Free Essays on Existence Of God

My contention falls under the issues of religion and confidence in light of the fact that the principle question asked is, to accept or not to accept? The difficult I see concerning this issue isn't whether we have confidence in God, yet on the off chance that He genuinely exists. The main model I can consider to show this issue is state, â€Å"What if?† What on the off chance that we accept and things being what they are, there is nothing after death for sure in the event that we accept yet we find that confidence has meant nothing? The primary individuals engaged with this contention would then be individuals who don't have confidence in God on the premise that God made everything and a portion of the things He made were terrible. What is on the line is our interminable spirits. Is it true that he is there and was religion justified, despite all the trouble? Myself and nonbelievers who may peruse this paper must look more extensive than they may have ever looked before at so me other time so this issue can be really observed without assumptions and predisposition. I will attempt to move toward this contention from an absolutely authentic perspective. Presently my case can be essentially expressed as the way that God doesn't exist. The key terms and expressions that need characterizing would be God and presence. Webster’s Dictionary characterizes God as, â€Å"the Supreme Being; leader of life and the universe.† This expresses God is all-powerful and controls all that goes on inside his universe. The following most significant term would be presence. Webster’s Dictionary characterizes presence as, â€Å"the state or certainty of having being particularly free of human cognizance and as stood out from nonexistence.† This definition would then surmise that presence is reality instead of appearance or a conscious or living being. In view of these definitions, my case at that point turns into the leader of life and the universe doesn't have being particularly free of human awareness and as stood out from nonexistence. The crowd for this contention would then basically be theists. The issue that they would anticipate that God does exist and His ex... Free Essays on Existence Of God Free Essays on Existence Of God My contention falls under the issues of religion and confidence on the grounds that the primary inquiry posed is, to accept or not to accept? The difficult I see concerning this issue isn't whether we put stock in God, yet on the off chance that He really exists. The main model I can consider to delineate this issue is state, â€Å"What if?† What on the off chance that we accept and things being what they are, there is nothing after death for sure in the event that we accept however we find that confidence has meant nothing? The principle individuals engaged with this contention would then be individuals who don't have faith in God on the premise that God made everything and a portion of the things He made were terrible. What is on the line is our undying spirits. It is safe to say that he is there and was religion justified, despite all the trouble? Myself and nonbelievers who may peruse this paper must look more extensive than they may have ever looked before at some other t ime so this issue can be genuinely observed without assumptions and inclination. I will attempt to move toward this contention from an absolutely genuine perspective. Presently my case can be basically expressed as the way that God doesn't exist. The key terms and expressions that need characterizing would be God and presence. Webster’s Dictionary characterizes God as, â€Å"the Supreme Being; leader of life and the universe.† This expresses God is all-powerful and controls all that goes on inside his universe. The following most significant term would be presence. Webster’s Dictionary characterizes presence as, â€Å"the state or certainty of having being particularly autonomous of human awareness and as diverged from nonexistence.† This definition would then gather that presence is reality instead of appearance or a conscious or living being. In light of these definitions, my case at that point turns into the leader of life and the universe doesn't have being particularly free of human awareness and as stood out from nonexistence. The crowd for this contention would then chiefly be theists. The issue that they would predict that God does exist and His ex... Free Essays on Existence Of God â€Å"Anselm, Aquinas and Augustine On the Existence of God† Amalgamation Paper #1 The presence of God has come into question since the very beginning. From the beginning of time, thinkers have scanned for a response to creation. How did the earth show up? Who is capable? For what reason did they make people, where do we originate from and how could we arrive? Notwithstanding the numerous speculations, most scholars figure out how to concur on a certain something; there is some prevalent being answerable for Creation. I will investigate the ways of thinking introduced by St. Thomas Aquinas, St. Augustine and St. Anselm trying to find which, assuming any, has revealed the certain fact. Anselm, Aquinas and Augustine each showed an adoration for information and shared solid connections to religion, to be specific Christianity. Aside from of their own strict convictions they additionally concede to a few essential standards with respect to creation. The most widely recognized idea these old searchers of intelligence share is simply the conviction that a being more prominent than themselves maintains divine solidarity, goodness and force, somebody called God. Augustine portrays God as unceasing, Anselm characterizes God as the â€Å"most impeccable being† and Aquinas alludes to God as the â€Å"unmoved mover.† Whatever name or mark every thinker picks, they despite everything concur that God has boundless information and knowledge while being a definitive model of flawlessness. Augustine is first last and consistently a Christian. His way of thinking investigates his own conviction that astuteness must be completely uncovered through Christ. Augustine is persuaded that actually one and that the two savants and prophets have made significant commitments to our comprehension. Along those equivalent lines, Aquinas considers logicians as essentially, admirers of insight who do not have the totality of information as Christ uncovers it. Augustine and Anselm base their perspectives on the possibility that confidence and reason are the main genuine wellsprings of human information. On one hand, Anselm has faith in God, yet ...

English Speech Against Physical Punishment of Children :: Papers

English Speech Against Physical Punishment of Children Hello/Afternoon women, men of honor and administrator. I am too contending against the movement that expresses, this house accepts that physical discipline including smacking little youngsters isn't right. I am a firm adherent that a short, sharp smack can hold youngsters under control. This doesn’t mean they ought to be pummeled or even checked, however, exacting and reasonable discipline will profit a kid over the long haul. It would be ideal if you picture this scene: a little youngster of around 3 years is having a hissy fit in a bustling high road since his mum won’t get him a toy vehicle. He attempts to flee from his mom, shouting and yelling simultaneously. To stop the commotion the mother gives in a purchases the toy vehicle. Presently ask yourself who is in control here, the mother or the kid? All things considered, the kid gets his own specific manner and now knows precisely what to do next time he needs something. In these conditions, guardians may need to fall back on a smack to one, get the youngster tuning in and doing what they are told, two, stop the clamor and fit lastly, for the child’s advantage and own wellbeing. Likewise, what or who is going to stop a wild kid running out into the center of a bustling street? A fast smack is significantly less agony full at that point getting wrecked by a vehicle or even a transport! There are numerous for the administration leaving the law as it stands that guardians reserve the option to smack their kids. Gatherings for example, Family and Youth Concern feel lawmakers should let guardians continue ahead with raising their kids as they see fit, and caution that any adjustment in the law would chance transforming a huge number of guardians into crooks. They additionally feel a restriction on smacking would be difficult to authorize. The restriction may contend that there are different types of discipline which are similarly as successful as smacking. For instance, overlooking the

Change Blogger Email Account to Move Your Blog

Change Blogger Email Account to Move Your Blog This is all about a process of changing your Blogger email account. More clearly changing your Blogger Blog's older Gmail account with new Gmail account. Suppose you have created your Blog account under your personal Gmail account but now you want to give it a professional touch then you must use your Domain name in your email account. For example, my name is Mohammad Fazle Rabbi and my Gmail account is rabbikhan@gmail.com and I have created a BloggerSpice Blog under that Gmail account. So whenever I use my email account then I have to submit my personal Gmail account rabbikhan@gmail.com which is not professional. So in this case bloggerspice@gmail.com is sounds professional. But if the name is available then you can use it, otherwise you have to add some extra letter with domain name to use your desire email ID. In Blogger there hasn't any direct option to change your Blogger email account. For this reason we have to be little tricky. We knows Blogger accept multiple admin, so we will adopt this opportunity to change our Blogger email ID to move Blog between accounts. Before proceed to the tutorial just create a new Gmail account with your Domain name. After that follow the following steps- Step 1Sign in toyour Blogger Accountand Go toBlogger Dashboard Step 2Now Under-Settings -BasiclocateBlog Authors Steps 3From there click on+Add authorsa blank box will expend. So write your recently created email address and click on orange color Invite authors button. Step 4Google instantly send an email to your new email address. Just check your new Gmail account Inbox. And click on orange colorAccept invitationbutton from email, you will be directed another page with details Blog information and from there again click on orange colorAccept invitationbutton. After that you will be get connected or join as a Author in your Blog site. Step 5Now relocate-Settings -BasiclocateBlog Authorsand see with your new email account you have connected as author. Now simply click on Author button and from Drop Down option select Admin to convert your new email ID Author to Admin. Step 6Finally Click on Cross (X)icon next to old Admin Account to remove old Admin Account. And now you can login to your Blog account with the new Gmail account. Note that older Admin Account cannot be removed until New Account has admin rights, since every blog must have at least one admin member at all times. That's it you have successfully move your blog from older account to new account. Limitations of this Trick There are some limitations exist in this process. After deletion of older account, Blog Posts published under older account will display older name. For this reason you have to repost all under your new account with display name. Blog post's photos that uploaded by older account will be break if you delete older account. So for keeping unchanged the post's images you have to leave your older account active.

Essay on Life and Evolution Quiz - 1020 Words

Study Guide – Module/Week 13 Tasks: Resources: Quiz Preparation Tasks: Life by Design â€Å"Reading Study† in module/week: Blackboard Course Site Other Online Sites Text Presentation Course Document Video/URL** 1 Describe Leonardo da Vinci’s view of living things and their source or origin. Ch 13.1 â€Å"Life as Ultimate Art†, text http://www.youtube.com/watch?v=J9xUL5Yi_8Mlist=PL2254DD3E7B28C572 (love this video) 2 List some observations Charles Darwin made while reading and voyaging the world. Ch 13.1 â€Å"Life as Ultimate Accident†, text + Figures http://www.youtube.com/watch?v=03YKT7ytJdE (â€Å"evolution† here refers to what we call micro-evolution. 3 Contrast the terms â€Å"microevolution† and â€Å"macroevolution† Ch 13.1 â€Å"Life as†¦show more content†¦Ch 13.3, â€Å"The Gap to Be†¦Ã¢â‚¬  later text + Figure 20 Review the series of structures that appear during the formation of a primary flight feather. Ch 13.3, â€Å"The Gap to Be†¦Ã¢â‚¬  later text + Figure http://www.youtube.com/watch?v=_lhU-4NT3hs (view at about 3.0 minutes) 21 Describe the series of events in feather development that results in the generation of barbs and barbules. Ch 13.3, â€Å"The Gap to Be†¦Ã¢â‚¬  later text + Figure 22 List five basic evolutionary advances needed to convert a down-like feather into a primary flight feather. Ch 13.3, â€Å"The Gap to Be†¦Ã¢â‚¬  later text + Figure 23 Describe the sort of mutational changes necessary in feather regulatory gene DNA in order to evolve working flight feathers. Ch 13.3, â€Å"Bridging the Gap I: †¦.† early text + Figure 24 Explain why mutational events are unlikely to create new DNA sequences that now perform a new needed function. Ch 13.3, â€Å"Bridging the Gap I: †¦.† later text + Figure http://www.youtube.com/watch?v=iXQWVz2YTqM 25 List a few research studies in which fruitless searches for new genetic information were made. Ch 13.3, â€Å"Bridging the Gap I: †¦.† later text + Figure 26 List some new mutations needed to generate appropriate structuring for flight feathers. Ch 13.3, â€Å"Bridging the Gap I: †¦.† late text + Figure 27 Distinguish the roles that mutation and natural selection play in the evolutionaryShow MoreRelatedSex-Linked Traits Through Meiosis and How It Relates to Genetics.1609 Words   |  7 Pagesexamining the hierarchy that ranges from the fundamentals of cell biology to the physiology of organisms, and the interactions among those organisms in their environment. The topics in this course include cell biology, genetics, molecular biology, evolution, physiology, and ecology. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: †¢ University policies: You must be logged into the studentRead MoreSummary Of Evidence By Kathryn Schulz1473 Words   |  6 Pagesnot, we depend on our past experiences to form our beliefs and ideas. Prior knowledge from personal experiences also explain why we come to the conclusions that we do in everyday life. Whether we like it or not, we are all guilty of believing things based on evidence we have formerly come across. There is a short little quiz in â€Å"Evidence† that proves to both you and Schulz that this is true. One of the seemingly simple questions included a photo of a shaded black rectangle with a white strip runningRead MorePeer Pressuring Parents : High School Being On The Honor Roll896 Words   |  4 Pagesthe 13th we took our first quiz on evolution. After the quiz we took notes in our BILLS. Our BILLS were his version of notes in a notebook. All I remember is how painfully long it took to do notes his way instead of mine. As we were taking notes h e interrupted us and said â€Å" So the quiz grades weren’t as good as I expected. Some of the class did really good but the majority of the class didn’t. Don’t worry if you did bad. Your life won’t end because you did bad on one quiz. You’ll still go home toRead MoreCourse schedule IST7100 1 1 1589 Words   |  7 Pagesorganization C-5 Identify the primary sources of workplace stress for IT professionals Goal D. Understand the potential impact of emerging technologies on an organization Learning Outcome: The students will be able to: D-1 describe the technology life-cycle D-2 describe the implications of not keeping pace with technological advancements D-3 Identify emerging technology to adopt in organizations D-4 Identify the implication of organizational acceptance of emerging technologies D-5 Identify theRead MoreComputer Makes People Become Lazy1111 Words   |  5 PagesA F grade for my quiz which I corrected 8 out 10 questions was a shock for me. The first thing I did was asking my teacher what happened with my quiz. After we checked all the answers, my teacher realized that her computer made a making mistake. Therefore I realized that even a computer made mistake; computers may have revolutionized the way we live and work, but what would happen if they all suddenly crashed? As we increasingly rely on computers to get through the day, the question begs to beRead More Influence and Creativity Essay1237 Words   |  5 Pagesnothing but the products of a multitude of influences throughout our lives. Did I ever have an original thought in my life? Or is it always someone elses idea that I am only repeating? What does it mean to be a human being without original thought and creativity? I talk like my friends do. I learned body language from my parents, stories from m ovies and books, perspectives on life from parents or philosophers or friends or teachers. Despite the myriad of thoughts that make up my personality, I feelRead MoreExploring Biology854 Words   |  4 PagesThemes in the Study of Life Fred and Theresa Holtzclaw Name_______________________Period___________ Chapter 1: Introduction: Themes in the Study of Life Begin your study of biology this year by reading Chapter 1. It will serve as a reminder about biological concepts that you may have learned in an earlier course and give you an overview of what you will study this year. 1. In the overview, Figure 1.3 recalls many of the properties of life. Label the seven propertiesRead MoreThe Importance Of Sexual Traditions And Values : The Expects Of The Class?3347 Words   |  14 Pagesmodern society. I: Required Text Howard, John, Carryin’ On in the Lesbian and Gay South, (New York: New York University Press, 1997) Sessums, Kevin, Mississippi Sissy, (New York: Picador, 2007) Wise, Benjamin E, William Alexander Percy: The Curious Life of a Mississippi Planter and Sexual Freethinker, (Chapel Hill: University of North Carolina Press, 2012). DiMezzo, Aria, Dancing in Hellfire (Independently Published, 2017). Carryin’ On and Mississippi Sissy structure the stigma faced by individualsRead MoreQuiz Final1582 Words   |  7 PagesUniversity of Phoenix Faculty Material Communication Quiz Final- Rosemary Clarke Underline the best answers to the following 30 multiple choice questions. Multiple Choice 1. COMMUNICATION IS DEFINED AS a. the sense that people extract from a message b. the social process in which individuals employ symbols to establish and interpret meaning in their environment c. the perceived rightness or wrongness of an action d. the ability to transmit ones ethical decisions through proper channels 2. TheRead MorePerformance Testing Is A Primary Focus Each School Year983 Words   |  4 Pagesin this quest to improve education and overall quality of life for its students, planning new programs for the following years (Ferrell, Ferrell, Taylor, 2010). Maslow, Alderfer, and McClelland’s theories differentiate in some ways, but many of the concepts seem to overlap. Meeting these needs are imperative in motivating teachers to higher levels of performance. Most of these needs are related to the professional aspects of his/her life. According to Maslow’s Hierarchy of Needs theory, a person

