Economic and Business Environment

Economic and Business Environment

1. Economic and Business Environment Conducted by Mr. S. B. Bansode (M.com., G.D.C.&A.,SET, NET)

2. Unit I Economic Systems & Business

3. Economic System An economy is a system of organizations and institutions that either facilitate or play a role in the production and distribution of goods and services in a society. Economies determine how resources are distributed among members of society; they determine the value of goods or services and they even determine what sorts of things can be traded or bartered for those services and goods.

4. Types of Economic system Capitalism Economy Socialism Economy Mixed Economy

5. Capitalism Economy The economic system in which business units or factors of production are privately owned and governed is called capitalism. The profit earning is sole aim of business units. Government of that country does not interfere in the economic activities of the country. Capitalism economy known as Free Market Economy. Example of Capitalistic Economy : US, Japan, Canada, Mexico etc.

6. Feature of the Capitalism System Private ownership Inheritance Free enterprises Consumer Sovereginity Profit Motive Competition Price Mechanism Role of Government Freedom of choice of occupation Freedom to save and invest

7. Socialism Economy Under socialism economic system, all the economic activities of the country are controlled and regulated by the government. Under this economic system government appoint a central planning authority that takes all economic decisions and formulates an exhaustive plan to achieve the set objectives. Socialism is a complete social system which differ from capitalism not only in the absence of private ownership of mean of production but also in its basic structure and mode of functioning Example of socialism economy: Soviet Russia, China, Vietnam, Cuba etc.

8. Forms of Socialism Democratic Socialism All the economic activities are controlled by the government but people have the freedom of choice of occupation and consumption. Totalitarian Socialism This is also known as communism. Under this, people are obliged to work under the direction of government.

9. Features of Socialism Economy Government Ownership Central authority Social welfare Restriction on occupation Fixation of wages and prices Absence of competition Equality of opportunity Abolition of Exploitation of labour

10. Mixed Economy Mixed Economy is the mixture of both capitalism and socialism feature. In this economic system, both public and private sector co-exist. Some factor of production are privately owned and some are owned by government. In this economic system both public and private sector play key role in development of country. Best example of mixed economy is India.

11. Features of Mixed Economics Co-existence of public and private sector Classification of industries Intervention Role of states Profit motive cum Social Welfare Economic planning

12. Gandhiji’s Trusteeship Concept Trusteeship is a socio-economic philosophy propounded by Mahatma Gandhi. The Gandhiji Principle of Trusteeship is closely related to the “Social Responsibility of Business”. According to the Gandhiji Concept of Trusteeship “All business firms must work like a trust.” All the assets of the firm should be held by a 'trust' and should be used for the welfare of the society. The firm should keep only a small part of its profits for the respectable livelihood of its owners. The remaining part of the profit should be distributed equally to all sections of the society It provides a means by which rich people will be trustees of a trust that looks after the welfare of the people in general.

13. Principles Of Trusteeship Reduce inequality Changes of attitude of Businessman Consider social needs Socialism Social Pressure Legal pressure Equal distribution of wealth Earn money by hard work No right to private ownership Government regulation

14. Features Of Trusteeship Trusteeship: hammer for capitalism Reduce Economic inequality State regulation of trusteeship No use of wealth for self satisfaction No private ownership Fixed maximum income Social welfare Production as per the social requirement

15. Limitations Trusteeship Concept   Not relevant in today’s competitive business Demotivates hardworking businessman Concept based only on socialism Not accepted by shareholder Concept against capitalism

16. Globalisation Globalisation is a two way traffic, first it means free competition, high productivity using new technology and second selling goods in a single market of the whole world. - Russi Mody

17. Advantages of globalisation Better Capacity utilisation Improve the reserve and Export Access Modern Technology Change in Attitude Expectation are fulfilled Higher Export

18. Disadvantages of Globalisation International Situation not favorable Lack of adaptability Beneficial to small section Reality ignored Fear of increase in debt Beneficial to developed countries Inflow of FDI not possible

19. Changing Economic system in context of globalisation Globalisation of Indian Business Exchange rate adjustment and rupee convertibility Import liberalization Opening upto Foreign Capital Exploiting knowledge based economy Adopting risk management practices Empowering the poor Growing Indian transactional Corporation Environment protection Human Development High Growth of agriculture

20. Liberalisation Liberalisation means the removal of control or liberal the rules and lows by the government to encourage economic development. Economic liberalisation means minimum of control on consumption, production and use of factor of production As consumer, all individual and families are free to take decision as per their needs. All producer are free to decide to produce the commodity which they find profitable. AS a owner of factor, they are free to deploy it in any use.

