A

TUTORIAL REPORT ON BUSINESS DEMOGRAPHY

SUBMITTED TO

SAVITRIBAI PHULE PUNE UNIVERSITY

IN PARTIAL FULFILLMENT FOR FIRST YEAR OF
BACHELOR OF BUSINESS ADMINISTRATION (BBA)

SUBMITTED BY

(STUDENT’S NAME-TASNEEM MASHRAQUE ROLL

NO.50)

UNDER THE GUIDANCE OF

(ASST.PROF.MR.NISHANT S. CHAVAN)

THROUGH

NESS WADIA COLLEGE OF COMMERCE, PUNE.

2023-24
 DECLARATION

I, the undersigned, hereby declare that the Tutorial Report entitled

1)GOVERNMENT REGULATIONS AND ITS EFFECTS ON
BUSINESS-RELATION OF DEMOGRAPHY AND ECONOMICS
DEVELOPMENT 2)MIGRATION-RELATED ISSUES,GENDER
EQUALITY/INEQUALTIES AND HOW THEY EFFECT
BUSINESSES” written and submitted by me to The Savitribai Phule
Pune University in partial fulfillment for First year of Bachelor of
Business Administration (BBA) under the supervision of
(Asst.Prof.Nishant Chavan) is my original work and the conclusions
drawn therein are based on the data collected and observation made
by me.

Place: Pune (TASNEEM MASHRAQUE)

Date: 28 /10/2023 (.F.Y. B.B.A [IB] 50)

Asst.Prof.Mr.Nishant S. Chavan
Supervisor’s Name Internal Examiner
 INDEX
PARTICULARS Page No.

Tutorial /Project 1 Tutorial Title - GOVERNMENT REGULATIONS AND ITS EFFECTS

ON BUSINESS-RELATION OF DEMOGRAPHY AND ECONOMICS
DEVELOPMENT FOR INDIA
1.1 Tutorial

1.1.1 Abstract 4

1.1.2 Introduction of the Organization 6

1.1.3 Importance of study 8

1.1.4 Objective/s of the study 10

1.1.5 Data analysis 11

1.1.6 Key Findings 14

1.1.7 Conclusions 18

1.1.8 Webliography 19

Tutorial/Project 2 Tutorial Title - MIGRATION-RELATED ISSUES,GENDER

EQUALITY/INEQUALTIES AND HOW THEY EFFECT
BUSINESSES
2.1 Tutorial

2.1.1 Abstract 20

2.1.2 Introduction of the Organization 20

2.1.3 Brief explanation of the core topic/Importance of study 21

2.1.4 Key Findings 22

2.1.5 Data presentation/ analysis 23

2.1.6 Objectives of the study 28

2.1.7 Webliography 34
 GOVERNMENT REGULATIONS AND ITS EFFECT ON
BUSINESS-RELATION OF DEMOGRAPHY AND
ECONOMICS DEVELOPMENT FOR INDIA

ABSTRACT

India has the distinction of being one of the fastest growing economies in the world. In the
past two decades, liberalization has transformed India from being an inward looking state-
based economy, into a globalized market-based economy, now identified as one of the most
attractive investment locations globally. With Gross Domestic Product (GDP) growth rate of
about 5.7% in the first quarter of 2014-15 and a sustained 7-8% average growth for the past
decade, the Indian economy has shown itself to be robust and remarkably resilient during the
global economic slowdown. The success of Indian economic reforms is evidenced by high
GDP growth, high growth rate in manufacturing sector, comfortable foreign exchange
reserves, improved short-term debt profile and buoyant exports. Since 1991, the industrial
sectors have seen positive structural changes, improvements in productivity, modernization
and infusion of new technology. Companies have consolidated around their areas of core
competence, within India and overseas, by opting for foreign tie-ups and infusing new
technology, management expertise and access to foreign markets. In the technology sector,
almost all the major global players have established operations in India. Others procure
services from Indian third-party service providers.