Hurricane Devastation Of The Hurricane - 1763 Words

Abstract Hurricane Katrina was considered as one of the worst hurricanes ever recorded in the history of the United States. It was the sixth strongest Atlantic hurricane ever and the third strongest on record that had reached the United States. According to Brinkley (2006), â€Å"Katrina was the eleventh tropical storm, fifth hurricane, third major hurricane, and second Category 5 hurricane of the 2005 Atlantic hurricane season.† The hurricane occurred on August 29th, 2005, and had a massive physical impact on the land and to the residents of New Orleans City (Galea Brewin, 2007). Before the hurricane, there was massive destruction of the wetlands beside construction of canals and these increased the erosion rates in the lands. After the floods, much of the city’s water was contaminated leading to the loss of the aquatic lives and indigenous plants. Introduction Arguably, the hurricane Katrina effect was estimated to cover about 90,000 square miles; affecting over eighty percent of the city’s land space (Jacob et al., 2008). The disaster led to the displacement of over eight hundred thousand New Orleans citizens and directly affected over one million families (Kirk, 2009). These exceptional properties and life loss was recorded inShow MoreRelatedHurricane Devastation Of Hurricane Katrina1798 Words   |  8 Pagesdictate an outcome in any given situation, which holds no difference in the the results of Hurricane Katrina, the response between organizations that contributed to one of the greatest natural devastations to occur in the United States, outcome of recovery efforts and obstacles if any, lessons learned, and recommendations and/or improvements to be made to prevent such a disaster from occurring again. Hurricane Katrina was a storm that took us by surprise, impacting Mississippi and Louisiana where damagesRead MoreHurricane Devastation Of Hurricane Katrina762 Words   |  4 PagesHurricane Katrina Scandal Without doubt, Hurricane Katrina has been the major catastrophe of the century suffered in the United States. The category 5 hurricane which at first was on course to hit Florida drifted into the Gulf of Mexico taking a direct route to New Orleans. On his way, the hurricane left hundreds of dead, affected hundreds of thousands and left billions of dollars in damage. The largest number of deaths occurred in New Orleans where the hurricane hit the hardest and which was floodedRead MoreHurricane Devastation Of Hurricane Katrina2083 Words   |  9 PagesIntroduction Hurricane Katrina is known for being the most dangerous and murderous hurricane that occurred on August of 2005. It was formed by a tropical wave that moved from the coast of Africa to the Gulf Coast. According to hurricanes they are distinguished by five different categories, the fifth being the strongest. The tropical wave turned into a hurricane under the fifth category that destroyed thousands of homes and killed thousands of people. Hurricane Katrina destroyed New Orleans hardestRead MoreHurricane Devastation Of Hurricane Katrina1355 Words   |  6 PagesHurricane Katrina Natural disaster often happens anywhere in the world, However we may have time to evacuate if we get warnings such as earthquakes, tsunami etc. Hurricanes happen without having time to let people evacuate. This report will provide information about the hurricane Katrina that took place in August 28 2005. This report will provide information from different source that is provided online and in the library which will show information before the storm and flooding, during the stormRead MoreThe Devastation Of The Hurricane Katrina1837 Words   |  8 PagesStates of America, Hurricane Katrina was known as one of the worst hurricanes in the world. The hurricane was a combination of tropical waters and gushing winds. It was the vicious hurricane that caused severe damage to the citizens of the United States of America. The amazing city known for its southern style, Cajun cuisines, jazz music and its celebration of Mardi Gras will never be the same. New Orleans, Louisiana was changed foreve r in August 2005 when this category five hurricane left the city devastatedRead MoreHurricane Katrin Hurricane Devastation1291 Words   |  6 Pages Hurricane Katrina was a storm that should not have caused as much damage as it did. Hurricane Katrina was category one when it made landfall in the state of Florida and was only a category three storm when it made landfall at the Louisiana-Mississippi border (Zimmerman). The weak infrastructure and physical characteristics of cities like New Orleans experience a much greater impact than would normally be expected with a category three hurricane. 1,833 people were killed, the majority ofRead MoreHurricane Devastation Of Hurricane Katrina1928 Words   |  8 PagesHurricane Katrina A study has shown throughout the years the effects of hurricane Katrina can still be seen. The death toll of this hurricane alone was devastating and left many people homeless, more than 800,000 housing units were destroyed or damaged in the storm. As stated, â€Å"Katrina is the costliest U.S hurricane, with estimated damage over $81 billion.† http://www.hurricanescience.org/history/studies/katrinacase/impacts/. After the effects of this catastrophic storm, the red-cross had an enormousRead MoreHurricane Devastation Of Hurricane Katrina1807 Words   |  8 PagesHurricane Katrina was one of the deadliest hurricanes in United States history. Hurricane Katrina was by far the most destructive storm to strike the United States with the actual cost of Hurricane Katrina’s damage between $96-125 billion. An estimated 1,836 people died and millions of others were left homeless along the gulf coast and in New Orleans. With homes virtually destroyed, thousands of people abandone d the area which in turn caused thousands of jobs to disappear. New Orleans lost 190,000Read MoreHurricane Devastation Of Hurricane Katrina Essay2191 Words   |  9 Pageschange forever. A vicious storm called Hurricane Katrina was about to sweep through the Gulf Coast. Not only was this storm big, but it was the 5th greatest hurricane in the history of the United States, and took millions of people by surprise. This storm ruined people’s homes, and lives in less than 24 hours, and nothing would ever be the same again. It seemed like any normal day for people all over the Gulf Coast, until they get the news of a soon coming hurricane that is ranked at a category 3, butRead MoreThe Hurricane Devastation Of Louisiana1484 Words   |  6 PagesIntroduction The people of New Orleans, Louisiana believed that it would be a storm like any other, nothing to set this Hurricane apart from the others that they had dealt with over their lives living in their beloved city below sea level. Unfortunately, that proved to not be the case and indeed it would be a storm they would remember for the rest of their lives. The impact of this storm to the people of Louisiana was felt by more than just their wallets, but by the touching and emotional tails

Henry David Thoreau and the Counterculture - 1357 Words

Transcendentalism is a literary and philosophical movement, associated with Henry David Thoreau and the Counterculture, asserting the existence of an ideal spiritual reality that transcends the empirical and scientific and is knowable through intuition. Imagination and individuality are associated with the term. Henry David Thoreau who was a leading philosopher and poet was a leading transcendentalist. He compiled a novel titled Walden, a non-fiction depicting his stay at Walden Pond where he truly explored nature and his transcendental quality. Similar to Thoreau, the Counterculture was a non-conformist group, during the 1960’s and 1970’s who went against societys norms and became their own sub-culture. They too were highly considered†¦show more content†¦Lennon’s â€Å"Imagine† circled around the topic of imagination, and how it could take you anywhere, much like Thoreau’s belief of imagination. Lennon was influenced by nineteenth century transcendentalists philisophospher Henry David Thoreau (Henry David Thoreau). John Lennon was part of the counterculture and imagined the world to be peaceful within the future, where people lived their dreams. Henry David Thoreau and the counterculture shared the love of use of the imagination and brought forth their ideas whether or not they fit into societies standards. They went against the grain of wood, and did not mind one bit of society’s opinion of them. Henry David Thoreau and the counterculture are also different in a few aspects. Thoreau loved to be alone. He exclaimed, â€Å"I love to be alone. I never found the companion and companionable as solitude. We are for the most part, more lonely when we go abroad amongst men then when we stay in our chambers† (Companionable as Solitude). Thoreau enjoyed being alone and felt as if he was truly being himself, when around others he believed that you had to try to fit in with the social settings. He was individualistic in most things he did. On the other hand, the counterculture liked to travel in groupies. The counterculture savored time spent with other non-conformists and enjoyed the company of those around them. They stayed in homes with fifteenShow MoreRelatedThe Crying Of Lot 49 By Thomas Pynchon1174 Words   |  5 Pagesagainst an oppressive regime or in protest of immoral actions. Some prominent cases were the American Revolution, French Revolution, Transcendentalistsâ €™ civil disobedience, 1960’s counterculture movement, and the Civil Rights movement. Thomas Pynchon’s postmodernist novella, The Crying of Lot 49, set in the 1960 s counterculture era of hippies (rejecting mainstream American Society), captures the essence of rebelling against institutions. The literary genius Pynchon, with his slapstick absurdity, ironyRead MoreThe Day Music Festival, Woodstock, And The Air Of Bethel, New York1679 Words   |  7 Pagesthat was Woodstock as some of the best days of their lives. No one was more uneasy about nonconformity than the robots of mechanized society who would self destruct when they were presented with masses practicing new, entirely taboo habits. The counterculture that grew during the movement included new associations with art, music, alternate living arrangements, drugs, religions, unconventional sexual practices, the breaking down of racial barriers, freedom, philosophy, spirituality, new clothing, andRead MoreCarnat ic Music888 Words   |  4 PagesTime Magazine study on hippie philosophy credited the foundation of the hippie movement with historical precedent as far back as the counterculture of the Ancient Greeks, espoused by philosophers like Diogenes of Sinope and the Cynics also as early forms of hippie culture. 2. It also named as notable influences the religious and spiritual teachings of Henry David Thoreau, Hillel the Elder, Jesus, Buddha, St. Francis of Assisi, Gandhi, and J.R.R. Tolkien. 3. The first signs of modern proto-hippiesRead MoreThe Great Expansion Of The 20th Century Essay1666 Words   |  7 Pageswater for its rapid growth. In all this great expansion of aqueducts and dams, concerned citizens like John Muir proclaimed that more must be done to protect the majesty and beauty of California before it is all gone. Inspired by the writing of Henry David Thoreau, which published Walden, a landmark book on the topic of environmentalism, and his years exploring and camping in the Sierra Nevada wilderness, Muir began to gather like-minded scientists and thinkers in San Francisco. Efforts by Muir and theRead MoreEssay His 135 Week 9 Final Project3576 Words   |  15 Pagesthe living rooms of middle-class Americans. Not every African Americans agreed with the manner in which the struggle should be made: Dr. Martin Luther King Jr was a primary advocate of peaceful change† reasonable dialog, and taking the arguments of Thoreau and Gandhi to heart. King believed if enough people purposely broke, albeit peacefully, unjust laws and actions, those laws would fail. (Morris,1986, 30-44, 58-89). In contrast, though, as millions of African Americans migrated fromRead MoreAmerican Revolution and Study Guide Essay example5377 Words   |  22 PagesPuritans Triangular trade First Continental Congress John Smith Separatists Molasses Act Sugar Act Francis Drake Pilgrims Scots-Irish Quartering Act William Penn Predestination Louis XIV Boston Massacre Henry VIII Salutary neglect George Washington Stamp Act Elizabeth I Massachusetts Bay Colony Marquis de Montcalm Hessians Navigation Laws 7 Years War Mercantilism New France House of Burgesses Glorious Revolution