21. Liberalisation policy in India Liberalization during 1975-1980 1980-1985 9185-1991 Liberalization since 1991 New industrial Policy New trade policy Exchange policy Union Budget 1991-92

22. Changes in Indian business in the post liberalization period Changes in Agriculture sector Changes in Service sector Changes in trade and commerce Effect in Volume of trade Effect on composition of trade Effect on Direction of trade

23. Unit II Macro Policy Environment

24. Monetary Policy Monetary policy refers to the actions of central banks to achieve macroeconomic policy objectives such as price stability, full employment, and stable economic growth. Monetary policy  involves influencing the demand and supply of money, primarily through the use of  interest rates . Monetary policy is usually carried out by an independent Central Bank of the country. Changes in monitory policy can be made at any time during the year. Monitory policy refers to the policy regarding money supply and bank credit in the country and in turn influence the savings, investment and consumer expenditure in the economy. Monetary policy is an arm of macro economic policy. Monetory policy may also be used to influence the exchange the rate of the country’s currency. Central Bank use monetary policy tools like, Repo/Reverse Repo, CRR, SLR , OMO (Open Market Operation) to control money supply or inflation.

25. Types of Monetary policy Expansionary Monetary Policy Implemented during recession/slowdown. Lower rate of interest. Unfavorable to save. Promote spending. Increase the money supply. Contractionary Monetory Policy Implemented during high inflation. Raise the interest rate. Decrease the money supply.

26. Objectives of Monetary Policy Adjusting, equilibrating mechanism for demand and supply of money market. Encouraging sectoral and overall development, by influencing the cost, volume, direction of credit. To enable borrowers and lenders of short term funds to fulfill their borrowing and investment requirements and an efficient market clearing price. To maintain reasonable price stability. To balance of payments (BOP) equilibrium. Formulating equitable distribution of credit . To reduce the rigidities. To promote a fixed investment . To promote more competitive environment . To promote exports . To impart greater discipline and prudence in the operations of the financial system .

27. Fiscal Policy Fiscal policy refers to the tax and spending policies of the Central government. Also known as budgetary policy. It is framed by central government of a country. Government focus on growth in GDP. Fiscal Policy concerns itself with the aggregate effect of government expenditure and taxation on income, production and employment, deficit financing and management of public debt in an economy. Fiscal policy and monetary policy are closely interrelated. Fiscal policy bring about changes in money supply through budgetary deficit.

28. Types of Fiscal Policy Expansionary Fiscal Policy Used during recession Lower tax rate Increase government spending Contractionary Fiscal Policy Used when mounting inflation Increase tax rate Lower government spending

29. Objectives of Fiscal Policy To promote export and imports. To mobilize the available resources. To ensure equitable distribution of income and wealth. To bring price stability and control of inflation. To generate employment. To reduce the deficit in the BOP. To increase national income. To enhance foreign exchange earnings.

30. Fiscal Responsibility Fiscal responsibility implies a government pursues the appropriate level of government spending and tax to: Maintain sustainable public finances. Ensure fiscal policy aids the optimal rate of economic growth. Maintain appropriate levels of public investment.

31. union Budget The word ‘budget’ has been borrowed from the English word " Bowgette " which traces its origin from the French word “ Bougette ”.  Word “ Bougette ” has arrived from the word, ‘ Bouge ’ which means a leather bag. Details of such income and expenditures statements are known as ‘Budget’. Each budget is made for a specified duration. The Union Budget is the blueprint of the Government’s revenue and expenditure for a fiscal year, starting from 1st April of one year to 31st March of the following year. It is presented during the month of February so that it can be materialized before the start of a new financial year. According to Article 112 of the Indian Constitution, it is an extensive financial statement that presents the Government’s estimation of revenue sources and estimated expenses for the year. It is classified into two parts – revenue budget and capital budget. Revenue budget contains the government's revenue receipts and expenditure, while the Capital Budget comprises of the government's capital receipts and payments.

