Commerce Eductaion

COMMERCE EDUCATION PROSPECTS AND
CHALLENGES
Dissertation submitted in partial fulfillment of the requirements for the award of
the Degree of
MASTER OF COMMERCE
of
DAVANGERE UNIVERSITY
By
Ms. Vidhya K.C.
Reg. No: MC191566
Under the Guidance of
Ms. USHA, M.Com., (Ph.D.)

ASSISTANT PROFESSOR
DEPARTMENT OF STUDIES IN COMMERCE
P.G CENTRE, JNANAGANGOTRI,
CHITRADURGA-577502
DAVANGERE UNIVERSITY
2020-21
Davangere University
P.G Centre, Jnanagangotri,
Chitradurga-577502
DECLARATION
I hereby declare that “Commerce Education Prospects and

Challenges” is the result of the project work carried out by me under the
guidance of Ms. Usha in partial fulfillment for the award of Master
Degree in Commerce by Davangere University.
I also declare that, this project is the outcome of my own efforts and that
it has not been submitted to any other university or institute for the
award of any Degree or Diploma or Certificate.
Place: Chitradurga Name: Vidhya K.C.

Date: Reg. No. MC 191566
Davangere University
P.G Centre, Jnanagangotri,
Chitradurga-577502
CERTIFICATE OF ORIGINALITY
This is to certify that the dissertation titled “Commerce Edcation
Prospects and Challenges” is an original work of Ms. Vidhya K.C.
bearing University Register Number MC191566 and is being submitted in
partial fulfillment for the award of the Master Degree in Commerce of
Davangere University. The report has not been submitted earlier either
to this university / Institution for the fulfillment of the requirement of a
course of study.
Signature of the Guide Signature of the Chairman

Ms.Usha M.Com., (Ph.D.) Dr. Srinivas K.T M.Com., Ph.D.
Assistant Professor Associate Professor
Signature of the Course Coordinator

Dr. Sathyanarayana M.Com., M.Sc.,Mphil.Ph.D.
Associate Professor
ACKNOWLEDGEMENT
With immense pleasure, I take this opportunity to acknowledge the many

revered people behind the success of my project, which was a rewarding and
memorable experience.
I express my gratitude and sincere thanks to my guide Ms. Usha, Assistant
Professor, Department of Studies in Commerce, Davangere University, P.G
Centre, Jnanagangotri, Chitradurga, for rendering her invaluable guidance, her
scholarly suggestions, encouragement and friendly advice have enriched my work
in every aspect of the project. I express my soulful thanks to Dr. Sathyanarayana,
Associate Professor & Coordinator, Department of Studies in Commerce,
Davangere University, P.G Centre, Jnanagangotri, Chitradurga for his precious
support for successful completion of the project.
I extend my thanks to Dr. Srinivas K.T, M.com., Ph.D., Chairman, Department of
Studies and Research in Commerce, Shivagangothri, Davangere. My heartfelt
thanks goes out to our college Librarian who has helped me at every movement by
providing books, magazines, etc.
My heartfelt thanks and love goes out to my beloved parents, Brother- in-
law, sisters, office staff, and my friends for standing behind me providing moral
support and helping me in every possible. I thank to the respondents for their
valuable suggestions and I express thanks to all those who are directly and
indirectly responsible for the completion of this project work.
Place: Chitradurga
Date: Vidhya K.C.
CONTENTS
SL NO. TITLE PAGE NO.
1. Introduction 01 – 06
2. Review of Literature 07 - 17
3. Theoretical Background of Commerce Education 18 - 34
4. Overview of Commerce Education 35 - 74
5. Findings, Suggestions & Conclusion 75 - 80
6. Bibliography 81 - 82
LIST OF TABLES
TABLE NO. TABLE NAME PAGE NO.
3.1 Pattern of Commerce Education in India 20
4.1 List of best Educational Institutions of India 40
under Public & Private category
4.2 Higher education matrix 42
4.3 Affiliating Universities (Established before 42
1987)
4.4 Newly established affiliating universities (After 43
2003)
4.5 Affiliating Professional Universities 44
4.6 Number of Universities, Colleges & Student’s 54
4.7 Number of Colleges offering Commerce 55
courses
4.8 Locality wise number of Colleges offering 56
Commerce courses
4.9 Number of Men’s, Women’s & Co-educational 57
colleges in Karnataka
4.10 Number of college (offering Commerce 58
courses) run by Minorities, SC & ST
Associations etc.
LIST OF FIGURE
FIGURE NO. FIGURE NAME PAGE NO.
4.1 School Education 49

LIST OF GRAPHS
GRAPH NO. GRAPH NAME PAGE NO.
4.1 Number of Universities 38
4.2 Number of Colleges 36
4.3 Number of Universities in Major States 39
4.4 Enrolment in Various Universities & its 40
Constituent units
4.5 Percentage of SEM’s who use the internet for 66
business activities
4.6 Details of technology enabled SME’s 67
participate in the export economy in India
4.7 User by mode to access internet (%0) Internet 68
usage through mobile phones to grow
4.8 India Foreign Direct Investment 69

CHAPTER - 1
INTRODUCTION
SL NO. CONTENTS PAGE NO.
1.1 Introduction 1
1.2 Need of the Study 2
1.3 Objectives of the Study 3
1.4 Research methodology 3
1.5 Scope of the Study 4
1.6 Limitation of the Study 4
1.7 Chapter Scheme 5
References 6
CHAPTER - 2
REVIEW OF LITERATURE
2.1 Introduction 7
2.2 Review of Literature 7
References 15
CHAPTER - 3
THEORETICAL BACKGROUND OF COMMERCE

EDUCATION
3.1 Introduction 18
3.2 History 18
3.3 Commerce Education: Understanding & 19
Definition
3.4 Patterns of Commerce Education in India 20
3.5 Importance of Commerce Education 20
3.6 Current state of Commerce Education in India 21
3.7 Modern means of Education & their 21

Applications in the Commerce
3.8 Prospects in Commerce Education 23
3.9 Challenges in Commerce Education 25
3.10 Problems of Commerce Education 27
3.11 Major issues to be addressed 29
3.12 Re – designing of Commerce Education 29
3.13 Drawbacks in Commerce Education practices 31
References 34
CHAPTER - 4
OVERVIEW OF COMMERCE EDUCATION
4.1 Introduction 35
4.2 Higher Education in India 36
4.3 Higher Education in Karnataka 41
4.4 National Education Policy – 2020 45
4.5 Commerce Education in India 53
4.6 Commerce courses in Karnataka 55
4.7 Rural & Urban Commerce Colleges 56
4.8 Men V/s Women’s Commerce Colleges 57
4.9 Commerce Education at Graduate level 58
4.10 Establishment of Commerce Facilities 59
4.11 Commerce Education Abroad 60
4.12 Business Education in USA 60
4.13 Objectives of Teaching Commerce 62
4.14 Bloom’s Taxonomy of Objectives 62
4.15 Overview of Commerce trends in India 65
4.16 E – Commerce 65
4.17 Mobile Commerce 67
4.18 India Foreign Direct Investment 68
4.19 Special Economic Zones 69
4.20 Government Initiatives 70
4.21 Ease of doing Business Policy 70
References 71
CHAPTER - 5
FINDINGS, SUGGESTIONS AND CONCLUSION
5.1 Findings 75
5.2 Suggestions 77
5.3 Conclusion 79
BIBLIOGRAPHY
COMMERCE EDUCATION PROSPECTS AND CHALLENGES
CHAPTER - 1
INTRODUCTION
1.1 Introduction
The present day education has global centric. Today information and
knowledge are ruling the world. In this scenario Commerce education as a living
discipline of education, which develops knowledge, skills and attitude that are
required for the successful handling of trade, commerce and industry, has bright
prospects. The World Bank, IMF & WTO’s regulations have both positive and
negative implications on Commerce education in India. With the economic
integration corporate business entities are extending their business across globe.
The present day business provides vast job opportunities across the globe & at the
same time poses a challenges and threats. The corporate entities have to be
controlled by pool of skilled talented managers and global job market expects
people with multi skills than a sole skilled people. India is a young nation which is
a plus point in globalized scenario.
The commerce education institutions have to produce world class
graduates to shoulder the responsibilities successfully and out perform their
foreign counter parts. It is the responsibility of Commerce Educational institutions
to meet expectations of job market. In India commerce education is has
challenging task of producing students with multi-faceted skills like creativity
and innovative skills, information technology skills, ability to make decisions in a
dynamic environment, Human Resource Development skills, Services
Management skills, Entrepreneurial Skills, Stress Management, Strategic skills. In
India education is the joint responsibility of Centre and States. In India Commerce
Education is facing with many challenges like lack of world class business and
management institutions, inadequate educational infrastructure, lack learning
resources, inadequate faculty unscientific faculty- student ratio, lack of
professional bent in faculty. The governments, AICTE, IIMs, ICAI, Commerce
and Management Associations, universities and industries have to take more
rigorous measures to meet these challenges and equip our young people to
become world class entrepreneurial people. In this paper we made an attempt to
high light the challenges face commerce graduates and post graduates and
D.O.S. in Commerece, Davangere University, P.G Centre, Jnanagangotri, Chitradurga Page 1

suggested some measures to meet these challenges to make commerce education

more effective.
Chessman defined Commerce Education as that form of instruction which
both directly and indirectly prepare the business man for his calling. Commerce
education covers diverse fields of business such as Accounting, Marketing,
Finance, Entrepreneurship Development, commercial and business laws,
environmental accounting, corporate governance and corporate accountability.
Commerce education as a living discipline of education develops
knowledge, skills and attitude that are required for the successful handling of
trade, commerce and industry. Apart from the IIMs, some Central Universities and
some business schools in India are not world class educational institutes. The
commerce & management institutes are still on chalk and talk teaching methods
which are very traditional and these methods impart bureaucratic management
skills and fail to impart entrepreneurial management skills. Again the syllabi and
teaching is exam oriented. In India barring IIMs and some business schools,
commerce & management institutes provide only academic courses. The
curriculum in C &M institutions is not in pace with current trends in the world.
The industry and institutions are not linked. In 21st century phenomenal demand
occurred for commerce education in India.
It is very sad to state that with good opportunities in job market for
commerce students, students from arts background and other areas who didn’t
have basic business & Commerce knowledge joining B. Com, B.B.M, M. Com,
MBA courses. The present day business houses working in diverse cultures and
political set world over and they altogether need people with professional
management skills. In west and developed countries commerce education has
been professionalized and provides professional courses. The commerce education
is facing numerous problems.
1.2 Need of the study

Presently the business world feels that; Commerce degree holders lack in
right kind of skills, practical knowledge and exposure to outside business world,
which are needed. To realize the mismatch between the product and the demand,
there is an urgent need to overcome the existing business system and require

coping with the fast changing LPG era. The problems faced by the commerce
graduates and post graduates are of a great concern for the students, academicians,
business world and even for parents, as the students are only oriented towards
classroom theoretical related skills, lack of communication skills, lack of IT
knowledge and global scenarios etc., therefore, there is an urgent need to explore
some measures to overcome these challenges and to match the curriculum and
structure of business education to better fit the needs of changes in both in the
industrial and services sectors within the country.
Moreover, it is also important to properly asses the quality of commerce
education imparted to the students in various institutions for proper decision
making regarding selection and recruitment by potential employers. So, the
researchers have taken up the study to analyse the prospects and challenges
commerce education in India. this research will be helpful to point out the
prospects and challenges of the commerce education in India and it will helpful to
policy makers in making appropriate policies and suggest measures for
improvement in Education system of the country.
1.3 Objectives of the study

1. To examine various courses available for career opportunities.
2. To study overview of Commerce Education.
3. To analyze prospects, challenges and problems in Commerce Education.
1.4 Research methodology

For research purpose, I used the secondary data. My total paper is based on
secondary data which I have collected from articles, magazines, journals,
newspapers and some website.
Data collection techniques

Secondary data method is used to perform these research paper.
Secondary Data
For this research paper the data is collected from different kinds of sources like
internet, magazines, and some website.

1.5 Scope of the study

The scope of the study extends to cover the study of prospects and
challenges of commerce education. Commerce is a field for students who have an
interest in financial information/transactions, trading of economic value, etc.
Students often consider taking up commerce after completing class 12. Students
who are looking forward to pursuing a career in Commerce have a wide range of
choices before them.
Candidates can pursue the Commerce course at the undergraduate (UG),
postgraduate (PG), diploma levels as well as at the doctoral level. UG level
commerce courses offered to aspirants include B. Com, BBA, CA, CS, BBM, etc.
UG level popular commerce programs are M. Com, MBA, M. Phil etc., generally
speaking, UG courses in commerce are three year’s duration whereas PG
programmes are two year’s duration. Hence the scope of present study confines to
the prospects and challenges of above all the courses.
1.6 Limitation of the Study

The study is subject to a few limitations. As already stated very clearly, the
present study is concerned with a detailed study of prospects and challenges of
commerce education at graduate level.
The relevant data are collected from the sample colleges affiliated to
Davangere University and other general universities. That means, the colleges
offering non - commerce courses and the colleges affiliated to other universities
viz., Kannada university, Agricultural University and Visvesvaraya Technological
University are excluded from the study. Besides, the non-availability of relevant
data for some years and/or for some issues and/or from some colleges has made it
necessary for the Researcher to make necessary adjustment whatever data
available. In this research, I use secondary data for collecting information about
the commerce education so secondary data have some limitations such as,
1. Secondary data can be general and vague and may not really help
companies with decision making.
2. The information and date may not be accurate. The source of the data must
always be checked.
3. The date maybe old and out of date.

4. The sample used to generate the secondary data may be small.

5. The company publishing the data may not be reputable.
1.7 Chapter Scheme

Chapter 1: Introduction
This chapter includes introduction., need of the study, objectives of the
study, research methodology, scope of the study, research problem, limitations of
the study, and chapter scheme.
Chapter 2: Review of Literatures
Chapter 3: Theoretical Background of Commerce Education

This chapter includes introduction, history of commerce education,
commerce education: understanding and definition, pattern of commerce
education in India, importance of commerce education, current state of commerce
education in India, modern means of education and their application in the
commerce, prospects in commerce education, challenges of commerce education,
problems of commerce education, major issues to be addressed, re-designing of
commerce education practices, conclusion, reference.
Chapter 4: Overview of Commerce Education

This chapter includes introduction, higher education in India, higher
education in Karnataka, national education policy- 2020, commerce education in
India, commerce course in Karnataka, exclusive commerce colleges, rural and
urban commerce colleges, men vs women commerce colleges, commerce
education at graduate level, establishment of commerce faculties, commerce
education abroad, business education in USA, objectives of teaching commerce,
bloom taxonomy of objectives, competencies desired in commerce education,
competency- problem solving, six steps of learning skills, development of
commerce in modern era overview of commerce trends in India, E- commerce,
mobile commerce, India foreign direct investment, special economic zones,
government initiative, ease doing business policy, conclusion.
Chapter 5: Findings, Suggestions and Conclusion

This chapter covers findings, suggestions and conclusion.

