Criticism And Drawbacks Of The Kuznets Curve Economics Essay

Criticism And Drawbacks Of The Kuznets Curve Economics Essay Environmental Kuznets Curve The Environmental Kuznets Curve (EKC) is a pragmatically, relationship that is assumed to trace the pollution path followed by countries as their per capita gross domestic product (GDP) grows and describes the relationship between per capita income and of environmental degradation indicators (Unruth and Moomaw, 1998). In the infant stages of development, the levels of some pollutants climb with increases in per capita income, while at advanced levels of development, environmental degradation follows a downward trend as income per capita is moving upwards. These results give rise to a bell shaped curve relating economic growth to environmental degradation, redolent of the relationship hypothesized by Kuznets (1995) between economic and income inequality (Nahman and Antrobus, 2005). The concept of EKC came out in the early 1990s with Grossman and Kruegers (1991) path-breaking study of the potential impacts of NAFTA (North American Free Trade Agreement). Origins of the EKC The environmental Kuznets curve is a hypothesized relationship between different indicators of environmental degradation and income per capita. At first stages of economic growth degradation and pollution increase, but further than some level of income per capita, the movement reverses, so that at high-income levels economic growth leads to environmental improvement. This means that the impact of environmental indicator is an inverted U-shaped function of income per capita (Stern, 2003) In other words, the distribution of income becomes more asymmetrical in early stage of income growth and then the distribution moves towards greater equality as economic growth continues (Kuznets, 1955). This liaison between income per capita and income inequality can be represented by a bell-shaped curve. This is viewed as an empirical phenomenon known as the Kuznets Curve (Dinda, 2004). Criticism and drawbacks of the Kuznets Curve The Kuznets Curve has helped in studying the relationship between environmental pollutants and GDP of countries but it does have drawbacks too. Even Kuznets (1955) himself indicated that the Kuznets Curve Theory is not a perfect one and the relationship between income inequality and economic development cannot be assumed. He also declared that lot information in the paper has been speculated and thus further research work must be carried out. The reason behind the development of the Environmental Kuznets Curve Since the last decades, the increasing threat of global warming and climate change has been of major continuing concern. Organisations such as the United Nations have been trying to diminish the unfavorable impacts of global warming through intergovernmental and binding accords. After immense negotiations, the agreement namely the Kyoto protocol was signed in 1997. This protocol has the objective of reducing greenhouse gases (GHG) that cause climate change. The Kyoto protocol recognises limitations to environmental pollutants and necessitates a timetable for realisation of the emission reductions for the developed countries. During 2008 2012 periods the demands reduction of the GHG emissions to 5.2 % lower than the 1990 level. In 2005 it came into force: 178 states have signed and approved the protocol since April 2008 (Halicoglu, 2008). Greenhouse gas emissions particularly carbon dioxide (CO2) emissions, are considered to be the core causes of global warming. Consequently, to prev ent global warming a number of countries have signed the Kyoto Protocol and agreed to diminish their emission levels. Galeotti and Lanza (1999) indicated that some developing states refused to sign the Kyoto Protocol based on the argument that the industrialisation and development process should be subject to no constraints, particularly for energy production and consumption. One probable foundation for this position is the belief that while pollution increases with growth in GDP, it happens a point where pollution goes down. This view calls for a careful analysis of the relationship between economic growth and pollution. This relationship is obviously very complex as it depends on numerous different factors such as: The countrys size, The sectoral structure, including the composition of the demand for energy, The vintage of the technology, The demand for environmental quality, The level and quality of environmental protection expenditures. Shafik (1994) reports that the relationship between economic growth and environmental quality has been a source of great disagreement for a lengthy period of time. On one side it has been observed that greater economic activity unavoidably leads to environmental degradation and finally to possible economic and ecological collapse. At the other side is the view that those environmental nuisances worth solving will be tackled more or less automatically as a consequence of economic growth. Previous to 1970, there was a conviction that the raw materials consumptions, energy and natural resources were growing at the same pace as economy grows. In the early 1970s, the Club of Romes Limits of Growth view (Meadows et al., 1972) was brazen about the concern for the accessibility of natural resource of the Earth. They argued that the finiteness of ecological resources would prevent economic growth and advocated for a solid state economy with zero growth to avoid striking ecological circumstances in the future. This view has