Inflation and Statistics - Class 11/12/CBSE/Economics/Newspaper in use

Date - 20/June/21

Key Words

Inflation

Statistics

Presentation

Tabulation

Price Rise

Effect of price rise

Use of statistics

Data Analysis

Article reading

Newspaper in use

India ranks 43 on competitiveness index-Lesson Plan-Economics-Class 09-12/General Reading

#lesson

#plan

#growth

#index

#debate

The lesson starts with the reading of this paragraph taken from The Mint -Dated 18/6/2021

India’s position has remained unchanged at 43 for the third year in a row in the World Competitiveness Ranking by Switzerland-based Institute for Management Development (IMD). 

The annual ranking of 64 countries assesses the extent to which a country promotes the prosperity of its people by measuring economic well-being through hard data and survey responses from executives. 

Among the four indices used, India’s ranking in government efficiency increased to 46 from 50 a year ago, while its ranking in other parameters such as economic performance (37), business efficiency (32) and infrastructure (49) remained the same.

The student can read this article in detail

Discussion based questions

Q1 What is the most important factors which you think can affect economic growth?

Q2 How much role does government plays in improving this index?

The students can also look at the graph as presentation of data and staistics

LESSON PLAN - ECONOMICS -EASE OF DOING BUSINESS_INFRASTRUCTURE_CORRELATION_CBSE_KNOWLEDGE

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KEY WORDS

#INFRASTRUCTURE

#HUMAN CAPITAL

#BUSINESS

#LEARNING

#CORRELAATION

#DEBATE

#FDI

#STATE GOVERNANCE

#EASE OF DOING BUSINESS

#GENERAL STUDIES

#GK

#UPSC

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Bibliography-Do visit the various websites for the more detailed information of the topic

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1) Ease of doing business index - Wikipedia

2) Is Ease of Doing Business ranking over-rated? - The Hindu BusinessLine

3) Rankings (doingbusiness.org)

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INTRODUCTION

Q1  What is ease of doing business ranking?

The ease of doing business index is an index created jointly by Simeon Djankov and Gerhard Pohl, two leading economists at the World Bank Group. The academic research for the report was done jointly with professors Oliver Hart and Andrei Shleifer. Higher rankings (a low numerical value) indicate better, usually simpler, regulations for businesses and stronger protections of property rights.

Q2 Who conducts the ease of doing business index?

World Bank 

Q3 What is the current EODB Index for India?

63

Q4 What position does Narendra Modi wants as the prime minister of India to be our country in the table

Under 50

Q5 Does NITI AAYOG comes out with a state level EODB ranking

Yes

The annual ranking, in 2019, evaluated States on an 80-point check-list of reforms across 12 broad areas.

Q6 Do you think that there exist a correlation between ease of doing business and the flow of Investment

There is hardly any correlation between the ranking and flow of investments. According to Centre for Monitoring Indian Economy (CMIE) data, Tamil Nadu got 15.9 per cent of all investments as of the third quarter of FY21. Its EoDB ranking in 2019 was 14. Maharashtra, which came next with 9.8 per cent share, was ranked 13 and Gujarat with 8.6 per cent was ranked 10 while Karnataka with the same share was 17 in the EoDB pecking order. Andhra Pradesh (AP), which tops the EoDB ranking, got only 6.8 per cent of the investment flow while Uttar Pradesh, ranked second, got 5.3 per cent share and Telangana just 4.3 per cent though ranked third in Ease of Doing Business. 

Q7 Does it stands true for global ranking and investment

India, despite its poor World Bank EoDB ranking of 142 in 2014, was the ninth largest recipient of foreign direct investment (FDI). By 2019, it had dramatically improved its ranking to 63 but it still continued to be ninth in the FDI sweepstakes. 

Q8 What are the factors which are contributing to global investment in India?

Global investors came to India because of its attractiveness as a large market with a burgeoning middle-class and a production cost that was far lower thanQ9  mature economies. 

Q9 Which country topped the FDI inflows

Ans China tops when it comes to FDI flows taking in $141 billion in 2019 despite being ranked 31 while New Zealand, No 1 in the EoDB ranking, managed FDI of just $5.4 billion, a tenth of what India got.

Q10 Why Tamil Nadu topped the flow of investment 

What role does infrastructure plays in the development of FDI

The necessary building blocks. It has good connectivity: three ports near Chennai alone, more than one international airport and a strong road network. It has the necessary eco-system, especially the vendor base. Auto majors such as Ford, Hyundai, Renault, Nissan, Ashok Leyland and BMW, which have set up their manufacturing facilities in and around Chennai, get almost all their supplies from within a 100-kilometre radius of their plants.

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Role of Infrastructure

A top rank without the basic infrastructure — connectivity, strong eco-system, skilled manpower and lower cost of production — is of no use to the investor, domestic or foreign.

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Case Study where the role of infrastructure has played a very important role

Sri City, which was founded in 2008 in one of India’s most backward districts, has now become one of the coveted business destinations in the country with total investments close to 4 billion USD and total exports exceeding 500 million USD till date. Located 55 km north of Chennai, Sri City boasts of seamless connectivity by road, air and sea ports.

Spread over 7500 acres, Sri City includes a multiproduct Special Economic Zone (SEZ), a Domestic Tariff Zone (DTZ), a Free Trade & Warehousing Zone (FTWZ) and an Electronics Manufacturing Cluster. Sri City is home to over 185 companies from 27 countries including multinationals like Kellogg’s, Isuzu, Mondelez, Pepsi, Alstom, Kobelco, Foxconn, Danieli etc.

LINK TO VISIT THE WEBSITE

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http://www.sricity.in/en/why-sri-city/

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Extra work - 

Visit the website and explore the following terms

1) Centre for monitoring Indian Economy

2) Governance Index

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pankajbhanwani@gmail.com

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