References
1. Suraksha Ritu, Deepak Bhatia – Commerce Education in India: Issues and
Challenges
2. International Journal of Engineering, applied and management sciences
paradigms. 2013; 1(02)
3. Santosh Gupta - Emerging trends in Commerce and Management
Education, Published inUniversity News, 2003; 41(05).
4. Jagdishbhai Patil K. - The Changing face of management Education:
Challenges for tomorrow.
5. Getha Rani P. – Economic Reforms and financing higher education in
India, Indian Journal of Economics & Business, 2004; 3(1): 79 – 102,
www,UGC.com
6. Dr. Pravin Pandya - Commerce Education-its Problems and Prospects,
professor Departmentof economics.

CHAPTER - 2
REVIEW OF LITERATURE
2.1 Introduction
Review of literature is one of the most important steps in the research
process. It is an account of what is already known about particular phenomenon.
A literature review is an overview of the previously published works on a
specific topic. The term can refer to all scholarly paper or a section of a scholarly
work such a book, or an article. The purpose of a literature review is to convey to
the readers about the work already done and the knowledge and ideas that have
been already established on a particular topic of research. Literature review is a
laborious task, but essential if the research process is to be successful.
2.2 Review of Literatures
D. Obul Reddy (2007), this paper is an objective introspection about the

commerce education its objectives, its problems, its job potential, its quality and
its relevance to the present day needs of our country. Business education or
commerce education is that area of education which develops the required
knowledge, skills and attitudes for the successful handling of trade, commerce and
industry.
Gudrun Baldninsdottir, Andreas Hagbers, I. L. Johensson & Kristina

Jonall (2011), the purpose of this paper is to provide a structured overview of
literature in the news of trust and accounting. This can serve as a basis for future
research, and thus provide a frame work for asking more precise and focused
research questions.
Suraksha, Ritu & Deepak Bhatia (2013), in this paper the problems
faced by commerce education in India is highlighted and authors new that it is
time for evolving new strategies for five a better deal to commerce education in
coming years. They come with some constructive suggestions like conducting of
seminars and workshops for the benefit of teachers and students SWOT analysis
of the commerce education institutions, interaction between industry and
institute for placement must be practical and skill oriented and syllabus should

include more on drafting of reports and minutes, case studies to improve

commerce education in India.
Dr. Reeti Gupta (2013), this study mainly focus on commerce education
provides on in-depth knowledge of trade &aids to trade as well as trains the
people to work in different functional areas of business. It is recognized as one of
the critical elements of the national development due to its vital important in
fostering trade and industry. Reflecting on this that present study is a venture to
identify and address the challenges evolving in the dynamic world of commerce
education and to suggest some innovative practices in commerce education for the
improvement of its quality and content.
A.K. Mahto and Dr. S.K. Jha (2014), this paper studies the basic
function of education is preparation of students for life. It may be said that
commerce education in a globalized economy requires fresh look and new version
revamping the commerce education requires priority attention of the concerned
educational institutions.
Chaluvaiah (2014), this study has highlighted has various prospects in

terms of commerce and business education in India. it has stated that in academic
courses like M.com & MBA it should be given liberal commerce education for
developing of quality mind education etc. further it has also reported various
challenges faced by commerce education in India including inadequate
infrastructure, poor library resources and finally it has suggested some of the
measure to overcome these challenges like re-engineering commerce pedagogy
and other essence such as food infrastructure.
Dr. Partap Singh, Sangeet Rani, Dr. Sanjay Singla, and Priti Singla
(2015), in this paper studied role of commerce education in growth of India.
Commerce education has been vastly affecting. the part of commerce education in
national development is well accepted. the product of commerce education should
be multidimensional and with full global competitiveness. this paper aims are to
known the role of commerce education in economic activities like profession,
business, employment generation, entrepreneurship development, and also in

agricultural sectors and to analyse the importance of tools of financial

management.
Ms. Artiba V Rana (2015), this research focus on the emerging trend of
commerce education in India’s education system is often cited as one of India.
The size of India’s higher education is about $ 40 billion per year, commerce
education is very important part of education which is called as business
education. It is a living discipline and its totally different from other discipline
hence it must charter new routes to service the aspirations of the nation.
Dr. Pastap Singh, Virender Singh, Sangeeta Rani (2015), this research
paper highlighted the study of industry’s perception towards commerce education
in India. Under WTO regime commerce education has been immensely
influencing. commercial education is a type of training which, will playing its part
in the achievement of the general aims of education of any given level, as for its
primary objectives the preparation of people to enter upon a business career, or
having entered upon such a career, to render more efficient service there in and to
advance from their present levels of employment to higher levels. the practical
oriented commerce education is a need of the age. papers analyses examine the
industry perception towards commerce education in India.
Dr. Samir Maribhai Vohra (2015), this paper presents the current
education in in India by analysing the various data and identifies key challenges
and key initiatives by government and recommendations for revitalization of
commerce education. commerce education is the area of education which
develops the required knowledge, attitudes and skills for successful heading of
trade, commerce and Industry. The traditional commerce education has become
irrelevant in the new era of globalization there is an urgent need to over all the
existing business education system to cope up with the dynamic world with trade
and commerce assuming innovative dimensions in the context of growing
international business, the curricula for commerce faculty should be adapted and
re-structured to meet the future challenges of the economic, manufacturing and
service sectors.

Deepali Kailasroa Mankar (2016), in this research paper the highlighted

the scope covering the diverse fields of business such as Accounting, Marketing,
Finance, Entrepreneurship Development, commercial and business laws,
environmental accounting, corporate governance and corporate accountability.
The author stressed the importance of commerce education in the changing global
business scene. He views that as a living discipline commerce education offers lot
of opportunities to students to perceive covers such as B. Com, M. Com, BBA,
MBA, Charted Accountant(CA), Company Secretary(CS), Certified Public
Accounting(CPA), Certified Management Accountant(CMA), Business
accounting and taxation(BAT).The author opined that all the shareholders in the
field are equally responsible for the state of commerce education and suggest
that all need to come and work together selflessly to bring positive changes in
the interest of students future and making them to participate in nation building.
Deborah Libuparis, Mahad Bahari, Noormin Shah Lahed, Waidan

Ismail (2016), in this research paper studied E-commerce implementation is a
crucial process for organization to make it successful and beneficial. As a
consequence, intensive research works in the area of e-commerce,
implementation from a diverse range of views and finding have been studied by
many researchers. However, the aspect of Business-to-customer (B2C) e-
commerce implementation has yet been undertaken in on understandable manner
in the context of a full life cycle of information systems development. this paper
provides a systematic literature review of existing research student one-
commerce implementation.
Shyju CM (2016), the principle purpose of educations to educate all

students and give everyone equal opportunity, as a means to succeed in life. the
broad objectives of the education include the ability to think critically, to
communicate effectively, to become aware of the vast extent and variety of our
accumulated experience and knowledge, and to master at least one subject well
enough to appreciate its delicacy and complexity with a growing emphasis on
information, global economy, higher education was viewed as increasingly
essential for the world’s population, therefore melding ourselves to the changing
environment is an invertible part of curriculum.

Madhurina Khosla and Harish Kumar (2017), E-commerce is one of

the fastest growing segments in the Indian economy. “e-commerce is the use of
electronic communications and digital information processing technology in
business transactions to create, transform, and redefine relationships for value
creative between or among organizations, and between organizations and
individuals”.
Nazmum Nessa Moon, Shaheena, Fernaz Narin Nur and Mohd

Saibuzaman (2017), this paper contains a brief discussion of search engine
marketing or e- commerce, literature survey, current and future prospect,
comparative study of e- commerce in Bangladesh perspective on online shopping.
From this research we can come to a conclusion that convenience and time are the
main attributes for making the decision to shop online rather than traditional
shopping in Bangladesh and we also found out that your consumer are more
comfortable & satisfy to make online purchases.
Dr. Rohith Bansal (2017), in this research paper the author highlighted
the scope of three fundamental academic streams, the other two being humanities
and science. Commerce is a division of trade or production which deals with the
exchange of goods and services. The author opined that the higher education was
viewed as increasingly essential for the world’s population.
Ibtihaj Ismaail Yaagoob, Riyadh Jasim Al-Abdullah (2017), this study

aims, through a questionnaire, at establishing the possible role of accounting
literature and professional training in enhancing common life based characteristics
held byan accounting expert called upon to run forensic activities keywords of this
paper are academics, accountants, accounting literature, auditions, characteristics,
forensic accounting role.
Pasimla Ramesh (2017), the higher education system in India as grown in

a remarkable way, mainly in the past –independence period, to become one of the
largest organization of its kind in the world. The new challenges before the
country at the beginning of the twenty first century is to become a developed
society by the year 2020, which requires that not only a vibrant economy driven

by knowledge as to be ushered in soon, but also new society where justice and
human values prevail has to be created.
Latasha Mohapatra, Bharat Kumar Meher (2017), this paper study

focus on the problem of unemployment has been continuing since independence
and the primary reason behind it is the gap between the number of jobs available
in India and the number of employable person in India. This gap is quite difficult
to fill up by the government of India even in the coming decodes. There is a
misconception that there is very less on no job opportunities for those students
who are involved in academic education only.
Nitin Kumar, Anusara Jhensanam, Md Altab Hossin and

Kamruzzaman Sarkal (2018), the aim of this study is to explore the status of
e-commerce in India. It also explores the challenges and opportunities of e-
commerce in India in the perspective of the global economy A meta-analysis is
employed in this study to determine the objectives nowadays peoples of India are
most likely to buy and sell products and services over the electronic system or in
other words, we can say that now in India society, people are modernized using
reliable and comfortable that using of e-commerce.
Dr. D Shivkumar & C. Seernivasan (2018), the present paper is on

attempt to highlight the issues and challenges before commerce education in India.
Since last two decades a numbers of changes and developments have taken place
in the social and political arena and has a consequence, India being a developing
country is facing new challenges to cape with, which put high demand on the
educational system of the country. Commerce education plays pivotal role in
equipping our future dynamic mangers with the emerging trends of commerce
skills to face the challenges of dynamic business world.
Dr. Jathan Kanwas Jain (2018), in this paper the author focuses on the
most significant 60 cuses contributing to the economic development of India and
commerce education is considered as one of the popular career options for youths
of India. It is the backbone of economy, trade and industry and the Sydenham
college of commerce and economics. To archive this goal of commerce education

must be focus on linkage with business and industries. It should be more practical
and as like on training and hands on experience.
Guntur Anjana Raju, Suraj Velip (2018), this research studies the seed
of LPG (Liberalization, Privatization and Globalization) and its growing trends in
the current scenario has been continuously dominating the scene of commerce and
management education in India. The present paper highlights the importance,
recent challenges and opportunities in commerce and management education in
India and thereby it has also reported some of the noted measures to make our
commerce and management education is more effective.
Raj Kumar (2019), modern age is the age of commerce discuss the today
commerce education cover diversified field of education and research in different
aspects of business environment. In commerce education includes finance,
marketing, human resource management, entrepreneurship development,
commercial and business law etc. The focus of the paper is on the current status,
challenges and about different opportunities available incommerce education.
Manisha Sharma and Neetu M Shukla (2019), the present paper is an

attempt to highlight the issues and problems faced by teachers in teaching
commerce with special reference to material and tsk and some other issues like
enhancing the self-knowledge and availability of resources in schools for teaching
commerce effectively. The researcher adopts the descriptive survey design using
simple frequency and percentage in analysing data. Commerce teachers are
randomly selected from 15 senior secondary schools of Faridabad District of
Haryana. The result shows various issued faced by commerce teachers in teaching
commerce at senior secondary level.
Prianja Sarkar, Hatice Kizgin, Nripendra Rana, and Yogesh kumar

Dwivedi (2019), this paper used the following key word to find relevant article
using Google scholar, scholar, science direct, scholar data base, “social commerce
adoption” consumer behaviour on social commerce”. Or “influence factors of
social commerce” in order to identify the relevant article this paper conducted a
review of past literature on the area of social commerce in particular consumer
adoption of social commerce.

Dr. S.M.Y. Yamuna and Karthic Raja (2020), studied mainly focus on
commerce student’s opinion towards campus interview process in art & science
colleges at Coimbatore. This paper finally concluded that there are 3 reasons for
not on boarding in company’s candidate family structure, and choose higher
education. This paper suggested that students can attend the interview if they
ready to join (or) else better leave that opportunity to the offer needed students.
Dr. J. D. Gupta (2020), In this research the author highlighted the present
scenario education place vital role in student’s life. Education is important for
every student. Education and youth are the backbone of every economy. This
research is only concern with problems faced by commerce students regarding the
commerce education. In this research paper the author cover what are the
problems faced by commerce student? And now how to solve the problems of
commerce students?
Dr. S. M. Yamuna, S. Karticraja, M. Mahalakshmi, R. Sharankumar

(2020), from the study, “Commerce student’s perception to words campus
interview process at Coimbatore”. Campus interview in arts and science colleges
is high nowadays compare to other colleges. In that objective a study is made to
analyse the reasons for not on-boarding in companies among commerce degree
students. In conclusion of the study we will find the major reason for not on-
boarding in placed company.
Heena Tabasum and Dr. S.Venkatesh (2021), in this paper the problems
faced by commerce education on India is highlighted and this study research on
commerce education plays a very important role in economic growth it is one of
the keys which lead to success in all sectors of the economy commerce education
is the back bone of the business and development of the nation and it is already
established that food commerce plays a tremendous role in the economic
development of the country an attempt is made to analyse the role of commerce
education in the growing economy of India.

