HUMAN RESOURCE MANAGEMENT ASSIGNMENT
* SHRETIMA BAGRI
* B.B.A L.L.B (3RD SEMESTER)
MAJOR FACTORS WHICH AFFECT INDIAN ECONOMY AT MACRO LEVEL ARE AS FOLLOWS:
While the inflation trajectory has been positive in the last few months, there are worries that a poor monsoon may play truant. Indian agriculture and food production is majorly dependent on rainfall as irrigation is still not used everywhere. So a shortage of rainfall could impact food production output. This could have a direct bearing on rural incomes. It could also be potentially inflationary. Monsoon is yet to pick up in various parts of India, sparking fears of a drought. ...view middle of the document...
* POLITICAL FACTORS:
Being one of the largest democracies in the world, India runs on a federal form of government. The political environment is greatly influenced by factors such as government’s policies, politician’s interests, and the ideologies of several political parties. As a result, the business environment in India is affected by multivariate political factors. The taxation system is well-developed and several taxes, such as income tax, services tax and sales tax are imposed by the Union Government. Other taxes, such as octroi and utilities, are taken care of by local bodies. Privatization is also influenced and the government encourages free business through a variety of programs.
* ECONOMIC FACTORS:
The economy of India has been significantly stable, since the introduction of the industrial reform policies in 1991. As per the policy, reductions in industrial licensing, liberalization of foreign capital, formation of FIBP and so on, has resulted in a constant improvement of India’s economic environment. The country registered a GDP of $5.07 trillion in 2013 following a further improved GDP growth rate of 5% in 2014 as compared to 4.35% in 2013.
* SOCIAL FACTORS:
The social factors refer to any changes in trends which would impact a business environment. For instance, the rise in India’s ageing population is resulting in a considerable rise in pension costs and increase in the employment of older workers. India has a population of...