Ds from reputed Indian and foreign universities. The team is led by Dr. Isher Judge Ahluwaliareflects a rich diversity of professional background and experience.
In addition to this, India has privatized many enterprises fully state-owned, gives opportunity to foreign direct investment, and also deregulated various industries.
Where, schedule A and B incorporated all the major and basic industries, and schedule C included the other industries and the private sectors were allowed to function in this category. However, there had been global changes that took place relative to this economic system. There were reduction in trade barriers, a better atmosphere for the flow of capital between other countries, and a reduced obstruction to flow of labor, as well as technology.
Therefore, the Indian government moved with this trend and there were several reforms in the different industrial sectors in the country. Fiscal and Monetary Policy It is well known that the major reason for fiscal policy is to specifically deal more with the expenditure and taxation decisions of the Indian government.
Some of which include expenditure policy, tax policy, investment or even disinvestment techniques, and also surplus or debt management.
De, While the reason for monetary policy specifies how the Indian central bank controls the use of instruments to regulate the cost, availability, and use of credit and money.
The implications of these policies are geared toward the inferences subjected to the rigorous tests that are being practically put together. It is necessary that businesses should be a game of competition with consumers being the major beneficiaries.
The same goes for the businesses too. A competitive market will make organizations and businesses want more consumers to buy their products or services, thus, giving the lowest possible prices for all. Furthermore, they would try to improve the quality of their goods and services in order to also expand their market share.
Therefore, motivating them to make their products different from others. In addition to this, there are high possibilities of innovation amongst businesses. Each business will develop new strategies to make their business highly ranked in the marketplace.
Finally, competition also motivates businesses to try to hit the global market competition, thus making them renown and stronger out of their local market.
Major Factors Affecting a Business There are several external factors affecting a business asides financing, staff, location, and other pote ntial issues that can affect a business. There are other factors that must be taken into consideration which could go beyond a business control. Although, some businesses try to provide business disaster or recovery plan when such factors arise.
These factors include terrorism, global warming, natural calamities, economic crisis, and spreading disease. Terrorism Terrorism has been a factor affecting Indian businesses for many years ago.
An example of one of the terrorist attacks is the Mumbai attack that resulted in about people died, including the Indian citizens and other foreigners. Terrorism has so many impacts on businesses.
According to Bruno S. Frey, terrorism affects trade, insurance, foreign direct investment, defence, and macro-economy negatively. When terrorism occurs in any country, prices of goods, and services will halt, thereby leading to scarcity and inflation. Frey, Furthermore, terrorism is seen as a factor that can be lifelong lasting on a business.
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There are possibilities that some organizations or businesses that do not have a recovery plan will sink forever. This is because there is a high dependency on the monsoon.Economics (/ ɛ k ə ˈ n ɒ m ɪ k s, iː k ə-/) is the social science that studies the production, distribution, and consumption of goods and services..
Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions.
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