been criticised on both hypothetical and empirical grounds. Experimental works shows that the ratio of consumption of some metals to income was falling in developed countries during the 1970s, which brings divergence with the predictions set out in the Limits to Growth view (Maleness, 1978). Natural environment not only provide natural resources important for economic development but also execute the vital function of supporting life, if man persist to exp loit environment recklessly, then it would not be able to sustain life any longer. Environmental Kuznets Curve definition and graphical illustration The EKC follows the name of Nobel Laureate Simon Kuznets who had remarkably hypothesized an inverted U income-inequality relationship (Kuznets, 1955). In the 1990s economists detected this relationship between economic growth and environmental degradation. Since then this relationship is known as Environmental Kuznets Curve. According to the EKC theory as a country develops, the pollution increases, but after reaching a specific level of economic progress pollution begin to decrease. The EKC hypothesis suggests that environmental degradation is something unavoidable at the first stage of economic growth, so a developing country is forced to tolerate this degradation in order to develop. In a graphical representation the x-axis symbolize the economic growth which is measured by GDP per capita and the y-axis represents the environmental degradation which is measured by many different pollution indicators such as carbon dioxide, sulfur dioxide, nitrogen oxide, deforestation etc. The shapes of the Environmental Kuznets Curves. The relation between income and environmental pressure can be sketched in a several ways; firstly one can distinguish monotonic and non-monotonic curves. Monotonic curves may show either mounting pollution with rising incomes, as in the case of municipal waste per capita or decreasing. But, non-monotonic patterns may be more probable in other cases and two types have been recommended, namely inverted-U and N-shaped curves. The pattern discovered in experiential research depend on the types of pollutants scrutinised and the models that have been used for inference. Four speculative opinions are presented in favour of an inverted-U curve for (local) air pollutants, which can be listed as: Positive income elasticitys for environmental quality, Structural changes in production and consumption, Rising information on environmental consequences of economic activities as income rises and More international trade and more open political systems with increasing levels of income (Selden and Song 1994). Others, for example Pezzey (1989) and Opschoor (1990), have argued that such inverted-U relationships may not hold in the long run. They anticipated a so-called N-shaped curve which demonstrates the same pattern as the inverted-U curve initially, but beyond a certain income level the relationship between environmental pressure and income is positive again. Delinking is thus considered a temporary phenomenon. Opschoor (1990), for example, argues that once technological efficiency enhancements in resource use or abatement opportunities have been exhausted or have become too expensive, further income growth will result in net environmental degradation. Despite these considerations empirical evidence so far has been largely in favour of the inverted-U instead of the N shaped relationship (de Bruyn et al., 1998). The shortcomings of EKC analysis A number of critical studies of the EKC literature have been published (e.g. Coodoon, 2003; Ekins, 2000; Fare et al.,2001; Perman, 2003; Stern et al., 1996; Stern, 2004). Theoretical critique This section discusses the criticisms that were raised against the EKC on theoretical (rather than methodological) grounds. One of the main criticisms of the EKC models is the assumption that environment and growth are not interrelated. In simple words the EKC hypothesis assumes no feedback between income and the pollution of environment. Fare et al., (2001) refer that due to the non-availability of actual data on environmental quality is the major restriction of all EKC studies. Environmental quality is something that is not measured accurately. Therefore, a guide of environmental quality, which could be a better measurement, should be developed and used to examine the EKC hypothesis. According to Ekins (2000), consideration in assessing the strength of the estimation is the reliability of the data used. However, there is little sign that the data problems are serious enough to shed doubt on the basic environment-income link for any particular environmental indicator, but the results in fact imply that this might be the case. Stern (2004) draws his attention to the mean median problem. He underlines that early EKC studies showed that a number of indicators: 2 SO emissions, x NO, and deforestation, peak at income levels around the current world mean per capita income. A hasty glimpse at the available econometric estimates might have lead one to believe that, given likely future levels of mean income per capita, environmental degradation should turn down from the present onward. Income is not yet, normally distributed but very skewed, with much larger numbers of people below mean income per capita than above it. Hence, this shows a median rather than mean income that is the relevant variable. Another problem related with the EKC studies is the little attention that has been paid to the statistical components of time series analysis. Very