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2 Associate Professor and Research Supervisor, Department of Banking Technology, Pondicherry University, India.
Article Id - 10120140510008, Pages : 58-70, Date of Publication : 23, October 2014
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Abstract
Micro, Small and Medium Enterprises (MSMEs) are the most dynamic and significant organs of an economy. In addition to creating sizeable number of jobs for the working population of a country, MSMEs contribute to Exports revenue as well as Gross Domestic Product to a reasonable extent. The purpose of this paper is to attempt recalling official definition of MSMEs in India, underpinning their economic significance, government initiatives in their regard, their problems and financing issues, and the trends in bank financing MSMEs in India. Using secondary data from various official sources, the study presents its findings in the form of tables and graphs. It identified a high positive correlation between gross output from MSMEs and (i) GDP at market prices, as well as (ii) GDP from public sector. The economic implications of MSMEs in terms of jobs created, its contribution to GDP, export performance, and capital formation in fixed assets are identified and interpreted, thus underlining the significant contributions of MSMEs to Indian Economy. It identified number of schemes implemented by governments (both federal and regional). While access to finance, infrastructure, marketing, training and education, and regulatory burden have been acknowledged as sum of the major problems faced by MSMEs impeding their growth, financing issues are found to be mushrooming and form a core of the problems. Finally the paper studies the trend of bank financing to MSMEs in India, which indicated an average 21.72% in Total Bank Credit in the recent 7 years from 2007 to 2014. It concludes by emphasizing the need to enhance bank funding to MSMEs.
Keywords
Bank Financing, Economic Implications, Government Initiatives, MSMEs In India.
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References
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[4] D.S. Chan, Theory and implementation of multidimensional discrete systems for signal processing, doctoral diss., Massachusetts Institute of Technology, Cambridge, MA, 1978. (12)
Proceedings Papers:
[5] W.J. Book, Modelling design and control of flexible manipulator arms: A tutorial review, Proc. 29th IEEE Conf. on Decision and Control, San Francisco, CA, 1990, 500-506 (12)
IAEME Publication Fees
IAEME Publication charges an Article Processing Charge (APC) once an article is accepted for publication. These charges cover the costs of turning a manuscript into a finished article, as well as the costs of hosting, distributing and promoting an article.
Article Processing Charges explained
We are committed to making the costs of publishing as clear as possible and so the charges for each journal are clearly displayed on each journal`s homepage.
When a manuscript is submitted, it passes through the many different departments at Hindawi to ensure the quality checks, peer review, production and promotion of articles is carried out in a timely manner and to a high standard:
✔ The Editorial Screening team, who perform initial technical and ethical checks
✔ The Editorial team, who help the journal`s Academic Editors manage the review process
✔ The Production team, who convert the manuscript to a professionally typeset article and well-structured file format
✔ The Proofing team, who coordinate the proofing process through Hindawi`s Online Proofing System (OPS)
✔ The Editorial Quality Assurance team, who perform a final check to ensure that the manuscript and its review process adhere to the journal`s guidelines and policies
✔ Our Marketing and Communication teams, who ensure your article receives the attention it deserves.
✔ The Technology team, who build and maintain our systems, and develop new systems
The work these teams do contribute to the requirement of an APC and is why the actual amount payable varies depending on the journal in which you wish to publish your article.
IAEME Publication does not request Article Submission Charges, also called Submission Fees. These are due at the time of submission of the manuscript. Nor does IAEME charge per page or for color figures or for any other items for which other publishers are known to charge.
Sources for Article Processing Charges (APC)
Authors of an article are responsible for arranging the payment of APC. Still, that typically does not mean that authors end up paying for the publication of the article. The cost of APC is very often assumed either by the organization funding the research published in the article, or by an Open Access Publishing Fund, or by the institution at which the author is employed.
Fair Dealing - Authors and Publisher
When an author submits a manuscript for review at one of IAEME`s journals, the submitted manuscript should not have been previously published in any form and must not be currently under consideration for publication elsewhere. The manuscript should also not be submitted to any other journal during the review process at IAEME Publication. In case the review process at IAEME takes much longer than stated and the author wishes to end the review process at IAEME, he/she should get in contact with the Editorial Assistant of the journal at IAEME and come to an agreement suitable for both sides after looking at the stage of the manuscript in the review process.
With the APC specified above, the author is given an indication what the APC will be. IAEME is charging Publication Fees (APC) but not Submission Fees. This is to the benefit to authors because payments are only due once the author knows the manuscript is accepted. IAEME with editors and reviewers puts much effort in dealing with the manuscript and expects the authors to stick to the common plan of publishing the paper which is linked to payments of APC as given above at the end of the review process. The author is not legally bound at this time, but it would be seen as a strong breach of academic conduct to back off from the publication process. Once the manuscript is accepted for publication, IAEME will issue an invoice in the Paper Submission and Manuscript Tracking System. This is IAEME `s legal offer and will state the regular APC of the journal. The Corresponding Author is expected to arrange payments of the amount stated at this time. In severe cases IAEME `s Complaints Procedure can be followed and the result of this should be binding to the author.
Refund Policy
Once an article has been accepted for publication, any Article Processing Charges on the article become due. The submitting author accepts responsibility for the Article Processing Charges, and will not issue refunds of any kind except those payments made by mistake or in excess of the amount required.
The topics to be covered by this journal include but are not limited to the following fields:
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• Management Information System • History |
• Production and Operation Management • English • Social Science |