The far-reaching and sweeping economic changes that have taken shape since 1991 have
unleashed the growth potential of the Indian economy. The Government of India’s current
policies offer a more transparent economic environment and are geared towards promoting
domestic and foreign investment. Over the past two decades, except for a small list of
prohibited sectors, foreign investment is permitted in all sectors. Furthermore, the all-
important ‘Single Brand Retail’ sector has been fully opened for foreign investment (up to
49% Automatic and between 49% to 100% with Government approval), and the “Multi
Brand Retail” sector has been opened up to 51% with Government approval which are seen
as welcome signs of the Government’s intent to liberalize further. Recently, the Government
further liberalized the FDI policy by permitting (i) 100% FDI (up to 49% Automatic and
between 49% to 100% with Government approval) in the Telecom sector; (ii) 100% FDI
under the Automatic Route (i.e. without any prior Government’s approval) in Petroleum &
Natural Gas, (iii) 49% FDI under the Automatic Route for commodity exchanges, power
exchanges, stock exchanges; (iv) 100% FDI (up to 49% Automatic and between 49% to
100% with government approval)
in the asset reconstruction companies; (v) 74% FDI under the Automatic Route in credit
information companies; (vi) 100% FDI under the Automatic Route in the courier services;
and (vii) 100% FDI (up to 49% Automatic and between 49% to 100% with government
approval) in the Single-Brand Retail trade. With respect to the Defence Sector, FDI up to
49% is allowed with Government approval, while FDI above the 49% limit shall be
considered by the Cabinet Committee on Security on a case to case basis.

FDI of up to 100% is permitted under the automatic route in railway infrastructure. Similarly,
100% FDI is allowed in rail track construction. On August 27, 2014, government permitted
private sector investment in railway infrastructure by amending the list of industries reserved
for public sector. However, this FDI is subject to sectoral guidelines of Ministry of Railways.
Further, proposals involving FDI beyond 49% (forty nine percent) in sensitive areas from
security point of view will be brought by the Ministry of Railways before the Cabinet
Committee on Security for consideration on a case-to-case basis.

FDI in Pharmaceutical sector has been allowed to 100% in the Automatic Route for
greenfield pharmaceuticals and 100% through Government approval for brownfield
pharmaceuticals. Also, FDI in Insurance sector has been permitted to the extent of 26% under
the Automatic Route, subject to conditions such as obtaining of license from the Insurance
Regulatory & Development Authority.

Changes are also proposed in FDI rules in B2C e-commerce sector for permitting foreign
investment in sale of goods and services over e-commerce.

From a policy perspective, it is clear that the Government of India continues to view foreign
investment and private enterprise as a key driver of economic growth in India and the policy
measures and changes have been tailored in keeping with this objective. Government of India
has also taken initiatives to do away with the obsolete laws and amend the existing laws
wherever necessary (for example, labour laws).

INTRODUCTION

Regulation refers to "controlling human or societal behaviour by rules or regulations or

alternatively a rule or order issued by an executive authority or regulatory agency of a
government and having the force of law" Regulation covers all activities of private or public
behaviour that may be detrimental to societal or governmental interest but its scope varies
across countries. It can be operationally defined as "taxes and subsidies of all sorts as well as
explicit legislative and administrative controls over rates, entry, and other facets of economic
activity"? The rules laid down by regulation are supported by penalties or incentives designed
to ensure compliance.
There are two main theories regarding the genesis of economic regulation. One is the "public
interest" theory which conceives regulation as arising from the need to rein in the free
exercise of market forces and consumer and producer impulses in cases where such a display
can act as an obstacle to the maximisation of societal well-being or to remove externally
applied obstacles to market forces when their play is desirable. In certain cases, regulation is
also justified by this school on equity grounds. An alternative theory is that of 'capture'
espoused by a variety of realists drawn from varied professional and academic backgrounds
who see regulation as being supplied in response to the demands of interest groups struggling
among themselves to maximise the incomes of their members.? This school, therefore, gives
importance to political economy factors which get manifested in the unequal bargaining
powers of different vested interest groups which in turn result in their unequal influence over
regulatory rules/norms and hence outcomes. In other words, regulation is seen as a tool which
can be manipulated by different interest groups to their advantage using their respective
bargaining powers with the regulating machinery.
It would be overly simplistic to label one theory as 'superior' to the other on the basis of their
abilities to characterise reality, given the complexities typifying economic activity. While the
'public interest theory' can be defended on normative grounds (i.e., regulation as conceived
by it is necessary to maximise welfare and bring about equity) the 'capture theory' reflects
quite well how regulatory frameworks can be manipulated by powerful interest groups to
their own advantage. In other words, the former focuses on what "should be" whereas the
latter concentrates on what "could be" in real world situations. The relevance of these schools
to real world situations would vary across countries and within each country across sectors
depending on the strength of regulatory institutions, often seen as being positively affected by
the level of economic development, and the spread and relative strengths of vested interest
groups.

