Accountancy
Presumptuously futuristic
ACCOUNTING Standard (AS) 20 `Earnings per share' issued by the Council of the Institute of Chartered Accountants of India is mandatory in that non-compliance therewith would invite auditor's comments in his report to the members. It applies to accounting
statements relating to periods commencing on or after April 1, 2001.
Summer special
DOES it appear to you that ``we seem to be protesting at the wrong time about the wrong things in the wrong way, and in the process muddying the externally projected image of the country''? If yes, ``it is fortunate that there is somewhere a basic resili
ence in the economic structure of the country which allows it, in a very large measure, to weather the vagaries of democracy run amok.''
Economy
Private investments/FDI in Defence -- Much-needed fodder for the cannon
THE CABINET'S nod to allow private sector participation and foreign direct investment up to 26 per cent has predictably drawn up battle lines between gleeful military and business experts and the jaded Left political parties and the trade union organisat
ions. Economists and governments see FDI as the global market's seal of approval on a country's policies and prospects and as a force in developing countries for far-reaching economic change. FDI is also seen as encompassing capital, contacts, and manage
rial and technological knowledge -- the cutting edge of globalisation and therefore welcome considering that in terms of Defence technologies, the country has a long way to go. It is another matter whether people will queue up to invest in India. The inf
low of elusive Defence knowhow cannot be ensured until the US sanctions are lifted. Perhaps, this is a signal to mollify Washington to dismantle its sanctions against India, although it can be argued that the US, and other advanced nations, may not be wi
lling to allow India to emerge as a competitor in a shrinking global market.
Editorial
IA's woes
EARLY IN APRIL, Indian Airlines officials were quoted as saying that ``there is a growth in traffic whenever airlines add capacity in the market''.
Miscellaneous
Children of a lesser God?
``To catch them young'' is to spot talented young kids, especially in sports. In Andhra Pradesh these days, the young seems to have gone down to infants, and the game for which the talent is being identified in some quarters is rather bizarre.
Politics
Tamil Nadu poll outcome -- Implications for good governance
THERE will always be different sections of opinion which will be upset or upbeat in varying degrees over the outcome of any election. One section will comprise confirmed political activists who will be displaying predictable reactions depending on which
party or alliance or front they favour or abhor for purely partisan reasons. A second section will consist of vote banks or interest groups, not necessarily committed to a party, but would have preferred one party or the other in expectation of its fulfi
lling their claims or demands. There will be the worldly wise and practical-minded parts of the electorate, not necessarily highly educated or with any stakes of their own, which, having exercised their franchise to the best of their understanding, may b
e prepared to accept the outcome in a spirit of realism.
TN mandate: The wake-up call?
A NATION that bristles at the Tehelka corruption charges elects a person who was not even supposed to be eligible for the polls thanks to her conviction. Q&A asked the question that must have been on a lot of people's minds this week: ``A politician conv
icted of corruption effectively debarred from taking part ... how did this happen?''
Telecommunications
Networking the right way
ONE OF the most progressive, non-controversial, technology-neutral, competition-promoting and people-friendly policies the Government has promulgated is the one on the Internet. Immediately after assuming charge at the Centre in 1998, the BJP-led Nationa
l Democratic Alliance coalition government constituted a National Task Force on information technology which crafted an Internet policy as part of the national IT policy.