few studies in the past investigated the presence of unit root in time series of variables used to investigate the validity of the EKC. 2) Econometric critique Stern (2004) in a survey argues that the econometric criticisms of the EKC fall into four main categories: heteroscedasticity, simultaneity, omitted variables bias, and cointegration issues. Perman and Stern (2003) investigate the data and models for unit roots and cointegration respectively. Panel unit root tests designate that all three series log sulfur emissions per capita, log GDP capita, and its square have stochastic trends. Results for cointegration are less definite. About half the individual country EKC regressions cointegrate but many of these have limitations with incorrect signs. Some panel cointegration tests point out cointegration in all countries and some accept the non-cointegration hypothesis. However, even when cointegration is found, the form of the EKC relationship varies radically across countries with many countries having U-shaped EKCs. In case theres a common cointegrating vector in all countries it will be strongly rejected. Coondoo and Dinda (2002) carried out an analysis for Granger Causality between CO2 emissions and income in various individual countries and regions. In general model that emerges is that causality runs from income to emissions or that there is no significant relationship in developing countries, while in developed countries causality runs from emissions to income. Still, in every case the relationship is positive so that there is no EKC type effect. Data and Time Series Properties To study the relationship between the GDP of Mauritius and the C02 emission in Mauritius the annual data that are being used are; total C02 emission from 1976 to 2008, the real GDP from 1976 to 2008, the population of Mauritius from 1976 to 2008, inflation rate of Mauritius and the unemployment rate of Mauritius. Source: Energy Data Book(2010) Figure 1: Per Capital CO2 Emission Estimate for Mauritius From these sets of data it can be clearly seen that while population was increasing (Figure 2), during these years the real GDP (Figure 3) has been fluctuating a bit. In mid 1970s after the independence there has been a lot of development and transformation in our country. Our economy was diversified and more jobs were created. Furthermore we received more foreign aid. By the late 1970s our economy deteriorated a bit mainly due to the increase in petroleum price in the world market and this lead to less government subsidies and devaluation of our Mauritian Rupees. Then by late 1980s the economy experience steady growth and also a high level of employment, declining inflation and more domestic savings. This period was also marked by the boom in the sugar industry. Though the development slowed down in the 1990s there was a gradual development of the local financial institutions and at the same time our domestic information telecommunication industry boomed. By the start of the 21st ce ntury there our financial services sector became a very important pillar of the economy with an increasing number of offshore enterprises. Finally our economy developed a lot due to the seafood processing and export during the last 10 years. Figure 2: Population Estimates for Mauritius Figure 3: GDP for Mauritius (without inflation) In the short term real GDP is affected by inflation (Figure 4) because the latter causes a rise in general price of goods and services and consequently this causes a change in investments, savings, consumption and import and export of a country and thus the GDP of a country is affected too. [The equation used to calculate real GDP is; GDP = private consumption+ gross investment + government spending + (exports imports)] Source: Federal Bank of Cleveland (2010) Figure 4: Inflation in Mauritius GDP is also depended on unemployment rate (Figure 5) because according to this equation GDP =  compensation of employees  +  gross operating surplus  +  gross mixed income  + taxes less subsidies on production and imports. Thus if unemployment rate increases in a country, the GDP will decrease. Source: Index mundi (2010) Figure 5: Unemployment Rate in Mauritius While trying to prove the relationship between GDP of Mauritius and the C02 emission of Mauritius, we can also observe how the GDP also affects the C02 emission in each specific sector of Mauritius. Graph 6 shows how the Energy sector and the Transport sector are the main contributors to C02 emission from 2000 to 2006. Source: CSO Mauritius(2010) Figure 6: C02 emission per sector

Theories of Accident Causation Essay --

There is major concern about patient safety. It has been caused in part by obvious failures in which many patients have been harmed. This concern seems to be escalating worldwide. The medical culture that we’re in today seems to rely on secrecy, professional protection, defensiveness, and respect to authority. Theses ideologies are central to these failures, and preventing future failures depends on cultural as much as structural change in health care systems and organizations. Swiss Cheese Model James T. Reason developed the Swiss cheese model. The model is used in risk evaluations and risk management to determine accident causation. It’s an accident causation model used in aviation, engineering and healthcare. It represents the human systems used and equates them to Swiss cheese slices put side by side. Sometimes it is referred to as the cumulative act effect. The structure of the Swiss cheese model applies to