Financial Daily
from THE HINDU group of publications

Tuesday, May 30, 2000





Looking back at India's trade policy
THE EXTENT of openness of an economy is judged by the permissiveness of its trade policies. An economy becomes more open with greater liberalisation of exports and imports. The openness is also an indicator of the extent of global integration of the country. Opening up is associated with progressive dilution of protection, as tariff and non-tariff restrictions are withdrawn gradually. Freer movement of goods and services creates greater scope for international trade to shape the growth of th e economy.

Globalisation, e-com and Sankhya Vahini
Globalisation is a reality today, and the country has to prepare the people to meet the challenges of the future. The Government should not get euphoric about such New Age projects as Sankhya Vahini whose range and possibilities tend to obscu re the other priorities. And more than anything else, we must get back to a saner `mindset' about the country's `development', says Arun Ghosh.

The equity factor in education policy
THERE is a general acceptance of the fact that education is the best way to empower the poor and the weaker sections. The growth of the middle-class -- around 160 millions now -- is a testimony to the education policy pursued in independent India, w hich opened the gates of learning to the millions of underprivileged.

Ordnance Factories: Whither self-reliance?
TWO interesting revelations were made by the Defence Minister, Mr. George Fernandes, in reply to questions in the last session of Parliament. One related to the purchase, by way of import, of dud ammunition, originally of Russian origin, from a fir m based in Hong Kong.

China's changing status
OVER THE PAST seven months, three events have occurred which could have a major impact on the way the Chinese economy develops, with a possible fallout on the domestic politics of the Communist nation. The first time these events took pl ace last November and barely 10 days ago respectively -- involving the US and the European Union -- and have cleared the way for China's entry into the WTO. The third event involves Sino-American trade relations, and specifically marks a brea k with the past vis-a-vis trade (and perhaps political) ties between the two countries. Indeed, the passage of the legislation in the House of Representatives on granting permanent normal trade relations (PNTR) status to China has been de scribed by the President, Mr. Bill Clinton, himself as ``an historic step towards continued prosperity in America, reform in China and peace in the world''.

Public projects -- The need for tighter monitoring
AFTER GOING through the Ministry of Statistics and Programme Implementation's (MoSPI) annual report on project monitoring for 1999-2000, the Standing Committee of Finance (SCoF) reportedly `castigated' the Ministry for its failure to moni tor projects because of which the government lost huge sums of money through cost over-runs.

Illusions of an MBA
A GREAT feeling gets into him on getting a seat in a management institute. The `MBA', as he calls himself now, has every reason to pat himself on the back as he has achieved this against heavy odds. Of the thousands taking the exam for a couple of h undred seats, and to emerge a winner in such a situation is indeed commendable.

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