akash eco prjct

8/17/2019 Akash Eco Prjct

1/15

CHANAKYA NATIONAL LAW UNIVERSITY

ECONOMICS PROJECT WORK

TOPIC:-EXPANSION OF CREDIT CARD MARKET IN INDIA

SUBMITTED BY:- AKASH RAJ

ROLL:-516


2/15

ACKNOWLEDGEMENT

This is to stt! tht I "AKASH RAJ# ROLL 516$ %o&'(!t!) &* +o,th s!&!st!

'o.!%t /o0 o ECONOMICS o2 to'i% 3E4PANSION O+ CREDIT CARD

MARKET IN INDIA

This 'o.!%t /o,() h! 2ot %o&! to 2 !2) s,%%!ss,((* /itho,t th! h!(' o &2*

)isti27,ish!) 2) ,2)isti27,ish!) '!so2(iti!s8 I si2%!!(* %02o/(!)7! th! h!('

!2)!!) to &! 9* o, %,(t* o ECONOMICS# MRS8 SHIANI MOHAN

8 sh! hs h!('!) &! (ot /h!2!! I 2!!)!) 2* sot o ssist2%! 2) 7,i)2%!

!(t!) to th! to'i%8 I %02o/(!)7! th! si2%!! h!(' o o, (i9* sts 2) o, 2!t

%!2t! i2 %h7!# /ho 9* !2)!i27 &! h!(' i2 (o%ti27 ''o'it! !so,%!s to%o((!%t &t!i(s8 It is 7oo) '(to& to !%o72i;! th! h!(' 2) 7,i)2%!

,2ish!) to &! 9* &2* '!so2s I this !7)< I h!ti(* %02o/(!)7! th!i h!('

2) s,''ot !2)!!) to &!# /itho,t th! h!(' o th! 9o! &!2tio2!) '!so2(iti!s

2) &2* ,2!%o72i;!) '!o'(! this 'o.!%t /o,() 2!! 9!!2 %o&'(!t!)8

TABLE O+ CONTENT


3/15

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4/15

INTRODUCTION

Th! %!)it %) i2),st* i2 I2)i hs !7ist!!) 2 !2%o,7i27 7o/th i2 !%!2t

ti&!s# 9,t th! ,s7! 'tt!2 o %!)it %)s !&i2s 'oi2t o %o2%!2# thos! i2 th!

i2),st* s*8 S!!2 *!s 9%0# I2)i h) 9s! o o,2) i! (0h %!)it %)s8

Th!! hs 9!!2 s!!2-o() i2%!s!# /ith th! 2,&9! o %)ho()!s to,%hi27

o! > (0h8 Th!s! i7,!s 'oi2t to/)s th! %t tht th! %!)it %) i2),st* i2

I2)i is 7o/i27 t 9is0 22,( t! o > '! %!2t 2) is !'!%t!) to 7o/ t

si&i( t! i2 th! %o&i27 *!s8 This otii!s th! i!/ tht %o2s!ti!

',%hsi27 i)!s ! 7ii27 /* to th! 9i7 i2-thi278 B,t it is th! ,s9i(it* tht

is!s )o,9ts8

A%%o)i27 to s,!* 9* th! C!)it C) M27!&!2t Co2s,(t2%* "CCMC$#

1 '! %!2t o ist ti&! %!)it %) ''(i%2ts i2 th! %o,2t* h! !'!ss!) th!

2!!) o )i%! o2 ''o'it! %) s!(!%tio2 )!s'it! th! '(!tho o %)s i(9(!

i2 th! &0!t8 It hs %o&! to !(i;! (o27 !(t 2!!) o 'ot!2ti( 2) !isti27

%)ho()!s o )i%! o2 s,it9(! s!(!%tio2 o %!)it %)s8 Th! /ho(! i)!