India started developing regulatory institutions with the introduction of reforms in 1991. But
the regulatory environment which has developed over a period of time does not seem
homogeneous across sectors. India still ranks very low in terms of the enabling nature of its
business environment and unnecessary regulatory burdens are imposed upon business and
investors.

The objective of this paper is to evaluate the regulatory structure and status of regulation in
India. It is structured as follows. Section 2 explains the rationale for regulation and details its
typology. Sections 3 and 4 examine in detail business and sector regulation respectively as
well as associated institutional landscapes. Section 5 elaborates on and evaluates the drivers
of change in regulation and the underlying institutional landscape. Sections 6 and 7 carry this
discussion further by looking at the factors which affect the regulatory environment. The
rationale for and current status of interaction between policy makers and regulators is
examined in Section 6 while participation of stakeholders in the regulatory process is
examined in Section 7.

Sections 8 and 9 are devoted to a study of actual regulatory practices prevailing in the Indian
economy: practices of sector regulators for tackling market failure and anti-competitive
practices (Section 8) and management practices in regulation (Section 9).

Having examined the details of sector regulatory processes through selective illustration, the
management of the overall regulatory environment is examined next. Mechanisms for
ensuring regulatory coherence are discussed in Section 10; institutional weaknesses leading
to gaps between promulgation and implementation of regulation are discussed in Section 11;
and the government's plans for the future are elaborated in Section 12. Section 13 examines
the gaps in the literature on regulation in India. Section 14 concludes.

IMPORTANCE OF GOVERNMENT REGULATIONS

In its most common context, regulation is an attempt to control or influence private behaviour
in the desired direction by imposing costs on or proscribing undesirable behaviour. Since
regulation can have important consequences for economic efficiency and private incentives, it
is usually justified only under special conditions. Accordingly, there are three sets of
justifications for regulatory interventions - prevention of market failures, restriction or
removal of anti-competitive practices, and promotion of public interest. Each set is elaborated
below.

 To prevent market failure

Market failure is a condition in which the market mechanism fails to allocate resources
efficiently to maximize social welfare. Market failures occur in the provision of public goods,
in case of natural monopolies or asymmetric information, and in the presence of externalities.

A natural monopoly occurs when an entire market is more efficiently served by one firm than
by two or more firms due to increasing returns to scale. Natural monopolies enjoy scale
benefits that protect them from competition; entry by other firms tend to lead to inefficient
production i.e., the average cost of output is much higher with entry by multiple firms than
with the existence of just one firm. In such cases, regulation may be necessary to protect
consumer interests. In doing so, regulation might bar the entry of new firms into the sector
and protect the monopoly status of the incumbent operator. Examples include water
distribution and railway lines.

In India, because of the adoption of regulatory reforms, rising demand and fixed cost
reducing technology, telecom is no longer a natural monopoly. The electricity sector was
originally a bundled monopoly but unbundling has led to the introduction of competition in
certain segments. Two segments, transmission and distribution, are still natural monopolies.
The water sector is still a natural monopoly and completely controlled by the government.

Asymmetric information is a situation where one party to a transaction knows more about the
product than another. This prevents the market mechanism from achieving an efficient
allocation of resources. For example, a patient at a clinic knows less about his ailment and
necessary treatment than his doctor, a situation the latter can manipulate to his advantage.
This creates a role for regulation of market transactions or provision of information by a third
party to remove or minimise information asymmetries. In India, considerable information
asymmetries exist in the health and education sector.

Externalities constitute another source of market failure and are defined as the effects of
production or consumption activity - positive or negative -- on actors not involved in the
relevant product market. For example, an industrial plant discharging waste into a river
imposes a negative externality (costs) on users downstream. These costs are not factored into
production decisions at the plant but are instead borne by society. Regulation, in such
circumstances, may be considered appropriate to restore economic efficiency.
Unregulated production and consumption externalities are common in India, as in other
developing economies.