32. History of Union Budget of India The first Union Budget of India, a concept introduced when the country was still under the British colonial rule, was presented on 7th April, 1860, by the then Finance Minister of India, James Wilson.  The first Union Budget of Independent India was presented on November 26, 1947, by Sir R.K. Shanmugham Chetty (the first Finance Minister of Independent India).

33. Why Government prepares a budget? The Governments decide about the expenditure to be incurred on which commodities primarily and how the money is going to be arranged for these expenditures. In budget the government estimates the expected expenditures for developmental works in different sectors of the economy e.g. Industry, Manufacturing, Education, Health, Transport, etc. To meet the expenditures for the coming financial year, the Government tries to work out the sources of revenue. ( i.e. by imposing new taxes or increasing or decreasing the previous rates of taxes, or to remove or impose subsidy on any commodity.)

34. Types of Union Budgets Union Budget can be classified into two parts Revenue budget Capital budget

35. Revenue budget Revenue budget comprises of the government's revenue receipts and revenue expenditure. Revenue receipts can be further classified into tax revenue (income tax, excise duty, corporate tax, etc.) and non-tax revenue (interest, profit, fees, fines, etc.). Revenue expenditure refers to the regular expenses incurred from the daily functioning of the government as well as for the range of services offered to the public. In the event that the revenue expenditure is greater than the revenue receipts, the government is said to incur a revenue deficit.

36. Capital budget Capital budget, whose components are of a long-term nature, consists of capital expenditure and capital receipts. Some of the primary sources of government receipts include loans from citizens, Reserve Bank of India (RBI) and foreign governments. Capital expenditure, on the other hand, comprises of costs incurred on development and maintenance of equipment, machinery, health facilities, building, education, etc. When the government's expenditure is greater than the total revenue collected, a state of fiscal deficit occurs.

37. Other Types of Budget Traditional or General Budget Performance Budget Zero Based Budget Outcome Budget Gender Budget

38. Traditional   or General Budget The initial structure of the general budget is known as the Traditional Budget. The main aim of the General Budget is to set up financial control over the Executive and the Legislative. This budget contains the details of income and expenditure of the Government. This budget contains the details of the expenditure in different sectors done by the Government. However, the result of this expenditure is not explained in this budget. The main idea behind the traditional budget that is to solve the problems of independent India and to achieve the development. The need and importance of drafting a Performance Budget was accepted and it was presented as a complimentary budget to the earlier Traditional budget.

39. Performance Budget When the outcome of any activity is taken as the base of any budget, such a budget is known as ‘Performance Budget’.   First time in the world, the performance budget was made in the USA. An Administrative Reforms Commission was set up in 1949 in America under Sir Hooper. This commission recommended for making a ‘Performance Budget’ in the USA. In the Performance Budget, it is the compulsion of the government to tell that 'what is done', 'how much done' by it for the betterment of the people. In India, the Performance Budget is also known as the ‘Outcome Budget’.

40. Zero Based Budget Under Zero-based budgets, every activity is decided based on Zero basis i.e. the previous expenditures are not considered.  Peter Pyre is known as the father of ‘Zero Based Budgeting’ who presented this sort of budget in 1970. This system of budgeting was first used in the Georgia State of USA by its Governor Jimmy Carter. In the zero-based budget, neither expenses incurred during the previous financial years are not considered nor the expenditure of the last financial year used for the coming years. This budget is also known as ‘Sun Set Budget’ which means the finance department has to present the zero-based budget before the end of the financial year. There are two primary reasons for adopting this type of Budget in India. ( i ) The continuous revenue deficit in the budget of the country. (ii) Poor implementation of the Performance Budget. In India, the Zero Based Budgeting was introduced by the mainstream Research organization, Council of Scientific and Industrial Research and the Central Government adopted the same in 1987-88.

41. Outcome Budget Outcome Budget acts as a pathfinder for all the Ministries and Departments which helps in improving Services, the performance of the programmes. In India, development-related schemes such as MGNREGA, NRHM, Mid Day Meal, PMGSY, Digital India, Prime Minister Skill Development Council, etc. are started every year. The large sum of money is spent on these schemes every year. However, at present, the government doesn’t have any parameters to measure the results of these schemes. Sometimes, the delay in implementation of the schemes causes an increase in the cost of these schemes.  Therefore, in order to reduce this cost, the Government of India introduced the Outcome Budget in 2005.