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CHAPTER - 3
THEORETICAL BACKGROUND OF COMMERCE
EDUCATION
3.1 Introduction
Commerce education is important to gain knowledge of business, trade,
industry and commerce. It provides the knowledge for various specialized and
professionalized study related to the business. In India commerce education is
available after the school period because of this school students were not taught
commerce subjects & they don’t possess any business & finance knowledge. There are
various courses available to commerce students which help them to gain
knowledge and competencies required for job in industries. But the students were
not possessing proper knowledge and competencies due to lack of faculties and
practical training provided by colleges and institution which lacks students to get job.
In present scenario everything is digitalized which also applies to education.
Modern education also adopted the online education & MOOC’s platform to achieve
the objectives of commerce education. There are numerous professional
opportunities available for commerce student’s viz. CA, CMA, CS, and more who
work on good managerial position. Many challenges are also there which are
presented in the paper in detail. The challenges need proper solution which mostly
possible by colleges and institutions with the help of good faculties. The faculties
are like root because of root tree stands. “Trees are capable of growing deep roots
but root is strongly influenced by soil and climate condition”. Like this faculty are
root which possess strong knowledge related to subject and make students capable
to build their knowledge and understanding about subjects to grow in their life.
3.2 History
The growth of industry and science in the recent past has demanded a
specialized education in the field of commerce and industry. Education of
commerce was started by private commercial institutions. To start with only book-
keeping was taught. We find Minims used to train junior Minims under their
apprenticeship. Later on private commercial institutes started teaching of book-
keeping and accountancy. If we see the history commerce in higher education is nearly
102 years old. For such an education, Madras became a pioneer state where it started in

1886. The Government of Madras laid the foundation of commerce education by

setting- up commercial institute in Madras. Two other institutions were established
during the next ten years (by 1896). Government of India also started Commerce
College at Calicut and Presidency College at Calcutta. In India Commerce education
at University level made its first beginning in 1913 when Sydenham College of
commerce and economics was established by Bombay, since then there has been
steady increase in commerce courses and its related branches all over India, there is
hardly any university or college which don't have commerce department.
In the beginning of this century Calcutta Presidency College also
introduced the teaching of commerce (1903). By about that time it was also
introduced in Delhi. One more commercial institution was started in Bombay in
1912. In 1920's (1921- 22) the first Fiscal Commission was set- up and this
commission made certain important recommendations. In the light of these
recommendations some major improvements were visible in various industrial fields
especially in the field of iron and steel industry, sugar industry, tea industry, cotton
industry and jute industry.
In the early part of 19th century commerce education and training programs
were formally started through as vocational courses intended for meeting the
requirements of different local cadres in business and industry as also in
government department. Commerce courses were formally elevated to the level of
undergraduate graduate and post graduate and by 1930 many universities and
colleges in the country introduced B. Com and M. Com commerce training
programs suitable for those seeking commerce courses after 12.
3.3 Commerce Education: Understanding & Definition

Commerce education is the area of education which develops the required
knowledge, skills and attitude for the success handling of trade, commerce and
industry. According to the needs of the business and society independent professions
have emerged in the form of Chartered Accountant, Cost and work accountant,
Company Secretary and business administrator (MBA) Commerce Education, as a
branch of knowledge imparts experience of business world at a large in all its
expressions. Commerce Education is directly concerned with the day to day life of
the students. Even then it is necessary to define commerce education. According to

Chessman Abiah Herrick, “Commerce education is that form of instruction which

both directly and indirectly prepare the business man for his calling”. In Herrick's
view commerce education is preparation of a businessman. It includes all types of
education which makes one person to become a great businessman. The commerce
education is primarily meant for providing the students in- depth knowledge of
different functional areas of business so as to prepare people required by the
community for the purposes of trade, commerce and industry.
In 1933 Fredrick G. Nichols defined commerce education as follows, "
Commerce education is a type of training which while playing a part in the
achievement of the general aims of education on any given level, has for its
primary objective the preparation of people to enter upon a business career or
having entered upon such a career to render more efficient services there in and to
advance from their present levels of employment to higher levels."
3.4 Pattern of Commerce Education in India

In India commerce education is available after 10years of secondary
school education. Science and arts subjects are available for students at secondary
school level whereas commerce subject not available for students.
SECONDARY PROFESSIONAL
HIGHER EDUCATION
EDUCATION EDUCATION
Post
Secondary Higher Graduate
Under Specialized & Expertise
School School &
Graduate Education
Level Level continuing
Education
B. Com &
Science / M. Com /
Class I to other CA / CMS / CS /
Arts / M. Phil /
X specialization Actuaries / Law / MBA
Commerce P. hD
in B. Com
Table No: 3.1 Pattern of Commerce Education in India
3.5 Importance of Commerce Education

Commerce education in our country has been developed to support growing
manpower needs of business enterprises. Commerce education is important and
helpful for various areas of business, trade, commerce and industry. Commerce
education is important to the students and related people for the purpose of proper
management of money, work management, decision making, keeping record and

maintenance of activities, management of risk, building entrepreneurship skills, tax

management and payment, trade and marketing management, business
communication and etiquettes, preparation of bookkeeping records, preparation of
accounting statement and interpretation on them and may more. It is also important
for the students to get the knowledge of various theoretical and practical business
world situations.
3.6 Current state of Commerce Education in India

At present in India, some of central university and business schools are not
world class educational institutes. Despite of many technological advances and
introduction of new and modern pedagogical concepts, the commerce and
management institutes are still continuing on chalk and talk teaching (traditional)
methods impart bureaucratic management skills. Commerce education remained
unchanged i.e. today also mostly class rooms with full of students and teachers taught
in traditional- style. Again syllabus and teaching is mostly exam oriented. The
curriculum in commerce and management institutions is not in pace with current or
modern trends in the world. The industries and institutions are not linked which lacks
the students to get practical knowledge and jobs after completion of study. The
colleges and universities are not providing proper career guidance and support.
3.7 Modern means of Education and their Application in Commerce

Modern day education is aided with a variety of technology, computers,
projectors, internet, and many more. Diverse knowledge is being spread among the
people. Everything that can be simplified has been made simpler. Science has
explored every aspect of life. There is much to learn and more to assimilate.
Internet provides abysmal knowledge. There is no end to it. One can learn
everything he wishes to. Every topic has developed into a subject. New inventions
and discoveries have revealed the unknown world to us more variedly. Once a
new aspect is discovered, hundreds of heads start babbling over it, and you get a
dogma from hearsay. Not only our planet but the whole universe has become
accessible. Skill- development and vocational education has added a new feather to the
modern system of education. There is something to learn for everyone. Even an
infant these days goes to a kindergarten. Rightly said by Aristotle, “Education is
an ornament in prosperity and a refugee in adversity.” what everybody feels now.

E- commerce: E- commerce involves conducting business using modern

communication instruments like internet, trephine, Electronic Data Interchange (EDI),
E- payment, money transfer system. E- commerce provides multiple benefits to the
consumers in the form of availability of goods at lower cost, wider choice and save
time. People or costumers can buy goods only by one click sitting at home or from
any places. Similarity, online services such as internet banking, ticketing, mobile
recharges, bill payments, etc., provides tremendous benefits for customers. E-
Commerce provides good information, knowledge and career opportunity to
students and related people in today's time.
Online Education: Online education is electronically supported learning

that relies on the internet for teacher or student interaction and the distribution of
class materials. With online education, students can turn anywhere with Internet
access and electricity into a classroom. It can include audio, video, text,
animations, virtual training environments and live chats with professors. It’s a rich
learning environment with much more ﬂexibility than a traditional classroom.
When used to its full potential, online education has been shown to be more
effective than pure face- to- face instruction. It can be engaging, fun and tailored
to ﬁt almost anyone's schedule.
Online Education Programs
100% Online Education: Fully online degrees are earned from the comfort
of your own home with no required visits to your college or university campus.
Many commerce courses are offered in this mode mostly by outside universities
with good designed syllabus and learning structure.
Hybrid Education: Hybrid education allows students to pursue a

combination of online and on- campus courses. Many commerce course are
available in this mode by various distance Universities viz. IGNOU, Amity
University, and more.
Online Courses: While online courses may be part of a degree program,

they can also be taken on their own in order to master a certain subject or learn a

specific skill. Many certificatecourses are available in online mode viz. social media
marketing, human resource management, and more.
MOOCs: MOOCs, or massive open online courses, are usually

delivered in lecture form to online" classrooms" with as many as 10, 000 people.
SWAYAM is a MOOCs platform which provides various online courses approved
by University Grant Commission (UGC) to achieve the three cardinal principles of
Education Policy viz., Access, Equity and Quality. SWAYAM is an instrument for
self- actualization providing opportunities for a lifelong learning. Here learner can
choose from hundreds of courses.
3.8 Prospects in Commerce Education

Commerce Education provides numerous opportunities after studying various
courses available at the degree (under graduate) level or master's degree (post
graduate) level and professionals or job oriented courses.
1. Graduate level courses are that which provides oneself platform to learn
basic study in the relevant field and go for work as entry level job in
industries or organizations. There are various courses available at bachelor's
level viz. B. Com, BBI, BAF, BBM, BBA, BMS, BMS, BFM, B. Com
(Actuarial Studies) and more.
2. Post Graduate level courses are that which provides oneself platform to
learn some advanced study in the field and go for work in industries or
organizations as advance knowledge in the field. There are various courses
are available at master's level viz. M. Com in various disciplines i.e.
Accountancy, Business Management, Banking Finance, Business
Economics, E- commerce and more.
3. Job oriented certificate or diploma courses are also available after 10+2
studies or after graduation which provides specialization in the relevant
fields. This courses are Computer Accounting Course (i.e. SAP, Tally),
Diploma in Export Import, Diploma in Chain Management, Diploma in
digital marketing, Certified Financial Planner, NSE or NISM modules,
Insurance Agent Certification, and more.

4. Professional Courses provides oneself platform to get high status job and
expertise in the relevant field. These courses are Chartered Accountant (CA),
Cost and Management Accountant (CMA), Company Secretary (CS),
Actuaries India (IAI), Master's in Business Administration (MBA), Law
(LLB), and more.
5. One can learn various subjects as per their chosen discipline in commerce
stream which gives knowledge and experience of theoretical learning with
some practical learning of subjects. The various subjects are available for
students which they can learn viz. Advertising, Auditing, Banking,
Business Ethics, Business Economics, Business Management, Business
Environment, Business Mathematics and Statistics, Business
Communication, Book-keeping and Accountancy, Corporate Accounting,
Corporate Law, Corporate Financial Reporting, Cost Accounting, Direct
Taxation, Entrepreneurship Management, Export Marketing, Financial
Accounting, Financial Management, Financial Market Study, Foreign Trade
Management, Human Resource Management, Indirect Taxation, Industrial
Law, International Business, Insurance, Marketing, Management,
Management Accounting, Operations Management, Quantitative Methods,
Research Methodology, Strategic Management, and more.
6. There are many industries available where commerce graduated Students
can go for work viz. Banking, Financial, Insurance, Logistics,
Telecommunications, BPO, Educational Institutions, Government
departments and more.
7. There are various areas available where commerce graduates can go for
work viz. Sales and Marketing Assistant, Management Assistant, Tax
Consultant, Tax Assistant, Account Assistant, Internal Auditor, Data Analyst,
Human Resource Management Assistant, Stock Broker, Security Dealer,
Fund Manager, Book Keeper.
8. Personal Finance Consultant, Cashier, and more.
9. One can also go for Lectureship or research oriented degree for continuing
education which provides the professionalized in teaching field and make
their contribution towards educational improvement and development of
economy.

10. One of the best things is that one can also start their own business and become
good entrepreneur as per the knowledge and competencies learnt during
studies.
3.9 Challenges in Commerce Education

Commerce education is the backbone of business and continuous development of
the nationsand considered as one of the most popular career in India. It covers wide
range of business and economy. Commerce education gives to the people for
democratic living, good citizenship and proper utilization of resources. Commerce
education providers to business and society that hope to use it for the betterment of
self, business and society at large. It provides skill oriented education to students
and society. But quality of education system in India has been lagging for quite
sometimes more in comparison to the quantity. The various challenges in
commerce education are listed below:
1. There are no commerce subjects available at high school levels like

science and arts subjects which could provide the basic knowledge for the
students to take admission in commerce and understand it's importance of
study.
2. The many present courses emphasis on theoretical or conceptual knowledge
without offering as phenomenon or activity actually functions.
3. The syllabus of commerce courses not provides practical work experience and
industries oriented experience. This lacks them to get suitable job in future.
4. There are many curriculums are outdated and has lost their importance to
present scenario which lacks students to deal with current scenario.
5. Many of colleges or institutions didn't have the facilities like well-
designed classrooms with modern devices like computer networks,
overhead projector (OHP), digital library, internet facility and more.
6. More of the colleges or institutions classrooms are overcrowded with non-
availability of proper required facilities and seating arrangements which lacks
students to get proper learning and skill developments.
7. The junior colleges and degree colleges are not providing timely counselling
and guidance to their students for further studies, improvements and career

building because of this many students There is absence of body to promote

commerce education many people suggest for science or arts education.
8. The commerce teachers are expected to teach all subjects in spite of their
specialized field.
9. Here are more teaching faculties are required which is not filled as per
rules. Most of teachers are kept on Ad- hoc basis or Visiting basis which
sometime results teacher won't able to give their full effort.
10. The graduate level commerce and management Institutions fails to have
contact with industry or research institutes which fails to provide knowledge
improvement to students.
11. The business organizations feel that the commerce graduate degree holders
do not possess the right kind of skills, practical knowledge and industrial
exposure which need to have because of this they chose some professional
degree holder or experience people for job which results graduate degree
holders negatively to get suitable job.
12. Commerce stream education provides skill development in various areas
viz. professional skill, computing skill, communication skill, leadership
skill, Managerial skill, entrepreneurial skill, etc., are essential to enjoy a
better human life. In academic curriculum, from secondary to higher level
education it is need for inclusion all the indicators of human resource
development.
13. The commerce teachers are expected to teach all subjects in spite of their
specialized field.
14. There are more teaching faculties are required which is not filled as per
rules. Most of teachers are kept on Ad- hoc basis or Visiting basis which
sometime results teacher won't able to give their full effort.
15. The graduate level commerce and management Institutions fails to have
contact with industry or research institutes which fails to provide knowledge
improvement to students.
16. The business organizations feel that the commerce graduate degree holders
do not possess the right kind of skills, practical knowledge and industrial
exposure which need to have because of this they chose some professional

degree holder or experience people for job which results graduate degree
holders negatively to get suitable job.
3.10 Problems of Commerce Education

Expansion of liberal commerce education, as a matter of fact
indiscriminate expansion in its wake, has brought about certain problems too. The
quantitative expansion has definitely resulted in qualitative degeneration. As a
result, today a commerce graduate has little edge over his counterparts in being
selected to such positions which were once considered his domain at one time.
1. The present courses are not adequate in preparing the students for
competitive examinations either. The present system of commerce
education does not equip the students either for taking up jobs requiring
knowledge of general subjects or jobs that demand knowledge of a
technical or specialized nature. Time has come now when a commerce
graduate is not being accepted even as a qualified book-keeper.
Consequently, he finds himself in a “no man’s land” neither a generalist
nor a specialist.
2. In such a situation it is but natural that the popularity of the course
declines. The process has started in many States especially in rural areas.
The reasons for unpopularity / weaknesses of commerce education are:
3. Craze for Medicine, Engineering, Management and IT courses.
4. Unpopularity of commerce at competitive examinations - the syllabus of
commerce at competitive examinations is not attracting even the
meritorious commerce students.
5. Commerce graduates are not eligible for teacher training courses, such as
B. Ed in many states.
6. Lack of knowledge about commerce at school level as commerce
education is notintroduced at school level in many states.
7. No preference or reservation for commerce graduate either in employment
Orin admissions to professional courses like C.A, CWA, CS, M.B.A. etc.
8. Poor teaching in many colleges forcing many students to go for tuitions,
which meansadditional cost and effort.
9. High student low teacher ratio.