 To check anti-competitive practices

Firms may resort to anti-competitive practices such as price fixing, market sharing or abuse
of dominant or monopoly power. Laws that empower officials to take action can help deter
such practices. Regulation through a set of transparent, consistent, and non-discriminatory
rules can create a competitive and dynamic environment in which market players can thrive.
In its absence, anticompetitive practices and regulatory failures may not allow the market
process to yield socially optimal outcomes.

 To promote the public interest

A third set of justification arise from concerns about the promotion of public interest which is
an important policy objective for governments. Ensuring fair access, non-discrimination,
affirmative action, or any other matter of public importance can provide an important reason
for regulation. Some major regulations in this regard in India are:
⁃ Support pricing i.e., government offering to buy wheat or rice from farmers at a price
which is higher than the market price.
⁃ Public distribution system: supply of food grains at a price which is lower than the
market price.
⁃ Free distribution of piped water and free power to agriculture - these are regulatory
decisions to levy zero tariffs which stem from policy stances.
⁃ Free power to agriculture which happens before elections - a policy with regulatory.
OBJECTIVES

Government direct business regulations are federal rules and acts enacted to safeguard
businesses and the public interest. Small firms can benefit from these restrictions as they
expand. For example, if you operate a construction firm, government rules may demand the
use of specific safety equipment on the job site.

Federal regulations also have an impact on how local firms function since they establish
requirements for employee safety, health care, and environmental protection. State licensing
rules, for example, may require you to carry some insurance for your staff if they are harmed
at work while using risky equipment.

Small business regulations may optimise quality and public safety, which is essential for
drawing in new clients who want to feel secure while making purchases from their
establishment. Finally, by forcing enterprises to follow particular principles while conducting
business with customers, these regulations protect consumers against fraud and bad service.

Government policies carry the rationale for things to be finished in a definite way and the
cause for doing in that direction. Public problems can occur in limitless ways and require
non-identical policy responses.

Governments put in place many policies that lead the way to businesses. The government can
amend the fiscal policy, which provokes changes in taxes, commerce, subsidies, regulations,
interest rates, licensing, and more. Businesses should be supple enough to respond to
changing rules and policies.

Government policies are material at all levels, from national to local levels, such as states and
municipalities. These local authorities have their own sets of laws. There are some
international treaties which can shape the way corporations do business.
Governments get revenue to disburse from the taxes. Increased disbursement requires
increases in taxes or borrowing. Any tax increase will dishearten investment, especially
among business people who take the chance of starting and managing businesses. Increased
expenses also eat into the limited pool of funds, leaving less money for private investment.
DATA ANALYSIS

The business environment in India has a number of problems that adversely impact business.
Aside from persisting bureaucratisation leading to delay in approvals and clearances for
business and structural factors such as poor quality of infrastructure, there are some policy
and legal constraints that affect business.
Bureaucratisation of procedures is being gradually reduced with a corresponding reduction in
the number of government employees. However, it is often the mind set and work culture of
the government employees which creates problems. In spite of policies being framed to
reduce bureaucratisation, the "go slow" attitude remains deeply embedded in the country's
bureaucratic culture which cannot be changed overnight. Only a gradual transformation is
possible.
The investment climate in any economy is determined by a mix of factors. Out of this one
very important factor is the regulatory framework. The regulatory framework in India,
particularly at the state level, has not been conducive for business, either at the entry stage or
during operations.
Among the major impediments to the improvement of the business environment are business
regulations/legislations originally formulated under the 'command and control' regime - relics
which have outlived their utility as India has become increasingly market oriented with time.
A plethora of inspectors and government authorities continue to exercise wide discretionary
powers, nailing business from their inception for minor procedural lapses. To illustrate the
consequences, on an average starting a business in India takes twice as long as that in the
region and OECD because of various rules and regulations, formalities and procedures.
Enforcement of these regulations and associated licenses unnecessarily hampers the smooth
operation of business, and thereby unnecessarily increases the transaction costs of doing
business, thus putting India at competitive disadvantage.
 Activity Location Procedures Time (Days) Cost (% of
GNI per
Capita)
Starting a India 13 33 74.6
Business Region 7.6 33.4 40.7
OECD 6.0 14.9 5.1
Dealing with India 20 224 519.4
Licenses Region 16.3 247.3 3230
OECD 14 153.3 62.2
Registering India 6 62 7.7 (% of
Property Property
Value)
Region 6.4 134.1 6"
OECD 4.9 28 4.6 "
India 46 1420 39.6 (% of
Claim)
Enforcing Region 43.5 1047.1 27.2 "
contract OECD 31.3 443.3 17.7"
Activity Location (Recovery Time (Years) Cost (% of
percent) GNI per
Capita)
Closing a India 11.6 10 9 (% of estate)
Business Region 20.1 5 6.5 "
OECD 74.1 1.3 7.5

