B.Com - Notes

Concept of Globalisation :- Globalisation is a process of rapid integration or inter-connection between countries through trade, foreign direct investment, capital flow, migration, & the spread of technology. The main elements of Globalisation includes the followings : 1. Introduction of Foreign Exchange Management Act, 1999 (FEMA) :- The government of India introduced FEMA 1999 to make foreign exchange transactions easier such as obtaining of funds by Indian companies from abroad, overseas investment by Indian firms, holding of properties in India by NRIs, holding of properties by India nationals abroad. 2. Reduction in custom duties :- The government of India reduced the custom duties. The reduction in import duties has resulted in cheaper import into India. 3. Liberalisation of foreign investment :- The government of India has liberalised foreign investment which in turns has given a good boost to Indian capital market. 4. Signing of WTO Agreement :- India...

*Define human rights? What are the characteristics of human rights? Ans : (A) It is very difficult to the express “human rights”. This is because states differ in cultural background, legal systems and economic, social and political conditions. However we can say that the rights that all people have because of their humanity are human rights.Human Rights are rational beings. They possess certain basic rights. These rights are commonly known as human rights. There are the rights that no one can be deprived of without doing him great injustice. Durga Das Basu brings out the essence of human rights. He defines human rights which every individual must have against the state or other public authority by virtue of him being a member of human family, irrespective of any other consideration. (b) Characteristics of human rights: 1. For Individuals : Human rights belong to an individual because of his very existence. They are inherited by all individuals irrespective of their cast, religion,...

Concept of Privatisation :-    Privatisation is the transfer of control of ownership from public sector to private sectors. It means the conversion of property rights from the public to private owners.    The two elements of Privatisation are as follows : 1. Dereservation of public sectors :-    The dereservation of public sectors has enabled the entry of private sectors in those industries which were reserve only for public sectors. This has led to improve customers service & efficiency of the firms. At present, 3 industries has reserved for public sector are Railways, Automic energy, & Specified minirals. 2. Dis-investment of Public sector :-    Dis-investment is a process of selling government equity in PSUs (Public Sector Undertaking) to private parties. The disinvestment is undertaken to achieve good customers service, overcome polotical interference, overcome curruption in PSUs, improve efficiency of PSUs. Advantages of Privatisat...

Concept of Liberalisation :- Progressive elimination of government control over economic activities is known as "liberalisation". Liberalisation refers to freedom to business enterprises from excessive government control and they are given freedom to make their own decisions regarding production, consumption, pricing, marketing, borrowing, lending & investments. The major elements of Liberalisation in India includes the followings : 1. De-licencing of industries :-    The Industrial Policy 1991 abolished (cancelled), licencing for most industries which helped Indian companies to concentrate on productive activities. The 6 industries that required licencing are alcohol, cigarattes, industrial explosives, defence product, drugs & pharmaceuticals, hazardous chemicals, etc. 2. Liberalisation of foreign investment :-    The necessity to obtain approval for foreign investment from various government authority often caused delayed. At present FDI is...

I ntroduction :- Migration means movement or shift of people from one place to another. People move from one place to another for temprary or permanent settlement due to social,political & religious reasons. Globalisation has made migration of people easy & common. T ypes of Migration :- The following are the different types of migration :- 1 . Local Migration :- It involves movement of people from one locality to another. 2 . Regional Migration :- It involves movement of people from one region to another. 3 . Rural to Urban Migration :- It involves movement of people from rural areas to cities areas due to industrialization. 4 . Urban to Rural Migration :- It involves movement of people from urban areas to rural areas due to higher cost of urban living. 5 . Mars Migration :- It refers to the movement of large group of people from one geographical areas to another. 6 . Forced Migration :- It refers to forced movement of people away from their hom...