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Contemporary Issues of Business and Economic Development in India

ISBN: 978-81-69155-50-2 | Format: Paperback | Genre: Economics | Page Count:284 | MRP: 650 | Book Size: 5.5/8.5 | Edition: 2026 | Other Details
S. No. Title, Authors and DOI
1
Digital Gatekeepers: How ATS Design Impacts Applicant Satisfaction and Hiring Fairness
Indranil Ganguly
Abstract
The digitalization of recruitment has positioned Applicant Tracking Systems (ATS) as central gatekeepers in modern hiring, influencing how candidates are screened, evaluated, and selected. This study investigates the impact of ATS design on candidate satisfaction and perceptions of hiring fairness, integrating applicant reactions and organizational justice perspectives. Using a quantitative research design, data were collected from 285 job applicants across retail, healthcare, and information technology sectors through structured questionnaires. Regression analyses reveal that effective ATS design significantly predicts candidate satisfaction (β = 0.609, p < 0.001) and strongly enhances perceptions of hiring fairness (β=0.838, p < 0.001). Findings underscore the importance of usability, transparency, feedback, and explainability in promoting trust and procedural justice in digitally mediated recruitment. The study highlights that ATS are not merely administrative tools but socio-technical mechanisms shaping experiential and evaluative outcomes, with implications for HR practitioners, system designers, and organizational policy aimed at fostering equitable, candidate-centered recruitment processes.
2
A Study on the Status of Financial Literacy Amongst Rural Women of Cachar District of Assam
Manna Nath & Manash Roy
Abstract
The financial literacy of women in modern society is of highest importance from the standpoint of economic development, alleviation of poverty and the promotion of gender equity. Empirical study indicates that increasing women’s engagement in financial activities plays a significant role in fostering the creation of more robust and resilient financial system. However, there is a significant deficiency in research that inspect the status of women’s financial literacy in rural contexts at the household level, especially when accounting for all female adult members. In response, the present study seeks to examine the status of women’s financial literacy within the Cachar district of rural Assam. This study is based on primary data gathered from 482 households over the months of June and July, 2022. To evaluate the status of women’s financial literacy composite index formulated by Roy and Nath (2025) is used. Simple statistical tools like mean, standard deviation and F-test are used for the analysis of data. The study unfolds a very deficient level of financial literacy in the study area and it also identified significant disparities in financial literacy across the district,block and village levels among the women. The study recommends that initiatives should be taken responsibly for the establishment of a substantial number of financial literacy centres, community-oriented workshops specially targeting women, gender-responsive financial education campaigns, and incorporation of financial literacy into educational curricula, particularly for female students, which might develop robust financial competencies within women and ultimately lead to their financial empowerment.
3
Evaluating the Financial Health by Using EAGLE Model: A Comparative Analysis of SBI and HDFC Bank
Tapas Kumar Sahoo, Ghana Shyam Kafley & Abdul Ghani Faiyyaz
Abstract
The Indian banking sector has undergone significant transformation over the past three decades, driven by liberalization, technological advancement, regulatory changes, and shifting consumer expectations. Within this dynamic environment, two prominent banks, the State Bank of India (SBI) and Housing Development Finance Corporation (HDFC) Bank, represent contrasting models of public and private sector banking. This research conducts an in-depth comparative analysis of the financial health of SBI and HDFC Bank using the EAGLE Model framework, supported by the hypothesis testing for statistical validation. Covering a 20-year period from 2003 to 2022, this study evaluates critical financial performance indicators, including profitability, asset quality, liquidity, solvency, and operational efficiency. The results reveal significant differences between the two banks in terms of return on assets, return on equity, non-performing asset ratios, capital adequacy, and strategic performance measures. The analysis suggests that HDFC Bank demonstrates superior and more consistent financial performance compared to SBI, particularly in profitability and asset quality, while SBI maintains its strength in liquidity and outreach. The findings hold implications for investors, policy-makers, and bank management in addressing structural challenges, improving asset quality, and enhancing operational resilience.