An unfriendly regulatory climate poses certain costs for business and reduces private
investment. Indian states have improved considerably over the years but there are wide
variations in facilitating business across states. Government efforts are marked by an absence
of strategic thinking: there is no effort to identify, map and review business regulations that
are more cumbersome than others and can be done away without too many legislative
hurdles. The government is expected to take steps to develop a decisive and integrated action
plan to enhance transparency, simplify bureaucratic procedures and modify or scrap
regulations. Regulatory impediments need to be properly articulated and acknowledged and
measures taken to minimise their adverse effect on the functioning of business.

KEY FINDINGS

Many business laws in India precede the country’s independence in 1947. For example,
the Indian Contract Act of 1872 is still in force, although specific contracts such as
partnerships and the sale of goods are now covered by newer laws. The Partnership Act of
1932 covers partnership firms in India. Business laws regulating chartered accountants and
cost accountants were passed in 1949 and 1959, respectively. The Banking Regulation Act
of 1949 continues to regulate private banking companies and manage banks in India. In 2012,
it was amended by the Banking Law (Amendments) Act. Under these amendments, the
Reserve Bank of India (RBI) was given power to restrict voting rights and shares acquisition
in a bank. The RBI established the Depositor Education and Awareness Fund. Banks are now
able to issue both equity and preference shares under RBI guidelines.

While India is often criticized for complex regulations, it is important to keep in mind that
that in some cases, these laws are simpler than those of the U.S. Furthermore, most
regulations are consistent across the country, and attorneys in India can practice in any state.
Filing lawsuits is seldom productive in most commercial disputes since court cases can drag
on for decades and collection can take even longer. For large deals, binding third-country
arbitration can be the best way to resolve disputes.

Following India’s economic development in the 21st century, the Ministry of Corporate
Affairs passed the Competition Act of 2002 and the Limited Liability Act in 2008. These
promote sustainable competition in markets, prohibit anti-competitive business practices, and
protect consumer interests while ensuring free trade.

The Parliament of India passes and amends regulations for both businesses and investors. In
addition to provisions from the Companies Act of 1956, the Companies Act of 2013 features
provisions regarding mergers and acquisitions, board room decision-making, related party
transactions, corporate social responsibility, and shareholding. The act was further amended
through the Companies Act of 2015 which eliminated the procedural common seal,
declarations for commencement of businesses, and minimum paid-up capital requirements.
The amendment also relaxed governing-related party transactions while limiting access to
strategic corporate resolutions in India.

As a member of the International Labour Organization, India offers protections for

employees. These include the Payment of Wages Act of 1936, the Industrial Employment Act
of 1946, the Industrial Disputes Act of 1947, the Payment of Bonus Act of 1965, and the
1972 Payment of Gratuity Act. Protections include annual bonuses of 8.33% and separation
fees of about 15 days per year of employment. Other labour laws such as the Building and
Other Construction Workers Acts of 1996 and the Workmen’s Compensation Act of 1923
(amended in 2000) are in effect. Passed in 1926, the Trade Unions Act deals with the
registration, rights, liabilities, and responsibilities of trade unions. The Industrial Disputes
Act of 1946 regulates trade unions and matters between industrial employers and employees.

Business laws in India include consumer protection. The Consumer Protection Act,
1986mandates Consumer Dispute Redressal Forums at local and national levels. Older laws,
such as the Standards of Weights & Measures Act of 1956, ensure fair competition in the
market and free flow of correct information from providers of goods and services to
consumers.