9!hi2) th! i2to),%tio2 o th! %!)it %)s /s to i2%!s! th! ',%hsi27 %'%it*

o th! %)ho()!8 With this i2 &i2)# th! o!i72 920s (,2%h!) %!)it %)

9(it;0i!7 o2 th! I2)i2 %,sto&!8Th! i22otio2s h! (!)* 9!7,2 to sho/

th!i !!%t8 Th! St2)) Cht!!) B20 hs s!!2 its %!)it %) 9s! shoot ,'

t! th! (,2%h o its F(o9( R,'!! C) i2 M%h (st *!8It hs s!!2 th! !sh

iss,2%! o 7(o9( %) i2%!s! 9* &o! th2 o2! (0h# 2) th! 920 2o/ hs

9s! o &o! th2 h( 9i((io28 B,t th! !( %h((!27! o th! 920s is to &0! th!

ho()! s'!2) &o! o2 th! %)8 Foi27 9* !sti&t!s# I2)i hs (o27 /* to 9!

2*/h!! 2! th! &t,!) &0!ts8 Th! &0!ts (i0! th! U2it!) Stt!s 2)

E27(2) h! 2 !7! 22,( %) s'!2) o 1#> 2) >#6 )o((s

!s'!%ti!(*8Th! %!)it %) '(*!s /i(( h! to thi20 9o,t si&'(i*i27 th!

o!i72 !%h27! t2s%tio2s8 Wh!2 o2! ,s!s th! %)# it is !2ti!(* his!s'o2si9i(it* to &0! s,! tht !%h27! %o2to(s h! 9!!2 %o&'(i!) /ith8 Th!

920s tht iss,! th! %)s h! &)! it 9,2)2t(* %(! tht o2! hs to (oo0 o,t

o hi&8 It is ,'o2 hi& to i2) o,t th! %ts o !7,(to* (i!8 Th! !( 'oi2t o

/o* is th! s'!2)i27 o2 th! %!)it %)s8 A%%o)i27 to !sti&t!s# th! !7! %)

s'!2)i27 i2 I2)i is !!2 (!ss th2 tht i2 I2)o2!si8 Thos! i2 th! %!)it %)


5/15

9,si2!ss s* tht '! %'it %!)it %) s'!2)i27 i2 I2)i is 9o,t 5 )o((s #

/h!!s i2 I2)o2!si# it is 9o,t 6 )o((s8 At '!s!2t th!! ! o! )o;!2

'(*!s i2 th! %!)it %) &0!t i2 I2)i# 2) th! %t is th! o!i72 920s !

%(!(* th! (!)!s8 Th! (!)!s /i(( s,!(* 9! i)!2tii!) 9* th! i22otio2s o th!

%) ,s!s 8B,t th! (& hs 9!!2 is!) o th! 920s 9* th! i7,!s tht sho/ tht/hi(! th! !7! ,s7! i2 M(*si is = ti&!s 22,((*# i2 I2)i it is o2(* 11

ti&!s8 So&! o th! 0!* %tos i&'%ti27 th! %)s 9,si2!ss i2 I2)i ! (i&it!)

%!)it# /i)! 7!o7'hi%( s'!)# (i&it!) t!(!%o&&,2i%tio2 i2st,%t,! 2)

!&!7i27 !7,(to* %o2to(s8 Th! oth! '(*!s !!( tht th! %) %%!'t2%! 9s!

i2 I2)i hs to 9! /i)!2!)8 S,77!stio2s i2%(,)! %!)it %) ,s7! t '!to( ',&'s

2) i(/* 9oo0i27s 8Th!* (so 'oi2t o,t tht tho,7h th! %)s 9,si2!ss hs 9!!2

i2 th! %o,2t* o (o27# 9,t !!2 to)* th! i2s,2%! '!&i,& %22ot 9! 'i) 9*

%)8 Tho,7h LIC is t(0i27 9o,t th! i2to),%tio2 o this %i(it* to %,sto&!s# 9,tits t,2i27 i2to !(it* &* t0! ti&!8 Th!! is t(0 o /i)!2i27 th! %) 9,si2!ss

/ith 2!/ !t,!s# 9,t th! '!s!2t s%!2io )o!s 2ot 'i2t 'ositi! 'i%t,!# /ith

&2* (oo'ho(!s !&i2i27 to 9! '(,77!) 8O th! t/!2t* &i((io2 t'*!s i2 I2)i#

&o! th2 t!2 '! %!2t o th!& ! %)ho()!s8 Thos! i2 th! i2),st* 'oi2t o,t tht

this i7,! is 2ot 9)# %o2si)!i27 th! %t tht< th! %)s 9,si2!ss is sti(( i2 its

i2iti( st7!s8 Ho/!!# th! '(*!s !!( tht th! 9,si2!ss hs 2ot !%h!) 2

o'ti&,& (!!( to s* tht th!* ! &0i27 &o2!*8 E!2 th! (7!st '(*! i2 th!

