they operate. This study sought to examine the influence of
human resource management practices specifically employee selection and training and development
with management style as a moderating variable on employee retention in research institutes in India.
The study adopted both descriptive and correlational research designs. Data was collected using self-
administered questionnaires and data will be analysed by use of descriptive and inferential statistics
using Predictive Analytics Software (PASW) version 23 formerly statistical package for social sciences
(SPSS). Research findings were presented using percentages, regression model summary and beta
coefficient tables. The study found that training and development had a significant positive influence
on employee retention whereas employee selection had a significant negative influence on employee
retention in research institutes in Kenya at 0.05 level of significance. The research also found that the
moderating effect of management style was insignificant on the relationship between the selected
human resource management practices and employee retention at 0.05 level of significance. The study
recommends the need to improve these human resource management practices through effective
communication and consistency in implementation of their policies and procedures, active participation
of relevant actors and provision of prompt feedback as regards to these human resource management
practices.

Keywords: Human resource management, Employee selection, Training and development,

Management style and employee retention.

OBJECTIVES

The general objective of this study was to examine the influence of human resource management
practices on employee retention in research institutes in India.

The specific objectives of the study were:

i. To examine the influence of employee selection on employee retention in research institutes in India
ii. To establish the influence of training and development on employee retention in research institutes
in India iii. To establish the moderating effect of management style on the relationship between
human resource management practices and employee retention in research institutes in India

RESEARCH METHODOLOGY

This study adopted descriptive and correlational research design which is was found to be appropriate
in assessing the relationships among variables since the population of interest was drawn from different
research institutes. The target population included middle and senior management employees working
in Nairobi and Kisumu counties and their environs of research institutes formed under the Science,
Technology and Innovation Act, CAP 250 (repealed). Stratified random sampling technique was used
to draw a sample from all the employees who were in the scientific, technical and professional support
categories of staff. A sample of 303 employees was randomly selected which represented 22% of the
target population. The researcher used self-administered questionnaires to collect primary data while
secondary data was gathered from available literature. The questionnaire was pre-tested in one of the
research institutes that was an outlier. Quantitative data was analysed using Predictive Analytics
Software (PASW) version 23 formerly Statistical package for social sciences (SPSS) and presented
using percentages, correlational tables and regression tables.

Topic -8

Modelling and Forecasting Foreign Direct Investments in India

For a developing country like India, FDI can be an important source of finance, and it can
contribute richly to the economy by transferring superior managerial skills and state- of- the-
art technology into the country. Ever since India undertook economic reforms in 1991, it has
been one of the largest recipients of FDI in the world, making it a country of huge opportunities.
This paper attempted to forecast FDI in India from 2014 to 2020 using univariate ARIMA
modelling. Since FDI can have an impact on other macroeconomic variables such as GDP and
exports, an accurate forecasting can be valuable for policy making. Applying the Box- Jenkins
methodology, the process of model identification, estimation, diagnosis, and forecasting were
undertaken. As many as eight different ARIMA models were estimated from which one was
short-listed after an iterative process. Several accuracy tests were used and after confirmation
of white noise in residuals, that model was eventually selected, which had the least forecasting
error and biasness. ARIMA Model (1,1,1) was found to be most suitable and provided the
tightest fit to the data.

Keywords: foreign direct investment, ARIMA, forecasting, Box Jenkins methodology

Data and Methodology

Data

In this research, an endeavour has been made to forecast FDI inflows in India from 2014- 2020.
Data for FDI inflows has been sourced from UNCTAD Stat and has been shown in the Table 1.
The data collected covers the time period from 1991 to 2013. This time period was considered
suitable because India experienced structural breaks in 1990-91 due to opening up of the economy,
and using data prior to 1991 would have led to an inaccurate modelling. The data was transformed
into natural logarithm for time series processing. Data processing was carried out in the
econometric package EViews 7.

Methodology

This paper uses the univariate ARIMA modelling by applying the Box- Jenkins approach for forecasting
FDI inflows in India. The ARIMA model does not involve the construction of an equation, but uses the
probabilistic or stochastic properties of economic time series on their own under the philosophy 'let
the data speak for itself'. Unlike the regression models in which Y is explained by k regressors X , X ,
X , ...... X , the Box- Jenkins type time t 1 2 3 series models allow Y to be explained by past or lagged
values, values of Y itself, and stochastic error terms.
 Topic -9

INNOVATION AND ECONOMIC GROWTH: A CASE OF INDIA

PURPOSE

Innovation is often seen as one of a driving force for a sustainable long term economic growth
of any country. Indian economy is one of the fastest growing economies in this modern
globalization world. Indian economy is enjoying the average economic growth of 7% from last
two decades, but is this economic growth sustainable or only some short-term phenomena
because of increasing consumer market, and increasing information sector. To achieve long-
term sustainable growth Innovation is very important. The purpose of this paper is to discover
the role of innovation in the economic growth of India.

METHODOLOGY

This paper defines innovation that includes both production of innovative goods and services,
and the innovative process of producing goods and services. World Bank’s data bank is the
primary source of this study. Time series data has been used to study the variables. In this study
to understand the economic growth, GDP growth Rate, GDP per capita growth Rate, and for
Innovation R&D Expenditure, Education Spending rate, and Patent applications variables have
been used.

Topic-10

HUMAN CAPITAL AND ECONOMIC GROWTH IN INDIA

Abstract
A countries economic growth depends on many factors like Natural resources, human
resources, physical capital, technological development, and social and political factors. This
paper is investing the role of human capital in the economic growth of India. This study
investigates the relationship between the human capital and economic growth in India from -
1995 to 2014, Healthcare expenditure has been used as a proxy variable for human capital. This
research paper is based on multiple linear regression models, and neo classical Solow
production function. This study discovered that there is a strong positive relationship between
human capital and economic growth, other variable used in the study Gross capital formation,
and secondary School enrolment, also effecting the economic growth of India positively. This
study found that secondary School enrolment has the greatest impact on India’s GDP growth.
This study concludes that to achieve long-term sustained economic growth policy makers
should consider allocating the financial resources towards improving India's human capital,
which can be achieved by increased health care expenditure and more funding towards
education. India's population can be a mean of economic growth, not a hurdle.
The Data
It is very important to choose what variables should be included in the study, that represents
the effect of human capital on the economic growth of India. This study includes GDP, Health
expenditure per capita, Gross capital formation, secondary School enrolment. This study is
based on the time series data, and it is entirely secondary data which has been collected from
World Bank national accounts data, and OECD National Accounts data files. The secondary
data used for the study shall be estimated by the multiple regression analytical method.
Variables description
This study is based on multiple regression model, Where GDP (current US$) is the dependent
variable and Health expenditure per capita, PPP (constant 2011 international $), Gross capital
formation (current US$), School enrolment, secondary (% gross) are dependent variables. All
the variables are transformed in logarithm. Below is the list of all the variable description
The Hypothesis
This study tests the null and the alternative hypothesis that is stated below:
Ho: There is no significant relationship between Human capital and economic growth in India.
Ha: There is a significant relationship between Human capital and economic growth in India.