Navajo Nation free essay sample

The Navajo Nation Hope Thatcher Intro. Cultural Anthropology Dr. Janis McFaul February, 6 2012 The Navajo nation is the largest native tribe in the United States. They are a society built on harmony with Mother Earth. They believe that everything has a purpose whether it be good or evil. They rely on the land for nourishment and medicine. They are a proud tribe and have close family unity. The Navajo are a peaceful tribe and strong in values. Introduction I will discuss a few interesting topics with you in this essay. The Navajo Nation, is in my option, is one of the most beautiful tribes. The name â€Å"Navajo† comes from the Pueblo Indian word for planting fields. The name was given to this tribe because they were farmers. The Navajo ways of family structure is strong and proud. Children do not want to disappoint their parents. Harmony is a daily goal. The respect for one another is a beautiful thing. The basic principle of K†e, meaning relationships comprised of kindness, love, cooperation, thoughtfulness, friendliness, and peacefulness guides interaction among family members in the extended matrilineal kinship network and among clan members†. (Morgan, F. 2002; Witherspoon 1983) The Navajo nation are proud people who are deserving of great respect. Their harmonious ways could be a template for others to follow. Horticulturalist The Navajo were traditionally cultivators, although many now herd sheep, which they acquired from the Spanish†. (Hutchinson Unabridged Encyclopedia) They have four primary plants that they harvest; beans, corn, squash, and tobacco. Corn being the most important. The Navajo share a spiritual connection with Mother Earth, so knowledge and respect of the plants is passed on to the children. The use of sheep was also an important part of the Navajo way. Not only were the sheep used for food (mutton), it also provided clothing, blankets, and rugs from the wool. Belief and Values The Navajo believe they travel through three other worlds before entering this world. The number four is predominate within the Navajo society. There are four sacred mountains that are associated with four colors, four directions, and also the first four clans. There are four aspects of importance in the life journey of the Navajo. First is the importance of religion. These ways are intertwined with their daily lives. Secondly, is food. The importance of this aspect is strong, for the daughters will become the primary meal provider for her family when she marries. The boys need this knowledge for when they become hunters. The third aspect is water. The importance of water is a spiritual experience. It is considered to be a gift from the Holy People. Fourth brings the plants. The spiritual connection between the Navajo and Mother Earth brings great respect for the gifts of nature. These ways are proudly passed from a mother to her children. In their ways, life revolves around Mother Nature. The Navajo believe that there are two classes of people: Earth people and Holy People. The Holy People are believed to have passed through other worlds, thus taking them to the fifth world. This is where the Holy People created the first man and first woman. These are the ancestors of the Earth People. The Holy People have moved on to live in other realms above the earth. The Earth People must do everything they can to maintain harmony with Mother Earth. The first man and woman created the plants and animals from a sacred medicine bag. While doing so, the sacred mountains were created. The first man and woman are responsible for creating the first four pairs of Navajo, which are the founders of the original Navajo clan. Ceremonies are performed to restore harmony. There are purification ceremonies, for example, the blessing of the hogan (home) through singing, praying and pollen sprinkling. The unraveling of herbs and feathers symbolizes the purification of evil and the attraction of good. The Navajo believe that everything has a purpose – be it good or evil. It is important that everything remain in balance. There are more than fifty different kinds of ceremonies that may be used by the Navajo, performed at various times for various reasons. These ceremonies can last for several hours while others may last for nine days. Sickness and Healing There are those who have modernized and go to the local hospital for treatment of ailments, yet there are still those who visit the Medicine Man for his wisdom and ability to cure them. The Medicine Man has super-natural abilities to diagnose and treat ailments. There are three branches of health practitioners – herbalist, shaman, and medicine man. The herbalist are mostly female. They deal with herbs used for systematic relief. The herbalist were mainly mothers tending to their family. The shaman were used to come up with a diagnoses of an ailment, thus referring people to the medicine man. Within the Navajo spiritual healing process, the cause of sickness is the most important. They believe the sickness is not known by the symptoms of illness or what part of the body is affected, but rather the casual agents. The Navajo practice three diagnostic methods – stargazing, listening, and hand-trembling. Among these three methods, hand-trembling is most commonly utilized. Possible cause of an ailment could be the result of violating taboos. Such things as; exposure to snakes or contact with lightning-struck objects are reasons for healing. Some complain of witches that do them harm. When Navajo come in contact with the dead or dying, illness is considered to be a mental disorder. If one has bad thoughts or words while it is raining, they are considered as having no respect for the rain. The sacred forces will punish them, thus the need for spiritual cleansing. Social Change In 1868, the Navajo signed a treaty with the United States Government to reside on a reservation. Prior to WWII (which lasted from 1939 to 1945), the subsistence of the Navajo was farming and herding. Barter was the means of exchange. â€Å"In the 1930s and 1940s, Navajos again suffered under the U. S. Indian policies when they were forced to reduce their livestock because of overgrazing†. (Denetdale, 2006) After WWII, the civil rights movement brought great changes to the Navajo people. The United States as a whole came into great change. Automobiles were purchased and highways were built. Thus opening opportunity for people to experience the Navajo nation through tourism. This opened a new way for the Navajo. The traditional barter system ended. People came from all around to purchase the goods that the Navajo had to offer. Jewelery and rugs were a couple of profitable items that change the Navajo Nation. By the 1950s, the camp-like living was diminishing. The traditional hogans were replaced with modernized houses. Although, the hogans still hold an importance for ceremonial purpose. The Navajo nation has expanded to 16 million acres, covering northeastern Arizona, northwestern Mexico, and southeastern Utah. This is the largest Indian Reservation in the United States. As what some call progress of a nation, there are those that believe that things that are run by tradition are strong and have been for hundreds of years. â€Å"These differences and similarities of Navajo life today from the past will help determine the future of the people. Respect, responsibility, knowledge, and hospitality can ensure Navajo continuance†. (Lee, 2007) The roles of the society are strongly withheld throughout the clan. Navajos believe they are capable of running all aspects of their nation, They now have a more governed way to live, but their ways of tradition still play a strong role of everyday living. Conclusion In closing, I would like to highlight upon the harmony of a tribe that was forced to change their lives to accommodate invaders of their land. These people have endured many great tragities along their way, yet remain with the harmony of one another and their surroundings. The relationships of the Navajo society are very strong. The respect of each other is a natural way. The spiritual connection with Mother Earth is the foundation of their being.

Defending slavery

Introduction The issue of slavery was a divisive issue between the North and the South in the 1800’s. While the Northern part abhorred slavery, the Southerners not only practiced it but they also embarked on a spirited campaign to promote and defend the practice. It is therefore not surprising to note that as the Northern opposition to the vice rose, Southerners who were more tolerant toward the practice also embarked on a spirited justification of their work system and mode of life.Advertising We will write a custom essay sample on Defending slavery specifically for you for only $16.05 $11/page Learn More This defense by the Southerners finally led to the famous claim that slavery was an evil that could be tolerated and that it eventually brought some positive attributes. This claim partly explains why slavery in the South was able to endure for so long despite the numerous attempts by the North to outlaw the practice. (Queen) One claim that the South fronted in trying to defend slavery was by claiming that the black men popularly known as Negros were nothing but grown up children. For this reason, the Southerners claimed that the Negros needed to be treated in the same manner as little children. In order, to justify their claim, they banned the treatment of Negro’s as mad men or criminals. This was also justified by the view that Negro’s have a low moral and intellectual capacity as compared to their white counterparts. On top of this, a Negro was perceived to act in irresponsible ways, just as a baby would act. This form of irresponsibility was characterized by the inability to keep anything for use in old age. The Southerners therefore claimed that if such a man were let free in the society he would become a big burden. The society was therefore given the obligation of preventing this from happening and the only way to do so was through subjecting the Negro to some form of slavery. The Negro was also percei ved to be of an inferior rank to the whites and putting them at the same level would be the same as giving an upper hand to the white race. This, the Southerners claimed would lead to extinction of the Negro race. In a way, this claim about the Negro being nothing but a grown kid was justified and it led to the success of slavery in the South. (Kirkpatrick) Another claim that the Southerners made to defend slavery in their region was that the Negro slaves under their care were one of the most free and happy people in the world. To justify this claim, the Southerners allowed children, the weak and the aged Negro’s from any form of work. On top of this, this category of the Negro community had all their needs provided for. This group was therefore considered free of any care or any labor.Advertising Looking for essay on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Negro women were also given light chores and their masters protected them from their abusive husbands. Even for those slaves able to work, the Southerners allowed them to do so for only nine hours. This was considered modest by the Southerners and even by the slaves themselves. The Southerners claimed that the slaves could sleep at any time they felt like a luxury that their white counterparts did not have. This perception of a slave at liberty made slavery tolerable and led to its success in the South. (Kirkpatrick) Another claim that the Southerners used in their defense of slavery was that every society was formed by a society of lesser and higher beings. In a speech delivered to the U.S Senate by Senator James Hammond of South Carolina in 1848, he claimed that a society was incomplete if it was devoid of the low class people to do the menial chores. The people in the lower class were supposed to not only have a low intelligence but skill as well. according to Senator Hammond, if this class of the society was lacking then the other clas s of higher citizens who are tasked with building the nation and bringing about civilization would also be missing. The senator and the other Southerners argued that this lesser class of people formed the foundation of any government and without it, the government would most likely end up failing. The Southerners considered slaves as members of this lower class of citizens. To them, slave was just but a name given to people who performed a certain kind of work. The Senator claimed that although the Northerners and the rest of the world were working hard to abolish slavery, all that they were merely doing was wiping out the name and not the real essence of slavery. He claimed that only God had the power to abolish slavery by taking away the poor from the face of the earth. According to the Southerners, the only difference between their slaves and the employed class was that they called them slaves and engaged their services for life. Unlike the other manual laborers, slaves did not f ace starvation or lack of work at any given time. According to the Southerners, this had led to a high number of beggars in the North unlike the South that had few or no beggars. This claim succeeded in silencing the critics from the North something that gave a new lifeline to slavery in the South. (Dirst) The other important claim that the Southerners made in their defense of slavery was that all the citizens in the region were free of any fears of attack from their slaves. The Southerners claimed that those who were in danger were those outside the state who had distorted ideas about the condition that the slaves lived in. in demonstrating this, they gave an example of how Virginians would leave behind their households in the care of the slaves to defend their state.Advertising We will write a custom essay sample on Defending slavery specifically for you for only $16.05 $11/page Learn More These slaves are the same people whom the North claimed that t hey could wreak havoc given the slightest chance. This claim was supposed to show that the slaves in the South were content with the kind of life they were living and any attempt to change that would be met with resistance from the slaves. This helped in silencing the Northerners and led to an extension of slavery in the South for many more years. (The Staunton Spectator) Conclusion The issue of slavery has been one of the most divisive issues between the South and the North in the U.S. While the North abhorred slavery, the South practiced it on a higher level. In order to weather the opposition from the North, they came up with excuses that were meant to defend their reasons for failing to ban the practice. These excuses ranged from the kind of treatment that the slaves were being given to the positive attributes that the practice had brought to their society. This spirited defense led to the success of slavery in the whole of the Southern region. Works Cited Dirst, Tara. Free Mark et Labor vs. Slave Labor. Debating the â€Å"Mud Sill† Theory, 2005. Web. Kirkpatrick, Mary. George Fitzhugh, 1806-1881. Cannibals All! Or, Slaves Without Masters, 2010. Web. Queen, Jacob. What is slavery? 21 September 2010. Web. The Staunton Spectator. White Southerners’ Defense of Slaveholding: Article One, 1859. Web.Advertising Looking for essay on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More This essay on Defending slavery was written and submitted by user Yuliana Tillman to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Pros Cons of Ethics in Accounting Essay Example

The Pros Cons of Ethics in Accounting Essay Example The Pros Cons of Ethics in Accounting Essay The Pros Cons of Ethics in Accounting Essay Articles on: â€Å"A Study on â€Å"The pros and cons of Ethics in accounting practice in India† Author: 1Author: 2 Dr. Giridhar K. V. Mr. Krishna M. M. Assistant Professor,Faculty Member, Department of MBA,Department of Commerce Management, Sahyadri Arts Commerce College,Sahyadri Arts Commerce College, Kuvempu University,Kuvempu University Shimoga-577203. Shimoga-577203. e-mail: giridhar. [emailprotected] come-mail: krishna. [emailprotected] com Cell No. : 9980647833Cell No. 9611473965 Ph. No. : 08182-240022 Ph. No. 08128-401758 Office Address: Sahyadri Arts Commerce College (Constituent college of Kuvempu University), Shimoga-577203. Abstract: â€Å"A Study on â€Å"The pros and cons of Ethics in accounting practice in India† Introduction: All business dealings invariably involve finance and accounting. Everything that a business does has accounting ramifications. Most of the ethical issues in accounting are concerned with accounting statements. Internal financial reporting has to be honest, fair and reliable for an organization to perform effectively. Most business failures are associated with either marketing failure, like failure in selling products or mismanagement in operations. Any of these above failures will always have financial implications. When businesses are weakened due to bad debts or mismatched funding or under capitalization, companies are often tempted to falsify the accounts. It is here that the importance of ethics in accounting statements comes in. This paper discusses the importance of ethics in accounting. Statement of the Problem: The accounting and auditing profession is now facing increased ethical demands due to the corporate scandals. Therefore, we think it would be interesting to investigate the level of ethical reasoning of accountants and auditors. Objectives of the Study: The aim of the study is, from an Indian perspective, to examine the level of ethical reasoning among auditors and accountants when facing an ethical dilemma. Methodology: This paper gives a short presentation of the approach we have chosen for our study. This is followed by information about our data collection, sample, survey and interviews. Finally, the validity and reliability of the study are presented. Theoretical framework: This part gives a presentation of ethics in business, ethics in accounting and ethical reasoning in decision-making. The theory starts out from a broad perspective as a background to our problem for the reader to understand the issue before introducing the main problem; the ethical reasoning among accountants and auditors. Analysis: In this part we combine the theoretical framework with the results from the empirical findings. The results are analyzed and discussed. Conclusion: Accounting is undergoing rapid transition. The changing environment has not only extended the boundaries of accounting but also created a problem in defining the scope of the ethical aspects. However all attempts have been made in this paper to provide a solid foundation covering ethics and also the crucial aspects on which accountants can build upon and achieve success. References: 1. E John Larsen – 1992 – Modern Advanced Accounting, Mc Graw Hill 2. ICFAI Research Bureau – December 2003 – Business Ethics and Corporate Governance, IUP (ICFAI University Press) 3. ICFAI Research Bureau – September 2009 – Case Study in Business Ethics and Corporate Governance, IUP (ICFAI University Press) 4. ICFAI Research Bureau – April 2005 – Accounting For Managers, IUP (ICFAI University Press) 5. http://business-ethics. com/ 6. http://web-miner. com/busethics. htm