I2)i2 &0!t )o!s 2ot sti(( h! th! !%o2o&i!s to &0! th! %) 9,si2!ss !((*

'oit9(! i2 I2)i# )!s'it! th! %t tht it hs &o! th2 o2! &i((io2 %!)it %)

ho()!s8 L!ss th2 t/o '! %!2t o 'it! %o2s,&'tio2 s'!2)i27 i2 I2)i is )o2!

o2 %)s 8Whi(! iss,i27 th! %)s &* s!!& to 9! !s*# th! %h((!27! o th! 920s

(i!s i2 9!i27 9(! to &27! th!i 'oto(ios 9* 0!!'i27 th! )!(i2?,!2%* (!!(s t

th! (o/!st8 H,7! i2!st&!2ts i2 s*st!&s 2) i2st,%t,! !# th!!o!#

2!%!ssit*8 Th! i2%!s! is 9!i27 tti9,t!) to 2!/ i)!s s,%h s o,2)-th!-%(o%0

,2%tio2i27 o %) iss,i27 920s 2) ',((i27 o,t (( sto's !!2 t (oss# to 79

si;!9(! sh! o th! !'2)i27 'i!8


6/15

origin

Th! %!)it %) 9oo& 9!72 i2 !2!st i2 th! 1G6s# /h!2 920-iss,!) %)s o&

Mst!C) 2) is 9!%&! 'o',(8 B* h2!ssi27 th! !(!%to2i% t2s%tio29i(it* o (7! 920s# Mst!C) 2) is !%(i's!) th! '!io,s(* )o&i2t!

Di2!s C(,9# %o&'2* /hi%h 'o%!ss!) t2s%tio2s i2)!'!2)!2t(*8 Mo! %%!ss

to 'o%!ssi27 s*st!&s &!2t tht %o2s,&!s %o,() ,s! %)s t &o! !ti(!s 2)

!st,2ts< th! &o! !st9(ish&!2ts tht %%!'t!) %!)it %)s# th! &o! 'o',(

th!* 9!%&!8

I2 th! 1Gs# A&!i%2 E'!ss# /hi%h /s oi7i2((* &0!t!) to 9,si2!ss'!o'(!#

2) Dis%o! 9!%&! &0!t o%!s8 Co2s,&!s %o,() 2o/ %hoos! 9!t/!!2 920-

2) sto!-iss,!) %)s# s /!(( s i2)!'!2)!2t %!)it %) %o&'2i!s (i0! A&!i%2

E'!ss 2) Dis%o!8

credi c!rd !" ! r!n"!cion!# $edi%$

Th! 'i&* ,s! o %!)it %)s to)* is s t2s%tio2( &!)i, 2ot s so,%!

o %!)it8 O! h( 2) 'o99(* s &,%h s 6 o %!)it %) ,s!s sho,() 9!%o2si)!!) 3%o2!2i!2%! ,s!s# /ho ,s! %!)it %)s 'i&i(* s t2s%tio2(

&!)i,& 2) /ho '* o th!i 9(2%!s i2 ,(( !%h &o2th8 Mo!o!# %o2!2i!2%!

,s! o %!)it %)s is isi27 &,%h st! th2 !o(i27 ,s! o %!)it %)s#

i2%!si27 = i2 o2! *! (o2!18 A%%o)i27 to !%!2t is st,)* it is (so

!sti&t!) tht 3(&ost 6 '!%!2t o tot( 920%) o(,&! 7!2!t!s 2o i2t!!st#

,' o& o,7h(* 5 '!%!2t si *!s 7o8Th! hi7h t! o %o2!2i!2%! ,s! o

1 1 (ascribing the rise in convenience to use to a growth in the number of retailers acceptingcredit cards and the popularity of co-branded cards among consumers); seealso Pozdena, supra note 4 (noting that the use of credit cards as a payment device isgrowing at a rate ofabout 1! per year and the amount of credit card debt outstanding is growing at only "!per year)#


7/15


8/15

&' c!"(

A %o2s,&! %2 ,s! %sh8 O9ti2i27 2) ,si27 %sh to i22%! t2s%tio2s hs

!* !/ 9!2!its i2 th! &o)!2 ! !(ti! to th! (t!2ti!s8 Th!! ! (so

s,9st2ti( t2s%tio2 %osts sso%it!) /ith %?,ii27 %sh# &ost 2ot9(* th!

