Shimla: The National Seminar organized by Department of Commerce concluded here-today with the valedictory address by Dean of Studies Prof. Ved Prakash Sharma who called upon the economists to disseminate the true picture to the common man so that the uncertainty and insecurity of the jobs do not take the first place with them. He said that today is the time of economy and commerce going side-by-side and helping each other in making the nation stable both for government and business.
Earlier on the second day of the seminar Prof. R.K. Gupta from Panjab University Chandigarh chaired the session. He was assisted by Prof. Desh Raj Gupta Deptt. of Commerce. In his keynote address Prof. R.K.Gupta focused on recession as it is contraction phase of business cycle. Impacts of recession have been pin-pointed.
Dr. Monita from Punjabi University Patiala Regional Centre at Mohali presented her paper on Global Economic Crisis. She has revealed that politicians, regulations, financial institutions, investment banks, mortgage lenders and rating agencies are responsible for recession. She continued with saying that India is not in isolation hence, steps need to be taken, however, she agrees that despite of negative impacts, and global recession has some positive impacts also. With the sport of data she revealed that the scenario in 2009 in context to growth rate, inflation, foreign exchange and trends in the Sensex is improving. In her concluding remarks, she has focused on the opportunities like reverse brain-drain, manufacturing hub huge inflow of investments and regulations which are must.
The second paper was presented by Mr. Manjeet Singh from Govt. College Solan on Global Slow-down and Indiaâ€™s new Exim policy. He emphasized mainly on the reasons for the recession and argues that the Exim Policy is instrumental to cope the situation of recession. Dr. Mahinder Singhâ€™s Govt. College Una presented his paper on performance of Micro and Small Enterprises in India has provided very important inputs with the support of data. He said that Govt. is initiating diverse steps to meet out recession in the country.
Mr. Vinod Negi from ICFAI Shimla presented his paper on B.P.Os focused on outsourcing which is reflecting drastically the jobs due to recession. He agrees that there has been reduction in jobs due to recession. Tanu Verma from Chandigarh spoke on case study on shareholders perceptions towards stock market explained the changed behavior of market into speculators. She feels that media is being used to get information about securities rather than following articles and memorandums of association. She stressed that we should invest in stock exchanges to avoid involvements of foreigners.
The last presentation was given by Mr. Manish and Rajnish,the research scholars from HP University, on Effects of recession on Co-operative Banks who do not agree that it has influenced the Co-operative Banks.The delegates raised quarries which were answered by the presenters and cleared by the Chairperson and Co-Chairperson.
Dr. Vijay Sharma Chairman Department of Commerce H.P. University thanked the participants and the University administration particularly the Vice-Chancellor Prof. Sunil Kumar Gupta for encouraging organizing the seminar.