Congressional Consideration of New Deal Legislation Essay

Congressional Consideration of New Deal Legislation - Essay Example It wasn’t but 50 years ago that America was engulfed in the â€Å"Great Depression†. Political pundits and members of Congress alike compare our current situation as the worst economic climate since the Great Depression. While the times of that era were certainly tough, the strength and enduring spirit of the American people proved to be resolute and we as a country rose from the ashes like a phoenix. While the spirit of the American people has an ethereal reason on why we overcame the Great Depression, any well-versed scholar of American history knows that it was indeed President Franklin Delanor Roosevelt’s New Deal that catapulted our country out of the economic abyss. â€Å"We have had recessions before and we will have them again; and always, when we do, we can be thankful to the New Deal. For nearly half a century, its innovations in the thirties have helped to keep recession from deepening into depression.†1 The Great Depression lasted from the end of 1929 to the early 1940s, beginning in the United States but slowly spreading to other countries as well, because they had become economically dependent on each other. This era is a widely studied and thoroughly examined time in American history. There are numerous underlying reasons for the Depression, and there are many theories on why it occurred. Some of the seeds that gave root to the Great Depression can be linked to events far before the time of that gloomy era. â€Å"The roots of the Great Depression can be traced back to the world war of 1914-1918 and even beyond. Some authorities describe it as the ultimate collapse of the industrial revolution, with the machine devouring the man†¦..Between 1920 and 1930 economists ceased pondering the question of ‘America’s capacity to produce,’ which had preoccupied them for fifty years and turned belatedly to â€Å"America’s capacity to consume, about which the y

United States school counseling program Term Paper

United States school counseling program - Term Paper Example School counseling is not a new concept; it has been in existence since long; however, it is also true that school counseling at elementary and middle level is a later development as compared to high school and college counseling.Academic counseling, vocational guidance and other forms of school counseling are offered in most schools these days for the students who need it. According to the Education Encyclopedia (2011), school counselors facilitate communication between students, teachers and parents while striving to make learning process a positive experience for all parties involved. This paper will provide a brief history and evaluation of the school counseling program specifically at elementary and middle high school level offered to students in the USA, focusing on the roles and responsibility of a school counselor. History of School Counseling In USA:Though existence of informal school counseling, where the teacher played the role of counselor is centuries long, almost as long as that of education itself; the history of formal school counseling can be traced back to the beginning of twentieth century. In the pro social reform movement period, when child labor was at its peak, counseling was introduced in many schools of USA, but this was mostly vocational counseling which aimed at transforming people in the workforce into productive members of the society (Education Encyclopedia, 2011). During its first half, the 20th century faced two world wars. Two noticeable events occurred in the post war era that cleared the way for counseling in schools as we know it today (Yau, 1988). One was the establishment of American School Counselor Association in 1950 and second was inclusion of aid for counseling in guidance in the national defense education act in 1958 (Education Encyclopedia, 2011). In 1970’s the focus of school counseling was further expanded to engulf the special needs department. Special needs students also fell under the department of school counselor as per the Education for all handicapped children act in 1978. The ASCA has also developed a set of national standards for school counseling program, which serves as a guide for all school counselors regarding their role and responsibilities (Sabella, 2006). Importance of School Counseling Professional school counseling helps in maximizing student success via promotion of a safe and supportive learning environment (ASCA, 2009). According to Gysbers (2003), identity issues, problems pertaining to academic learning, peer pressure, drugs and changing or disturbing family relationships are a common part of students’ daily lives in the USA today. The role of counselor is therefore very important. The school counselor not only identifies the students in need of assistance, but also serves to rectify the problems and help the students in solving their issues. This is attained via expanding communication channels and introducing the students to effective life coping strateg ies as per the requirement. 2. ROLE OF A SCHOOL COLUNSELOR A review of available literature was conducted in order to find out the current trends and issues in school counseling in the USA and to explore the roles of a school counselor in America. The ASCA have carefully developed a national model for professional school counselors to follow. This model is typically based on four areas, namely: foundation, delivery, management and accountability (ASCA, 2011). The element of foundation in the model points out that the counselors are to develop a philosophy in their work and then to follow it. Ideally, counselors create a mission statement in collaboration with that of the school they are working at to create a supportive environment for the students that encourages learning. Delivery refers to the provision of required and expected services by the counselor to the staff, teachers, students’ and parents. Management also falls within the realm f counseling. As per the national

Term Exam Sample Paper Essay Example for Free

Term Exam Sample Paper Essay This sample test should only be used as a guide to the styles of questions. The topics covered here are not exhaustive. Your revision should not be based on these set of questions only. The level of difficulty of this sample test is also NOT indicative of the level of difficulty of the actual test. The answers are provided at the end of the document. 1. A reasonable estimate of the annual standard deviation of return of the stock market would be? a. Less than 5 percent. b. Between 5 and 10 percent. c. Between 15 and 25 percent d. More than 30 percent e. Impossible to estimate 2. A project has an expected cash flow of $200, in year 1. The risk-free rate is 6%, the market rate of return is 16%, and the projects beta is 1. 5. Calculate the certainty equivalent cash flow for year 1. a. $175. 21 b. $164. 29 c. $228. 30 d. $212. 56 e. None of the above 3. Share X has a standard deviation of return of 10%, share Y has a standard deviation of return of 20%. The correlation coefficient between the shares is 0. 5. If you invest 60% of your funds in share X and 40% in share Y, what is the standard deviation of the portfolio? a. 10% b. 20% c. 12. 2% d. 14. 0% e. None of the above 4. Richard Rolls critique of tests of the capital asset pricing model is that: a. Given an efficient market portfolio the CAPM is tautology b. The market portfolio is not efficient c. You need to test the model using the market portfolio for all capital assets d. a and c e. a and b 5. The Template Corporation has an equity beta of 1. 2 and a debt beta of . 8. The firms market value debt to equity ratio is . 6. If it undertakes a new project with the same risk profile, what is the project beta (assuming zero tax rate)? a. 0. 70 b. 0. 72 c. 0. 96 d. 1. 04 e. 1. 05 6. Consider following data on three shares: Share Standard Deviation A 0. 6 B 0. 30 C 0. 20 Beta 1. 00 0. 80 1. 29 Assuming that you wished to minimise risk, you would select share if the share was held in on its own, and you would select share if the share was to be added to a portfolio. a b c d e 7. A, A A, B B, A B, C C, A In a portfolio of three different shares, which of the following is NOT possible? a. b. c. d. e. The ris k of the portfolio is less than the risk of each of the shares held in isolation. The risk of the portfolio is greater than the risk of one of the shares. The beta of the portfolio is less than the beta of each of the individual shares. The beta of the portfolio is greater than the beta of one of the individual shares betas. The standard deviation of the portfolio is greater than the standard deviation of the risk free asset. 8. You hold a diversified portfolio consisting of 20 different shares with $1,000 invested in each. The portfolio beta is equal to 1. 35. You have decided to sell all your holding of Edna Average Cosmetics Ltd which has a beta of 1. You will reinvest the proceeds in Aggressive Action Ltd which has a beta of 2. What is the new beta of the portfolio? a. b. c. d. e. 1. 35 2. 35 1. 45 1. 10 1. 40 9. A company is considering an investment in a new project. That project is best evaluated as though: a. b. c. d. e. It is a stand alone project independent of the company and so its risk is measured as variance. Its risk is adjusted to allow for diversification with the companies existing projects Its cost of capital is the weighted average cost of capital Its risk is evaluated as though it were traded in the capital markets None of the above 10 Is the portfolio with the minimum possible variance an efficient portfolio? a. b. c. d. e. Yes No Yes, but only for risk loving investors Yes, but only for investors who will not take any risk. Yes, but only for investors who are risk neutral. 11. For a two-stock portfolio, the maximum reduction in risk occurs when the correlation coefficient between the two stocks is: A) +1 B) 0 C) -0. 5 D) -1 E) None of the above 12. The variance or standard deviation is a measure of: A) Total risk B) Unique risk C) Market risk D) Bankruptcy risk E) None of the above 13. The risk of a well diversified portfolio depends upon the A) Market risk B) Unique risk of the securities included in the portfolio C) Number of securities in the portfolio D) Variance of the portfolio E) None of the above 4. A factor in APT is a variable that: A) Affects the return of risky assets in a systematic manner B) Correlates with risky asset returns in an unsystematic manner C) Is purely noise D) Affects the return of a risky asset in a random manner E) is generally not correlated with stock returns 15. A company has a cost of capital of 15%. However, it is introducing a new product that it considers to be a ver y risky endeavour to a well diversified investor. What can you say about the appropriate discount rate for the project? A) The rate used should be 15% B) The rate used should be lower than 15% C) The rate used should be greater than 15% D) Any rate between 12% and 18% is acceptable E) The rate should be the expected market return. 16 What has been the average annual rate of return in real terms for a portfolio of U. S. common stocks between 1900 and 2006? a. Less than 2% b. Between 2% and 5% c. Between 5% and 8% d. Greater than 8% e. Greater than 20% 17. Mega Corporation has the following returns for the past three years: 8%, 12% and 10%. Calculate the variance of the return and the standard deviation of the returns.

Rent Control: Pros And Cons :: Rent Control New York Argumentative Essays

Rent Control: Pros and Cons Rent control is the government imposition of price ceilings on rent for apartments in certain areas of a city. The goal is usually to protect the rights of the poor. Thus, in a rent controlled or rent stabilized building, the amount of rent will not increase as quickly as inflation. While the moral side of rent control may have some appeal, in the long run the disadvantages far outweigh the advantages. Those who argue in favor of rent control say that it is the only way to protect lower-income tenants from landlords who overprice, and from being forced to move out of a neighborhood because they cannot afford the rent. Limiting the price that a landlord can demand helps maintain a city's ethnic diversity and prevents the creation of slums on the outskirts of the main city. Another thing that proponents say is that by linking rent prices to apartment maintenance and material improvements, rent control actually improves the state of housing. Overall, they argue that the goals of rent control can be reached if they are administered in a careful and just way. The opponents, though, have both theoretical and practical experience on their side. First, rent control creates a market that is unfair for everyone. Since the rent is set at a lower than normal level, an unsatisfied demand is created. This increase in demand leads to an increase in the cost of rents in the uncontrolled sector. Thus, two types of rents are created: those that are unfairly cheap, and those that are unfairly expensive. Another problem that is created is that landlords who own rent controlled apartments are often not able to earn enough money to adequately maintain buildings. This leads to run-down, poor quality housing. In many cases, landlords lose so much money that they are not able to even pay the debt on the properties, and they abandon them. Both of these effects have been documented in New York and elsewhere, and go against the goals of rent control. Finally, rent control has the bad side effect of turning away new construction. This is because even if rent controls don't include new constructions, owners are afraid to build any new buildings if in a few years those too will be taken over by rent control. Rent control thus leads to less construction and an even greater unsatisfied demand. This, in turn, increases the rents of uncontrolled apartments even more. New constructions are also avoided because banks and insurance companies don't want to invest in areas where rent control is in effect, because they know that it is likely that landlords will not be able to Rent Control: Pros And Cons :: Rent Control New York Argumentative Essays Rent Control: Pros and Cons Rent control is the government imposition of price ceilings on rent for apartments in certain areas of a city. The goal is usually to protect the rights of the poor. Thus, in a rent controlled or rent stabilized building, the amount of rent will not increase as quickly as inflation. While the moral side of rent control may have some appeal, in the long run the disadvantages far outweigh the advantages. Those who argue in favor of rent control say that it is the only way to protect lower-income tenants from landlords who overprice, and from being forced to move out of a neighborhood because they cannot afford the rent. Limiting the price that a landlord can demand helps maintain a city's ethnic diversity and prevents the creation of slums on the outskirts of the main city. Another thing that proponents say is that by linking rent prices to apartment maintenance and material improvements, rent control actually improves the state of housing. Overall, they argue that the goals of rent control can be reached if they are administered in a careful and just way. The opponents, though, have both theoretical and practical experience on their side. First, rent control creates a market that is unfair for everyone. Since the rent is set at a lower than normal level, an unsatisfied demand is created. This increase in demand leads to an increase in the cost of rents in the uncontrolled sector. Thus, two types of rents are created: those that are unfairly cheap, and those that are unfairly expensive. Another problem that is created is that landlords who own rent controlled apartments are often not able to earn enough money to adequately maintain buildings. This leads to run-down, poor quality housing. In many cases, landlords lose so much money that they are not able to even pay the debt on the properties, and they abandon them. Both of these effects have been documented in New York and elsewhere, and go against the goals of rent control. Finally, rent control has the bad side effect of turning away new construction. This is because even if rent controls don't include new constructions, owners are afraid to build any new buildings if in a few years those too will be taken over by rent control. Rent control thus leads to less construction and an even greater unsatisfied demand. This, in turn, increases the rents of uncontrolled apartments even more. New constructions are also avoided because banks and insurance companies don't want to invest in areas where rent control is in effect, because they know that it is likely that landlords will not be able to