!?,i!&!2t to %t,((* 7o to th! 920 to /ith)/ it8 A(tho,7h this %ost hs

)!%(i2!) /ith th! s'!) o ,to&ti% t!((! &%hi2!s "ATMs$# /ith)/(s o&

th! ATMs o oth! 920s !?,i!s th! '*&!2t o !!8 O!((# th! t2s%tio2

%osts o o9ti2i27 %sh t th! &7i2 &0!s %sh !(ti!(* (!ss tt%ti! th2

(t!2ti!s tht )o 2ot !?,i! this8Csh is (so ,2tt%ti! s 'i&*

t2s%tio2( &!)i,& i2 tht it !2s 2o i2t!!st /h!2 it is i2 *o, /((!t8 I2)!!)#

9!%,s! o i2(tio2# %sh %i!) i2 *o, /((!t !2s 2!7ti! t! o !t,28Csh(so hs (i&it!) ,ti(it* o %o2),%ti27 &2* t2s%tio2s8 +o i2st2%!# %sh %22ot

9! ,s!) to '* 9i((s o &0! ',%hs!s tho,7h th! &i(8 Oth! %sh t2s%tio2s

!?,i! th! %!tio2 o o&( !%!i't to &!&oi(i;! th! t2s%tio28 8 E!2 i2

1G6# 9!o! th! is! o %!)it %)s 2) !(!%to2i% %o&&!%!# %sh /s ,s!)

'i&i(* o2(* o s&(( t2s%tio2s8> L7! t2s%tio2s t tht ti&! /!!

%o2),%t!) 9* %h!%0s8

)'c(e*%e"

Ch!?,!s h! t)itio2((* s!!) s th! 'i&* t2s%tio2( &!%h2is& o

(7! %o2s,&! ',%hs!s8 O2! s,s'!%ts# ho/!!# tht this 'i&%* hs 9!!2 9*

)!,(t th!! /!! &2* t2s%tio2s o /hi%h %sh /s si&'(* 2ot i9(!

(t!2ti!# 2) h!2%! /!! %o2),%t!) 9* %h!?,!8 Th!s! i2%(,)! '*i27 9i((s 9*

&i( 2) &0i27 (7! ',%hs!s o /hi%h o2! )i) 2ot /2t to %* %sh 9(2%!s o2 o2!s '!so28

8 e enneth *# cott, *lectronic .ommerce evisited,


9/15

A7i2# ,si27 1G6 s 9!2%h&0# (tho,7h 66 o t2s%tio2s t tht ti&! /!!

%o2),%t!) 9* %sh# o! G o )o(( '*&!2ts /!! %i!) o,t 9* %h!%0s8 @

B!%,s! %h!%0s /!! hi7h!-t2s%tio2 %ost &!)i, th!* /!! ,s!) 'i&i(*

o (7!-(,! ',%hs!s tht .,stii!) ,si27 th!s! hi7h! t2s%tio2-%osts8Th!

'o9(!& /ith %h!%0s# ho/!!# is tht th!* ! ,2)&!2t((* i2 th! 2t,! o

%!)it t2s%tio285 B* /iti27 %h!%0# 2 i2)ii),( is !'!s!2ti27 tht sh! hs

s,i%i!2t ,2)s to %o! th! %h!%0 /h!2 it is )/28 Th! &!%h2t# ho/!!# hs

2o /* o %o2i&i27 this %t t th! ti&! th! %h!%0 is /itt!28 Mo!o!# !!2 i

th!! ! s,i%i!2t ,2)s t th! ti&! th! %h!%0 is /itt!2# th!! &* 2ot 9!

