Browsing by Subject "Industry"

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Open Access
Contradiction and Negotiation: New Economic Policy and Industrial Policy Transition in West Bengal, 1987 – 2000
(University of North Bengal, 2022-03) Das, Abhinandan
India’s transition in 1991 to a regime of ‘structural adjustment’ is a watershed in the post-independence Indian economy. As an effect of this New Economic Policy (NEP), the traditional and indigenous industries were exposed to a severe crisis. In West Bengal, the impact of NEP onslaught was greater. In West Bengal the situation became even worse in respect of the industries, both in the private and public sectors, which had already started becoming sick for various reasons, including lack of investment, old machineries, managerial inefficiency and lack of ability to withstand competition in the market. Initially, the NEP faced massive mass opposition mobilised by the left-wing parties, but later the Left Front government adopted its own policy to revive the stagnating industrial condition of the state. This article attempts to analyse this policy transition and its impact on industries in West Bengal from 1987-2000.
Open Access
Emerging dimensions of cash management in industry with special reference to the industrial units located in North Bengal
(University of North Bengal, 2023) Prasad, Pawan; Roy, Dipen
Cash management is of paramount importance for the systematic running of all operational activities and the survival of a business firm. The study was undertaken to examine how the industrial units in North Bengal are undertaking this important task to ensure the survival and growth of their businesses. Given the weak industrial infrastructure and culture, the industrial units have the compulsion to apply prudent methods of cash management. This paper examined the convergence and divergence of receipts and payments. Pointing to the great divergence, the study recommends synchronization of receipts with payments without creating pressure on the finances of the company. The study used panel data analysis to explore the motives behind cash holdings. The findings from data analysis show that precautionary motives play the dominant role behind excessive cash holdings. Besides, the precautionary motive, the transaction motive is also playing a significant role in determining the cash holdings of the firms. The study also reflected that the percentage of cash holdings of the sample firms is, more or less, similar to Indian manufacturing firms. The introduction of electronic payment systems, the adoption of information technology, and innovations in the banking system are emerging dimensions that greatly influence cash management. Handling of physical currency and maintaining cash in hand are gradually reducing. The data revealed that doing transactions using physical currency has now reduced to ten per cent of total transactions. It means that soon cash management will be routed via bank accounts, which is likely to make a cashier and Cash Book almost obsolete. The study added recommendations for better synchronization of receipts and payments with the use of cash Budgets so that a payment failure as well as excessive cash holdings can be avoided. It will help to reduce the risk, hence the need for holding cash for precautionary needs.