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,...