10. Lack of proper infrastructure: - it is sometimes remarked that many

colleges are virtuallyacademic slums.
11. Instruction in regional media and inadequate or non- availability of
reading material inregional media.
12. Inadequate teaching aids like commerce lab, CTV-Video films.
13. Untrained and ill-equipped teachers.
14. It is more content oriented rather than skill and practice oriented.
15. Even the content (syllabus) is not up-to-date.
16. It is not keeping pace with the changing business environment
17. Many a time commerce graduates are found lacking communication and
decision-making skills.
18. Lack of practical exposure both to the teacher and taught. Perhaps
commerce may be the only practical subject which is theoretically taught
without practical exposure.
19. Defective admission policy - In many a case student who are not able to get
seats in other courses are opting for commerce for scholarships. In such a
case it is futile to expect wonderful results.
20. Commerce teacher is a jack of all trades: - perhaps he is the only person
who is expected to teach all the subjects.
21. Paucity of funds for improvement.
Thus, commerce education is facing innumerable problems today. These

problems have a direct bearing on the course objectives, course content and
course conduct. These problems need serious attention and close scrutiny. It is
high time for soul searching for an objective appraisal which will provide the basis
for evolving a new strategy for giving a better deal to commerce education in the
years to come. Therefore, the need for an all-out effort to re-orient and re-
designing the commerce education in such a way that it will be relevant for today
and tomorrow. For this we have to make some sort of
SWOT / TOWS ANALYSIS
T - Identify the threats to commerce education

O - Identify the areas of opportunities still available for commerce even after
providing for CA, CWA, CS and MBAs and new opportunities into which you
can enter.
W - What are your weaknesses because of which you are not preferred?
(Here, deliberateefforts have to be made to overcome the weaknesses).
S - What are your strengths, if any? It is better to concentrate on and
consolidate on your strengths.
3.11 Major issues to be addressed

The following are the major thrust areas (issues) which need to be
properly addressed to ensure relevance to our education more particularly to
commerce education
1. What should be the admission policy and procedures? What should be the
nomenclature of the degrees?
2. What skills are required to be imparted to commerce students so as to
make them cater tothe needs of industry and business?
3. Would you like them to be generalists or specialists in some skills? What
should be the nature of subjects and content of the subjects? What should
be the duration of the Course?
4. How to ensure practical exposure?
5. What is the pedagogy? (i.e., teaching methods and aids)
6. What type of examination and evaluation system is required to ensure
quality? How to ensure faculty training and development?
7. How to achieve and sustain re-designing of commerce university / college?
3.12 Re - designing of Commerce Education

Identified the domain, let us now come to the structuring/designing.
While doing so level also should be kept in mind for framing the course
objectives, course content and course conduct. The conventional levels are:
Level I - Pre-University or + two stage (Two years)
Level II - Graduation (Three years)
Level III - Post-graduation (Two years)

In the changed scenario, non-conventional duration or integrated courses

also may be thought of. While designing the courses the following should be
adhered to, which I remember to have studied in my economics subject.
Three qualifications are essential for a “Good” before it can have value- It
must possess utility (relevance); it must be scarce; it must be marketable. All these
three qualities are essential together. In the absence of any of these qualities a
“Good” will have no value at all. Of course, this aptly describes our predicament.
The main branch of business education i.e. Commerce has gone in for
quantity rather than quality, due to the pressure of demand and reached the present
stage and state. The same thing is happening in case of another branch of business
education i.e. management education. It is time for them to learn lessons from the
Commerce education. In case of other professional streams viz., CA, CWA, CS,
even though entry barriers are not there, exit is not easy. Hence, they are able to
maintain their status. All these three qualities are essential together. In the absence
of any of these qualities a “Good” will have no value at all. Of course, this aptly
describes our predicament. All these three qualities are essential together. In the
absence of any of these qualities a “Good” will have no value at all. Of course,
this aptly describes our predicament. Any re-designing requires a systematic
survey of the needs of the business and the society and a careful planning of the
structure of commerce education and the numbers required. Unfortunately, there
has been no systematic survey of manpower requirements in our country. It was
observed that “the system of higher education was producing a prototype of
manpower, whereas developing economy required wider capabilities; hence for
many jobs suitable persons were not available. There was a mismatch between
types of capabilities demanded and the types of capabilities developed among
students by the education system”. Further, the year 1991 witnessed major shifts
in economic and social development policy in India. India opened its economy to
world market by adopting a policy of economic liberalization. This in turn posed
the challenges for higher education, of producing competitive and suitable human
resources. Hence, the need for redesigning and diversifying the under-graduate
and post-graduate programs exists. Added to this, “As the economy becomes more
industrialized and society becomes more complex, the knowledge and skills
required to deal with the situations also change. Hence, for enabling students to

acquire the desired capabilities, contents of courses and their combinations need to
be revised, diversified and made more flexible”.
The first step in re-designing of commerce course is that, there should be a
survey of requirements of business and industry, in terms of nature of courses and
number of graduates. This requires a close liaison and co-operation with industry
and business to find out their requirements of men and skills. If the courses are
designed as per the requirements and the students are trained on those lines, then,
the courses become relevant and the product saleable, instead of preparing the
courses in an all pervasive manner without any market in mind. The contents and
delivery system must be tailored to meet the specific needs of the target groups for
whom the courses are designed.
The various alternatives available for re-orientation of commerce education are:
Academic Oriented Courses for giving liberal commerce education, for

developing quality of mind, logical thinking, initiative, attitude to life and a
general understanding of business. Vocational/Self Employment Oriented Courses
such as taxation, management accounting,financial analysis, cost accounting.
Job Oriented Courses such as computer accounting, salesmanship, advertising,

secretarialpractice etc., for small jobs.
Management Oriented Courses the Institutes of Management in the country are

catering to the demands of elitist managerial personnel of industry. We need a
second level of personnel to cater to the requirements of small and tiny industry.
In India, there are many small and tiny industrial units, particularly in the
rural areas which need management orientation and a fair dose of management
culture. We should strive to create a new class of LICENTIATE MANAGERS for
them with complete practical bias just as engineering and medicine. They may be
even 5 year integrated courses with commerce laboratory/workshop
3.13 Drawbacks in Commerce Education practices

Commerce education practices are the major reasons behind this criticism
such as:

1. Outdated commerce curriculum with no specialization: Conventional

commerce syllabus provides basic knowledge of various subjects like
accounting, statistics, mathematics, economics, business and corporate
law, taxation, marketing etc. This information provides students
theoretical foundation without any specialization and any sophisticated
practical knowledge. Moreover, commerce syllabus is similar to other
professional courses and do not provide any competitive advantage to
student. As students do not have any specific skills or specialized
knowledge, they start their carrier as clerks, or junior accountants. This
makes commerce education less attractive for talented, focused and
competentstudents.
2. Inadequate use of technology: In majority of the commerce
undergraduate courses there is a provision of basic knowledge of computer
education. But merely theoretical knowledge of the subject and
insufficient practical application is of no use in the job market. Other
profession courses candidates such as Chartered Accountants have a
command over basic computer software i.e. MS office as well as more
sophisticated accounting and tax software. Lack of adequate use of
technology, enable the professional courses candidates to outshine
commerce graduates in job market.
3. Outdated teaching practices: To teach the theoretical syllabus of
commerce, teacher follows the lecture mode of teaching in which they
share information with the students. Lack of interactive mode of education
or transformational learning makes the education less effective for
students. Lack of educational technology as an aid while teaching and
lack of revision by teachers about the economy and industrial
development makes the teaching practices ineffective. Lack of quality
research in commerce and ineffective teaching is also related as teaching
and research are complimentary to each other.
4. Lack of research and innovation: Theory oriented basic researches are
carried on in almost all the commerce departments. Innovative, empirical
researches are limited due to lack of guidance, direction and resources. In a
very limited number of cases costs of research are borne, either partly or

fully by the UGC, I.C.S.S.R, and the State Governments while in majority
of the cases costs are borne by the researchers. The lack of innovative and
quality-centric research in commerce field is a big drawback of commerce
education.
5. No emphasis on professionalism: It is easy for a student of any
professional course to get a good job after passing out as compare to a
commerce graduate. It is due to commerce students’ inefficiency in
interpersonal, intrapersonal, writing and presentation skills.
Notwithstanding a sound theoretical knowledge, commerce students found
themselves unsuitable for the job market.

References
Books
1. Teaching of Commerce- by Aggarwal JC. Vikas Publishing House Pvt Ltd,

2003.
2. Herrick, Meaning and Practice of Commercial Education, The Macmillan
Company, July 1904Articles and Journals
3. Pedagogy of school subject commerce- by R. P. Singh and Imtiyai
Mansoori.
4. Teaching of commerce- by Vinty Monga & Dr. Neeraj Kumar.
5. Commerce Education [ 1] Problems and Challenges of caution in Darrang
District, Assam- Abdul Aziz, Kharupatti IOSR journal of Humanities and
Social Science. 20(7): 14- 21.
6. A study about views of students on challenges in commerce education,
International Journal of Commerce and Management Research, Volume 2;
Issue 5; May 2016; Page No. 21- 23 Websites
Websites
1. https://www.dailyexcelsior.com/ modern- education- in- India/

2. http://www.indiaeducation.net/ commerce/ Indian- structure.aspx
3. http://www.indiaeducation.net/ online- education/ articles/ what- is- online-
education.html [ 4]https: / / ugcmoocs.inflibnet.ac.in/ courses.php
4. https://www.aicte-india.org/bureaus/swayam
5. https://theknowledgereview.com/ emerging- challenges- and- trends- in-
commerce- education- in-India/

CHAPTER - 4
OVERVIEW OF COMMERCE EDUCATION
4.1 Introduction
Education plays a predominant role in the overall development of a country as
the progress accomplishable in any arena depends, to a greater extent, upon the degree
of human resource development which in turn is influenced by a large number of
factors including education. National Policy on Education, 1986 has, therefore, laid
greater emphasis on the role that the education has to play. Because, education not only
empowers the pupils in terms of professional competence but also serves as a vehicle
for upward socio-economic mobility. It also provides a number of avenues even to the
less-privileged and acts as a means to remove inequalities and disparities among the
people.
Swami Vivekananda considered „education‟ as the manifestation of the
perfection already in man. As per World Book of Encyclopaedia, education is the
process by which people acquire know1edge, skill, habits, values or attitudes. The word
„education‟ is also used to describe the results of the educational process. Education
should help people to become useful members of the society. It should help them to
develop an appreciation of their cultural heritage and live more satisfying lives. The
National Policy on Education, 1986 (reviewed in 1989 and modified in 1992) states “a
human being is a positive asset and a precious national resource which needs to be
cherished, nurtured and developed with tenderness and care coupled with dynamism.
The catalytic action of education in this complex and dynamic growth process needs to
be planned meticulously and executed with greater sensitivity”.
The Report of the Special Committee for Commerce Education (196l) narrates
the story of the growth of Commerce Education in India. According to it, Commerce
Education in India began in the year 1886 when a commercial school was established
in Madras by the Trustees of Pachiapp‟s Charities. Examinations in Commerce were
conducted by the then Madras Government by about the same time. A School of
Commerce was established in Calicut (Kerala) in 1895 by the Government of India.
Commerce classes were started in the Presidency College, Calcutta, in 1903 which
later became the Government Commercial Institute. Between 1903 and 1912. The
first independent Department of Commerce was established at the Lucknow

University in 1921. The subsequent years witnessed the wide spread of Commerce
Education at the university level throughout the country. To quote Madan Mohan
Malaria" (1915), “the importance of commerce education - that is a special training for
the young men who intend to devote themselves to commercial pursuits - as a factor
in national and international progress is now fully recognized.
“Growth of trade and commerce increased the demand for Commerce
Education in India particularly in the three Presidencies as is evident from a
memorandum submitted to the Calcutta University Commission (1917-19) on behalf
of Marwari Community of the city wherein it was urged that “an early saturation of its
youth in business methods and ideas is eminently desirable”. It was only in 1940 and
onwards that sincere efforts were made in certain universities to introduce
Commerce Courses though a large number of private and proprietary institutions were
training pupils for various jobs in Commerce apart from a few professional institutions
such as The Institute of Bankers (I 926) and The Institute of Chartered Accountants of
India (1934) which are concerned with conducting professional examinations in the
field of bank.
4.2 Higher Education in India
Higher education in India: Present scenario

Since independence, the Indian higher education landscape has undergone
rapid development. The number of higher educational establishments, student‟s
enrolment, number of faculty members, infrastructure, technology, quality of medical,
vocational and technical education, and education management have improved
substantially. This is credited to a better level of monitoring, stringency in the
evaluation and constant quality maintenance being undertaken by various national
agencies. It raises socio- political awareness among the people, aids the functioning of
the democracy and engages the citizens in the nation-building process. Attaining
higher education leads people towards research, which goes on to birth innovation. As
said by Pt. Jawaharlal Nehru, the first Prime Minister of India, in his convocation
address at Allahabad University (1947), “A university stands for humanism, for
tolerance, for reason, for the adventure of ideas and the search of the truth. It stands
for the onward march of the human race towards ever-higher objectives. If the

universities discharge their duties adequately, then it is well with the Nation and the
People.”
As reported by All India Survey on Higher Education (AISHE), 2018-19,
in the country, there are 993 Universities, 39931 Colleges and 10725 independent
Institutions; 385 universities in this list are privately managed. The Bangalore urban
district has the highest number of colleges, which is 880 whereas Jaipur has 566
colleges. In terms of college density, Bihar ranks the lowest, with only seven colleges
established per lakh of eligible population (18-23 years of age), whereas Karnatakaa
tops the list with its 53 colleges in contrast to the national average of 28. Around 88
per cent of colleges in Andhra Pradesh & Uttar Pradesh are private-unaided facilities,
while 87 per cent and 16 per cent are of the same nature in Tamil Nadu and Assam,
respectively. As far as student enrolment trend goes, less than 100 admissions are made
in 16.3 per cent colleges, and a meagre four per cent of colleges have an enrolment
figure of 3000 students and above. A net estimation of enrolment amounts to about
37.4 million, with figures of 19.2 million and 18.2 million for males and females
respectively. The Gross Enrolment Ratio(GER), as calculated for the eligible group,
i.e., 18 to 23 years, is also just a little more than 26 per cent, with almost equal figures
of 26.3 per cent and 26.4 per cent, for males and females, respectively. The figures for
SC and ST candidates are around 23 per cent and 17 per cent, as compared to the
national average of 26.3 per cent with Muslims at the lowest of about five per cent.
As per the findings of the same report, the number of international students from
164 different countries worldwide enrolled in Indian higher education institutes is
47,427, out of which highest number comes from Nepal (26.88 per cent). Afghanistan
(9.8 per cent), Bangladesh (4.38 per cent), Sudan (4.02 per cent), Bhutan (3.82 per
cent) and Nigeria (3.4 per cent), with their respective shares, constitute the most
significant proportion of international students enrolled. As far as programmes are
concerned, out of the total, programmes having relatively higher enrolment were
studied to see the students‟ concentration.
1. Bachelor of Arts (BA) has 93.49 lakh students enrolled in it, which is the
highest enrolment in any program.
2. Bachelor of Science (B. Sc) has 46.80 lakh students enrolled in total;
3. 40.30 lakh students enrolled in B. Com.