s,i%i!2t ,2)s t th! ti&! th! %h!%0 7o!s to th! 920 to 9! %(!!)8 As !s,(t#

&!%h2ts s,! 'ot!2ti((* (7! is0s o 2o2'*&!2t o& th! ,s! o %h!%08

41 *'&+ ./&0*+**, 4) (@+ormally, a checA is acredit transaction#B)#


10/15

+'credi c!rd"

R!%!2t )!%)!s h! s!!2 &ssi! !'2sio2 i2 th! ,s! o %!)it %)s s

t2s%tio2( &!)i,&8 So&! %o&&!2ttos h! i2%o!%t(* s%i9!) this

!'(osio2 to th! !ots o )!!7,(t!) %) iss,!s to 3',sh %!)it %)s o2

,2s,s'!%ti27 %o2s,&!s8 This 7,&!2t (%0s &!it 2) /i(( 9! )is%,ss!) i2 so&!)!ti( 9!(o/8 A &o! '(,si9(! !'(2tio2 o th! is! o %!)it %)s s

t2s%tio2( &!)i,& is th!i %o2!2i!2%! 2) th! oth! 9!2!its th!* o!8 I2

'ti%,(# %!)it %)s h! i2%!si27(* s,''(2t!) %h!%0s s th! '!!!)

&!)i,& o t2s%tio2s t)itio2((* %o2),%t!) 9* %h!%08 Th,s# it is (i0!(* tht th!

!'(osio2 i2 %o2s,&! )!&2) o %!)it %)s is th! !s,(t o tio2( %o2s,&!

%hoi%!# th! th2 i&'o'! %!)ito %tio2 8C!)it %)s o! t/o t2s%tio2(

)2t7!s o! %sh 2) %h!%0s8 +ist# ,2(i0! %sh 2) %h!%0s# %!)it %)s &0!

it ,22!%!ss* to &i2ti2 %sh !s!!s s,i%i!2t t (( ti&!s to %o! %,!2t!'!2)it,!s8 S!%o2)# %!)it %)s o! s!!( 2%i((* 9!2!its ,2i(9(! to

%sh 2) %!)it %)s8C!)it %)s 'oi)! (!i9i(it* o %o2s,&!s i2 &t%hi27

th!i i2%o&! 2) !'!2)it,! st!&s 9* ((!iti27 th! 2!!) to &i2ti2 s,i%i!2t

,2)s t (( ti&!s to %o! %,!2t !'!2)it,!s8 Rth! th2 2!%!ssitti27 2

o27oi27 &i2t!22%! o %sh 9(2%!s# %!)it %)s 2!%!ssitt! ho()i27 o2(*

!2o,7h %sh to %o! %h!%0 to '* th! %!)it %) 9i(( o2%! &o2th8 It is o2(*

/h!2 tht si27(! %h!%0 is '!s!2t!) o %(!2%! tht th! %o2s,&! &,st !2s,!

tht sh! hs s,i%i!2t ,2)s to ho2o th! %h!?,! 8Th! si&'(! %o2!2i!2%! o 9!i27

9(! to &0! ',%hs! to)* /itho,t hi27 to /o* 9o,t th! !%t &o,2t o

,2)s i(9(! &0!s %!)it %)s %o2!2i!2t t2s%tio2( &!)i,&68 Th!*

!sti&t! tht i 920 %%o,2ts ! !2i27 !( i2t!!st t! o @8= 22,((

" o %onald %# /ester, onetary Policy in the @.hecAlessB *conomy, $? =# +# $?7, $>"(17?$) (@92:he charge card allows 9its owner: to shift the burden of carrying zero-interest-bearing


11/15

"hi7h! th2 &ost &o2!* &0!t 2) 'ss9oo0 %%o,2ts to)*$# 2) %!)it %)

9(2%!s %%,! i2t!!st t 1G86 22,((* "s!!( 'oi2ts hi7h! th2 th!

'!i(i27 2o& to)*$# 2) %!)it %)s 9!7i2 to %%,! i2t!!st i&&!)it!(* /h!2

%h7!s ! &)! "/hi%h is !(* th! %s! 9!%,s! &ost %)s )o 2ot %h7!

i2t!!st ,2ti( t! th! %(os! o th! %!)it %*%(! 2) th! !2) o s,9s!?,!2t 7%!

