Issue: JUNE 2017
 
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Cover Story 
The Youth of a Nation are the trustees of posterity. While most of the developed world is moving towards a nation of ageing population, India is poised ...
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Lead Article

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Articles
  Job Creation: Challenges & Way Forward by Alakh N Sharma , Balwant Singh Mehta
  The second lead article is about the challenges of job creation. In this article authors have talked about the government initiatives.
  Making a Nation of Job Creators’ by Shri Saurabh Sanyal and Ranjeet Mehta
  The article suggested fostering entrepreneurship and a fruitful culture of innovation in the country. It will help making India the hub of innovation, design and Start-ups.
  Bringing Harmony between Body and Mind by Ishwara N Acharya & Rajiv Rastogi
  3rd International Yoga Day would be celebrated on 21 June 2017. As Yoga has been accepted as non-invasive mode of treatment in the management of non-communicable diseases
  GST–The Game Changer by D S Mallik
  Introduction of GST would instantly spur economic growth and can potentially lead to additional GDP
Growth Trends in Services Sector
M Saravanan
B Chandrasekaran

Global economy is still in doldrums as many battered developed countries are still worried about a double-dip possibility. The sub-prime crisis that first hit the U.S economy spread globally to weaken many developed and emerging economies. Among nations that were less affected, India looks prominent, thanks to its highly resilient domestic economy characterized by high saving and investment rates and a dynamic service sector. Even in 2008-09 when the world financial system was stumbling in the aftermath of the global financial crisis, India’s Gross Domestic Product (GDP) growth was relatively lower at 6.8 percent, propped up by service sector that grew at 10.1 percent, contributing 56.4 percent of the country’s GDP. In the same year, service sector’s subcomponents, “finance, insurance, real estate and business services” and “community and personal services” expanded living12.5 percent and 12.7 percent respectively. According to the Prime Minister’s Economic Advisory Council (EAC), the growth rate of service sector in the last few years (2007-2011) has been a robust 10 percent. Structural Changes Among major economies, India is the fastest growing economies in the world after China. However, one aspect of economic growth that sets India apart is the way in which the structural changes have taken place. General economic growth theories and history support the hypothesis that when an economy develops, it transforms from being an agrarian into an industrial economy and continues to get industrialized till it reaches a stage of development when its share of industry sector declines and its share of services increases.

 
 
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Do you know? : What is Forensic Auditing
Forensic auditing refers to the auditing with the main aim to employ accounting techniques and methods to gather evidence to investigate the crimes on financial front such as theft, fraud etc.
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