42. Gender Budget If a budget describes the schemes and plans for the welfare of children and females, it is known as Gender Budget.  Through Gender Budget, the Government declares an amount to be spent over the development, Welfare, Empowerment schemes and programmes for Females.

43. union Government Budget 2020-21 Union budget 2020-21 is presented by Finance Minister Smt. Nirmala Sitharaman in parliament on 1 st February, 2020. Budget presented time ;- 2 hour 40 min. The  budget is woven around three prominent themes: Aspirational India  in which all sections of the society seek better standards of living, with access to health, education and better jobs. ( Agriculture, Irrigation  and Rural Development, Wellness, Water and Sanitation &Education and Skills) Economic development  for all, indicated in the Prime Minister’s exhortation of “ SabkaSaath , SabkaVikas , SabkaVishwas ”. (Industry, Commerce and Investment, Infrastructure, New Economy ) Caring Society  that is both humane and compassionate. ( Women and Child, Social Welfare, Culture and Tourism, Environment and Climate Change)

44. Unit III Regulatory Framework of Business

45. Securities and Exchange Board of India (SEBI) The Securities and Exchange Board of India (SEBI) is the regulator of the securities and commodity market in India owned by the Government of India. SEBI was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992. It got statutory status from the year 1992 and become an autonomous body to control the activities of the entire stock market of the country. SEBI acted as a watchdog and have a authority of controlling and regulating the affairs of the Indian capital market. SEBI inspect the accounting books of the recognizes stock exchanges in the country. It could also call for periodical returns from such stock exchange SEBI becomes empowered to inspect the books and records of financial intermediaries. It could constraint companies for getting listed in any stock exchange. It could also handle the registration of stock broker.

46. Role of SEBI as a Regulator of the Capital Markets Power to make a rules for controlling stock exchange. To provide licenses to dealer and brokers. To control the merge, acquisitions and takeover the companies. To audit the performance of stock market. To protect the investor from stock market and manipulation & fraud.

47. Insurance Regulatory and Development Authority (IRDA) IRDAI is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India. IRDAI was constituted by the Insurance Regulatory and Development Authority Act, 1999. IRDA oversee the growth of the insurance sector in India and also maintain a speedy development.  IRDAI structure :   Ten-member body consisting of a chairman Five full-time Four part-time All members appointed by the government of India.

48. Role of IRDA as a Regulator of the Insurance Sector IRDA Issuing, renewing, modifying, withdrawing, suspending or cancelling registrations / certificates. The regulatory body secures the interests of the  policyholders in areas like assigning of policy, nomination by policyholders, insurable interest, settlement of insurance claim, surrender value of the policy and other terms and conditions applicable to an insurance contract. IRDA makes certain that the code of conduct is  followed by surveyors and loss assessors IRDA is an autonomous body promotes efficiency in the  conduct of insurance business

49. IRDA specifies the requisite qualifications, code  of conduct and the practical training required for insurance intermediaries and agents. It also promotes and regulates professional  organizations connected with the insurance and reinsurance business. The rates, advantages, terms and conditions that may be offered by insurers in respect of general insurance business are controlled and regulated by the regulatory body It also specifies the form and manner in which  books of account should be maintained and the statement of accounts should be rendered by insurers and insurance intermediaries. IRDA judges the disputes between insurers and intermediaries or insurance intermediaries

50. Competition commission Competition Commission of India (CCI) is a statutory body of the Government of India responsible for enforcing the Competition Act, 2002, it was duly constituted in March 2009. MRTP Act. 1969, replaced by the Competition Act, 2002, on the recommendations of  Raghavan committee. The goal of the Competition Commission of India is to create a strong competitive environment The Commission consists of one Chairperson and six Members as per the Competition Act who shall be appointed by the Central Government. The Chairperson and other Members shall be whole-time Members. The commission is a  quasi-judicial body  which gives opinions to statutory authorities and also deals with other cases.

51. Role of Competition commission To eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India. To give opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues. Make the markets work for the benefit and welfare of consumers. Ensure fair and healthy competition in economic activities in the country for faster and inclusive growth and development of the economy. Implement competition policies with an aim to effectuate the most efficient utilization of economic resources.