'!io)$# %!)it %)s /o,() sti(( 9! '!)i%t!) to 9! ,s!) to i22%! 9o,t => o

%o2s,&! t2s%tio2s8 As s,77!st!)# this 2,&9! %!ti2(* ,2)!stt!s th! !(-

/o() '!%!2t7! o t2s%tio2s tio2((* i22%!) 9* %!)it %)s# s it

o!stt!s th! tt%ti!2!ss o ho()i27 &o2!* 9(2%!s# o!stt!s th! i2t!!st t!

o2 %!)it %)s# 2) ,2!(isti%((* ss,&!s tht 9(2%! 9!7i2 to %%,! i2t!!st

i&&!)it!(*8

P!h's &ost ,2)&!2t((*# %iti%s 2) !7,(tos o th! %!)it %) i2),st* &,st

0!!' i2 &i2) tht &ost %!)it %) ,s!s ! %o2!2i!2%! ,s!s8 B* o%,si27 so(!(*

o2 th! s&((! 7o,' o %!)it %) o/2!s /ho !o(! 9(2%!s# 920,'t%*

th!oists 2) 7o!2&!2t !7,(tos t,(* ! st,)*i27 th! ti(# th! th2 th! )o78

R!7,(tos &,st 9! %!ti2 tht i2 t*i27 to !7,(t! !o(i27 %!)it ,s!# th!* )o2ot i2t!!! /ith %o2!2i!2%! ,s! o %!)it %)s8

transaction balances from himself to those issuing the card for at least a month# Cith acharge card hecan reduce his demand account balance9s: # # # 9and: it is less important to waste time andeDort trying tominimize them#B)

? ederal .redit 6nion v# elancon


12/15

CONCLUSION

Th! &i2 9!2!it to !%h %,sto&! is %o2!2i!2%!8 Co&'!) to )!9it %)s 2)

%h!%0s# %!)it %) ((o/s s&(( shot-t!& (o2s to 9! ?,i%0(* &)! to

%,sto&! /ho 2!!) 2ot %(%,(t! 9(2%! !&i2i27 9!o! !!* t2s%tio2#

'oi)!) th! tot( %h7!s )o 2ot !%!!) th! &i&,& %!)it (i2! o th! %)8

C!)it %)s (so 'oi)! &o! ,) 'ot!%tio2 th2 )!9it %)s8 +o &!%h2ts#

%!)it %) t2s%tio2 is ot!2 &o! s!%,! th2 oth! o&s o '*&!2t# s,%h s

%h!%0s# 9!%,s! th! iss,i27 920 %o&&its to '* th! &!%h2t th! &o&!2t th!

t2s%tio2 is ,thoi;!)# !7)(!ss o /h!th! th! %o2s,&! )!,(t so2 th! %!)it

%) '*&!2t "!%!'t o (!7iti&t! )is',t!s# /hi%h ! )is%,ss!) 9!(o/# 2) %2

!s,(t i2 %h7!s 9%0 to th! &!%h2t$8 I2 &ost %s!s# %)s ! !!2 &o! s!%,!

th2 %sh# 9!%,s! th!* )is%o,7! th!t 9* th! &!%h2ts !&'(o*!!s 2) !),%!

th! &o,2t o %sh o2 th! '!&is!s8 B,t th! !( %h((!27! o th! 920s is to &0!

th! ho()! s'!2) &o! o2 th! %)8 Foi27 9* !sti&t!s# I2)i hs (o27 /* to 9!

2*/h!! 2! th! &t,!) &0!ts8 Th! &0!ts (i0! th! U2it!) Stt!s 2)

E27(2) h! 2 !7! 22,( %) s'!2) o 1#> 2) >6 )o((s

!s'!%ti!(*8Th! %!)it %) '(*!s /i(( h! to thi20 9o,t si&'(i*i27 th!

o!i72 !%h27! t2s%tio2s8 Wh!2 o2! ,s!s th! %)# it is !2ti!(* his

!s'o2si9i(it* to &0! s,! tht !%h27! %o2to(s h! 9!!2 %o&'(i!) /ith8 Th!