4. B Tech has 21.25 lakh enrolled students, out of which 72 per cent are male
where the percentage of females is 28 per cent;
5. Bachelor of Engineering (BE) has 16.45 lakh students enrolled, out of which
71.14 percent of students are males.
6. Master of Arts (MA) has a 15.12 lakh total number of students enrolled with
61.78 percent female students.
7. BA (Hons) has 16.39 lakh students with 44.79 per cent male and 55.21 per
cent female students.
8. The highest number of PhD students come from the Science section, followed
by Engineering and Technology.
In the light of the 2018-19 AISHE report, nearly 80 per cent of the colleges are
operating privately – both partially aided and unaided – but they provide for only 66.4
per cent of the total students enrolled. Whereas, more than 33 per cent of students
come from government educational institutions. The number of universities and
similar institutions listed on AISHE portal has increased from 760 in 2014-15 to
993 in 2018-19, which is almost 30.7 per cent, as demonstrated in Fig. 1. Whereas,
the number of colleges has gone up from 38,498 in 2014-15 to 39,931 in 2018-19
by more than 3.5 per cent as shown in Fig. 2.
Number of Universities
40500
40026
39931
40000
39500
39071 39050
39000
38498
38500
38000
37500
2014 - 15 2015 - 16 2016 - 17 2017 - 18 2018 - 19
Graph No: 4.1 No. of Universities

Number of Colleges
40500
40026
39931
40000
39500
39071 39050
39000
38498
38500
38000
37500
2014 - 15 2015 - 16 2016 - 17 2017 - 18 2018 - 19
Graph No: 4.2 No. of Colleges
In larger states such as Rajasthan, Uttar Pradesh, Tamil Nadu and West
Bengal, very few universities have come up during the period 2018-19 as compared to
the previous year (Fig. 4.3).
Graph No: 4.3 Number of Universities in Major States
Enrolment at all the levels has increased over the years. The Compound
Annual Growth Rate (CAGR) is 1.8 during the last five years, but in case of
integrated courses, the CAGR is 11.2.

Graph No: 4.4 Enrolment in various universities &

its constituent units
Gross Enrolment Ratio (GER) has increased during the last five years, from
24.3 in 2014-15 to 26.3 in 2018-19. The increase is more under SC category, which
has increased from 19.1 in 2014-15 to 23 in 2018-19. In the case of ST category,
the GER has increased from 13.7 to 17.2 during this period. In comparison to
males, the increase in GER is higher for females.
Table No: 4.1 List of best educational institutions of India

under Public and Private Category
Sl Public Universities Private Universities Private

No. (as per IoE, (as per IoE, Colleges (as
Government of Government per NIRF,
India) of India) 2018- 2019)
1. IIT Bombay BITS Pilani Miranda House,
Delhi
2. IIT Delhi Manipal Academy of Hindu College,
Higher Education, Delhi
Karnataka
3. IISc Bangalore Jio Institute, Maharashtra Presidency
College,
Chennai

4. IIT Madras Amrita Vishwa St. Stephens

Vidyapeetham, Karnataka College, Delhi
5. IIT Kharagpur VIT Vellore, Tamil Nadu Lady Sriram
College for
Women, Delhi
6. Delhi University, Jamia Hamdard, New Delhi Loyola College,
Delhi Chennai
7. University of Kalinga Instt. of Industrial Shri Ram
Hyderabad, Technology, Bhubaneswar College of
Hyderabad Commerce,
Delhi
8. Jadavpur O.P JINDAL Rama Krishna
University, University, Haryana Mission
Kolkata Vivekananda
Centenary
College, Rahara,
WB
9. Anna University, Shiv Nadar University, Hansraj
Chennai Uttar Pradesh College, Delhi
(Conditional)
10. BHU, Varanasi Bharti (Satya Bharti St. Xavier‟s
Foundation), Delhi College, Kolkata
Source: Higher Education Institutions in Building India, Shibu John and Seyed E Hasnain
4.3 Higher Education in Karnataka

We have already made a beginning in the field of higher education.
Considerable progress has been made in Karnataka with the establishment of more
than twenty universities and a large number of undergraduate colleges. More
importantly, its first university is on the verge of completing hundred years. Such
progress needs to be taken into consideration before we proceed further. The aim of
this chapter is to give an overview of the present situation of higher education in
Karnataka; number of institutions of higher learning and their functions, types of
these institutions and a cursory glance at the tertiary education system in Karnataka.

The chapter does not undertake the analysis of our success or failure. It tries to present
a statistical matrix of higher education in Karnataka. This will help us to identify our
strengths and weaknesses for further analysis and discussion.
Table no: 4.2 Higher Education Matrixes
Type of Institution No. of Institutions

State Sponsored Universities 24
Deemed to be Universities 16
Private State Universities O2
Central University 01
Undergraduate Colleges 3360 *
* The data is subject to correction.
There are twenty-four State Universities. They may be categorised as

Affiliating General Universities, Affiliating Professional Universities, Non-Affiliating
Professional Universities, University for Distance Education and Specialised
Universities. Among them at least two universities have a very long history – the
University of Mysore, Mysore and Karnataka University, Dharwad. Four universities
have been established recently with the special mandate of catering to local needs.
They are Tumkur University - Tumkur, Davangere University – Davangere, Rani
Channamma University – Belgaum, Vijayanagara Sri Krishnadevaraya University -
Bellary. The Karnataka State Women‟s University - Bijapur, a full-fledged multi-
faculty affiliating university that caters exclusively to women‟s education.
Affiliating General Universities
Table No: 4.3 Affiliating Universities (Established before 1987)
Year of No. of Number of

Sl No. University Establishment PG Affiliated Website
Centres Colleges*
01 University of 1916 3 207 http://www.uni-
Mysore, mysore.ac.in
Mysore

02 Karnataka 1949 2 254 http://www.kud.ac.in

University,
Dharwad
03 Bangalore 1964 1 661 http://www.bub.ernet.
University, in
Bangalore
04 Gulburga 1980 - 277 http://www.gulbargau
University, niversity.kar.nic.in
Gulburga
05 Mangalore 1980 1 190 http://www.mangalore
University, university.ac.in
Mangalore
06 Kuvempu 1987 1 82 http://www.kuvempu.
University, ac.in
Shimoga
* The data is subject to correction Total : 1671 -
Table No: 4.4 Newly established Affiliating Universities (After 2003)
Sl Year of No. of Number of

No. University Establishment PG Affiliated Website
Centres Colleges*
Karnataka State 2003 http://www.kswu
01 Women‟s -- 80 bij.ac.in
University, Bijapur
Tumkur University, 2004 http://www.tumk
02 Tumkur -- 86 uruniversity.in
03 Davangere 2008 http://www.davan
University, 1 110 gereuniversity.org
Davangere
Rani Channamma 2010 http://www.rcub.
04 University, 2 335 ac.in
Belgaum

05 Vijayanagara Sri 2010 http://www.vskub

Krishnadevaraya 1 84 .org
University,
Bellary
* The data is subject to correction Total : --
695
Table No: 4.5 Affiliating Professional Universities
Year of Number of
SL No. University Establishment Affiliated Website
Colleges *
01 Rajiv Gandhi University
of Health Sciences, 1994 688 http://www.rguhs.ac.in
Bangalore
02 Visvesvaraya
Technological University, 1998 186 http://www.vtu.ac.in
Belgaum
03 Karnataka State Law 2009 87 http://www.kslu.ac.in
University, Hubli
* The data is subject to correction Total : 961 --
The Department of Collegiate Education, established in 1960, manages the

administration of 2477 non-professional colleges affiliated to conventional State
Universities in their respective territorial and administrative jurisdiction acrossthe
state. The department has been striving hard to reach out to remote places byimparting
quality tertiary level education to the rural mass. Perhaps no other state in India has
so many government colleges situated in rural setting as Karnataka has.
The Department of Collegiate Education is proactive and has taken many
initiatives to transform the tertiary education in the state. For more details in this
connection, visit http://www.dce.kar.nic.in
There are 972 professional affiliated colleges coming under the jurisdiction of
Rajiv Gandhi University of Health Sciences, Visvesvaraya Technological University

and Karnataka State Law University. The Agriculture, Horticulture and Veterinary
Universities have their own Constituent Colleges and off Campus centres.
The diversity in higher education institutions is an indication of many levels of
challenges that we face while dealing with the system of higher education. No one
segment of this entire system resembles the other in its functioning. Consequently, the
challenges in relation to governance and reform of these institutions are equally
multifaceted.
4.4 National Education Policy- 2020

Education is fundamental for achieving full human potential, developing an
equitable and just society, and promoting national development. Providing universal
access to quality education is the key to India‟s continued ascent, and leadership on
the global stage in terms of economic growth, social justice and equality, scientific
advancement, national integration, and cultural preservation. Universal high-quality
education is the best way forward for developing and maximizing our country's rich
talents and resources for the good of the individual, the society, the country, and the
world. India will have the highest population of young people in the world over the
next decade, and our ability to provide high-quality educational opportunities to
them will determine the future of our country.
The global education development agenda reflected in the Goal 4 (SDG4) of
the 2030 Agenda for Sustainable Development, adopted by India in 2015 - seeks to
“ensure inclusive and equitable quality education and promote lifelong learning
opportunities for all” by 2030. Such a lofty goal will require the entire education
system to be reconfigured to support and foster learning, so that all of the critical
targets and goals (SDGs) of the 2030 Agenda for Sustainable Development can be
achieved.
The world is undergoing rapid changes in the knowledge landscape. With
various dramatic scientific and technological advances, such as the rise of big data,
machine learning, and artificial intelligence, many unskilled jobs worldwide may be
taken over by machines, while the need for a skilled workforce, particularly
involving mathematics, computer science, and data science, in conjunction with
multidisciplinary abilities across the sciences, social sciences, and humanities, will
be increasingly in greater demand. With climate change, increasing pollution, and

depleting natural resources, there will be a sizeable shift in how we meet the world‟s
energy, water, food, and sanitation needs, again resulting in the need for new skilled
labor, particularly in biology, chemistry, physics, agriculture, climate science, and
social science. The growing emergence of epidemics and pandemics will also call for
collaborative research in infectious disease management and development of
vaccines and the resultant social issues heightens the need for multidisciplinary
learning. There will be a growing demand for humanities and art, as India moves
towards becoming a developed country as well as among the three largest economies
in the world.
Indeed, with the quickly changing employment landscape and global
ecosystem, it is becoming increasingly critical that children not only learn, but more
importantly learn how to learn. Education thus, must move towards less content, and
more towards learning about how to think critically and solve problems, how to be
creative and multidisciplinary, and how to innovate, adapt, and absorb new material
in novel and changing fields. Pedagogy must evolve to make education more
experiential, holistic, integrated, inquiry-driven, discovery-oriented, learner-centered,
discussion-based, flexible, and, of course, enjoyable. The curriculum must include
basic arts, crafts, humanities, games, sports and fitness, languages, literature, culture,
and values, in addition to science and mathematics, to develop all aspects and
capabilities of learners; and make education more well-rounded, useful, and fulfilling
to the learner. Education must build character, enable learners to be ethical, rational,
compassionate, and caring, while at the same time prepare them for gainful, fulfilling
employment.
The gap between the current state of learning outcomes and what is required
must be bridged through undertaking major reforms that bring the highest quality,
equity, and integrity into the system, from early childhood care and education
through higher education. The aim must be for India to have an education system by
2040 that is second to none, with equitable access to the highest-quality education for
all learners regardless of social or economic background.
This National Education Policy 2020 is the first education policy of the 21 st
century and aims to address the many growing developmental imperatives of our
country. This Policy proposes the revision and revamping of all aspects of the
education structure, including its regulation and governance, to create a new system

that is aligned with the aspirational goals of 21st century education, including SDG4,
while building upon India‟s traditions and value systems. The National Education
Policy lays particular emphasis on the development of the creative potential of each
individual. It is based on the principle that education must develop not only
cognitive capacities - both the „foundational capacities‟ of literacy and numeracy and
„higher-order‟ cognitive capacities, such as critical thinking and problem solving –
but also social, ethical, and emotional capacities and dispositions.
The rich heritage of ancient and eternal Indian knowledge and thought has
been a guiding light for this Policy. The pursuit of knowledge (Jnan), wisdom
(Pragyaa), and truth (Satya) was always considered in Indian thought and philosophy
as the highest human goal.
Previous Policies
The implementation of previous policies on education has focused largely on
issues of access and equity. The unfinished agenda of the National Policy on
Education 1988. A good education institution is one in which every student feels
welcomed and cared for, where a safe and stimulating learning environment exists,
where a wide range of learning experiences are offered, and where good physical
infrastructure and appropriate resources conducive to learning are available to all
students. Attaining these qualities must be the goal of every educational institution.
However, at the same time, there must also be seamless integration and coordination
across institutions and across all stages of education.
The fundamental principles that will guide both the education system at large, as
well as the individual institutions within it are:
1. Recognizing, identifying, and fostering the unique capabilities of each student,
by sensitizing teachers as well as parents to promote each student‟s holistic
development in both academic and non-academic spheres.
2. According the highest priority to achieving Foundational Literacy and
Numeracy by all students by Grade 3.
3. Flexibility, so that learners have the ability to choose their learning trajectories
and programmes, and thereby choose their own paths in life according to their
talents and interests.

4. No hard separations between arts and sciences, between curricular and extra-
curricular activities, between vocational and academic streams, etc., in order
to eliminate harmful hierarchies among, and silos between different areas of
learning.
5. Multi disciplinarily and a holistic education across the sciences, social
sciences, arts, humanities, and sports for a multidisciplinary world in order to
ensure the unity and integrity of all knowledge.
6. Emphasis on conceptual understanding rather than rote learning and learning-
for-exams.
7. Creativity and critical thinking to encourage logical decision-making and
innovation.
8. Ethics and human & Constitutional values like empathy, respect for others,
cleanliness, courtesy, democratic spirit, spirit of service, respect for public
property, scientific temper, liberty, responsibility, pluralism, equality, and
justice.
9. Promoting multilingualism and the power of language in teaching and
learning.
10. Life skills such as communication, cooperation, teamwork, and resilience.
11. Focus on regular formative assessment for learning rather than the summative
assessment thatencourages today‟s „coaching culture‟.
12. Extensive use of technology in teaching and learning, removing language
barriers, increasing access for Divyang students, and educational planning and
management.
13. Respect for diversity and respect for the local context in all curriculum,
pedagogy, and policy, always keeping in mind that education is a concurrent
subject.
14. Full equity and inclusion as the cornerstone of all educational decisions
to ensure that all students are able to thrive in the education system;
15. Synergy in curriculum across all levels of education from early childhood
care andeducation to school education to higher education.
16. Teachers and faculty as the heart of the learning process – their
recruitment, continuous professional development, positive working
environments and service conditions.