4
Estimation of Labour Use Efficiency of Assam Gramin Vikash Bank: A Non-parametric Approach
Mohuya Deb Purkayastha, Ram Chandra Das
Abstract
Banking sector is the backbone of the Indian financial system. Thus, it is utmost important to measure the efficiency of this sector. As labour is the prime component of any organisation where the ultimate profitability is dependent on labour, it is important to assess how the labour is being utilized by the management. In this context, the present study attempts to assess the labour use efficiency of one of the RRBs of Northeastern region that is Assam Gramin Vikash Bank at its Silchar region. For measuring the labour use efficiency of the branches under study of AGVB, non-parametric Data Envelopment Analysis (DEA) technic is used. For selection of inputs and outputs production approach is applied. The findings of the study reveals that there exists cost saving potentialities at the branches to the tune of 24 percent following the benchmark. Further, it is seen that maximum branches are overstaffed. Moreover, it is found that total observed labour cost is higher than the optimum labour cost for the study period except for the year 2018 where a variation is observed.
5
Impact of G20 Summit and Chandrayaan-3 on Indian Stock Market-Event Study Analysis of NIFTY50 and Sectoral Indices
Anasua Dutta, Tanusree Deb Roy
Abstract
The study analyse two landmark developments of 2023 influenced the Indian equity market: the G20 summit hosted by India and the successful Chandrayaan-3 mission. Using a standard event study framework, the study computes abnormal returns (AR) and cumulative abnormal returns (CAR) to capture short-term price adjustments. For the benchmark index, NIFTY50, and selected sectoral indices. The empirical evidence indicates the absence of statistically significant broad-market reactions. However, short-term sectoral effects are observed. The findings suggest that diplomatic and technological advancements influence market behavior selectively, and also offer insights for sectoral forecasting and event-driven investment strategies in emerging markets.
6
Guns and Gaps: Defence Expenditure and Income Inequality in India
Biraj Dey
Abstract
This paper examines the link between increased defence expenditure and rising income inequality in India, India ramped up its defence spending to modernize its military, but this has also led to concerns about malpractices in defence contracts, including corruption and favouritism. Moreover the significant security gains made after the 1971 war, these corrupt practices have diverted crucial resources away from essential social sectors, exacerbating economic disparities. The misallocation of defence funds, often into the hands of politically connected elites, has resulted in a widening income gap, where the benefits of defence spending fail to reach the broader population. This paper argues that reforms in defence procurement, aimed at increasing transparency and accountability, are crucial to ensure that defence expenditure supports both national security and equitable socio-economic development.
7
Design for Change: Fostering indigenous art and design practices for sustainable livelihood
Debasish Chakraborty
Abstract
Art and design practices in community development, actively involves residents in identifying needs, planning a sustainable design solution, and implementing changes, shifting from top-down aid to collaborative empowerment, fostering ownership, building social capital, and ensuring sustainable, culturally relevant outcomes for better economic growth, and flexibility, using methods like re-design of the existed practices which is one of the prime focus to address issues of sustainable design practices from indigenous to contemporary design for the artisan community who are practicing indigenous art forms, but could not withstand the indignation of continuous technological development in preserving their art and thee is a tendency to shift their occupation for survival in many occasions which had caused threat for survival to both the artisan and the art practice. Despite the cultural significance, these traditional art practices faces problems due to various factors which need attention for socio cultural and economic upliftment of an artist community from the design development perspective. The paper focuses on the projections of creating sustainable livings for local artisans, particularly potters of Barak Valley through contemporary art and design intervention and integration of new design elements in preserving the age old heritage of traditional art practices. The paper has possible expected outcomes through participatory, community-centric approaches of the skills of the artisans/potters identified for the purpose of study, moving beyond mere mass production of the traditional pots and other utility items in particulars to new contemporary utility based items to foster self-reliance, broader economic benefit, social security and environmental adaptation.