52. Effectively carry out competition advocacy and spread the information on benefits of competition among all stakeholders to establish and nurture competition culture in Indian economy. The Competition Commission is India’s competition regulator and an antitrust watchdog for smaller organizations that are unable to defend themselves against large corporations. The Competition Commission is India’s has the authority to notify organizations that sell to India if it feels they may be negatively influencing competition in India’s domestic market. The Competition Act guarantees that no enterprise abuses their 'dominant position' in a market through the control of supply, manipulating purchase prices, or adopting practices that deny market access to other competing firms. A foreign company seeking entry into India through an acquisition or merger will have to abide by the country’s competition laws.

53. Telecom Regulatory Authority of India (TRAI) The Telecom Regulatory Authority of India is a statutory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997. The Telecom Regulatory Authority of India (TRAI) was set up in order to have a suitable environment for the growth of the telecommunications industry in the country. To increase transparency and given a data bsed overview of Indian telecom Industry at regular interval, TRAI publish multiple reports. TRAI Structure: TRAI shall have, in addition to its chairman, at least two full-time members and not more than two-part members, all appointed by the Central Government. The members should have special knowledge of, or professional experience in telecom, industry, finance, accountancy, law, management and consumer affairs. Only those senior or retired Government officers can be appointed as members who have served for at least three years as secretary/additional secretary to the Union or State Governments.

54. Role of TRAI To give advice to the government on any matter related to the telecom industry. To protect interest of consumers, monitor quality of services, inspect equipment used in networks and make recommendations about such equipment; To recommend the need for and timing of introduction of new service providers and terms and conditions of the license to a service provider. To ensure technical compatibility and inter-connect between different service providers and regulate their revenue-sharing arrangements. Compliance of terms and conditions of license To maintain a register of interconnect agreements and keep it open for inspection and to settle disputes among the service providers in this respect To perform any such other administration and financial function as may be entrusted to it by the Central Government. To facilitate competition and promote efficiency in operations to promote the growth of telecom services;

55. Unit IV Social Responsibility of Business

56. Social Responsibility of Business Social responsibility means that businesses, in addition to maximizing shareholder value, should act in a manner that benefits society. Social responsibility means that individuals and companies have a duty to act in the best interests of their environment and society as a whole.  Socially responsible companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them. Companies can act responsibly in many ways, such as promoting volunteering, making changes that benefit the environment, and engaging in charitable giving. Consumers are more actively looking to buy goods and services from socially responsible companies, hence impacting their profitability.

57. Types of Social Responsibility Ethical Social Responsibility Create Moral value, this responsibility is not mentioned in any law. Discretionary Social Responsibility Voluntary Social Responsibility. Legal Social Responsibility Follow the Government rules and regulations. Economical Social Responsibility By using economical resources and earn genuine profit.

58. Business Social Responsibility Towards Shareholders Fair rate of return Provide accurate information Provide information about company’s future plan of business . Consumer Provide good quality of product at reasonable cost. Not to follow unfair trade practices. Ensure regular supply of goods and services.

59. Business Social Responsibility Towards Worker Provide healthy working condition Provide opportunity to meaningful work Ensure regular supply of goods and services Government Respect the law Not to create pollution ( Water, air, land & noise) Paid taxes regularly.

60. Importance of Social Responsibility of Business Increase Employee Morale, Attendance and Performance Develop Employee Skills Enhance Company Reputation Attract Investors Increase Customer Goodwill and Loyalty Improve Relationships with The Community

61. Meaning of Business Ethics Ethics means the set of rules or principles that the organization should follow. Ethics shows the distinguishing between the wrong and the right part of the businesses. Ethics, a standard is set for the organization to regulate their behavior. The ethics that are formed in the organization are not rocket science. They are based on the creation of a human mind. That is why ethics depend on the influence of the place, time, and the situation. Ethical Principles in Businesses from an Indian Perspective Integrity, Loyalty, Honesty, Respect and Concern, Fairness, Leadership etc.

62. Definition of Business Ethics with Example & Elements “Business ethics can be defined as socially determined moral principles which governs business activities.” Examples :- Follow fair trade practices. Charging faire price from customer. Giving faire treatment to workers. Earning reasonable profit. Elements of business ethics :- Top management committee. Publication of code ( Statement of rules and regulation). Measuring results . Involving employees at all level (Decision making).