most risky fields, but I will discuss how it applies to healthcare. The developer theorized that most accidents could be traced back to more than one failure. These failures include organizational influence, supervision, preconditions and specific acts. Some examples of preconditions include fatigued workers, or communication errors. Unsafe supervision can be explained as putting inexperienced nurses in an Oncology unit to administer chemotherapy. Organizational influences can be perceived as performing understaffed when the consequences are known. An organization’s guard against most failures, in the Swiss cheese model, are presented as a chain of walls, symbolized by the slices of cheese. The wholes that are in the cheese represent the weaknesses in individual parts of the healthcare system, and are constantly wavering i... ...ime or another, but if you can decrease that amount from what you normally see it could benefit your organizations reputation. Health care executives are able to better understand why keeping patients’ safe from harm protects market share, reimbursement levels, organizational reputation, and accreditation status (Carroll, 2009). Today, in almost every health care system, safety has become a top priority. Through patient safety efforts the risk management professionals can help to place trust back into the health care system. Reference Carroll, R. (2009). Risk Management Handbook for Health Care Organizations. San Fransisco, CA, USA: Jossey-Bass. Walshe, K., & Shortell, M. S. (2004, May). When Things Go Wrong: How Health Care Organizationa Deal With Failures. Retrieved January 15, 2014, from Health Affairs: content.healthaffairs.org/content/23/3/103.full Theories of Accident Causation Essay -- There is major concern about patient safety. It has been caused in part by obvious failures in which many patients have been harmed. This concern seems to be escalating worldwide. The medical culture that we’re in today seems to rely on secrecy, professional protection, defensiveness, and respect to authority. Theses ideologies are central to these failures, and preventing future failures depends on cultural as much as structural change in health care systems and organizations. Swiss Cheese Model James T. Reason developed the Swiss cheese model. The model is used in risk evaluations and risk management to determine accident causation. It’s an accident causation model used in aviation, engineering and healthcare. It represents the human systems used and equates them to Swiss cheese slices put side by side. Sometimes it is referred to as the cumulative act effect. The structure of the Swiss cheese model applies to most risky fields, but I will discuss how it applies to healthcare. The developer theorized that most accidents could be traced back to more than one failure. These failures include organizational influence, supervision, preconditions and specific acts. Some examples of preconditions include fatigued workers, or communication errors. Unsafe supervision can be explained as putting inexperienced nurses in an Oncology unit to administer chemotherapy. Organizational influences can be perceived as performing understaffed when the consequences are known. An organization’s guard against most failures, in the Swiss cheese model, are presented as a chain of walls, symbolized by the slices of cheese. The wholes that are in the cheese represent the weaknesses in individual parts of the healthcare system, and are constantly wavering i... ...ime or another, but if you can decrease that amount from what you normally see it could benefit your organizations reputation. Health care executives are able to better understand why keeping patients’ safe from harm protects market share, reimbursement levels, organizational reputation, and accreditation status (Carroll, 2009). Today, in almost every health care system, safety has become a top priority. Through patient safety efforts the risk management professionals can help to place trust back into the health care system. Reference Carroll, R. (2009). Risk Management Handbook for Health Care Organizations. San Fransisco, CA, USA: Jossey-Bass. Walshe, K., & Shortell, M. S. (2004, May). When Things Go Wrong: How Health Care Organizationa Deal With Failures. Retrieved January 15, 2014, from Health Affairs: content.healthaffairs.org/content/23/3/103.full

Export Import

Import and export of goods play a vital role in all the economy. That too, India is a developing country, the role of export and import are of greater emphasis. There must be a free flow of exports and imports in order to improve the economy. But, the free flow should not affect the economy. So, the control over import and export of goods become the need of the hour.Regulation mandated by a state attempts to produce outcome which might not otherwise occur, produce or prevent outcomes in different places to what might otherwise occur, or produce or prevent outcomes in ifferent timescales than would otherwise occur. In this way, regulations can be seen as implementations artifacts of policy statements. The economics of imposing or removing regulations relating to markets is analyzed in regulatory economics. [Development of economic legislation is of comparatively recent origin.Reserve Bank of India was established in 1935 to exercise control over banking and fiscal activities. Need to control economic activities through legislation arose during the Second World War to face shortages. Price and distribution controls were established on arious essential