8
An Analysis of Growth and Stability of Solar Energy and Small Hydro Power Installation Capacity in Northeast India
Tanushree Dey, Sujoy Das
Abstract
Non-renewable energy sources are depleting fast. These non-renewable sources are also contributing in global warming and climate change. Hence, it is necessary to use the sources of renewable clean and abundant energy sources. Among various types of renewable energy sources, solar power and small hydro power are the two most important energy sources available in northeast India. Arunachal Pradesh has one of the highest small hydro power potential. Among all the states of northeast India, only Manipur has a solar policy. Despite having very high potential of these two sources, all the states are exploiting very insignificant proportion of these two clean energy potentials. Moreover, high instability is also observed in the use of these two potentials. On the basis of the findings, the study suggests greater efforts on the part of state governments and more spending on R&D.
9
Artificial Intelligence and Machine Learning
Md. Mokshud Ali & Mohammad Jobir Monjur
Abstract
This chapter shows the evolving influence of Artificial Intelligence (AI) and Machine Learning (ML) on the digital economy, emphasizing their economic ramifications, adoption trends, and socio-economic effects. The digital economy has become a fundamental component of global economic operations, representing a substantial portion of world GDP. The swift advancement of AI and ML technologies has expedited this shift, augmented productivity, and stimulated innovation across several sectors. The implementation of these technologies is inconsistent, exhibiting significant discrepancies between the Global North and South. This chapter is to present the impact of AI and ML on economic performance, analyze the obstacles to their dissemination, and address the governance and ethical issues related to their application. The chapter used a mixed-method approach, integrating qualitative insights with quantitative data to show the adoption trends, economic implications, and societal challenges. The results indicate that although AI and ML possess the capacity to create trillions of dollars in value and enhance global GDP, their advantages are not uniformly allocated. Identified key hurdles are the governance-implementation gap, ethical hazards including bias and privacy concerns, and environmental issues associated with energy usage in AI-driven data centers. The chapter enhances scholarly discourse regarding AI’s economic implications and provides pragmatic guidance for politicians and industry professionals on promoting responsible AI use. The chapter highlights the necessity for comprehensive laws and regulatory frameworks to address the digital gap and guarantee fair access to AI technologies, in light of the swift advancement of AI. Future exploration must concentrate on formulating measures to mitigate AI’s environmental impact, improve its inclusivity, and investigate its enduring implications on labor markets and global disparities.
10
Governance and Sustainable Livelihoods among Tribal Communities in Northeast India
Lalzo S Thangjom
Abstract
Sustainable development in indigenous regions requires more than policy declarations; it requires meaningful access, equity, participation and recognition of traditional knowledge systems. This study examines the lived realities of tribal youth in Northeast India in relation to access to basic services, socio-economic conditions, environmental awareness, governance participation, and engagement with the Sustainable Development Goals (SDGs). Based on a quantitative cross-sectional survey of 54 tribal respondents aged 18–35 years, the study identifies structural gaps in infrastructure, economic opportunity, youth empowerment, and institutional inclusion. While educational attainment among respondents is relatively high, the findings show that education does not consistently translate into income security, revealing a statistically significant negative correlation between education and income source (r = –0.362, p = .007). Although access to clean water and electricity is largely available, concerns remain regarding reliability and sanitation quality. Awareness of SDGs is limited, and community engagement in SDG-related activities remains low. Governance trust is moderate to weak, and traditional ecological knowledge is insufficiently integrated into formal planning systems.
11
Timing Abilities of Mutual Fund Managers in India- A Case Study of SBI Mutual Funds
Rajib Deb
Abstract
Mutual funds play as a key investment method for investors. It provides safe and systematic avenues by which investors can reduce their risk through risk diversification features. In today’s volatile market scenario, the mutual fund is a suitable sector for investors as compared to other investment options. In India, the MF industry has been functioning for more than five decades (Sehgal & Babbar, 2017). Since the emergence of the Indian Capital Market and the deregulation of the economy in 1992, it has undergone significant transformations with many fluctuations. There have been fundamental changes in both the primary and secondary markets since that year. The study has empirically analyzed Indian fund managers’ market timing and selectivity skills abilities of public sector bank-sponsored schemes by utilizing two popular models. The two models analyze the return-based timing abilities of fund managers. The fund managers’ market timing abilities are crucial in bringing equity mutual funds’ superior financial performance. A manager can show up timing skills if they predict the stock market’s direction using suitable techniques and select the portfolio to add value to the mutual fund. The results from both models suggested that fund managers cannot time the market correctly; instead, they go in the wrong direction.