920s tht iss,! th! %)s h! &)! it 9,2)2t(* %(! tht o2! hs to (oo0 o,t

o hi&8 It is ,'o2 hi& toi2) o,t th! %ts o !7,(to* (i!8 Th! !( 'oi2t o

/o* is th! s'!2)i27 o2 th! %!)it %)s8 A%%o)i27 to !sti&t!s# th! !7! %)


13/15

s'!2)i27 i2 I2)i is !!2 (!ss th2 tht i2 I2)o2!si8 Thos! i2 th! %!)it %)

9,si2!ss s* tht '! %'it %!)it %) s'!2)i27 i2 I2)i is 9o,t i! h,2)!)

)o((s "Rs =1#5$# /h!!s i2 I2)o2!si# it is 9o,t 6 )o((s "Rs =G#15@$8 At

'!s!2t th!! ! o! )o;!2 '(*!s i2 th! %!)it %) &0!t i2 I2)i# 2) th!

%t is th! o!i72 920s ! %(!(* th! (!)!s8 Th! (!)!s /i(( s,!(* 9!i)!2tii!) 9* th! i22otio2s o th! %) ,s!s8 B,t th! (& hs 9!!2 is!) o

th! 920s 9* th! i7,!s tht sho/ tht /hi(! th! !7! ,s7! i2 M(*si is =

ti&!s 22,((*# i2 I2)i it is o2(* 11 ti&!s8 So&! o th! 0!* %tos i&'%ti27 th!

%)s 9,si2!ss i2 I2)i ! (i&it!) %!)it# /i)! 7!o7'hi%( s'!)# (i&it!)

t!(!%o&&,2i%tio2 i2st,%t,! 2) !&!7i27 !7,(to* %o2to(s8


14/15

SCENARIO IN INDIA

I2 I2)i th! sit,tio2 is o& stis%to* to ,s! th! %!)it %)s s &!2s o

&0i27 '*&!2ts o o2(i2! ',%hs!s o th! o((o/i27 !so2s<

18Us! o %!)it %)s is 'o',( to o2(* !/ tho,s2)s o !!%,ti!s# 9,si2!ss&!2# !t% o& 9i7 %iti!s

8=8Tht 2* '!so2 ,si27 %!)it %) is (i9(! to )!%(! IT &)! &2* '!o'(!

s,!2)!i27 th!i %)s8 I2 oth! /o)s i %!)it %) is &)! th! '*&!2t

&!%h2is o2(* IT '*!s /i(( 9! !(i7i9(! to 9,* 7oo)s o2(i2!8

>8Sti(( &2* (!)i27 %!)it %) %o&'2i!s ! *!t to i2st(( th!i i2st,%t,! to

'o%!ss th! o2(i2! '*&!2ts8

@8Th!2 th!! is th! ?,!stio2 o s(!s t (/s E%h Stt! hs its o/2 t! o tst,%t,! o !%h 2) !!* %o&&o)it*8 Ho/ to %h7! t /h!2 t2s%tio2

t0!s '(%! o2(i2! 2) t /ht t! /i(( 'os! 'o9(!&s o 9i((i278

58M2* !st9(ish&!2ts )o 2ot (i0! to o! %!)it %) %i(it* ),! to th! s!i%!

%h7!s to 9! 'i) to %) %o&'2i!s8 Th!* 7!t th! '*&!2t o2(* t! %!ti2

'!io) o ti&! o2%! th! 7oo)s ! so()8 Both o th!& &0! th! 'oit &7i2 (!ss 8

As &!2tio2!) !(i!# th! ,) !(!&!2t is ''(i%9(! to I2)i (so 8I2 i!/ o ((

th!s! %tos# i2 I2)i< Us! o %!)it %)s %22ot 9! !'!%t!) to 9oost th! s(!s o o2(i2! s(!s# 'ti%,((* 9,si2!ss to %,sto&!


15/15

Bi9(io7'h*

Boo0s:-

18M0!ti27 &27!&!2t: Phi(i' Kot(!

=8+i22%i( M27!&!2t: Kh2 .i2

>8B,si2!ss Sttisti%s: K8K8Kh22 J7.it Si27

O2(i2! so,%!s:-

Stt!7i% &0!ti27 &7;i2!8%o&I2)i i2o(i2!8%o&

I2)iti&!s8%o&

akash eco prjct

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