commodities under the Defense of India Act, 1939 (later converted into Essential Supplies (Temporary Powers) Act of 1946 and Essential commodities Act in 1955). Foreign Exchange Regulation Act, 1947 was passed to control the difficult position of foreign exchange. Industries (Development and Regulation) Act, 1951 provided for industrial licensing and registration.MRTP Act was passed in 1969 to exercise control over monopolies, unfair trade practices and restrictive trade practices. Sick Industrial Companies (Special Provisions) Act, 1985 was passed as a solution to growing sickness in industries. Securities and Exchange Board of India Act, 1992 was passed to establish a statutory body (SEBI) to exercise control over rapidly growing capital market. Earlier, capital issues (control) Act, 1947 was used to exercise cont rol over capital issues. This Act was scrapped after the formation of SEBI. As international business is growing, importance of controls over foreign transactions is growing.The main purpose of economic legislation is to support the economic policies of the Government. b. to exercise control over economic activities. to protect consumers from unscrupulous persons. d. To prevent bad side effects of the development. India decided to follow Russian model of ‘controlled economy and ‘leading role to public sector'. Various Acts were passed atter 1947 to suppo t rt nese ideals. T envisaged various controls, licensing etc†¦ Some Acts like Essential Commodities Act. FERA was designed to support ‘shortage economy, where supply was less compared to demand. These economic policies were totally changed in July 1991.It is ironical that through the policies have changrd, the old Acts still continue. Though some amendments to FERA, MRTP Act etc†¦ have been made, the bas ic philosophy of these Acts (i. e) controls and licensing continues. Luckily, the Acts provided so much flexibility in framing policies that these old Acts provided so much flexibility in framing policies that these old Acts designed for different purposes and with entirely different concepts can be in fact are being used to implement new policies. Indeed the new policies are against basic philosophy of the old economic legislation.The country which is purchasing the goods is known as the importing country and the country which is selling the goods known as exporting country. The traders involved in such transaction are importers and exporters respectively. In India, exports and imports are regulated by Foreign Trade (Development and Regulation) Act, 1992, which replaced the Imports and Exports (control) Act, 1947, and gave the Government of India enormous powers to control it. Besides the FTDR Act, there are some other laws which control the export and import of goods. These includ e :- a. -rea Act, 1953 b.Coffee Act, 1942 The Rubber Act, 1947 The Marine Products Export Development Authority Act, 1972 e. The Enemy Property Act, 1968 The Export (Quality Control and Inspection) Act, 1963. g. The tobacco Board Act, 197513] IMPORT RESTRICTIONS Control over the import ot the goods in to India is exercised by the Import Trade Control Oragnisation, which functions under the ministry of commerce. This rganisation is supervised by the director General of foreign trade station at New Delhi, who is assisted by Additional and Joint director general and by other licensing authorities at various centers.Current import policy is embodied in the export and import policy book out by the DGFT. CUSTOMS ACT, 1962 Section 12(1) of the customs Act is the charging section which provides for imposition of a duty called Customs duty levied as per the customs Tariff act 1975, or any other law for the time being in force on the goods imported in to India or exported out of India. The ob jects of Customs Act are i) To regulate imports and exports. To protect domestic industries from dumping. iii) revenue in the form of customs duty and indirect tax. iv) legislations such as FTDR and FEMA.To collect To assist allied By virtue of the power conferred under Secl 56 of the Customs Act 1962 Central Govt is empowered to make rules consistent with the provisions of the Act. Similarly by virtue of its powers conferred under Sec157 of the Act , the Central Board of Excise and Customs(CBEC) has been empowered to frame regulations( Customs House Agent Regulations) EXPORT & IMPORT PROHIBITIONS Secl 1 of the Customs Act 1962 gives powers to central government to prohibit import or export of goods . Such a prohibition can be absolute or conditional.Absolute prohibition means an importer is totally prohibited in importing/exporting the subject goods. Some of the goods prohibited from time to time are narcotic drugs, explosives, live or dead animals [birds, arms and ammunition, coun terfeit currency notes. On the other hand, conditional prohibition would mean that the prohibition would mean that the prohibition would mean that the prohibition is subject to certain conditions imposed. A conditional prohibition would attract in a case where the importer is prohibited in selling/trading the imported goods but can only use the ame as a raw material for manufacture.Some item like wool, turmeric, onion, black pepper, tea, etc†¦ are allowed to be exported only after they are graded by designated authorities. In terms of Sec. ll (2) of the Customs Act, 1962, the prohibition may among other things relate to the following: i) Maintenance of security of India. Prevention of smuggling Conservation of foreign exchange and safeguarding balance of payments. Prevention