Politics and Administration Essay

Introduction 186, 207, 221? Power Struggle between the pro-democratic and pro-conservatism One of the reasons that led to such a tragic end for Tian’anmen Movement is the power struggle between the two camps of leaders, pro-democratic (Former General Secretary of the Chinese Communist Party, Zhao Ziyang) and pro-conservatism (Deng Xiao Ping). In 2009, a memoir was published based on audiotapes recorded by Zhao Ziyang, called Prisoner of the State: The Secret Journal of Premier Zhao Ziyang, he mentioned that he â€Å"didn’t want to be a General Secretary who opens fire on the people.† From this, we could clearly tell by that time, Zhao differed in opinion from Deng and other conservative leaders, like Li Peng on how to handle the student movement, i.e. whether to pursue a peaceful or a military solution. http://blog.foolsmountain.com/2009/06/03/tiananmen-1989-a-need-for-dialogue-20-years-later/ One very crucial turning point that we know is that by that time, the CCP General Secretary made a scheduled official visit to North Korea, which turned out to be a bad decision at the time of turmoil; this was because on April 26th CCP Central issued an editorial on â€Å"People’s Daily† in the absence of Zhao Ziyang, which was titled â€Å"Uphold the flag to unambiguously oppose any turmoil†, denouncing that the patriotic student movement as a turmoil ignited by an â€Å"extremely small handful of opportunists†. http://www.alliance.org.hk/64/6420/?page_id=521 According to Wu Jiaxiang, a former aide and a leading political scientist in Beijing, Zhao Ziyang, before leaving for North Korea on April 21st, had instructed that â€Å"no politburo meeting should be held in his absence† but other CCP leaders, likle Yang Shankun & Li Peng immediately convened a â€Å"CCP Expanded Poliburo Meeting†, then reported to Deng Xiaoping with meeting opinions, and then borrowed Deng Xiaoping’s mouth in stating that CCP â€Å"should not fear bloodshed†. And in Zhao Zhiyang’s self account, recorded by Yang Jisheng, he claimed that it was li Ximing & Chen Xitong who contacted Wan Li on the night of April 21st in request of convening a commissar meeting; that Wan Li relayed the info to Li Peng. Later, according to ________, Li Peng convened the meeting on the night of 24th, reported it to Deng Xiaoping on 25th, and was authorized to relay Deng’s opinions to communist cadres; and that Li Peng took advantage of the occasion to draft a newspaper commentary for publication on April 26th. By the time Zhao returned to China after the scheduled visit, he found it was just too late to remedy the situation as hostilities between the government and the people have been greatly aggravated. Other than the mis-communication over the People’s Daily’s editorial, we may gain further insights into the power struggle between the party leaders by taking a look at a previous document obtained by CNN and written by Bao Tong, a close aide to Zhao Ziyang, describing in detail the events leading up to the crackdown on student protests in Tiananmen Square on June 4, 1989. September 25, 1989 Comrade Hu Yaobang died on April 15, soon after which the student demonstrations began. I was extremely worried. Comrade Xiaoping pointed out in his speech on April 25 that the overwhelming priority in China is stability – I completely agreed with his point; I also wanted to maintain stability and prevent turmoil. Specifically, I wanted to make an effort to reduce tensions and to avoid precipitating the tension into clashes. The People’s Daily April 26th editorial, in my view, was harsh in language and lacked analysis and persuasiveness; I had my reservations about it. On May 19 and 20, the Central Committee announced the decision to send the military into Beijing and declare martial law; in my heart, I believed we made a terribly wrong move; I was afraid that we would be trapped in a very difficult situation, â€Å"riding a tiger, hard to get-off.† The Central Standing Committee collectively criticized Comrade Zhao Ziyang; I felt it was unfair. 1.1 – It was I who first informed Comrade Ziyang that the April 26th editorial had aggravated the confrontational mood of students and people who had previously taken a neutral position. Comrade Ziyang returned to Beijing from North Korea on April 30th. As soon as he returned, I reported to him as follows: Students have been demonstrating in the streets since April 27th. There were so many of them that it was impossible to blockade; there were also lots of onlookers following them. Some government officials sympathized with the demonstrations. There were signs that the incident was escalating and expanding; there were a great number of students and others who resented the April 26th editorial and believed that it was hostile towards them. I spoke about my opinion of the editorial: the positive side of the editorial was that it presented Comrade Xiaoping’s thoughts that Chin a must maintain stability and must not fall into turmoil. However, the editorial was written in a very harsh tone, did not adequately present reasons and lacked analysis. It also did not take into consideration the acceptance of people who were previously neutral. Since there were so many people who believed that the editorial was hostile to them, it was obvious that the editorial did not express its ideas clearly. Comrade Ziyang did not express his own opinions at that time. After a few days, he said to me: â€Å"It seems that there are flaws in the editorial.† Comrade Ziyang certainly formulated his opinions in his own way, but it was I who first reported to him about the editorial with this point of view. http://edition.cnn.com/2001/WORLD/asiapcf/east/04/22/tiananmen.document.01/ Students’ Uncollective Actions As discussed above, power struggle among the party leaders is one of the factors in leading to the unwanted tragedy of the June 4th Movement, but as I argue down below, the chaotic and unsystematic internal management of various student movements are by nature underlying factors to the tragedy. After the April 27 demonstration, the government commenced to open up dialogues with students, and the government seemed to take the initiative to adopt a more positive approach towards the student movement. The government’s willingness to concede and negotiate have lit up the hope for the majority of students that the entire student movement might come to a peaceful end(Source: Book) Yet, almost by the same time, the leadership and organization of the movement among the student leaders became â€Å"problematic†. Not only did the student movement organizations hold different points of views towards the movement strategies, some of the student leaders also paid no respect to organizational claims, and much often instead, they themselves acted on behalf of their organizations. One fine example would be the case of Zhou Yongjun, who was the president of Beijing Autonomous Federation. He helped organize another big demonstration on May 4. However, without any consent from his fellows and colleagues, he announced the end of class strike â€Å"without a clear resolution within the leadership†. http://www.standoffattiananmen.com/2009/04/people-of-1989-zhou-yongjun.html In order to better describe the dividing powers among the student leaders during the late stages of June 4th Movement, Zhao (2001) simply grouped the student demonstrators by that time into three groups, which are called respectively Dialogue Delegation Group, Beijing Students’ Autonomous Group and the so-called â€Å"charismatic group† http://site.ebrary.com.eproxy1.lib.hku.hk/lib/hkulibrary/docDetail.action?docID=10402626 As Zhao (2001) noted, the students that belonged to Dialogue Delegation Group were â€Å"eager for the coming dialogue with the government†. References Gonzales, Eduardo, L. and Gillespie, C.G. (1994). Presidentialism and Democratic Stability in Uruguay. In J. J. Linz and A. Valenzuela (Ed.), The Failure of Presidential Democracy, Comparative Perspective (pp. 151 – 178). Baltimore: The John Hopkins University Press Hanan, D. (2007). Presidentialism, parliamentarism and semi-presidentialism: Incentives and disincentives in achieving multiple democratic goals. Retrieved from http://djayadihanan.blogspot.com/2007/12/presidentialism-parliamentarism-and.html Linz, Juan J. (1994). The Failure of Presidential Democracy. The Case of Latin America. In J. J. Linz and A. Valenzuela (Ed.), Presidential or Parliamentary Democracy: Does it Make a Difference? (pp.7).Baltimore: The Johns Hopkins University Press Maeda, K. & Nishikawa M. (2006). Duration of Party Control in Parliamentary and Presidential Governments: A Study of Sixty-Five Democracies, 1950-1998. Retrieved from http://www.bsu.edu/web/mnishikawa/MaedaNishikawa2006CPS.pdf Mainwaring, S. (1993). Presidentialism, Multipartiism, and Democracy, The Difficult Combination. Comparative Political Studies, Vol. 26 No. 2 (pp. 198 – 228) Mainwaring, S. & Shugart, M. (1993). Juan Linz, presidentialism, and democracy: A critical appraisal. Retrieved from http://www.nd.edu/~kellogg/publications/workingpapers/WPS/200.pdf Power, Timothy and Mark J. Gasiorowski. (1997). Institutional Design and Democratic Consolidation in the Third World. Comparative Political Studies. Shugart, M. S., & Carey, J. M. (1992). Presidents and assemblies: constitutional design and electoral dynamics. Cambridge: Cambridge University Press. Valenzuela, A. (1994). Party Politics and the Crisis of Presidentialism in Chile: A Proposal for a Parliamentary Form of Government. In J. J. Linz and A. Valenzuela (Ed.), The Failure of Presidential Democracy – The Case of Latin America (pp. 93). Baltimore: The Johns Hopkins University Press

Essay on Ett4 Task 602.1.1-05 - 836 Words

ETT4 Task 602.1.1-05 The lesson on pan balance equations has a clear purpose. The teacher is aware of the state standard that all 8th graders are to take algebra. By introducing some pre-algebra skills to students now will allow them to build on this prior knowledge when they reach 8th grade. Mrs. Soglin clearly states the objective of today’s lesson at the beginning of class. She tells the class that today they are going to learn about equations and pan balance. She is also providing a visual aid of a pan balance to help the variation of learners in her class. Mrs. Soglin asks the class questions about pan balance to gain information about what background knowledge and experience the students have with the subject. Many†¦show more content†¦Even if they were wrong or needed more information to come to the correct conclusion. Her lesson used cooperative learning with indirect instruction. She asked a lot of probing questions and then would build on studentsâ⠂¬â„¢ response. She gave plenty of think time for the students to process what they were trying express to the class. If students didn’t give the correct response she would allow other students to help come up with the correct answer. The correct answer came from the students building on each others knowledge. Mrs. Soglin facilitated the discussion and added new information as needed. After the class discussion the students worked on their activity in pairs or groups and were engaged in self directing during this time. This lesson was geared toward many levels of learning ability and a variety of learning styles. Mrs. Soglin modeled the learning objective with the pan balance using the visual aid with the scale and a variety of different objects to be weighed. Then she provided additional information using the chalkboard. She engaged with the class by having an open discussion allowing the students to build on each other’s knowledge of the subject matter. She allowed for students to model for the class. When students were working in groups and pairs the higher level students helped lower level students. She also provided challenging problems at the end of the activity for those students who were ready and

