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FINANCIAL MANAGEMENT BOOK BY KHAN AND JAIN PDF

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History of Ahmedabad

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Then the famine caused fresh distress, and a few years later only a quarter of the space within the walls was inhabited. At this time Aba Salukar, tho Peshwa's Governor, indebted and oppressive, ill-used the people, and embezzled the Gaekwad's revenues.

Advancing against Salukar, Govind Rao Gaekwad defeated him near Shah e Alam and, pursuing him into the citadel, made him prisoner.

This arrangement, renewed for ten years in , continued in force till Though the city was considerably recovered, the famine in devastated its people. When Peshwa appointed Trimbak Dengle as governor on 23 October , the relationship between Gaekwad and Peshwa deteriorated.

Theory and Problems in Financial Management M Y Khan P K Jain

Gaekwad sent an envoy to the Peshwa in Pune to negotiate a dispute regarding revenue collection. The envoy, Gangadhar Shastri, was under British protection. He was murdered, and the Peshwa's minister Trimbak Dengle was suspected of the crime. Under the same treaty the Peshwa agreed, that this revenue from the Ahmedabad farm, should be paid by the Gaekwar to the British as part of the British claims on the Peshwa's revenues.

A few months later 6 November , it was arranged with the Gaekwad that he should, in payment of a subsidiary force, cede to the British the rights he had obtained under the Peshwa's farm, and, in exchange for territory near Baroda, give up his own share in the city of Ahmedabad. The only exception to this transfer was that the Gaekwad was allowed to keep his fort, Gaekwad Haveli , in the south-west corner of the city.

A famine in and the constant power struggle between the Peshwa and the Gaekwad virtually destroyed the city. Many suburbs of the city were deserted and many mansions lay in ruins.

In June , Rann of Kutch earthquake hit the city damaging several monuments and houses in the city. The political stability, establishment of order and the lowering of the taxes, gave a great impetus to trade and the city was for a time busy and prosperous. The population rose from 80, in to about 88, in About the same time a cantonment was established on a site to the north of the city, chosen in by Sir John Malcolm.

These , though some of them years of agricultural depression and dull trade, brought a further increase of population to 90, In the next ten years the state of the city improved. The population rose to about 95, The Hutheesing Jain Temple , completed in , and other buildings of that time show that some of the city merchants were possessed of very great wealth. The public funds available after the walls were finished were made use of for municipal purposes. Streets were widened and thoroughfares watered.

During the following years the improvement continued. Ahmedabad's gold, silk, and carved-wood work again became famous, and its merchants and brokers enjoyed a name for liberality, wealth and enlightenment.

On the arrival of the 86th Regiment in January , the city was disarmed, when 25, arms chiefly matchlocks and swords were surrendered. The municipal government was established in The American Civil War helped the economy of the city. The railway connecting Ahmedabad with Bombay was opened in Ahmedabad grew rapidly, becoming an important center of trade and textile manufacturing.

The city was greatly damaged by floods in and in On 27 January , there was an explosion of gunpowder in a Bohora's shop. This shop, in which were more than pounds of gunpowder, was about ten at night found to be on fire.

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The gunpowder exploded burning five shops and killing eighty-eight people. Two months later, on the night of 24 March , a fire broke out in the chief enclosure, pol, of the Sarangpur area.

The street was very narrow and lined with four-story high houses. It was only with the greatest difficulty that the fire engines could be brought to play on the fire.

Instead of just a few merchants introducing new industrial machinery, as elsewhere in India, in Ahmedabad the mercantile class as a whole supported the new techniques, even though hand spinners and handloom weavers , as well as female spinners in the outlying communities had their traditional operations upset as a result.

They and others were recruited into the new manufacturing plants. The merchant class tended to support the British, thinking the rule provided more security than under the Marathas, lower taxes including lower octroi , and more property rights. Unlike most other areas of India, British rule meant no major upsetting of the community's traditional social system, although the traditional peasant landowning class, the Banias and Patidars , were absorbed into the Jain business community.

The British did not have a financing vacuum to fill in the city, so their presence was limited to administrative and military spheres. Unlike other Indian cities, Ahmedabad lacked a comprador class or dominant, Western-educated middle class.

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Western education was slower to be introduced into the city than in most other Indian cities. There was very little English higher education available in the city and no English-language newspapers there in the 19th century. Ranchhodlal Chhotalal , the nagar Brahmin who founded a spinning and weaving company in the city in , ordered the city to withdraw its support for a high school in and instead finance technical education.

Starting in , the city financed scholarships for technical students. With no Western-oriented academic center in the city, there was no opposing political reaction to Western influences, and the city. One visitor, Mary Carpenter , wrote in after visiting the city, "I found how very far behind Ahmedabad these other places [like Calcutta] were in effort to promote female education among the leading hindus, in emancipation of the ladies from the thraldom imposed by custom; and in self-effort for improvement on their own part.

In , Mahatma Gandhi came from South Africa and established two ashrams in the city, the Kochrab Ashram near Paldi in and the Satyagraha Ashram on the banks of Sabarmati in The latter was later called Harijan Ashram or Sabarmati Ashram. He started the salt satyagraha in He and many followers marched from his ashram to the coastal village of Dandi, Gujarat , to protest against the British imposing a tax on salt.

Before he left the ashram, he vowed not to return to the ashram until India became independent. Post independence — [ edit ] By , Ahmedabad had become a metropolis with a population of slightly under half a million people, with classical and colonial European-style buildings lining the city's thoroughfares. After independence, Ahmedabad became a provincial town of Bombay state.

On 1 May , Ahmedabad became a state capital as a result of the bifurcation of the state of Bombay into two states of Maharashtra and Gujarat following Mahagujarat Movement. During this period, a large number of educational and research institutions were founded in the city, making it a centre of higher education , science and technology.

At that time the city was seen as an economic role model around the world. Many countries sought to emulate India's economic planning strategy and one of them, South Korea , copied the city's second "Five-Year Plan" and the World Financial Center in Seoul is designed and modelled after Ahmedabad.

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Ahmedabad had both a municipal corporation and the Ahmedabad Divisional Council in the s, which developed schools, colleges, roads, municipal gardens, and parks. The Ahmedabad Divisional Council had working committees for education, roads, and residential development and planning.

In the late s, the capital shifted to the newly built, well planned city of Gandhinagar.