63. Code of Business Ethics A code of ethics sets out an organization's ethical guidelines and best practices to follow for honesty, integrity, and professionalism. For members of an organization, violating the code of ethics can result in sanction including termination. In some industries, including banking and finance, specific laws govern business conduct. In others, a code of ethics may be voluntarily adopted. Need for code of ethics To provide guidelines for employee behaviors To comply with the law and government guidelines To established a better corporate culture To make proper use of company assets and property.

64. Meaning Corporate Governance Corporate governance is the system by which companies are directed and controlled. Boards of directors are responsible for the governance of their companies. The shareholders’ role in governance is to appoint the directors and the auditors and to satisfy themselves that an appropriate governance structure is in place. The board of directors is responsible for creating the framework for corporate governance that best aligns business conduct with objectives. Corporate governance is the combination of rules, processes or laws by which businesses are operated, regulated or controlled.

65. Definition of Corporate Governance “Corporate Governance is a system of rules, practices and processes that are used by the corporation to direct and control its action.” “Corporate Governance means the application of best management practices, fulfillment of law and ethical standard for effective management and distribution of wealth and discharge of social responsibility for sustainable development of all stakeholders.” The term corporate governance encompasses the internal and external factors that affect the interests of a company’s stakeholders, including shareholders, customers, suppliers, government regulators and management. Father of Corporate Governance:- Bob Tricker (Book Written “ Corporate Governance ” in year 1984)

66. NEED/ Objective/ Benefit/ Feature of Corporate Governance Safeguard the money of investor. Ensure success of corporate. Give ease of access of cheap fund. Foundation of good corporate Citizens. Attract global perspectives (Attract global companies).

67. Purpose of corporate Governance Conduct of business accordance with shareholder desires (Maximizing wealth) while confirming to the basic rules of the society embodied in law and local customs. Building relationship among various stakeholders in determining the direction and performance of corporation.

68. Principles of Corporate Governance Sustainable development of all stake holders. Effective Management & Distribution of wealth. Discharge of social responsibility . Application of best management practices. Compliance of law in letter of spirit. Adherence of ethical standard.

69. Principles of corporate governance in brief All shareholders should be treated equally and fairly. Part of this is making sure shareholders are aware of their rights and how to exercise them. Legal, contractual and social obligations to non-shareholder stakeholders must be upheld. This includes always communicating pertinent information to employees, investors, vendors and members of the community. The board of directors must maintain a commitment to ensure accountability, fairness, diversity and transparency within corporate governance. Board members must also possess the adequate skills necessary to review management practices. Organizations should define a code of conduct for board members and executives, only appointing new individuals if they meet that standard. All corporate governance policies and procedures should be transparent or disclosed to relevant stakeholders.

70. CSR in Indian Business Corporate social responsibility (CSR) requires every business to behave ethically and improve the quality of life of society.  Every business must decide voluntarily to contribute to a better society and a cleaner environment. CSR is a concept that strikes a happy balance between economic, social, ethical and societal concerns of a business. It forces every business to conduct the show in the best interests of society. India is the first country in the world to make corporate social responsibility (CSR) mandatory. As per the Companies Act, 2013. Businesses can invest their profits in areas such as education, poverty, gender equality, and hunger as part of any CSR compliance.

71. CSR obligation to Indian companies according to company act. 2013 The Section 135 is applicable to companies which have an annual turnover of Rs.1,000 crore or more or   a net worth of Rs.500 crore or more or   a net profit of Rs.5 crore or more. Companies meeting the above criteria are required to constitute a CSR Committee consists of three directors and one director shall be an independent director. 

72. companies to implement their CSR in PROJECT MODE :- Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swachh Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water. promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects. promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups. Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry , conservation of natural resources and maintaining quality of soil, air and water including contribution to the Clean Ganga Fund setup by the Central Government for rejuvenation of river Ganga .

73. Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional art and handicrafts. measures for the benefit of armed forces veterans, war widows and their dependents; training to promote rural sports, nationally recognized sports, Paralympic sports and olympic sports; contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Govt. for socio economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women; contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Govt. rural development projects slum area development.

74. Thank You…