12
Examining the Status of Women Empowerment in India: A Rural – Urban Analysis
Debojit Choudhury, Sagarika Boro
Abstract
This paper tries to examine the status of women empowerment in rural and urban India, based on secondary data gathered from the National Family Health Survey-5 state fact sheets. Based on rankings of states and union territories, women’s empowerment is highest in Puducherry and lowest in West Bengal in rural India. In urban India, Sikkim, Arunachal Pradesh, and Manipur have the highest empowerment levels, while Tripura has the lowest empowerment level. The finding indicates that the status of women empowerment is moderate in both rural and urban India. The women empowerment index is also significantly lower in rural India than in urban India. Interstate disparity in terms of women empowerment is also found to be relatively higher in rural India. Based on the findings of the study, we recommend that the Government of India should implement more gender-based programmes to enhance women empowerment, particularly in rural areas.
13
Environmental Degradation and Sustainable Development: A Case Study of Brick Kilns in Palasbari Revenue Circle, Assam
Manashi Mazumdar
Abstract
Environmental pollution poses a serious threat to human development by adversely affecting both the physical and mental well-being of people. Changes in the physical, chemical, and biological components of the environment have made human survival increasingly challenging. A clean and pollution-free environment is therefore essential for human existence, as a healthy environment alone can ensure a better quality of life. Among small-scale industries, brick kilns play a significant role in meeting construction demands. However The Central Pollution Control Board (CPCB), Delhi, has recognized the brick production industry as highly resource and energy intensive as well as polluting industry, primarily due to obsolete and traditional production techniques used in India. The brick kilns are source of local air pollution, land degradation and water pollution which ultimately affect the local population, agriculture and vegetation and also contribute to climate change at global level. This paper examines the environmental impacts of brick kilns in the Palasbari Revenue Circle, Assam, focusing on air, soil, and water degradation and their implications for sustainable development.The study is based on primary data collected through field surveys, interviews and observations, supported by secondary data from government reports and published literature. The study highlights the need for adopting cleaner technologies, enforcing environmental regulations, and promoting sustainable alternatives in the brick-making sector.
14
Assam: Nature’s Canvas and Cultural Mosaic – A Tourism Perspective
Partha Nath, Sameer Goswami
Abstract
Tourism has emerged as a dynamic sector with significant potential to drive economic growth, generate employment, and promote cultural exchange. This study explores the multifaceted role of tourism in Assam, a state rich in natural beauty, cultural heritage, and biodiversity. It examines the global and national context of tourism, highlighting its contribution to GDP and employment, and narrows the focus to Assam’s unique offerings—ranging from wildlife sanctuaries and tea gardens to spiritual and adventure tourism. The research identifies key tourist destinations, evaluates the sector’s economic impact, and analyzes government initiatives aimed at sustainable development. Despite its promise, Assam’s tourism industry faces persistent challenges, including inadequate infrastructure, policy gaps, and security concerns. Using secondary data and descriptive analysis, the study underscores the need for coordinated efforts, policy reforms, and strategic investments to unlock Assam’s tourism potential and position it as a premier destination in India and beyond.
15
Impact of Cyber Security in the Digital Economy
Mampi Devi & Arpan Datta Roy
Abstract
As the whole world turns into digital, so the technological devices have impacted nearly every part of our lives. The uses of these devices are growing very rapidly to simplify our day to day lives that directly proportional to the growth of Digital Economy. Resultant, exponential growth of the international economy and interconnections of global landscape. However, others side of the coin, is also being misused for these technological devices that give birth to cybercrime. Since digital technology align with business strategy so cyber security is not only the responsibility of IT department only, it also the responsibility of each individual employee to maintain the growth of Digital Economy. To resolve the issues of cybercrime Cyber forensic plays vital role in this society. This paper provides the awareness knowledge of dynamic development of digital economy and, how cybercrime effect the growth of digital economy. Moreover, this paper also discusses about the overview of different forensic investigation methodology in perspective of cyber forensic investigator which allows law enforcement, private detectives, and cyber security experts to reveal digital action after a cyber event.
