Evaluation of the practice of applying state price regulation methods: Indian experience

In order to generalize foreign experience in the field of state price policy, the practical experience of the Republic of India on the use of state price regulation tools has been considered. A review of the legislation has been conducted, the mechanism has been revealed, and the pros and cons of ce...

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Main Author: E. A. Santovich
Format: Article
Language:Russian
Published: State University of Management 2020-04-01
Series:Управление
Subjects:
Online Access:https://upravlenie.guu.ru/jour/article/view/277
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author E. A. Santovich
author_facet E. A. Santovich
author_sort E. A. Santovich
collection DOAJ
description In order to generalize foreign experience in the field of state price policy, the practical experience of the Republic of India on the use of state price regulation tools has been considered. A review of the legislation has been conducted, the mechanism has been revealed, and the pros and cons of certain state price control measures have been highlighted, in particular the use of a list of vital goods, the establishment of a mandatory maximum market price for all packaged goods, and the protection of the competitive environment of the national market. The results of the state policy of price regulation, as well as the dynamics of key indicators of the Indian economy over the past five years have been analysed. Further prospects and directions of development of the economy of the Republic of India have been outlined.The scientific research methodology has been based on a systems approach. Depending on the nature of the problems being developed, the methods of causal analysis, economic-statistical, monographic, abstract-logical and comparative have been applied. The regulatory legal acts of the Republic of India, statistics, electronic resources, as well as operational primary information of the ministries and departments of the Central Government of India make up the information base of the study.It has been concluded, that the state-built model of price regulation provides protection not only to consumers, ensuring the availability of necessary goods, but also to producers, ensuring redistribution of profit in their favor. The problems of the functioning of individual instruments of the state pricing policy have been indicated, however, based on statistical data, a generalized conclusion has been made, that they are not critical and do not undermine the country’s economy or the free functioning of the market. The prospects for the use of certain elements of the state price policy of India in the Russian economy have been evaluated.
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spelling doaj-art-3600b911e5f2456f927ef4a8fb6102832025-02-04T09:04:38ZrusState University of ManagementУправление2309-36332713-16452020-04-0181111910.26425/2309-3633-2020-1-11-19212Evaluation of the practice of applying state price regulation methods: Indian experienceE. A. Santovich0Saratov State Law AcademyIn order to generalize foreign experience in the field of state price policy, the practical experience of the Republic of India on the use of state price regulation tools has been considered. A review of the legislation has been conducted, the mechanism has been revealed, and the pros and cons of certain state price control measures have been highlighted, in particular the use of a list of vital goods, the establishment of a mandatory maximum market price for all packaged goods, and the protection of the competitive environment of the national market. The results of the state policy of price regulation, as well as the dynamics of key indicators of the Indian economy over the past five years have been analysed. Further prospects and directions of development of the economy of the Republic of India have been outlined.The scientific research methodology has been based on a systems approach. Depending on the nature of the problems being developed, the methods of causal analysis, economic-statistical, monographic, abstract-logical and comparative have been applied. The regulatory legal acts of the Republic of India, statistics, electronic resources, as well as operational primary information of the ministries and departments of the Central Government of India make up the information base of the study.It has been concluded, that the state-built model of price regulation provides protection not only to consumers, ensuring the availability of necessary goods, but also to producers, ensuring redistribution of profit in their favor. The problems of the functioning of individual instruments of the state pricing policy have been indicated, however, based on statistical data, a generalized conclusion has been made, that they are not critical and do not undermine the country’s economy or the free functioning of the market. The prospects for the use of certain elements of the state price policy of India in the Russian economy have been evaluated.https://upravlenie.guu.ru/jour/article/view/277government regulation of pricesstate pricing policyessential goodsmaximum retail priceconsumer protectioncompetition protectionretailindian economyinflation rate of indiagross domestic product of india
spellingShingle E. A. Santovich
Evaluation of the practice of applying state price regulation methods: Indian experience
Управление
government regulation of prices
state pricing policy
essential goods
maximum retail price
consumer protection
competition protection
retail
indian economy
inflation rate of india
gross domestic product of india
title Evaluation of the practice of applying state price regulation methods: Indian experience
title_full Evaluation of the practice of applying state price regulation methods: Indian experience
title_fullStr Evaluation of the practice of applying state price regulation methods: Indian experience
title_full_unstemmed Evaluation of the practice of applying state price regulation methods: Indian experience
title_short Evaluation of the practice of applying state price regulation methods: Indian experience
title_sort evaluation of the practice of applying state price regulation methods indian experience
topic government regulation of prices
state pricing policy
essential goods
maximum retail price
consumer protection
competition protection
retail
indian economy
inflation rate of india
gross domestic product of india
url https://upravlenie.guu.ru/jour/article/view/277
work_keys_str_mv AT easantovich evaluationofthepracticeofapplyingstatepriceregulationmethodsindianexperience