of serious injury to domestic production of goods. v) Protection of national treasures. Maintenance of public order and standards of decency and morality. vii)Protection of IPR (Patent/Trademark/Copyright) viii) Any other matter conducive to the interest of general public. Sec. 2 (33) of the act defines prohibited goods means any goods the import or export of which is subject to any prohibition under this act or any other law for time being in force but doesn't include any such goods in respect of which the conditions subject to which the goods are permitted to be imported or exported, have been complied with. Therefore, the prohibition under Customs Act applies to prohibition under any other law in India. ) Ancient Monument Prevention Act prohibits/ restricts antiquities e imported or exported without licence. b) Arms and ammunition cannot c) Wildlife Act prohibits certain exports- ‘red sandal wood ‘(which are used in Middle East countries for making musical instruments) d) Environment Protection Act prohibits export of some items. At the time of import of goods the customs authorities will first check whether the items imported is prohibited / restricted or subject to co nditional import, before allowing clearance of the goods.Similarly at the time export also the goods are given ‘let export order' only after they are checked with the reference to restrictions/ rohibitions. If such goods are attempted to be smuggled the goods are liable to seizure/confiscation and the offender liable to penal action including arrest / prosecution under the Customs Act. The word ‘confiscation' implies appropriation consequential to seizure. The essence and concept of the confiscation is that after confiscation the property of the confiscated goods vest with the central govt.Secl 1 1 of the Act provides for confiscation of improperly imported goods. The goods brought from a place outside India shall be liable for confiscation. Sec. 111 (d) says â€Å"any goods hich are imported or attempted to be imported or are brought within the Indian Customs waters for the purpose of being imported, contrary to any prohibition imposed by or under this act or any other law for the time being in force. Secl 13 of the Act deals with confiscation of goods attempted to be improperly exported .The export goods shall be liable for confiscation under sec 113 (d) says â€Å"any goods attempted to be exported or brought within the limits of any customs area for the purpose of being exported contrary to any prohibition imposed by or under this Act or any other law for time being in force. COFEPOSA, 1974 Conservation of Foreign Exchange and prevention of smuggling Activities Act (COFEPOSA) was passed in 1974 when foreign exchange position in India was bleak and smuggling was beyond control.In view of recent liberalisation, the Act has lost its significance. The Act gives wide powers to executive to detain a person on mere Suspicion of smuggling (the draconian provisions of the act can be compared with provisions of TADA, where a person can be incarnated in Jail merely for possessing a illegal weapon and having acquaintances with some underworld elements, w ithout any proof of direct involvement in terrorist activities). The acts like COFEPOSA, TADA, etc†¦ are criticized on the ground that they violate basic human rights.Freedom of a man can be taken away under such Acts, without Judicial scrutiny and safeguards. The act has been given special protection by including the same in the 9th schedule to constitution. The validity of COFEPOSA particularly section 5A and SAFEMA smugglers and foreign Exchange Manipulators (forfeiture of property) Act 1976, have been upheld in Attorney General of India Vs. Amaratlal PraJivandas[4]. A 9 member bench SC order. Thus, individual civil liberties can be curtailed for national security and in national interest.Under provisions of the act, a Government officer, not below the rank of Joint Secretary in case of central Government and Secretary in case of State Government, who is specifically authorized by central or state government for that purpose, is authorised to order detention of a person (inc luding a foreigner) with a view to prevent him from acting in any manner prejudicial to conservation or augmentation of foreign exchange, or to prevent him from smuggling or abetting smuggling of goods, or transporting, keeping conceling or dealing in smuggling goods or harbouring persons engaged in smuggling ot goods. section. ). where an order ot detention is made by state government officer, it should be reported to central government within 10 days. (Section. 3 (2)). When detention is ordered by central government, central govt. is appropriate government. When detention is ordered by state government, that govt. is appropriate government. The significance of this definition is that the ‘Appropriate government' has to make a reference to advisory board formed for the purpose of COFEPOSA and take action as per decision of advisory board.Appropriate government also has powers to revoke a detention, release a person temporarily, etc†¦ SAFEMA, 1976 Another act relevant to COEPOSA is SAFEMA – smugglers and Foreign Exchange Manipulators (Forfeiture of property) Act, 1976. The act applies to persons convicted under customs Act, FERA and to those detained under COFEPOSA. The purpose of the act is to forfeit the illegally acquired properties of the smugglers and foreign exchange manipulators. Property can be forfeited merely on the ground that he is detained under COFEPOSA.However, in