16
Greenwashing in India: The Role of Journalism in Shaping Corporate Sustainability Narratives
Mizanur Rahaman & Deepak Upadhyaya
Abstract
The chapter discusses greenwashing in India as a communication phenomenon shaped by the mediating role of journalism. Moving beyond a corporation-centric view, it argues that the credibility and circulation of sustainability claims depend significantly on how they are framed, amplified, or interrogated within news media. The analysis presents a conditional argument i.e. journalism can both accelerate and de-accelerate greenwashing. Drawing on literature from journalism studies, environmental communication, and political economy, the chapter analyses three interrelated dimensions—structural, professional, and cognitive. Structural factors such as advertising dependence and corporate ownership create incentives for non-critical coverage. Professional factors, including reliance on PR content and time constraints, facilitate unfiltered dissemination of corporate narratives. Cognitive factors, particularly gaps in environmental literacy among journalists, further reduce critical scrutiny. While investigative and data-driven journalism can challenge misleading claims, such efforts remain episodic. Overall, journalism emerges as a site of contestation where greenwashing is both reproduced and resisted.
17
Role of Medical Imaging and Machine Learning Techniques in Assistive Disease Diagnosis
Sourav Dey Roy & Arpan Datta Roy
Abstract
Healthcare is undergoing a transformative evolution driven by advances in digital technologies, with medical imaging and machine learning (ML) emerging as pivotal tools for improving disease diagnosis, treatment, and patient outcomes. Medical imaging modalities enable visualization of internal body structures, while ML algorithms facilitate automated, accurate, and efficient analysis of complex imaging data. The integration of ML with medical imaging has demonstrated remarkable success in early disease detection, personalized treatment planning, predictive prognosis, and continuous patient monitoring. This chapter provides a comprehensive overview of medical imaging techniques and ML approaches applied in healthcare, emphasizing their synergistic role in assistive disease diagnosis and management. The insights presented aim to guide researchers, clinicians, and policymakers in leveraging ML-driven medical imaging for improved, patient-centered care.
18
An Ideal approach for Digital Transaction Fraud Detection using Machine Learning
Maibam Debina Devi & Arpan Datta Roy
Abstract
This paper highlights the importance of machine learning–based solutions for finding the optimal approach for detecting credit card fraud. With the increasing number of digital transactions, identifying fraudulent activities has become a critical challenge. In this study, several machine learning models, including Random Forest, XGBoost, and LightGBM, are applied to detect fraudulent transactions. The experiments are conducted on the ULB Credit Card Fraud Detection dataset, which contains 284,807 transaction records with a fraud rate of 0.172%, making it a highly imbalanced dataset. The models are evaluated using performance metrics such as Precision–Recall Area Under the Curve (PR-AUC) and Receiver Operating Characteristic Area Under the Curve (ROC-AUC). The results show that all models perform effectively in fraud detection; however, LightGBM achieves the best performance with the highest PR-AUC score of 0.8764. Therefore, LightGBM is identified as the most effective model among the evaluated approaches for this dataset.

About the Book

Contemporary Issues of Business and Economic Development in India, edited by Dr. Pranesh Debnath and Dr. Manash Roy, presents a rigorous, evidence-based analysis of the structural transformations and challenges shaping India’s contemporary economic landscape. Drawing on research in human resource management, socio-economic development, banking, and institutional productivity, the volume offers valuable insights for academics, policymakers, and industry practitioners....The book examines the digital transformation of talent acquisition, focusing on how Applicant Tracking System (ATS) design affects candidate satisfaction and recruitment equity. Research across the retail, healthcare, and IT sectors highlights the importance of usability, transparency, and algorithmic explainability in promoting organizational justice.It also explores financial literacy among rural women in Assam’s Cachar district. Using household-level data and multi-stage sampling, the study identifies significant gaps and spatial disparities in financial knowledge, emphasizing the need for targeted financial literacy programs, community-based initiatives, and gender-responsive policies to support inclusive growth.

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