What are smes - Free Essay Example

Sample details Pages: 31 Words: 9268 Downloads: 3 Date added: 2017/06/26 Category Statistics Essay Did you like this example? What are SMEs? Small and medium enterprises (also SMEs, small and medium businesses, SMBs, and variations thereof) are companies whose headcount or turnover falls below certain limits. The lack of a universal definition for SMEs is often considered to be an obstacle for business studies and market research. Definitions in use today define thresholds in terms of employment, turnover and assets. They also incorporate a reasonable amount of flexibility around year-to-year changes in these measures so that a business qualifying as an SME in one year can have a reasonable expectation of remaining an SME in the next. The thresholds themselves, however, vary substantially between countries. As the SME thresholds dictate to some extent the provision of government support, countries in which manufacturing and labor-intensive industries are prioritized politically tend to opt for more relaxed thresholds. Don’t waste time! Our writers will create an original "What are smes?" essay for you Create order Defination of SMEs in Indian context The MSMED Act 2006, which came into force w.e.f. 02/10/2006, defines the Micro, Small, and Medium Enterprises. As per the Act, the activities are classifiedinto Manufacturing and Service Category. Initially, the MSMED Act 2006 had not defined the Services Sector and RBIs guidelines were awaited. However, subsequently RBI have defined the services sector and the activities that can be covered under the SME sector. The following chart indicates the threshold investment levels for both Manufacturing sector (INVESTMENT IN PLANT MACHINERY) and Services sector (INVESTMENT IN EQUIPMENT) for the above three categories of Manufacturing and Services Enterprises : Enterprise Engaged in Manufacturing / Preservation of Goods(incl. Processing Units) Engaged In Providing/ Rendering of Services Remarks Micro Enterprise Not to Exceed Rs. 25 Lakhs. Not to Exceed Rs. 10 Lakhs. 1.Separate threshold investment limits proposed by the Act for Manufacturing and Services Sectors. 2. Micro Enterprises newly introduced under both the sectors. Small Enterprise More than Rs.25 lakhs but does not exceed Rs. 5 Crores. More than Rs.10 lakhs but does not exceed Rs. 2 Crores. Medium Enterprise More than Rs.5 Crore Rupees but does not exceed Rs. 10 Crore. More than Rs. 2 Crore Rupees but does not exceed Rs. 5 Crore While calculating the investment in plant and machinery/equipment referred to above, the original price thereof shall be taken into account,irrespective of whether the plant and machinery/equipment are new or second hand. In case of imported machinery/equipment, the following duty/charges/costs shall be included in calculating their value: Import Duty (not to include miscellaneous expenses such as transportation from the port to the site of the factory, demurrage paid at the port); Shipping Charges; Customs Clearance charges; and Sales Tax or Value-added Tax. Cost of the following plant machinery/equipments etc would be excluded:; equipments such as tools, jigs, dies, moulds, and spare parts for maintenance and the cost of consumable stores; installation of plant machinery; research and development and pollution control equipments; power generation set and extra transformer installed by the enterprises as per the Regulations of the State Electricity Board; Bank charges and Service Charges paid to the National Small Industries Corporation or the State Small Industries Corporation; Procurement or Installation of cables, wiring bus bars, electrical control panels (not mounted on individual machines) Oil circuit breakers or miniature circuit breakers which are necessarily to be used for providing electrical power to the plant and machinery or for safety measures; Gas producer plants; Transportation charges (other than sales tax or value-added tax and excise duty) for indigeneous machinery from the place of their manufacture to the site of the enterprise); Charges paid for technical know-how for erection of plant machinery; Such storage tanks which store raw materials and finished products only and are not linked with the manufacturing process; Fire-fighting equipment; and Such other items as may be specified, by notification from time to time. In case of Service Enterprises, the original cost to exclude furniture, fittings and other items not directly related to the services rendered. Land and Building would also not be included while computing the machinery/equipments cost. SME would be meant to include Micro Small and Medium Enterprises (MSMEs). The above definitions of Micro, Small and Medium Enterprises would be in place of the existing definitions of Small Medium Industries and SSSBEs/Tiny Enterprises. Micro Enterprises would include Tiny Industries also. Small Enterprises (Manufacturing) would mean Small Scale Industries (SSIs). Medium Enterprises (Manufacturing) would mean Medium Industries (MIs). Small Enterprises (Services) and Medium Enterprises(Services) would mean other Small Medium Enterprises. Thus, SME Advances would be categorised as under: All advances to segments viz. Micro, Small and Medium Enterprises in the Manufacturing sector irrespective of sanctioned limits, (including advances against TDRs/Govt. Securities etc for business purposes to these categories of Borrowers), and Advances to Services Sectors such as Professional Self-Employed, Small Business Enterprises, and Small Road/Water Transport Operators and other enterprises, engaged in providing/rendering of services, conforming to the above investment criteria and -enjoying borrowing/non-borrowing facilities with the Bank (including advances against TDRs/Govt. Securities etc for business purposes to these categories of Borrowers). Those enterprises exceeding the investment ceilings would be categorized as Large Enterprises and be outside the purview of SME. The sanctioned limits would no longer be the criteria determining the status as micro or small or medium enterprises in these cases. Reserve Bank of India has since reviewed the definition on Priority Sector and have issued revised guidelines on lending to Priority Sector vide their Master Circular dated 2nd July, 2007. As per this circular Retail Trade is excluded from the activities classified as SME. (Source: www.bankofindia.com) Importance of SMEs Small and medium-sized enterprises (SMEs) are the backbone of all economies and are a key source of economic growth, dynamism and flexibility in advanced industrialized countries, as well as in emerging and developing economies. SMEs constitute the dominant form of business organization, accounting for over 95% and up to 99% of enterprises depending on the country. They are responsible for between 60-70% net job creations in Developing countries. Small businesses are particularly important for bringing innovative products or techniques to the market. Microsoft may be a software giant today, but it started off in typical SME fashion, as a dream developed by a young student with the help of family and friends. Only when Bill Gates and his colleagues had a saleable product were they able to take it to the marketplace and look for investment from more traditional sources. SMEs are vital for economic growth and development in both industrialized and developing countries, by playing a key role in creating new jobs. Financing is necessary to help them set up and expand their operations, develop new products, and invest in new staff or production facilities. Many small businesses start out as an idea from one or two people, who invest their own money and probably turn to family and friends for financial help in return for a share in the business. But if they are successful, there comes a time for all developing SMEs when they need new investment to expand or innovate further. That is where they often run into problems, because they find it much harder than larger businesses to obtain financing from banks, capital markets or other suppliers of credit. Boosting industrial growth By enhancing existing capacities, and by delivering cost-efficient goods and services as per the requirements of the local markets, SMEs have been driving industrial growth. Inspiring Consumption and Social Change SMEs play a defining role by offering reasonable, yet revolutionary goods and services to cater to the changing market requirements. Currently, SMEs have made its presence felt in areas like education, medical care, transportation, entertainment and local infrastructure development. Minuscule investment SMEs need low capital investment, in terms of per unit of output Increased Employment Opportunities SMEs generate both direct and indirect employment opportunities, in 2006-07, for instance, for every ten million rupees invested by the SME sector spawned employment opportunities for over 150 people. However, the same amount of investment carried out by the overall economy generated employment for just 37. 4 people. As per Government statistics in 2007-08, SMEs generated employment for 31.25 million people. Fuelling the local economy SMEs make use of natural resources and domestic skills to cater to the domestic market. The growth of SME sector also helps in socio-economic upliftment as it generates employment opportunities for untapped masses, living in urban and rural regions. Discourages migration to urban areas SMEs are synonymous for entrepreneurship. And the best part being setting up an SME doesnt include much risk. If SMEs generate employment opportunities in rural and semi-urban areas, migration to urban areas can be stemmed to a great extent. Transition from Agriculture Economy to Service-oriented one SMEs can play a crucial role in achieving the transition from a dominant agricultural economy to a service oriented economy, akin to Japan. Japans agricultural workforce has gone done from 68 percent to 4.9 percent, in case of United States, from 44 percent to 9 percent. Further, Indian agriculture sector can no longer generate extra employment opportunities to meet the requirements of the ever-growing population. In such a situation, only SMEs can come to the nations rescue. SME in the global scenario Even in the global scenario SMEs have always played a crucial role in their respective countrys economy. International comparisons reveal that SMEs create the majority of jobs. In the USA, nearly half of the private workforce is employed in small firms, of which three-fifth have less than five employees. In Japan, 78 percent of jobs are generated by SMEs. The same sector in Korea accounts for 99 percent of all manufacturing enterprises and 69 percent of employment in this sector. Therefore, SMEs must play a central role in the countrys employment strategy. This will require modification of policies and programmes to level the playing field, improve availability of credit, increase productivity, raise quality consciousness and competitiveness, and enhance job quality. Recent experiences of different countries in the context of globalisation also demonstrate that SMEs are better insulated from the pressures generated by the volatility of world trade and capital markets. They are more resistant to the stresses, and more responsive to the demands of the fast-changing technologies and entrepreneurial responses. Indeed, they are observed to be a very important vehicle for new technology adoption and entrepreneurial development. Ensuring the competitiveness of the SMEs is important as it would help in overall growth of manufacturing sector as also the national economy. The Indian Context The micro, small and medium enterprises (MSME) sector contributes significantly to the manufacturing output, employment and exports of the country. It is estimated that in terms of value, the sector accounts for about 45 per cent of the manufacturing output and 40 percent of the total exports of the country. The sector is estimated to employ about 42 million persons in over 13 million units throughout the country. Further, this sector has consistently registered a higher growth rate than the rest of the industrial sector. There are over 6000 products ranging from traditional to high-tech items, which are being manufactured by the MSMEs in India. It is well known that the MSMEs provide the maximum opportunities for both self employment and jobs after agriculture. Recognizing the contribution and potential of the sector, the definitions and coverage of the MSE sector were broadened significantly under the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 which recognized the concept of enterprise to include both manufacturing and services sector besides, defining the medium enterprises. For collecting and compiling the data for the MSME sector (including khadi, village and coir industries), the Fourth All India Census of MSMEs with reference year 2006-07, is being conducted in the country. The Census will provide the first database on the MSME sector after the enactment of MSME Development Act, 2006. PERFORMANCE OF MSEs As per the quick estimates of 4th All-India Census of MSMEs, the number ofenterprises is estimated to be about 26 million and these provide employment to an estimated60 million persons. Of the 26 million MSMEs, only 1.5 million are in theregistered segment while the remaining 24.5 million (94%) are in the unregistered segment. The State-wise distribution of MSMEs show that more than 55% of these enterprises are in 6 States, namely, Uttar Pradesh, Maharashtra, Tamil Nadu, West Bengal, Andhra Pradesh and Karnataka. Further, about 7% of MSMEs are owned by women and more than 94% of the MSMEs are proprietorships or partnerships. In view of the MSME sectors role in the economic and social development of the country, the Government has emphasized on its growth and development. It has taken various measures/initiatives from time to time which have facilitated the sectors ubiquitous growth. No discussion on MSMEs can be complete without a full treatment of the unorganized sector in which ent erprises are typically established through own funds or funds obtained through non-institutional sources, they lack managerial bandwidth, do not have established channels for marketing and are centered around a single traditional technology. More than 94 percent of MSMEs are unregistered, with a large number established in the informal or unorganized sector. The National Commission for Enterprises in the Unorganised Sector (NCEUS) defines unorganized sector as enterprise employing less than 10 workers. It has estimated such enterprises at 58 million with employment generated of 104 million persons. Of these, more than half the workers are classified as self-employed. A large segment in this universe of self-employed consists of those who are engaged in non-farm activities. This segment predominantly consists of own account enterprises, i.e., where there are no hired workers and are run by self with or without the help of unpaid family members. The own account enterprises can be dist inguished into those running within households and those outside the households. The household enterprises operate on the basis of family labour organizing production on its own, acquire its own raw material, use its own machinery and tools and market its products. Apart from own account enterprises, this segment also consists of enterprises having hired workers between 2 to 9. Very often, these enterprises are located in clusters but function independently without inter-firm linkages. The Office of the DC (MSME) provides estimates in respect of various performance parameters relating to the Sector. The time series data in respect of the Sector on various economic parameters, is incorporated in the following Table: MSEs Performance: Units, Investment, Production, Employment Exports The figures in brackets show the % growth over the previous year. Projected COMPARISON OF THE MSE SECTOR WITH THE OVERALL INDUSTRIAL SECTOR: The MSE sector has maintained a higher rate of growth vis--vis the overall industrial sector as would be clear from the comparative growth rates of production for both the sectors during last five years as incorporated in the Table given below: Comparative Growth Rates CONTRIBUTION OF MSEs IN THE GROSS DOMESTIC PRODUCT (GDP) EMPLOYMENT IN MSE SECTOR The total employment from the MSE sector (including SSSBEs) in the country as per the Third All India Census of MSEs with reference Year 2001-02 was 249.33 lakh numbers. The units operating with fixed premises are treated as MSEs. As per the estimates compiled for the year 2007-08, the employment was 322.28 lakh persons in the sector. The share of MSEs in the total employment among units engaged in manufacturing and services is around 34.93%. Challenges faced by smes Mentoring Advocacy Even today, most small business in India are set up by first generation entrepreneurs. They often have a product or service idea, some money, a zest to hard work but limited knowledge about markets, Government or bank procedures, cash flows or how to manage labour. This is where mentoring a hand holding support becomes crucial. At times, this comes from an individual such as friend, relative, an NGO or a parent unit. This is episodic and unable to meet the vast requirement which the country has. This is sought to be institutionalized through extension/outreach efforts of central and state Governments. Trained manpower is made available for this task, right down the district levels, to act as the friend, philosopher and guide. These resource persons guide in setting up a evit, making it commercially viable, interacting with financial institutions and understanding markets, as well as the impact of globalisation with advancements in it. There is a strong more towards linking SMEs with bigger commodity or supply chain and providing acceptable quality and delivery schedules. The Central Governments agency for the task, the Small Industry Development Organisation, has accordingly moved away from its pre-reform regulatory to a direct promotional role of hand holding, advocacy and facilitation. This encompasses the legislative support put in place, fiscal incentives and protection from unequal competition. Credit Credit is the lifeline of business. Small businesses lack access to capital and money markets. Investors are unwilling to invest in proprietorships, partnerships or unlisted companies. As risk perception about small businesses is high. So is the cost of capital, institutional credit, when available, requires collateral which in turn makes the owner of the unit even more vulnerable to foreclosure. Credit guarantee funds which assist lending institution in advancing loans or mutual guarantee systems involving common guarantees from a group of people have not emerged in a significant manner. Unit finances comes under severe stress whenever an occasional event such as a large order, rejection of consignment, inordinate delay in payment occurs. The common stereotype about a banker lending an umbrella in sunshine and wanting it back as soon as it rains, gets reinforced in their dealing with small enterprises. It is, therefore, not surprising, that small enterprises prefer to first tap own resources or loans from friends and relatives and theres look for external finance. In India, many of small manufacturing enterprises do not access bank finance and only about 16% of total bank credit finds its way to the sector. Despite being a priority sector for lending, small manufacturing enterprises get just about 8% of their annual turnover as working capital requirements, as against normative requirements of 20%. Even for this, cost of credit is high. The problem is recognized and is sought to be addressed through various ways: Establishment of ISO 9000 certified, specialized SSI bank branches in districts/clusters. Directive for working capital finance @ 20% of annual normative turnover. Waiver of collateral requirements upto Rs. 0.5 million. Setting up of a credit Guarantee Trust to cover loans upto