17. A „light but tight‟ regulatory framework to ensure integrity, transparency, and
resource efficiency of the educational system through audit and public
disclosure while encouraging innovation and out-of-the-box ideas through
autonomy, good governance, and empowerment.
18. Education is a public service; access to quality education must be considered
a basic right ofevery child.
19. Substantial investment in a strong, vibrant public education system as well
as the encouragement and facilitation of true philanthropic private and
community participation.
The Vision of this Policy

This National Education Policy envisions an education system rooted in Indian
ethos that contributes directly to transforming India, that is Bharat, sustainably into an
equitable and vibrant knowledge society, by providing high-quality education to all,
and thereby making India a global knowledge superpower. The Policy envisages that
the curriculum and pedagogy of our institutions must develop among the students a
deep sense of respect towards the Fundamental Duties and Constitutional values,
bonding with one‟s country, and a conscious awareness of one‟s roles and
responsibilities in a changing world. The vision of the Policy is to install among the
learners a deep-rooted pride in being Indian, not only in thought, but also in spirit,
intellect, and deeds, as well as to develop knowledge, skills, values, and dispositions
that support responsible commitment to human rights, sustainable development and
living, and global well-being, thereby reflecting a truly global citizen.
School education
This policy envisages that the extant 10+2 structure in school education will
be modified with a new pedagogical and curricular restructuring of 5+3+3+4 covering
ages 3-18 as shown in the representative figure

Fig no: 4.1 School Education
Higher Education
Quality Universities and Colleges: A New and Forward-looking Vision for India‟s
Higher Education System given the 21st century requirements, quality higher
education must aim to develop good, thoughtful, well-rounded, and creative
individuals. It must enable an individual to study one or more specialized areas of
interest at a deep level, and also develop character, ethical and Constitutional values,
intellectual curiosity, scientific temper, creativity, spirit of service, and 21st century
capabilities across a range of disciplines including sciences, social sciences, arts,
humanities, languages, as well as professional, technical, and vocational subjects.
A quality higher education must enable personal accomplishment and enlightenment,
constructive public engagement, and productive contribution to the society. It must
prepare students for more meaningful and satisfying lives and work roles and enable
economic independence. skills and values will be incorporated at each stage of
learning, from pre-school to higher education. At the societal level, higher education
must enable the development of an enlightened, socially conscious, knowledgeable,
and skilled nation that can find and implement robust solutions to its own problems.
Higher education must form the basis for knowledge creation and innovation thereby
contributing to a growing national economy. The purpose of quality higher education
is, therefore, more than the creation of greater opportunities for individual

employment. It represents the key to more vibrant, socially engaged, cooperative

communities and a happier, cohesive, cultured, productive, innovative, progressive,
and prosperous nation. Some of the major problems currently faced by the higher
education system in India include:
1. A severely fragmented higher educational ecosystem;
2. Less emphasis on the development of cognitive skills and learning outcomes;
3. A rigid separation of disciplines, with early specialisation and streaming
of students into narrow areas of study;
4. Limited access particularly in socio-economically disadvantaged areas, with
few HEIs thatteach in local languages
5. Limited teacher and institutional autonomy;
6. Inadequate mechanisms for merit-based career management and progression
of faculty and institutional leaders;
7. Lesser emphasis on research at most universities and colleges, and lack This
policy envisions a complete overhaul and re-energising of the higher education
system to overcome these challenges and thereby deliver high-quality higher
education, with equity and inclusion. The policy‟s vision includes the
following key changes to the current system:
8. Moving towards a higher educational system consisting of large,
multidisciplinary universities and colleges, with at least one in or near every
district, and with more HEIs across India that offer medium of instruction or
programmes in local/Indian languages;
9. Moving towards a more multidisciplinary undergraduate education;
10. Moving towards faculty and institutional autonomy;
11. Revamping curriculum, pedagogy, assessment, and student support for
enhanced student experiences;
12. Reaffirming the integrity of faculty and institutional leadership positions
through merit-appointments and career progression based on teaching,
research, and service;
13. Establishment of a National Research Foundation to fund outstanding peer-
reviewed research and to actively seed research in universities and colleges;
14. Governance of HEIs by high qualified independent boards having academic
andadministrative autonomy;

15. “Light but tight” regulation by a single regulator for higher education;
16. Increased access, equity, and inclusion through a range of measures, including
greater opportunities for outstanding public education; scholarships by
private/philanthropic universities for disadvantaged and underprivileged
students; online education, and Open Distance Learning (ODL); and all
infrastructure and learning materials accessible and available to learners with
disabilities.
Institutional Restructuring and Consolidation

The main thrust of this policy regarding higher education is to end the
fragmentation of higher education by transforming higher education institutions into
large multidisciplinary universities, colleges, and HEI clusters/Knowledge Hubs, each
of which will aim to have 3,000 or more students. This would help build vibrant
communities of scholars and peers, break down harmful silos, enable students to
become well-rounded across disciplines including artistic, creative, and analytic for
those who have completed the 3-year Bachelor‟s programme; (b) for students
completing a 4-year Bachelor‟s programme with Research, there could be a 1-year
Master‟s programme; and (c) there may be an integrated 5-year Bachelor‟s/Master‟s
programme. Undertaking a Ph.D. shall require either a Master‟s degree or a 4-year
Bachelor‟s degree with Research. The M.Phil. programme shall be discontinued.
Model public universities for holistic and multidisciplinary education, at par
with IITs, IIMs, etc., called MERUs (Multidisciplinary Education and Research
Universities) will be set up and will aim to attain the highest global standards in
quality education. They will also help set the highest standards for multidisciplinary
education across India.
HEIs will focus on research and innovation by setting up start-up incubation
centres; technology development centres; centres in frontier areas of research; greater
industry-academic linkages; and interdisciplinary research including humanities and
social sciences research. Given the scenario of epidemics and pandemics, it is critical
that HEIs take the lead to undertake research in areas of infectious diseases,
epidemiology, virology, diagnostics, instrumentation, vaccinology and other relevant
areas. HEIs will develop specific hand holding mechanisms and competitions for
promoting innovation among student communities. The NRF will function to help

enable and support such a vibrant research and innovation culture across HEIs,
research labs, and other research organizations.
4.5 Commerce Education in India

Besides the above, the following factors contributed specifically and
significantly for the growth of Commerce Education in the country.
1. Growth of industry and trade has created a wide range of jobs in businesses for
which a broad type of education with limited specialized training as obtained
by the graduate studies in Commerce.
2. The non-business market for Commerce graduates has been steadily growing
with the public sector in the form of demand for accountants, financial and
personnel experts in government agencies.
3. Some business training is being considered a desirable background for the
legal profession, much of which in developing countries is concerned with
legal problems of business firms.
4. Increasing emphasis on organizational problems consequent upon the growth
in the size of firms and the recent emphasis on management given in
Commerce Education have raised manifold the attractiveness of Commerce
Education.
5. Growing scientific attitude towards the problems of management since the
emergence of F.W. Taylor and the mounting need for highly trained staff
specialists have emphasized the need for foundation training in the relevant
basic disciplines which is provided by graduate studies in Commerce.
6. The realization on the part of the small businessman of the urgency of
modernizing his organization in the face of increasing intensity of the
education.
The statistics also reveal that at the national level, Maharashtra State has the
maximum number of colleges followed by Karnataka and Uttar Pradesh States. It is
quite natural that the industrially developed states like Maharashtra and Uttar Pradesh
have shared the top positions as far as the number of colleges are concerned.
However, it is very difficult to generalise as the figures for other states give different
meaning. In southern part of the country, Karnataka tops the list with 1,057 colleges
followed by Andhra Pradesh and Tamil Nadu States. North Eastern States are having

minimum number of colleges and some of the Union Territories like Dadra and
Nagarhaveli as well as Lakshadweep have no colleges at all. All these show the
regional disparities as far as educational activities are concerned.
Table No: 4.6 Number of Universities, Colleges and Students (All India)
Year Number of……

Universities Colleges Students
1950 – 51 30 578 2,63,000
1960 – 61 49 1819 6,45,000
1970 – 71 93 3277 19,54,000
1980 – 81 123 4738 27,52,000
1990 – 91 177 5748 44,25,000
1995 – 96 207 5748 64,26,000
2000 – 05 230 11146 70,00,.000
2005 – 10 554 18064 85,60,000
2010 – 15 757 31324 2,30,00,000
2015 – 21 1003 39931 3,74,00,000
Source: 1. Dr. Singh C.D. - “Graduate Education in Commerce”
2. Gujarathu R.J. - “Role of Commerce & Management Teachers in Changing
times” – The Indian Journal of Commerce
Growth of Commerce Education can be ascribed partly to general causes and

partly to special causes. The general causes are:
1. Growth of population in conjunction with the spread of democratic ideal of
universal primary education has played a major role.
2. Industrialisation, modernisation and technological revolution have been a
second group of contributing factors. They not only provide the urge and
leisure for higher education but also increased the need for specialists in
various fields of economic activity.
3. Economic affairs which emphasised the needed for well educated women with
different kinds of skills and knowledge.

4.6 Commerce Course in Karnataka

The details about the number of colleges in each University‟s jurisdiction in the
state of Karnataka are presented below.
Table No: 4.7 Number of Colleges Offering Commerce Courses
Number of Number of Private Colleges

University Government Aided Unaided Total Total
Colleges
Bangalore 25 53 73 126 151
Gulbarga 16 28 03 31 47
Karnataka 13 81 22 103 116
Kuvempu 14 25 23 48 62
Mangalore 14 32 12 44 58
Mysore 16 25 28 53 69
Total 98 211 161 405 503
Source: Records of the Department of Collegiate Education, Government of
Karnataka, Bangalore.
It can be observed from the table that more than 500 colleges in the state are
offering Commerce Courses. Bangalore University has the maximum number of
colleges (151) followed by Karnataka University with 116 colleges. Gulbarga
University occupies the last place with only 47 colleges. Bangalore University is also
having the maximum number of both the government and the private colleges while
Karnataka University has the minimum number of government colleges. In the case
of aided colleges, Karnataka University stands first followed by Bangalore University.
As far as the private unaided colleges are concerned, Bangalore University again
occupies the first place and the last place goes to Gulbarga University. It may be
noted further that the number of government colleges offering commerce courses is
only 98 out of 151 and out of 765 private colleges, 405 colleges are offering
Commerce Courses. That means, the percentage of government colleges offering
Commerce Courses is more at 64.9% than that of private colleges at 52.94%. Further,
it may be noted that the percentage of Private Aided colleges offering commerce
courses is more at 83.56% (244 out of 292) than that of Private Unaided colleges at
only 34.04% (161 colleges out of 473).

4.7 Rural and Urban Commerce Colleges

Majority of the colleges which are offering Commerce Courses either
exclusively or in addition to other graduation courses (viz., B. A and B. Sc) are in
urban area. This is evident from the following.
Table No: 4.8 Locality wise No. of Colleges offering commerce courses
Number of Urban Colleges Number of Rural Colleges
Private Private
Government
Government
University Total
Total
Total
Unaided
Unaided
Aided
Aided
Total
Total
Bangalore 43 67 110 8 118 10 6 16 17 33 151
Gulbarga 13 3 16 4 20 15 ꟷ 15 12 27 47
Karnataka 21 6 27 ꟷ 27 60 16 76 13 89 116
Kuvempu 10 9 19 3 22 15 14 29 11 40 62
Mangalore 10 3 13 1 14 22 9 31 13 44 58
Mysore 13 14 27 4 31 12 14 26 12 38 69
Note: „ꟷ‟ represents Zero
Source: Records of the Department of Collegiate Education, Government of Karnataka,
Bangalore.
The above table which shows the number of colleges offering Commerce
Courses indicates that the number of colleges offering Commerce Course in rural area
is more than that in urban area in the state accounting for 53.5% and 46.1%
respectively. It is also obvious from the table that the number of government colleges
in rural areas is almost four times that of in urban areas. This is an indication of the
initiative taken by the government to provide Commerce Education to the rural
students. It has established at least eleven colleges in rural area in each of the
universities to offer Commerce Education. Maximum number of urban colleges in
private sector can be noticed in Bangalore University and the least in Mangalore
University. Karnataka University stands first with 89 colleges (32.8%) in rural areas
to offer Commerce Courses and also having the maximum number of private colleges
followed by Mangalore University.

4.8 Men Vs Women’s Commerce Colleges
The details about the Men, Women and Co-educational colleges offering
Commerce Courses in Karnataka are presented in the table below.
Table No: 4.9 Number of Men’s, Women’s and Co-educational colleges in

Karnataka
Number of Number of Co-

Number of
Women's educational
Men's colleges
colleges colleges
Government
Government
Government
University Total
Private
Private
Private
Total
Total
Total
Bangalore 3 4 7 3 25 28 19 97 116 151
Gulbarga ꟷ 2 2 ꟷ 6 6 16 23 39 47
Karnataka ꟷ ꟷ ꟷ 1 12 13 12 91 103 116
Kuvempu ꟷ ꟷ ꟷ 1 8 9 13 40 53 62
Mangalore ꟷ ꟷ ꟷ ꟷ 5 5 14 39 53 59
Mysore ꟷ ꟷ ꟷ 2 11 13 14 42 56 69
Total 3 6 9 7 67 74 88 332 420 503
Note: „ꟷ‟ represents Zero
Bangalore.
The contents of the table reveal that out of 503 colleges in the state offering
Commerce Course, co-educational colleges account for the highest number with 420
accounting for 83.5% (420/503) followed by women‟s colleges 14.7% (7J/503) and
lastly, men‟s colleges accounting for only 1.8% (9/503). It is obvious from the table
that co-educational colleges exist in the jurisdiction of all the universities in the state
and they are highest in Bangalore University area followed by Karnataka University
(27.7% and 24.5% respectively). The number of private co-educational colleges,
women colleges and men colleges offering Commerce Course exceed that of
government colleges as a whole in the state.
It can also be noted that except Bangalore University, no other university has
men‟s government colleges offering Commerce Course and Karnataka, Kuvempu.
Mangalore and Mysore Universities have no either government or private men
colleges in this category contributing nothing in this regards the state except

Gulbarga and Mangalore Universities in which private colleges are also less than in
other 04 universities. Institutions Run by Minorities, SC and ST Associations, etc.
The details about the number of colleges run by the minorities (religious and
linguistics), SC and ST associations and Mutts are presented below. It may be noted
that most of these colleges are offering Commerce Course in addition to other
graduate courses.
Table No: 4.10 Number of colleges (offering Commerce courses) run by

