ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Bhupat M DesaiSubscribe to Bhupat M Desai

Determinants of Total Factor Productivity in Indian Agriculture

Past literature shows that technical change in agriculture is determined by non-price factors like government expenditure on R and D and infrastructure. But more recent literature also considers relative farm prices that would provide incentives for technical change. This has been reinforced by the present policy in the wake of reforms that reduce protection to trade and industry for advocating its prime role for technical change. This paper therefore develops a more comprehensive framework of price and non-price factors for studying this change. Among the non-price factors it separately considers government investment in R and D, inputs, credit, rural literacy, and marketing and banking infrastructure density in addition to land reforms.

Developing Agriculture in Gujarat-A Strategic Perspective for Ninth Plan

A Strategic Perspective for Ninth Plan Bhupat M Desai N V Namboodiri This paper develops a strategic perspective on agricultural development in the Ninth Plan by analysing the sector's contributions to the state's economy, its features, and its shortas well as long-run growth performance. The paper also suggests the kind of restructuring required in the new economic environment.

Whither Rural Financial Institutions

Bhupat M Desai N V Namboodiri Doubts have been raised regarding the financial viability and developmental objectives of rural financial institutions (RFls) and there have been proposals to restructure these institutions to address these concerns. This article argues against this approach as it is based on inappropriate understanding and evaluation of the viability of the RFls. Instead, the article, on the basis on recent researches and studies, makes recommendations to improve the present network of RFls.

Growth with Social Justice-Sweet Slumber or Big Leap

Growth with Social Justice Sweet Slumber or Big Leap? Bhupat M Desai V S VYAS and Pradeep Bhargava in their paper, 'Public Intervention for Poverty Alleviation: An Overview' (EPW, October 14-21) have done eloquent service by not only commissioning nine state-specific studies on rural poverty but also by preparing a synthesised o verview based on these studies. My comment is on their conclusion that poverty can be alleviated with the intervention of target-group specific poverty alleviation programme "without spectacular economic growth". This conclusion it extended lo its logical extreme suggests that a strategy of poverty alleviation is a better alternative to growth with social justice-oriented policy. While Vyas and Bhargava may not have intended this, the unintended evil may be taken as good.

Rural Banking Misdirected Policy Changes

Rural Banking: Misdirected Policy Changes Bhupat M Desai Three policy alternatives can be identified for improving the profitability of commercial banks' rural branches: closing loss-making rural branches, improving the interest spread for these branches and diversifying lending and deposit portfolios. The government has chosen the first two of these, which is short-sighted, means piecemeal treatment of the problem and ignores the objective of financial intermediation, whereas the third alternative deals with the problem while serving the fundamental objective of mobilising funds for agricultural and rural development.

Performance of Institutional Finance for Agricultural Development

Agricultural Development Bhupat M Desai N V Namboodiri This article analyses the performance of rural institutional finance system and draws implication for improving his performance. It is seen that while the long run performance of the rural institutional finance system has been good short run growth rates display a desperate performance. Moreover, this system has performed better in deposit mobilisation than in financing agricultural output and investment Its performance on the functional structure of loans and loan recovery leaves much to be desired. Despite this, the RFIs are viable and have not suffered from scale diseconomies in their transaction costs. Similarly, agricultural productivity and investment have increased with the increase in various functions of the rural institutional finance system.

Development of Food-Processing Industries

Bhupat M Desai N V Namboodiri This paper has analysed development and financial performance, with special reference to working capital management, of selected food-processing industries, foodgrains milling, edible oilseeds processing, sugarcane processing and milk processing all of which produce mass consumption goods. It prioritises these industries for develop- ment based on the performance criteria and discusses strategies.

Agenda for Financial Reform

N A MUJUMDAR (financial Scenario in the 1990s: Agenda for Reform', April 7) has persuasively shown what lack of financial liberalisation has accomplished in India, Japan, and South Korea and what acceptance of this policy in recent times has led to in such countries as Argentina, Brazil, United States (Savings and Loan Associations), and Uruguay. Four observations may be added:

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