Rs. 2.5 million. Composite loans from a single agency upto Rs. 2.5 million. A national equity fund for equity to SSI units at 5 percent service charge Technology As mentioned earlier, small enterprises are often regarded for their labour intensity and the capability to work with local resources. In the part, this has often led to less emphasis on technology. Run of the mill technology coupled with functional packaging and inadequate finishing have at times led to small sector products being labeled as being of poor or substandard quality. This has a cascading impact on competitiveness. As small enterprises realize the need to link up with large ones, they are having a relook at technology options which would improve productivity, effectiveness and competitiveness. While sourcing technology, small business need to concentrate on the following essential issues: Information about Technology For small units information about technology options is often through word of mouth or from a visit to an advanced unit. With the advent of internet, new vistas are opening up through electronic journey catalogue downloads and advanced search facilities. The technology bureau for small enterprise promoted with the assistance of the UN offers access to databases and information on technology. Technology intervention in clusters offers near by units an opportunity for a look and feel of advanced technology entrepreneurs are also assisted to participate in overseas trade fairs to update tem with latest worldwide. Tool rooms, testing centres, production-cum-process centres and workshops also assist in this task. Actual procurement of technology Barriers to import technology, technology transfer issues, vendor capability, after sales support, import procedures impede procurement. In India, the Asia Pacific Centre to Transfer of Technology promotes match making between buyer and seller and facilities procurement through escort services. Encouragement to import of capital goods has also helped. Finance for Technology upgradation Small enterprises look to external sources of funding for upgrading technology as withdrawing money from business entails its own costs. In India, a technology upgradation and modernization fund and a hire purchase scheme attempts to meet this requirement. These are however, funds at normal lending costs. A new scheme called the credit linked capital subsidy scheme, for reducing the cost of funds, has now been put into place. Market Access In todays world, small enterprises can hardly match the adventising support or distribution reach of a large corporation. In India, small units sell best in limited or neighbourhood markets or when they are meeting a low volume specialized demand which no large player can effectively caterto. Increasingly, now the endeavour is to build the marketing activity of small units around their competitive advantage i.e., products which are labour intensive, items which cater to niche markets, low volume high margin products, sub assembly tasks, outsourcing jobs and ancillarisation. Sub-contracting exchanges are being established through Government and Industry associations to promote such interface. After sales service for imported products, AMCs on electronic equipment, reverse engineering (to the extent that it is WTO compatible) are the other areas being encouraged, sophisticated marketing is a task best left to large players. Small enterprises in India are realizing that the term marketi ng perhaps implies different things to different people for new SME businesses, head on competition with established giants makes little sense. Infrastructure Small units have traditionally operated from homes or a neighborhood work shed. Slowly, they began moving out and clustering together wherever electricity, water, raw materials, markets or labour were easier to access. Policy makers in India had anticipated the need for suitable infrastructure five decades ago and began a programme for setting up industrial estates. Non-assessment of economic viability, tardy implementation and poor maintenance due to drying up of funds affected these adversely. Later in the post reform period, the problem was sought to be addressed by setting up of such estates exclusively for small business. Almost 50 such estates have been set up. Because of their better infrastructure such as roads, telecommunication, power, effluent treatment plants, power, banks, watch ward, and reasonable cost, they have proved to be popular with small manufacturing for factory accommodation, allotment of sheds on hire purchase as well as outright sale etc. A concerted move h as also now been initiated for upgrading existing estates. Globalisation The globalisation of trade commerce has been given a push by agreements in the WTO and changed the business environment. It has therefore become necessary to sensitise SMEs about these changes and prepare them for the future. In India, a number of steps have been taken in this regard. Apart from setting up a WTO cell in the nodal ministry, 28 sensitization workshops were conducted across the country. Workshops have also been held on intellectual property rights and bar coding. Monitoring of imports in specific sectors where SMEs hae a significant presence and initiation of anti-dumping action where dumping was noticed, are the other steps taken in this respect. Procedures Government and bank procedures coupled with inspections remain a major hurdle in growth of small units. There are over 60 central, state and local laws which regulate small businesses in the areas of labour, factory maintenance environment, municipal bye laws, taxation, power etc. These require the maintenance of as many as 116 registers and forms. To enforce these, there is an army of inspector who visit units leading to harassment, delay, obstruction and increase in cost of production. Many small units are one man shows and cannot satisfy the letter of the law. The streamlining of such rules and regulations has become necessary if the creative genius of Indian entrepreneurs is to be fully unleashed. Some state governments have exhibited initiative in this regard. The Central Government has initiated a study to enact a single law for small businesses. This enactment should ease the situation considerably. Exit Mechanism Like products, Industries too have life cycles. There are industry segments which have seen their best days. Similarly, there are individual units where no amount of additional funds will help. Their bank loans have become bad and non performing. A sound exit policy which also safeguards labour interests has therefore, become necessary. It is anticipated that as of 1998, over Rs. 3.8 billion were locked in sick/weak units. An exit policy would help fresh circulation of a significant amount. The first steps in this regard have been taken recently by Indias central bank where by one time settlement of dues as on 31 March, 1997 was allowed. The results have been encouraging. Strategy Interventions for Revitalisation and Growth Significant charges in economic environment are being heralded in by the WTO. The removal of QRS has led to increased competition with imports. Many sectors of industry are facing competition from Chinese or Taiwanese imports within the country or from Bangladesh Srilanka or Nepal in export markets. It is the belief of the Indian Government that promotion and not protection is the answer to the issues of survival and growth. Thus, while reservation of items for exclusive production continues, the focus must now be on strengthening capabilities. This implies a holistic look at the concerns of industry. As part of this, the following strategic interventions have been initiated Easing access to general credit Introduction of options of limited partnership and factoring Subsiding cost of finance for upgrading technology Industry specific technology upgradation programmes Fund for developing and accessing overseas markets for export Expanding reach of infrastructure programmes Ushering in a regime of self certification in lien of inspections for various regulations Interventions in the future require that hurdles to growth are removed. They must encourage a seamless movement from small to medium to large. The Indian Government, therefore, is working on a new vision for the SSI sector through a flexible approach and a motivated team. The advocacy role of Government now involves new dimensions such as building up and arguing cases before the world trade body or dispute redressal for a, articulating needs of small enterprises before decision makers and other agencies. Credit is increasingly being made available at international rates. Technology upgrades at both the cluster and the individual level are being assisted. Cluster level technologies will be at Government cost with only user charges recovered credit guarantee scheme has been put in place if our market has opened up to due to WTO, we need to enable our small units established foot holds in new markets opened up for then by globalisation. Thus, along with improving quality, they are being given the opportunity of over seas travel, conducting market surveys, test marketing etc. The existing industrial centres are being revamped by involving industry associations with some government assistance and finally a migration from sunset industries to sunrise industries is being encouraged through a comprehensive and graceful exit policy, which balances interest of labour with those of the owners. Conclusion The singular contribution of SMEs is on account of their unique characteristics. Their role in economic activity is manifest in both tangible and intangible ways. If this contribution is to be sustained, then their uniqueness needs to be nurtured in an overt and explicit manner. The Indian experience has shown that it is possible to design targeted interventions be they area specific like clusters or be they sector / sub-sector or product-specific. Other countries, be they Asian or OECD, also have policies which aim at similar support. The need of the hour is for us to learn from each other, drawing upon experiences and identity best practice policies. These in turn have to meet local conditions and circumstances. A one size fits all approach will not work. Nevertheless, there can be no two opinions about the priority that SME policies deserve for achieving the socio-economic goal of employment growth and social justice, along with the individual aspirations. Recent Government Policies and Measures In addition to the growth potential of the sector and its critical role in the manufacturing and value chains, the heterogeneity and the unorganised nature of the Indian MSMEs are important aspects that need to be factored into policy making and programme implementation. There is considerable segmentation among the MSMEs in terms of their size and need tailor made policies for each size class. The policies and programmes for the micro and small enterprises in the sector would need to address their survival strategies and should be in the direction of providing livelihood alternatives such as social security, skill formation and credit. On the other hand, policies/programmes for the larger sized MSMEs need to address issues relating to growth marketing, access to raw material, credit, skill development and technology upgradation. Some of the recent policy measure are: A single comprehensive legislation for the promotion, development and enhancement of the competitiveness of the MSME sector Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 came into effect from October 2006. National Manufacturing Competitiveness Council (NMCC) was set up to energise and sustain the growth of the manufacturing industry. New Promotional Package for MSMEs, and focus on accelerating development of clusters. Revised strategy of lending and introduction of newer measures, such as the scheme to establish Small Enterprises Financial Centres (SEFC) for strategic alliance between branches of banks and SIDBI located in 388 clusters identified by ministry of SSI. SME Fund of US$ 2.27 billion operationalised. Proposal for doubling the credit flow to MSME sector in next 5 Yrs. Promotion and financial support for Credit-cum-Performance Rating in MSME sector in India, to facilitate greater and easier flow of credit from the banking sector to SMEs. The National Commission for Enterprises in the Unorganized Sector (NCEUS) has been set up as an advisory body and a watchdog for the informal sector to bring about improvement in the productivity of these enterprises for generation of large scale employment opportunities on a sustainable basis, particularly in the rural areas. Facilitation of technology transfer through the Technology Bureau for Small Enterprises (TBSE) Accelerating initiatives to address various developmental needs for MSMEs in the 11th Five Year Plan. Scheme of Fund for Regeneration of Traditional Industries [SFURTI] Guarantee coverage under Credit Guarantee Fund for Small Enterprises expanded substantially Credit Linked Capital Subsidy Scheme for Technological Upgradation. New legislation on Limited Liability Partnerships. Emphasis on bi-lateral/ multi-lateral partnerships at multiple levels. Merger of the Ministry of SSI with the Ministry of ARI. Earmarked 40% of net bank credit of public and private sector banks for the priority sector, which include SMEs. Earmarked 32% of net bank credit of foreign banks for the priority sectors, of which 10% is allocated to SMEs . SME policy initiatives in 2009 A continuous attention to ongoing schemes to assist MSME has demonstrated success in several areas. However, the Ministry of MSME and other government departments are still working hard to pull the sector out of the recession and overcome some inherent problems. Several of the schemes started by the Ministry of Micro, Small and Medium Enterprises (MSME) to promote the development of micro, small and medium enterprises in the country saw success this year. This article outlines some progress areas in 2009 that have made a positive impact on MSMEs, especially during the painful process of recovering from an economic recession. Better credit flow The Policy Package for Stepping up Credit to Small and Medium Enterprises (SME) was set up by the government in August 2005 for doubling the credit flow to the MSME sector within a period of five years. Credit flow from Public Sector Banks (PSBs) to this sector has increased from Rs.67,634 crore at the end of March 2005 to Rs.1,91,307 crore at the end of March 2009. Skill development on priority Various measures like enhancing the training capabilities of the Tool Rooms, MSME Development Institutes and other organizations under the Ministry of MSME have helped to train nearly 2.61 lakh trainees during 2008-09. The target set for 2009-10 is to train 3.2 lakh persons, with several programs organised free of cost for the weaker sections of society. Improving competitiveness Six out of the ten components under the National Manufacturing Competitiveness Programme (NMCP) for MSMEs are now operational. These are (i) Quality Management Systems and Quality Technology Tools, (ii) Building awareness on Intellectual Property Rights, (iii)Support for Entrepreneurial and Managerial Development of MSMEs, and (iv)Marketing support/assistance to MSMEs (v)Lean Manufacturing Competitiveness Scheme and (vi) Mini Tool Room Scheme. Success of credit guarantee scheme MSMEs are often unable to provide collateral as security to procure loans. The governments credit guarantee scheme has been rather successful because of timely interventions to make the scheme more attractive to lenders and borrowers. For instance, the loan limit was enhanced from Rs.25 lakh to Rs.100 lakh, the one-time guarantee fee was reduced from 2.5% to 1.5%, etc. Success can be gauged from the data on increased coverage. From about 40,000 proposals received (for loans of Rs.1000 crore) at the end of March 2004, more than 2.27 lakh proposals (for loans of over Rs.8200 crore) at the end of November 2009. Capital Subsidy spreads coverage Under the Credit Linked Capital Subsidy Scheme for Micro And Small Enterprises (CLCSS), 15 per cent capital subsidy is provided on loan amounts upto Rs. 100 lakh for technology upgradation. From the 47 products/sub-sectors with nearly 1400 well-approved technologies/machines for subsidy under the scheme, now 179 new technologies machines for pharma sectors have been added to this list. Until October 2009, 7810 proposals of subsidy were approved and Rs. 338.68 crore was released to the MSEs under the scheme. Quality improvement on priority The ISO-9000/ISO-14001/HACCP Certification Reimbursement Scheme is an incentive scheme to upgrade technology and improve quality that provides for one time reimbursement of charges for acquiring ISO-9000/14001/HACCP (or its equivalent) certification to the extent of 75% of the cost subject to a maximum of Rs. 75,000/- in total. Decentralised in 2007, the scheme saw growing popularity in 2009, with about 690 units amounting to Rs. 2.88 crore being reimbursed uptil November 2009 during 2009-10. Employment generation The Prime Ministers Employment Generation Programme (PMEGP) was launched in August 2008 with a total plan outlay of Rs. 4735 crore including Rs. 250 crore for backward and forward linkages. Around 38 lakh additional employment opportunities in the terminal four years (2008-09 to 2011-12) of XI Plan are expected. The program provides financial assistance to set up microenterprises costing upto Rs. 10 lakh in service sector and Rs. 25 lakh in manufacturing sector in the form of subsidy upto 25 per cent of the project cost in rural areas and 15 per cent for urban areas. Until March 2009, 2,17,762 applications were received under PMEGP, of which 83,454 candidates were selected. About 36,444 projects were sanctioned financial assistance by banks for generating an estimated 3.64 lakh additional employment. Loans were disbursed in 25,507 cases by banks giving employment opportunities to about 2.55 lakh persons until 31st August 2009. About 4.5 lakh additional employment will be generated i n 2009-10. Budget 2010 Implications and SMEs The Small and Medium Entrepreneurs (SMEs) was benefitted in many aspects as the Union Budget 2010 has given them several tax concessions and benefits. Thought there still exists room for improvement and many items of the SME wish-list did not find place in the Budget. ax Rates: From a direct income-tax rate perspective, the proposed reduction of surcharge for Indian companies from 10% to 7.5% is a welcome initiative but provides only marginal relief. The proposed increase in the basic rate of Minimum Alternate Tax (MAT) on Book Profits from 15% to 18% will put additional strain on small companies. The beneficial revision of income-tax slabs for an individual will increase the take-home for an individual who carries his business in proprietary or partnership form. Provisions relating to Limited Liability Partnership: The Limited Liability Partnership (LLP) under the statute enacted in March 2009 is currently the most tax friendly form of business entity for SMEs. This is because it stands protected from the levy of Dividend Distribution Tax and Minimum Alternate Tax which are applicable to Companies. With the advent of LLP, several small private limited companies desired to convert into LLP but did not so due in absence of beneficial tax provisions. The Union Budget 2010 proposes to introduce several provisions to grant tax neutrality to such conversion subject to certain basic conditions. Income tax holidays: The SME Sector was expecting grant of tax holiday with respect to support and services provided to IT / ITes Sector on the same lines as eligible to them for exports. However, the sunset date of 31 March 2011 for the Tax Holiday for exports from STP and EOU units itself has not been extended. This is likely to disappoint the IT / ITes Sector including the SMEs who provide services or support thereto. Further, the competitive advantage that India has so far which is