Minorities, SC & ST Associations etc.
Number of Colleges Number of Colleges

University run by Minorities run by…. Total
Religious Linguistic SC & ST's Mutt's
Bangalore 25* + 6 5 36
Gulbarga 1 ꟷ 2 5 8
Karnataka 10 4 ꟷ 14 28
Kuvempu 1 ꟷ 13 11 25
Mangalore 11 4 ꟷ 2 17
Mysore 5 ꟷ 7 6 18
Total 53 8 28 43 132
Note: „ꟷ‟ represents Zero, „*‟ represents Muslims, Christens & Jains, „+‟represents
Tulu, Marathi & Konkani
Bangalore.
The table reveals that a sizeable number of institutions offering Commerce
Course are run by the minorities (both linguistic and religious), SC and ST
Associations and Mutts. In case of minorities. Christian institutions take the lead and
except Kuvempu University, all other universities have the affiliated colleges offering
Commerce Course. In case of unaided colleges, only Bangalore and Kuvempu
Universities have the institutions by Christians.
4.9 Commerce Education at Graduate Level

Higher education in Commerce was not offered in the old Mysore State till
1930. Candidates interested in Commerce Course after high school were required to
take up a certificate course called L. Com (Licentiate Commerce) and this course was
offered in the States like Grater Bombay, West Bengal, and Delhi schools. In the old
Mysore State, L. Com was started in 1934 in Bangalore just on an experimental basis

by the efforts of some teachers. More interestingly, these teachers were not the
Commerce teachers but the Economics teachers. Late T.R. Shamanna was the person
who took the initiative in starting L. Com Course at Basavanagudi, Bangalore.
However, L. Com Course was not successful due to many reasons. The important
reason was that the course did not have the State recognition as it was started
privately. Another reason was the lack of proper and clear-cut idea about the subjects
to be taught for L. Com Course students.
To overcome these drawbacks, a Diploma Course in Commerce [D. Com] was
started during 1939-40. It was nothing but the L. Com Course with some
modifications. World War-II (1939-44) helped the spread of D. Com Course in old
Mysore State. A number of private institutions were started exclusively to offer D. Com
Course.
At higher levels, Commerce Education in old Mysore State was started in
Bangalore in a government college. In the first phase, “Intermediate Commerce
Course” (I. Com) was started inl944 and the duration of the course was two years. The
course was first started in Poorna Prasad Building, Race Course Road, Bangalore and
during 1954, it was shifted to the present R.C. College of Commerce building. After I.
Com, the students willing to pursue their higher studies had to take up a degree course
called Bachelor of Commerce (B. Com). This course was of two-year duration and it
was also started in a government college, Bangalore. The first batch of B. Com
graduates came out during the year 1948. Thus, the higher education in Commerce had
four-year duration and was on par with other degree courses such as B.A, and B.Sc.
4.10 Establishment of Commerce Faculties

Not only at the start but also for quite a considerable period of time commerce
courses were biased in favour of economics subjects as the professors in-charge had
mostly training in economics. Eventually, the growth of a separate class of commerce
teachers, development of commerce education abroad, growth of commerce and
industry in the Indian economy and the demand it made for professional personnel, the
emergence of professional associations connected with commerce etc. “brought a
change in the commerce curricula and greater emphasis began to be placed on
commerce subjects proper in the B.Com. syllabi. Thus Accountancy and its allied
subjects like Costing, Income-Tax, Accounts and Auditing, Business Statistics,

International Commerce and Transport were included in the curriculum. At the same
time within the purview of Economics subjects like Economic History, Co- opera6on,
Rural Economics, etc. were removed or kept as mere optional. Many universities at
the M.Com. level introduced practical training schemes as well. In most of the
universities and colleges, practicing accountants and lawyers were appointed as part
time lecturers to make teaching in these subjects as effective as possible. Then came a
management bias in commerce education. This was partlybecause of the popularity of
management courses abroad and partly because of the increasing demand in recent
times for management personnel in India. Many universities introduced in their
B.Com. and M.Com. Curriculum, subjects like Business Administration, Business
Forecasting, Personnel Administration, and Industrial Relations.
4.11 Commerce Education Abroad

At the university level, commerce education abroad began in U.S.A. with the
foundation of the Wharton School of Finance and Commerce in 1881 and in United
Kingdom with the establishment of the Faculty of Commerce at the Birmingham
University in 1901. Since then the setting up of departments of commerce at civic
universities, such as Leeds, Manchester etc. led to the creation of teaching posts in
economics in increasing numbers. Since then economics constitutes one of the basic
disciplines of commerce studies.
Academic preparation for business careers in U.S.A. has been traditionally
considered an aspect of the study of economics. Even today the main framework of
the syllabi in this field is provided by economics. In U.K. commerce departments as
such are not necessarily in commerce faculties of universities.
4.12 Business Education in USA

According to Gordon and Howell - Collegiate business education is largely a
product of the twentieth century. Today, it is a restless and uncertain giant in the halls
of higher education. It enrols considerably more male students than either engineering
or the natural sciences and mathematics combined. There is no question that the
school or department of business has established itself firmly on the college campus.
Teachers in the humanities look glumly on while students flock to its doors.
But it is an uncertain giant, gnawed by doubt and harassed by the barbs of
unfriendly critics. It seeks to serve several masters and is assured by its critics that it

serves none, well. The business world takes its students but depreciates the value of
their training, extolling instead, the virtues of science and the liberal arts. It finds itself
at the foot of the academic table, uncomfortably nudging those other two stepchildren,
Education and Agriculture. It is aware of its ungainly size and views
apprehensively the prospect of still further growth, knowing that even now it lacks the
resources to teach well the horde of students who come swarming in search of a
practical education.
It is no wonder, then, that „Schools of Business Administration across the nation
are trying, sometimes almost desperately, to find their souls.‟ They are „bedevilled by
the problems of whom to teach and what teach‟. They seek to clarify their purpose and
to find out their proper place in the educational world. They search for academic
respectability, while most of them continue to engage in unrespectable, vocational
training. They seek to be professional schools, while expressing the doubt themselves
that the occupations for which they prepare students can rightfully be called a
profession.
This has been the problem of business education since the latter decades of the
twentieth century. The need for competent, imaginative, and responsible business
leadership is greater than ever before; the need becomes more urgent as business
grows even more complex and as the environment with which it has to cope up
continues to change at an accelerating rate. Business educators debate with each other
and with their critics as to how this need can best be met, or at least be met better than
is now being done; that is, the more thoughtful and alert ask the question and debate
the issue. The others plod in a rut they dug long ago. For them, it is enough to tell
their students what business did yesterday and the day before.
It is not only the business schools that are concerned about their purpose and
their future. Business itself is showing an unparalleled interest in the educational
process and it too is asking the question. How should businessmen be educated? At
commencement time company recruiters swarm over the college campuses, frequently
seeking that non- extent paragon, „the broadly educated specialist‟, but setting for an
engineering or business degree and a pleasant personality. Company officials are sent
back to the colleges to participate in „executive development programmes‟ and even
to study the humanities. Employees, in all ranks go to school within the company

walls. Aspiring candidates for advancement throng the evening classes conducted by
the urban universities and technicalschools, frequently at their employer‟s expense.
Business itself is pulled in two directions. It feels increasingly the need for
educated men who have breadth, perspective, and flexibility of mind to cope with a
business environment that grows in complexity and changes with bewildering
rapidity. Yet it also feels the pressure for more and better-trained specialists who can
master the technical problems that have been spawned by the technological and
organizational revolution of the twentieth century. Thus business looks to the colleges
to give it generalists and specialists, if possible, embodied in the same person. There
is an agreement that only business needs more and better-educated young men and
women. The dimensions of more are simple to understand; they have to do with
bricks and mortar, dollars, students and above all, teachers.
4.13 Objectives of Teaching Commerce

Objectives are the specific and precise behavioural outcome of teaching a
particular topic in commerce. The objectives of topic in commerce help in realizing
some general aim of teaching commerce. The characteristics of a good objective are
as under.
1. It should be specific and precise.
2. It should be attainable.
To understand the objectives of teaching commerce, it is essential to
understand the nature of commerce education. According to John Devey, "Education is
not a preparation of life, but life itself. According to Mahatma Gandhi, "Man is neither
mere intellect nor the gross animal body, nor the heart nor soul alone. A proper and
harmonious combination of all the three is required for making the whole men and it
constitutes the true economics of education”. Further” A perfect well balanced all
round education is one in which the intellect, the body and the spirit have all full play
and develop together into a natural harmonious whole". Commerce education is to be
imparted keeping in view the above ingredients of Education.
4.14 Blooms' Taxonomy of Objectives

Bloom‟s taxonomy of objectives is a classification of instructional objectives
in a hierarchy. According to it, specific objectives have been classified into the
following three categories:

1. The cognitive domain objectives include knowledge, understanding,

applications, analysis, synthesis and evaluation.
2. The affective domain objectives include the appreciation, values, attitude,
interests and feelings.
3. The Psychomotor domain objectives include skills.
A brief discussion of objectives is as follows:
1. Knowledge
To impart knowledge is the basic purpose of education and so it is naturally
the basic purpose of teaching of any subject including commerce. By imparting
knowledge of commerce to the student, it is expected that he/she acquires the
knowledge about:
A. The nature, functions and responsibilities of commerce in society.
B. Economic education directed towards better understanding of economic
environment and better use of services of business.
C. Their interests and abilities in commerce as a field of work.
Knowledge objective is considered to have been achieved if the student is able
to recall and recognizes various terms, facts, symbols concepts etc.
2. Understanding
This objective is considered to have been achieved if the student is able to:
A. Interpret charts, graphs, data, concepts etc. correctly.
B. Illustrate concepts, facts, phenomenon etc.
C. Discriminate between deterrent facts, concepts etc. that are closely related to
eachother.
D. Identify relationships between various facts, concepts, phenomenon etc.
E. Find faults, if any, in statements, concepts etc.
3. Application
This objective seems to be the most neglected one in our educational system. It
can be achieved to a great extent if a student is able to:
A. Analyse a given data.
B. Formulate hypotheses from his observations.
C. Confirm or reject a hypothesis.

D. Correctly infer the observed facts.

E. Find cause and effect relationship.
F. Give new illustrations.
G. Predict new happenings.
H. Find relationships that exist between various facts, concepts, phenomenon learnt
by him.
4. Skill
Under this head it is expected that the study of commerce helps the student
A. To develop skills of organizing and managing different business machines so
thatthey get acquainted with the daily activities of an office.
B. To develop skills in drafting of official correspondence, so that he/she may do
well on being appointed in an office.
C. Be able to serve in different sectors of trade, commerce and business.
D. To enable students to prosecute their higher education with better and complex
skills needed.
5. Interest
In order to achieve this objective, the student is provided with certain
commercial hobbies and other leisure time activities. By providing such activities our
aim is to inculcate, among the student, a living and sustaining interest in the
environment in which he / she lives.
This is considered to have been achieved if the student becomes curious and
develops such an interest in commerce that he/she is always eager to:
A. Take up some interesting commercial hobby.
B. Visit places of commercial interest.
C. Undertake some projects in commerce.
D. Meet and interact with some reputed persons in various fields of
commerce.
E. Actively participate in debates, declamation, contests, quiz etc.
6. Appreciation
To attain this goal, teaching of commerce has to be done in an evolutionary
way. For this the curriculum should include such topics where it is possible to reveal

suitable biographical anecdotes, stories etc., this objective is considered to have been
achieved, if the student is able to:
A. Appreciate the organization and management of business organization and to
know how various communities are benefited by his/her activities.
B. Develop ability to appreciate the services rendered by national and
international trade and commerce.
Appreciate the activities of the various instruments of business credits adopted by
business houses.
4.15 Overview of commerce trends in India

Modern commerce world has been so developed that many transitions can be
done in fraction of seconds. E-commerce and increasing use of mobile has
transformed the face of business. This article is about the modern technology impact
in commerce and government initiative for growth in commerce. Commerce is the
activity of buying and selling of goods and services, especially on a large scale. The
system includes legal, economic, political, social, cultural and technological systems
that are in operation in any country or internationally. Thus, commerce is a system or
an environment that affects the business prospects of economies. It can also be
defined as a component of business which includes all activities, functions and
institutions involved in transferring goods from producers to consumers. In historic
times, the introduction of currency as a standardized money, facilitated a wider
exchange of goods and services, although initial usage involved unmarked lumps of
During the middle Ages, commerce developed in Europe by trading luxury goods
at trade fairs. Wealth became converted into movable wealth or capital. Banking
systems developed where money on account was transferred across national
boundaries. With the help of modern technology this could happen therefore we have
focused on below two legs:
1. E-Commerce
2. Mobile –Commerce
4.16 E-commerce
Information and communication technology (ICT) is radically transforming the
way individuals, organizations, and governments work. The internet in today‟s
information societies has become an essential channel that is used for dissemination

of information, products, and services. People prefer to use the internet as a

transaction tool in different areas, such as, learning, shopping, marketing, travel,
trading, etc., governments have realized the importance of the internet and have
undertaken critical transformations to use it to deliver public services, so that citizens
can always access them regardless of their Businesses implementing E-Commerce in
developing countries face substantially greater challenges than businesses in
developed countries due to the unreliability of the internet connection, the poor
availability of accessing it due to the poor infrastructure.
Today commerce includes as a subset a complex system of companies which
try to maximize their profits by offering products and services to the market at the
lowest production cost. Online marketplaces enable the various Small industries to
showcase their products across the country, giving them access to a wider audience
and helping them grow their business. For sustainable business and economic growth,
all the e- commerce players should collaborate and reduce business barriers for small
business enterprises to enable e-commerce adoption.
Note: High - web SMEs - These companies use a wide range of internet tools to
market, sell and support. Low - web SMEs - These companies have a website or a
social networking site or have no web site at all.
Source: The internet Economy in the G20, BCG
Fig no: 4.5 Percentage of SMEs who use the internet for business activities
From above comparison it is clear that SMEs have begun to recognize the
potential of e- commerce and understand that its adoption could play a major role in
enabling growth for their business, both in domestic and international markets. When
Indian SMEs are compared to those from other emerging countries such as China,
Brazil and Indonesia, it is found that on an average 100per cent of the high-web SMEs
have a website, use the internet for online advertising and transact using e-commerce.

One of the primary reason for difference in contribution to export is that e-

commerce transcends geographic boundaries and level the playing field by enabling
visibility and trade across buyers and sellers who are located in distant geographies.
Further, online transactions supported /enabled by reputed e-commerce organizations
also allay any fears rooted in perceived trust deficits. With fears such as rating
systems, feedback mechanisms, blacklisting, Payment options and tools, security and
trust certificates. The online ecosystem builds enough trust in the market, almost
immediatelyas compared to the years of effort required in the offline market.
Source: Commerce 3.0 for Development, eBay

Fig No: 4.6 Showing the details of technology enabled SMEs participate in the
export economy in India
4.17 Mobile commerce

Business through mobile phones have become an inevitable part of the global
world and are becoming a modern trend of managing commercial life. The utility of e-
commerce has proved the faster technology that facilitates eservices and give
numerous opportunities to access numerous persons and customers to benefit the
organizations. The e-services through mobile phones can benefit in so many ways to
the customers as well as to the organizations, assessing new customers who would
never have used a computer or who are simply busy to get to one. The smarter
facilities, such as dual slot phones that have complete facility available in e-commerce
provide wide scope to customers. As eservices like internet banking, online
shopping, and online share dealings that were not accessible during travel, are now
possible on mobile phones, this has given rise to mobile commerce or m-commerce.