Due to the growth of trade, the Indian government passed the Foreign Trade (Development
and Regulation) Act of 1992 to facilitate imports and augment exports. The latest EXIM
Policy, known as the Foreign Trade Policy, was issued for April 2015 to March 2020.
The Service Exports from India Scheme (SEIS) replaced the Served from India Scheme.
The SEIS extends the duty-exempted scrip to Indian service providers and provides notified
services in a specified mode outside the country. Under the Export Promotion Capital
Goods Scheme, the export obligation requires six times the duty saved on imported capital
goods; in the case of local sourcing of capital goods, the export obligation is reduced by 25%.
Beyond goods and services, the Foreign Exchange Management Act of 1999 regulates
foreign exchange transactions including investments abroad.

As a founding member of the World Trade Organization in 1995, India has updated business
laws regarding copyrights, patents, and trademarks to meet the Agreement on Trade Related
 Aspects of Intellectual Property Rights. Indian companies and the federal government honour
global IP rights. However, because music copyrights are different in India, both Indian and
Western IP owners in the entertainment industry have suffered due to digital piracy. Even so,
there are few IP-related disputes outside of several celebrated pharmaceutical industry cases.
In 2013, India’s Supreme Court denied Novartis an extension to update its cancer drug
Gleevec due to “evergreening” charges.

E-commerce and online expansion of companies prompted India to create regulations to

cover cyber law and security compliances, such as the techno legal regulatory provisions in
the Companies Act of 2013. The Information Technology Act of 2000 is the primary law
for e-commerce regulation in India. In 2008, the IT Act was amended to provide explicit
legal recognition of electronic transactions.

FOR EXAMPLE CHANGES IN THE COMPANIES ACT OVER THE

YEARS

COMPANIES ACT BASIS COMPANIES ACT

1956 2013

658 SECTIONS/CLAUSES 470

13 CHAPTERS/PARTS 29

15 SCHEDULES 7

BASIS COMPANIES ACT 1956 COMPANES ACT 2013

 TYPES OF PUBLIC COMPANIES PUBLIC COMPANIES
COMPANIES
PRIVATE COMPANIES PRIVATE COMPANIES

ONE PERSON COMPANIES

MAXIMUM NO. OF 50 MEMBERS 200 MEMBERS

MEMBERS FOR
PRIVATE
COMPANIES

ONE PERSON NO PROVISIONS FOR NEW CONCEPT

COMPANY OPC INTRODUCED

SUBSIDARY A company is deemed to be It means a company in which the

a subsidiary of another holding company
COMPANY
company - Controls the composition of the
(a)Where the composition Board of Directors;
of BOD is controlled by the - Exercises or controls more than
other company, i.e., one half of the total share capital
appointment, removal or either at its own or together with
nomination. one or more of its subsidiary
(b) Where the other companies.
company holds majority of
the voting power or the
capital of the company. i.e.,
51%.
(c)Where any company is a
subsidiary company of the
subsidiary of the company

CONCLUSION
Governments play an important role in the financial world. Regulations, subsidies, and taxes
can have immediate, long-lasting impacts on companies. For this reason, legal and political
risk is considered a notable factor when pricing stocks. A good investment can turn out to be
not that efficient if it's at risk of seeing its competitive advantage and profits diminish as a
result of certain government actions. Political factors play an important role before going into
any business.
The government may help businesses by providing financial, legal, and other assistance. It
can also be a public servant, enacting and enforcing consumer protection, labour safety, and
other regulations. Regulators have a lengthy history of locking nations in long-term decline
patterns. This issue will almost never be addressed since disagreements between different
portions of any community will always exist.
As technology advances, the government's relationship with corporations may grow more
regulated and collaborative. The key to success may be to preserve the government's position
as an impartial referee as the rules of the game change.
Regulatory reforms in India have been initiated as these have become essential in the light of
changing macroeconomic policies. At the level of the central government, the progress is
quite satisfactory but State governments need to supplement it by taking similar initiatives.
At the sector level, many sectors remain unexplored from a regulatory point of view. Coal
sector promises to be an important sector because of the importance of coal in the Indian
context. Other sectors which deserve attention are the social (health and education) and retail
sectors. Both play a significant role in the Indian economy from the point of view of human
capital formation and demand generation respectively.
Another competition issue that needs to be given priority is simulation of competition in
natural monopolies through public-private partnerships (PPPs). This 1s particularly relevant
in the case of sectors such as railways and highways. Of particular importance are the
negotiation and renegotiation of contracts underlying PPPs which should be tailored to
maximise social welfare. Finally, creating independent regulators in the true sense is equally
important.

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