already facing challenges from several other countries is likely to undergo further strain in this scenario. Withholding taxes and deduction linked thereto: An expense would now be tax deductible so long as the underlying taxes deducted at source in a financial year are deposited on or before the relevant due date for filing of the return of income. It would be more beneficial if such provision would have been retrospective in nature. This is a welcome provision though the corresponding interest levied on belated payments is to be enhanced to 18% p.a. as against the current 12% p.a. Other provisions: The thresholds for deducting tax at source have been revised to a more realistic basis. However, it was expected that the SMEs would be eased of the burdensome withholding tax compliance requirements. The Small and Medium Enterprises (SMEs) will benefit from the increase in the threshold limits for tax audit which are to be enhanced to Rs. 60 lakhs (current ceiling of Rs. 40 lakhs) for business undertakings and Rs. 15 lakhs (current ceiling of Rs. 10 lakhs) in cases of professionals. However, these thresholds are still too low and a higher threshold of atleast Rs. 1 Crore is warranted and can still be considered at the enactment stage. Conclusion The Finance Minister has been considerate by giving attention to the SMEs by proposing relief / rationalization but the Union Budget 2010 could have been more attractive for the SMEs, had it given further incentives such as higher or rational tax depreciation on assets, progressive basis of taxation like individuals and several such benefits. Budget implications: Let me, at the outset, say that though overall it is a progressive budget with clear focus on infrastructure, agriculture and inclusiveness, it does not mean much for the MSME sector. For the micro, small and medium enterprises, although there has been an apparent increase of approximately Rs. 800 crore, some of the major announcements which were expected in the budget were sorely missing. It was expected that the MSMEs would atleast get a 50% reservation out of the total quota of 40% reservation of the priority sector lending. Internationally, in most of the developed/ developing countries, MSMEs get between 40% and 60% of the banking loans, whereas in India, it languishes between 8 10%. This is the biggest reason for MSMEs to not be able to grow, turn sick, or resort to taking money from the parallel economy at much higher rates. There seems to be a lack of this understanding despite the fact that the government has announced that a high-level national council will be formed to oversee the implementation of the recommendations of Prime Ministers Task Force on the MSME sector. It is also very sad to see that while a small or medium farmer, who is also a businessman is extended huge benefits, the unorganized and micro enterprises in the country do not get the same treatment, though they may be needing the support more than that farmer. The credit support program of the MSME Ministry, which runs the Credit Guarantee Fund Scheme, has got an additional budget of about Rs. 73 crore i.e. the planned expenditure under this program has gone up from Rs. 99.12 crore to Rs. 172.75 crore. Through this scheme, the guarantee cover is provided for collateral-free credit facility, extended by Member Lending Institutions (MLIs), to the new as well as existing small enterprises on loans of upto Rs. 1 crore. While the objective is laudable, the fact remains that MLIs really have no compulsion or incentive to extend this facility to the needy small entrepreneurs, because in reality, the Credit Guarantee Trust doesnt move fast enough to settle the issues related to the bad-debts, if any. The allocation to Quality of technology support institutions and programs has been raised from Rs. 251.64 crore to Rs. 333.50 crore. This, according to me, may not be at all enough to upgrade the tool-rooms and technical institutions of the 24 very important institutions and 4 programs that run under this scheme, namely Credit Linked Capital Subsidy Scheme, ISO Reimbursement Scheme, Schemes of National Manufacturing Competitiveness Program and Vertical Shaft Brick Kiln technology. The conditions of the various tool rooms and technology centres actually have to be seen to be believed. If machines have come, there are no specialists to operate them; and if machines specialists both are present, then there are no funds to run these centres. Hence, the very purpose of the existence of these centres is defeated. It is also surprising that the National Commission on the Enterprises in the unorganized and informal sector has zero allocation in this years budget, though till last year, it had a Rs. 1 crore budget. The Rajiv Gandhi Udyami Mitra Yojna, which provides handholding assistance to designated nodal agencies, namely Udyami Mitras, for providing handholding support to first-generation entrepreneus in dealing with various procedural and legal hurdles, has got an allocation of just Rs. 7 crore. MSME Cluster Development Program, under which, special emphasis has been given to comprehensive development of clusters, including infrastructural development has seen an increase of about Rs 25 crore taking the total expenditure to Rs. 50.50 crore. But for a country of our size, this may be spread too thin and too wide to really have any major impact. The special scheme recommended by PMs Task Force has got an allocation of just Rs. 1 crore in this years budget. It has a massive agenda for immediate action to provide relief and incentives to MSMEs accompanied by institutional changes and detailing of programs in a time-bound manner. In addition to this, it also has suggested setting up of appropriate legal and regulatory structures to create a conducive environment for entrepreneurship and growth of MSMEs. It also has a task of setting up a special fund exclusively for micro-enterprises, and introduction of public procurement policy, which mandates government and PSUs to reach a target of 20% purchases from MSMEs. How all this can be achieved with an organization backed by Rs. 1 crore budget for the whole of 2010-11 is almost impossible for me to understand. There have been some major additions of about Rs. 1300 crore in Khadi and Coir Board Industries but like last year, and the year before, both these sectors have spent 20-25% lesser than the budget that was allocated to them. Some other initiatives which have been taken overall but will affect the SME sector positively are: Extension of packing credit interest subvention of 2% for another year, Raising of Audit requirement limit from Rs. 40 lakh to Rs. 60 lakh, and for professionals from Rs. 10 lakh to Rs. 15 lakh, Exemption from capital gains on conversion from general partnership to limited liability partnership, A one-time grant of Rs. 200 crore to Tirupur Textile Sector, Government initiative to give more banking licenses and extend banking service for the under-banked and un-banked segments of the society, Agreement signed with ADB for US$ 150 mn to implement Khadi Udyog Reform, Doubling of corpus of micro-finance development and equity fund from Rs. 200 crore to Rs. 400 crore, Allocation of Rs. 1000 crore to the National Social Security Fund for the employees of the unorganized sector. Despite some sporadic initiatives visible here or there in this budget, there clearly seems to be a lack of a coherent approach towards a sustained development of the MSMEs. Lets hope that there will be more focus, which will come up in the future for the hidden jewels of India, who have always got more lip-service than real support from the powers that be. Impact of Recession On SMEs The current meltdown of global financial and commodity markets begun with the fall of housing markets in USA leading to collapse of the sub-prime market in August 2007. The problems later on engulfed the entire financial and commodity markets throughout the world leading to a serious liquidity crisis and most of the developed economies going into recession including USA, UK, and Japan. It also led to slowdown in emerging economies like India and China as most of their growth was either due to exports to developed markets like USA or due to foreign investments. Fall of credit markets in US and Europe resulted in foreign investors pulling back their investments leading to a sharp fall in equity indexes around the world. Coupled with this the RBI followed a tight monetary policy by increasing the key rates like Repo, reverse repo and CRR resulting into a serious liquidity crunch in the domestic markets. The impact on MSME sector of the above can be understood as under: Slowdown in key markets like USA, Europe and Japan resulted in decline in demand for goods produced by export oriented enterprises hence directly affecting their revenues and profitability. Due to overall increase in risk perception and liquidity crunch in the domestic markets the cost of funds has increased considerably for the MSMEs to more than 15% now. Many MSMEs did a lot of capacity building during the boom time, a significant amount of which was financed by debt increasing the interest cost significantly. Such companies are facing liquidity pressures due to decrease in demand for their products and unavailability of alternative sources of finance. The big financial firms in US and Europe were the key clients of Indian BPO and KPO industry. The collapse of big banks like Lehman Brothers, Bear Sterns etc. led to immediate cut down of their business seriously affecting the outsourcing industry. Export oriented auto ancillary manufacturers have been the worst affected due to fall in demand of vehicles resulting as a result of high oil prices during the first 9 months of the year and a general economic slowdown. MSME sector in any country including India comprises of almost 90 per cent of all the enterprises. In India, MSME sector accounts for 40 per cent of exports, 45 per cent of the industrial production and contribute 8 per cent to the GDP. This sector employs an estimated 31 million persons and has been growing at the rate of 12 per cent per annum. MSME sector of India has felt the tremors of global crisis in varying manner. For the first time we heard stories of distress in the most famous diamond cutting polishing industry in Surat Navsari in Gujarat. Moradabad brassware industry that contributes to almost one-third of all handicraft exports from India has also been facing the distress like situation over the last two years, accentuated further by the recent economic slowdown. The other export oriented sectors dominated by small enterprises, particularly in the readymade garments, textiles, leather and engineering have also faced considerable downfall in the last few months of the f inancial year 2008-09. The energy intensive sectors like foundry, ceramics, re-rolling of metals, electro plating and food processing have faced high degree of turbulence thanks to high fluctuations of crude prices and metal during the year. For the month of February 2009 the export figure of India has hovered around 11 billion US $ where as for the same month in the year 2008 it stood over 15 billion US $. The story is similar for the other 5 months of the last financial year. Recommendations To unleash the Indian manufacturing SME`s, on one hand we need to address the structural and institutional weaknesses in the system and on another we will have to equip and provide them assistance for bracing global competition unabashedly. We believe that manufacturing capabilities and exportability are inter-related and mutually reinforcing. Sustainable competitiveness cannot be achieved only by provisioning of short term measures such as currency manipulation or hedging or SWAPs. In medium and long term, competitiveness could only be ensured by increasing productivity and reducing transaction costs in economy. There are some key exogenous and endogenous factors that stifle manufacturing growth and limit exportability. Following are some of the recommendations to the SME groups which have come out as a result of the analysis of the entire study. The measures suggested aim at improving the current situation of SME`s. 1.SME Audit of Laws Constitute a mechanism whereby all laws and bills go through mandatory SME Audit (on lines of US and EU) pre-empting negative fallout of existing and emerging regulations. On an average the accounting activities of the SMEs has been found to be fairly slow since on an average it was found it takes around 50 days to prepare the balance sheet one the annual account closes. This is primarily because the accounting activities are primarily taken care by an external CA who seems to be overburden with all the financial and accounting activities of the company. The SMEs can think of keeping a separate small accounts team to manage the activities efficiently and quickly. It is recommended that all companies should do budgeting for every year have financial planning for various functional areas for each year. 2.Labour Laws Many states follow a flawed mechanism of determining Minimum Wages based on sectors in which a worker is employed. Therefore, a worker in engineering sector is entitled to a different rate than the one in food processing sector. Nationally let there be a consensus on three issues: Base minimum wages on rational criteria and not sectorally or specific to industry (unlike the current situation in many states where a worker in Engineering sector is entitled to a different rate than the one in food processing sector) Allow Contract labour(as already in many states) Provide an option to SMEs for using market based mechanism for ESI and PF and after having contributed let them be freed from keeping records and unnecessary formalities. (ESI in particular is one of the most useless schemes where huge contribution goes waste in dilapidated ESI infrastructure that nobody uses.) 3.Seamless movement of goods across states Establish unified Regulatory Agency to ensure seamless movement of goods across states. Railways monopoly on freight movement needs to be broken. Un-bundle Railways (like Power sector) along operational lines into three separate independent operational companies: Railway stations, tracks and services of carrying goods and passengers (on lines of UK). Tracks and stations should be available for universal use on fee basis. Let private companies start carrying the export cargo first. 4.There has been a shortage among most of the SME s in tracking and reporting important factors like innovation and loss of productive time because of labour, power and material. Innovation as perceived by most of the SMEs has been launching of completely new products. However tracking and reporting internal innovation in terms of cutting down cost does not seem to be a focus area of majority of the SME s. This needs to be taken care. 5.Managing attrition seems to be an area that SME group does not lay much emphasis on. Although SMEs have a lot of contract labours, there has been a significant number of permanent employees who left the companies last year. Hence there should be employee friendly policies which would help SME s retain employees for long. 6.Alternative Avenues to SME financing: Highlighting the emergence of risk capital funds and equity funds for SME financing compared to conventional borrowing, adding that there is a need to create more alternative SME financing techniques for sustainable double digit growth. An SME exchange with appropriate framework was needed, besides primary and secondary markets for SME, simplification of NRI investment policy and the Foreign Exchange Management Act, implementation of the MSMED Act and lobbying for the enactment of Limited Liability Partnership Act (LLP Act), emphasizing the need for increased FDI participation in SME sector through removal of the 24 per cent cap on FDI investment in companies according to present policy. 7.Improve Industrial infrastructure Step-up building of hard infrastructure. Neither the current outlay and nor the institutional and operational mechanisms are commensurate to address huge existing gaps Urgently renew focus on creation of industrial areas with basic infrastructure an area now languishing for over 15 years because of lack of attention ( Creation of SEZs will not improve SMEs plight) Cede the administrative and tax collection powers to associations to maintain the Industrial Areas in PPP mode (there are already successfulmodels in India) 8.Easy access of capital for less matured companies or start ups. Induce massive competition in financial sector opening it up to foreign banks and lifting restrictions unilaterally. Establish independent Regulatory Authority for Banks and Finance Institutions to induce competition and improve service quality and let RBI concentrate management of larger macro-economic issues d. Regulate the Rating Companies for better service codes, their rating models and pricing. Do not let monopolies build in this domain. 9.Significant improvement in infrastructure needed especially power. Improve access to economically priced and adequate Electricity Support collective SME initiatives for distribution of electricity in geographical concentrations, industrial areas and clusters Remove policy impediments in open access particularly levy of subsidy element on collective initiatives Accord top priority on providing electricity to manufacturing units ( as has already been done in a few states) 10.The creation of a Single Window facility that takes care of all issues concerning water, electricity, labor, land etc and is fast enough to respond to the needs of these SMEs. Many promoters cited the case of China, where it takes two days to start a new business. 11.Provide Representation to SME bodies Provide due representation to SMEs in Prime Ministers EconomicCouncil, Board of Trade and other Trade related decision making bodiesin Ministry of Commerce for better appreciation of their needs in policydecisions (none of SME bodies are represented in these committees). 12.Education and Skilled workforce SMEs are suffering from acute skill shortages. Most ITIs have become redundant. The recent ITI upgradationprogramme is not SME need sensitive and is likely to have only marginal impact. Fund district-wise skill deficiency mapping exercise and invite private parties to train people, develop skills, get them third party rated and pay fee based on success. ( there are already successful initiatives at a few places particularly in Gujarat) Fund Audio-visual and print aids for skill enhancement ( on lines of US) and create channels for continuous skill developmentcoupling it with distance education. Fund massive skill identification and grading programme for those not having any formal education but possessing requisite skills (on lines of recent UNDP sponsored programme for leather craftsmen in Agra wherein 62,000 skilled craftsmen were identified and graded on skill level and ID cards issued to 47000 of them). 13.Taxes Area based exemptions create huge disparities with in India. The current dispensation rewards inefficient companies and punish efficient ones. SMEs suffer most in such conditions. Phasing out of Entry Tax and the speeding up of the process to introduce a nationwide GST or General Sales Tax, wherein an industrialist or an entrepreneur has to pay uniform tax, whichever part of the country he operates in. 14.Bankruptcy and Insolvency Codes Put in place the modern bankruptcy and insolvency codes reflecting the needs of ruthless competitive markets and uncertainties in globalization so that while entrepreneurs are encouraged to take risk, lenders are confident of quick disposal of cases and repossession of assets after failure. 15.Stamp Duties High stamp duties on transfer of property and on commercial transactions such as on financial instruments create huge cascading effect. Harmonize the Stamp Duties across states and drastically reduce them. 16.Comprehensive Programme for Internationalization of SMEs Some Indian SME`s are unaware of the brand creation.