It has been made possible by the new technologies that allow mobile phones
and other handled devices to access the internet. M-commerce is a wireless access to
personal information, to internet content, and it has intelligent telephone services also.
It may be applied for the scope of e-bills, ticketing, e-salaries, security services,
shopping, auctions, retailing, advertising, reservations, membership schemes,
passports and other endless possibilities. Mobile -commerce has made possible to the
management of any organization to tackle the dealings and to take care of all the
employees.
Source: World Bank, IAMAI, Aranca Research

Fig No: 4.7 Users by mode to access internet (%) - Internet usage through mobile
phones to grow
4.18 India Foreign Direct Investment

Foreign direct investment induces the investment in any country but on the
contrary it affects the business of locals in the nations for instance: Amazon and eBay
operate in India as online marketplaces. These companies do not own any inventory;
do not sell any of their own merchandise but offer products from third parties to
Indian consumers. The Commerce Ministry's discussion paper last year listed
objections it received from a national body of traders to open up B2C e-commerce to
FDI:
1. Small time trading of opening corner stores still remains a large source of
employment. FDI will have disastrous impact on this sector leading to
monopolies in logistics, manufacturing and e-commerce. It will cause large
scale unemployment

2. Because of scale of operations, e-commerce players will have more bargaining

power than standalone traders
3. Allowing FDI in ecommerce will provide such players enormous geographical
reach and this will be against the spirit of FDI in multi-brand retail which is
restricted to cities with more than a million people of all the objections, only
the one which points out violation of condition for FDI in multi brand
retail makes sense. The Government should lift the restriction on brick and
mortar retail too - that is the only way Indian manufacturing can grow.
Restricting foreign investment in retail trade - online or offline - has lost its
appeal now.
Source: www.tradingeconomics.com | Reserve Bank of India

Fig No: 4.8 India Foreign Direct investment
Foreign Direct Investment in India increased by 5035 USD Million in October

of 2015. Foreign Direct Investment in India averaged 1110.40 USD Million from
1995until 2015, reaching an all-time high of 5670USD Million in February of 2008.
4.19 Special economic zones

Special Economic Zones (SEZs) denote geographical areas which enjoy
special privileges as compared with non-SEZs areas in the country. The main
motivating forces for setting up SEZs came from the Ministry of commerce with a
view to boost exports of goods and services, provide employment and increase
investment from domestic and foreign sources. The SEZ policy was introduced in
April 2000 to provide internationally competitive and hassle-free environment for
exports.

4.20 Government Initiative

Development of a robust manufacturing sector is the priority of the
Government. It has the potential to not only take the economic growth to a higher
trajectory, but also to provide employment. The Government is committed to remove
all bottlenecks and develop India as a manufacturing hub. A number of measures have
been taken by the Government in that direction.
During the last three months, the economic activity has picked up as reflected
in the quarterly growth figures of GDP which grew at 5.7 % in the first quarter (Q1)
of April-June 2014over the corresponding period of the previous year.
4.21 Ease doing business policy

The Department of Industrial Policy and Promotion (DIPP) has taken a series
of measures to improve Ease of Doing Business Process of applying for Industrial
License (IL) and Industrial Entrepreneur Memorandum (IEM) has been made online
and this service is now available to entrepreneurs on 24x7 basis, this has contributed
to entrepreneur empowerment and ultimately to the commerce, also Meetings are
being organized with State Governments for undertaking review of the factors
affecting Ease of Doing Business and identifying action points for its improvement.

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CHAPTER – 5
FINDINGS, SUGGESTIONS & CONCLUSION
5.1 Findings
1. It is founding that commerce education plays an important role in contributes

to Indian economy growth by providing opportunity in the field of business
production and consumption.
2. It is found that higher education was viewed as increasingly essential for the
world’s population.
3. The syllabus of commerce education must contain knowledge component skill
component skill component of practice component.
4. Commerce education plays pivotal role in equipping our future dynamic
managers with the emerging trend of commerce skills to face the challenges of
dynamic business world the syllabus of commerce education must contain
knowledge component skill component of practice component.
5. The syllabus of commerce education must contain knowledge component skill
component of practice component.
6. A successful course in commerce expect the students to different business
administration strategies and accounting principles.
7. Commerce education providing awareness about the tools of financial
management that ensure best utilization of financial resource of a firm
individual and a nation.
8. Commerce as an educational stream is first opted at intermediate level.
9. In near future e-commerce will be the leader with popularity and prosperity in
e-trade sector.
10. Only willing students have to opt for placement at and attend interview.
11. The greeter past of the papers is in the field of management accounting.
12. Requirements for a specialty in forensic accounting beyond adequate
acquaintance with and skills in accounting auditing law, economic,
management, statistics etc.
13. During the invest is action researcher found the various issue with faced by
commerce teachers during their teaching.
14. Commerce education in a globalized economy require a fresh look and a new

version.
15. The syllabus of commerce and management education should be designed by
relating it to the other professional courses such as certified management
account, chartered accountant challenges should be improved.
16. The commerce and management education should be re-engineered to prepare
the students who can be got absorbed corporate world.
17. Research in e-commerce implementation can give a significant result.
18. The paper provides insight in to the evolution of e-commerce in India.
19. The study found that TAM is the most useful and most used model for this
specific area.
20. The study provides for varied courses and not one straight jacket.
21. Build rapport with trade, commerce and Industry (or establish university
Industry Hub).
22. Today students of commerce at the graduate level could opt for arrange of
courses and options.
23. It is found that e-commerce as an alternative marketing channel is making
slow but steady progress in India.
24. The quality of commerce education has become a major marketing issue in the
changing environment.
25. Commerce education is facing numerous problems today.
26. There is a misconception that there is very less or no job opportunities for
those students who are involved in academic education only.
27. India is very poor country in case of education (commerce education), The
commerce students are facing many problems about their stream, because they
haven\t sufficient knowledge about commerce education.
28. Commerce education can play significant role in economic activities like
employment generation, profession, entrepreneurship development and
poverty alleviation.
29. Percentage analysis, Average score analysis.
30. Information technology and mobile technology is now forcing education sector
to change according to needs of time.

5.2 Suggestions
1. Education syllabus at school level needs to adopt subject like other art and
science subjects.
2. The traditional courses have to update in such manner which provides
theoretical and practical knowledge equally as per industrial requirements.
3. The junior colleges and degree colleges need to provide proper guidance and
counseling for the choosing right course for their career development.
4. The colleges and management institutes need to build good contact with
industries and research institutions which will provide good practical skills
development to students.
5. Commerce education need to be promoted in such manner as it is very much
important for financial manager and management of various activities.
6. Actuarial education also needs to be promoted as it provides good control
over the risk by use of strong mathematical and financial understanding. If
possible then this is adopted as bachelor and master degree course by every
universities and colleges.
7. Current business practices and modern terms need to be opted in the syllabus
which helps the students for proper understanding about various current
phenomenon’s in business world.
8. The colleges need to provide proper guidance and counseling to students
regarding various courses available in commerce and what type of
specialization respective courses offers for the personal and professional
development.
9. The colleges need to be providing autonomous status by UGC which results
in making good study and syllabus pattern with proper evaluation process
and timely declaration of results.
10. UGC has recognized SWAYAM MOOC’s platform for digital teaching
and learning process which need to be promoted by various means so that it
will reach to students who want to pursue further knowledge improvement
with their job.
11. Computer education should be provided to students of commerce with
consideration of the present need of industries and digitalization of

everything. The computerized accounting need to taught to students because

organizations uses various enterprise software for accounting and management
purpose.
12. The commerce and management education should be re- engineered to
prepare the students who can be got absorbed corporate world. We would
like to suggest the following measures to make commerce education more
practical and job oriented. Some of the suggestions we made are looked in
to by MHRD, AICTE, UGC and State governments but still these
measures are inadequate and should be made more effective.
13. Infrastructure and learning resources – to make commerce education to
meet global challenges facilities like well-equipped class rooms with
modern communication devices like computer network, overhead
projectors, internet facilities, business labs, well equipped library, digital
library etc., should be provided. Proper seating arrangements, lighting, and
ventilation facilities. Ideal student-teacher ratio be fixed & avoid
overcrowding in the class rooms with students.
14. Re–engineering the commerce pedagogy to make commerce education
more effective and practical, the outdated and inefficient teaching methods
should be replaced by learner centered, case method, project method and
giving importance to simulation, role playing methods in commerce
education. The syllabus must be parallel to professional courses like
Chartered Accountant (CA), Company Secretary (CS), Certified Public
Accounting (CPA) Certified Management Accountant (CMA) Business
Accounting and Taxation (BAT) and improvise the curricula to make it
more realistic and practical. Incorporate in commerce syllabi the practical
aspects of drafting reports, writing minutes, conducting case studies, group
discussion, project work, field survey.
15. Industry -Institutional-university linkage -To meet the challenges of
globalization and make the students to meet the expectations of the
corporate sector it is the need of the hour to link educational institutions
with industry. So that the students understand industries requirement so
they can get required training.
16. Redesign the business education course to meet the requirements of
industry and other organizations.

5.3 Conclusion
Commerce education is very important and helps to gain knowledge of various
accounting, commerce, trade, management and finance related areas. The
Universities and colleges not providing courses which include equal practical as
well as theoretical aspects of business and organizations. There are tremendous
opportunities available where commerce educated students can go for job and show
their knowledge and competencies acquired during study. One of the best thing is
that commerce graduate can also become a good entrepreneur as per knowledge and
skills acquired during their study. The industries and colleges are not summed up,
but there is need to summed up commerce institutions with industries which will
result students can learn practical aspects of work with theoretical knowledge.
Everything is possible when teachers of commerce give their self-effort to make
changes in commerce education to meet with modern or new scenario. At same time
students also need to give their self-effort to develop the soft skills and hard skills
required for outside industrial environment. Industries are not making their efforts
toward promoting and developing commerce education as per their need which
results they are not getting suitable candidate for job role specified by them. The
modern means of education are adopted slowly by teachers of commerce they need to
adopt it with good pace to mark their presence with current modern requirements
and provide better teaching learning aids to students. As you are aware that, in a
growing economy much of the expansion takes place in service sector (tertiary
sector) which particularly requires the type of skills and knowledge that our
courses offer. The much needed practical bias also can be brought in with the
developments in information technology, and with the help of a colour television,
video cassettes and computers. Our market is vast and their requirements are
varied. Hence, we have to provide for varied courses and not one straight
jacket. The changes are very fast and our courses also must keep pace with the
changes. Therefore, we have to adopt ourselves to the changing environment. We
cannot stop suddenly what is happening. But we can plan for the future Let the
liberal and general education be there. But mostly confined to open universities
and correspondence courses.
Let us develop micro specializations which are skill oriented or job
oriented and introduce with new nomenclature and in selected colleges which are

financially sound and have the necessary infrastructure facilities. Preferably, such
colleges may be asked to have industry linkage with a Memorandum of
Understanding with industry with regard to practical training, guest lectures,
teacher training etc. The admission to such courses must be selective and
restricted. Alternatively, the evaluation system should work like the quality
control laboratory of an industrial establishment.
The learned members may take this opportunity for an objective
introspection about the Commerce Education – its objectives, its problems, its job
potential, its quality and its relevance to the present day needs of our country. Let
it not be said that men of our generation failed to give it a timely turn towards
new meaning and usefulness.
We cannot stop suddenly what is happening. But we can plan for the
future. Let the liberal and general education be there. But mostly confined to open
universities and correspondence courses. Let us develop micro specializations
which are skill oriented or job oriented and introduce with new nomenclature and
in selected colleges which are financially sound and have the necessary
infrastructure facilities. Preferably, such colleges may be asked to have industry
linkage with a Memorandum of Understanding with industry with regard to
practical training, guest lectures, teacher training etc. The admission to such
courses must be selective and restricted. Alternatively, the evaluation system
should work like the quality control laboratory of an industrial establishment.

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COMMERCE EDUCATION PROSPECTS AND

Under the Guidance of

Ms. USHA, M.Com., (Ph.D.)

I hereby declare that “Commerce Education Prospects and

Place: Chitradurga Name: Vidhya K.C.

Signature of the Guide Signature of the Chairman

Signature of the Course Coordinator

With immense pleasure, I take this opportunity to acknowledge the many

SL NO. TITLE PAGE NO.

3. Theoretical Background of Commerce Education 18 - 34

4. Overview of Commerce Education 35 - 74

5. Findings, Suggestions & Conclusion 75 - 80

TABLE NO. TABLE NAME PAGE NO.

3.1 Pattern of Commerce Education in India 20

4.1 List of best Educational Institutions of India 40

under Public & Private category

4.2 Higher education matrix 42

4.3 Affiliating Universities (Established before 42

4.4 Newly established affiliating universities (After 43

4.5 Affiliating Professional Universities 44

4.6 Number of Universities, Colleges & Student’s 54

4.7 Number of Colleges offering Commerce 55

4.8 Locality wise number of Colleges offering 56

4.9 Number of Men’s, Women’s & Co-educational 57

4.10 Number of college (offering Commerce 58

courses) run by Minorities, SC & ST

FIGURE NO. FIGURE NAME PAGE NO.

4.1 School Education 49

GRAPH NO. GRAPH NAME PAGE NO.

4.1 Number of Universities 38

4.2 Number of Colleges 36

4.3 Number of Universities in Major States 39

4.4 Enrolment in Various Universities & its 40

4.5 Percentage of SEM’s who use the internet for 66

4.6 Details of technology enabled SME’s 67

participate in the export economy in India

4.7 User by mode to access internet (%0) Internet 68

usage through mobile phones to grow

4.8 India Foreign Direct Investment 69

SL NO. CONTENTS PAGE NO.

1.2 Need of the Study 2

1.3 Objectives of the Study 3

1.4 Research methodology 3

1.5 Scope of the Study 4

1.6 Limitation of the Study 4

1.7 Chapter Scheme 5

SL NO. CONTENTS PAGE NO.

2.2 Review of Literature 7

THEORETICAL BACKGROUND OF COMMERCE

SL NO. CONTENTS PAGE NO.

3.3 Commerce Education: Understanding & 19

3.4 Patterns of Commerce Education in India 20

3.5 Importance of Commerce Education 20

3.6 Current state of Commerce Education in India 21

3.7 Modern means of Education & their 21

3.9 Challenges in Commerce Education 25

3.10 Problems of Commerce Education 27

3.11 Major issues to be addressed 29