case of customs and FERA, property can be forfeited only if a person is convicted under these Acts. An appellate tribunal has also been formed for this purpose. COFEPOSA is dreaded Act similar to TADA. It permits detention of a person even without a charge. Since the powers are extraordinary, generally courts are strict about the conditions prescribed in respect of detention. FOREIGN TRADE (DEVELOPMENT AND REGULATION) ACT, 1992. The FTDR Act is designed to develop and regulate foreign trade by facilitating imports in to India, and augmenting exports from India, and fo r matters connected therewith.The salient features of the Act are as follows; 0 It has empowered the Central Government to make provisions for development and regulation of foreign trade by acilitating imports into, and augmenting exports from India and for all matters connected therewith or incidental thereto. 0 The Central Government can prohibit, restrict and regulate exports and imports, in all or specified cases as well as subject them to exemptions. 0 It authorizes the Central Government to formulate and announce an Export and Import (EXIM) Policy and also amend the same from time to time, by notification in the Official Gazette. It provides for the appointment of a Director General of Foreign Trade by the Central Government for the purpose of the Act. He shall advise Central Government in formulating export and import policy and implementing the policy. 01Jnder the Act, every importer and exporter must obtain a ‘Importer Exporter Code Number' (‘EC) from Director G eneral of Foreign Trade or from the officer so authorised. The Director General or any other officer so authorised can suspend or cancel a licence issued for export or import of goods in accordance with the Act.But he does it after giving the licence holder a reasonable opportunity of being heard. PENALTY Export or import in violation of provisions of the act, rules or policy is an offence. Penalty up to five times the value of goods can be imposed. The contravening goods and conveyance carrying the goods are liable to confiscation. The goods and conveyances confiscated can be released by paying redemption charges equal to market value of such goods or conveyance.Conveyance will not be confiscated if it is owner proves that the conveyance was used without his knowledge or ne took reasonable precautions against its misuse. Penalty and confiscation can be ordered by ‘Adjudicatory authority. APPEAL Appeal against the order of DGFT for refusing of suspending or cancelling code umb er or licence or imposing penalty can be filed within 45 days with prescribed authority. Appeal can be filed only on payment of penalty imposed, unless appellate authority dispense with such pre deposit (Section. 5 of FTDR). Central Government can call and examine any records and pass revision orders in some cases (section. 16 of the act). SETTLEMENT A person can opt for settlement by admitting contravention in the following Contravention was without willful mistake or without any circumstances. a. collusion, fraud or without intention to cause loss of foreign exchange. b. Person mporting has not misutilised the imported goods, but condition of ‘Actual user' or ‘Export obligation' have not been satisfied.

Functional Areas Of Human Resource Management - 1583 Words

Key Functional Areas Human resource management role is to plan, administer, and develop programs and policies that are designed to make efficient use of human resources of an organization. HRM is concerned with the people that are employee and their relationship within an organization. Objectives of HRM are utilization of human resources effectively, maximum development of individual and establishing desirable working relationships among all workers. Human resource management concept indicates that employees are employer resources. Decisions like whom to employ, what type of training is offer, what to pay, and how to assess employee performance that directly affects ability and incentive of employees to provide goods and service that†¦show more content†¦In analysis and design of Job examines specific functions of job in defining the skills, knowledge and duties that are required for each position and also getting complete jobs information. With this information, organization carries out the emp loyees recruiting and hiring function. In Recruitment organizations try to find candidates for potential employment. And then in the process of Selection HR attempts to categorize candidates with the required abilities, knowledge, skills, and other capabilities that will help the organization reach their goal. Next important function is training and development that gives employees the knowledge and skills to effectively perform their work and providing training for inexperienced and new workers. For example organization decisions regarding training and other HR practices are designed for providing special customer service. Compensation and benefits are functional area associated with HRM. The Compensation is the pays and bonuses paid to the worker for the work that they perform. For example, if a worker has practice and needs little training his wages will probably be more than wages for employee who must be qualified and trained. On the other hand Benefits are also a kind of compensation that is available to the personnel in form of Medical and dental insurance, travel allowance, paid vacation and leaves. Employee relation refers to communication with workers who are member of trade union. This area