Financial Daily from THE HINDU group of publications
Saturday, October 19, 2002
Markets (Oct. 18)
BL 2501044.68 (+5)
BSE Sensex3009.76 (+3.62)
S&P CNX Nifty971.65 (-1.65)
Dollar (Buy/Sell)48.36/48.49
Gold Std (10 gm)5150

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Unwarranted pessimism
APPARENTLY, THE CMIE (Centre for Monitoring Indian Economy) is being too pessimistic, too early in projecting a low, 3.1 per cent GDP growth for the current year. Also, there are reasons to doubt its basic assumption of farm production dipping in ... More


Corporation tax receipts — How much comes from private sector?
Over the last five years, various factors have conspired to drag down growth and profitability in the private corporate sector, with the inevitable fallout that its contribution to corporation tax receipts has dipped considerably. It is, in fact, th e public sector that now accounts for the bulk of the tax receipts. Why, then, the continued mollycoddling of the former, asks P. R. Brahmananda. More

How real is the festival cheer?
OCTOBER is a month with too many reds in it. There is a procession of festivals, and, for a change, it looks as if celebrations would never end. Every gala has a history; and a common thread for these, from an economic perspective, is to give a ... More


Environment protection is big business
Close to a year after the WTO Ministerial at Doha, it is becoming clear that it is the industrialised nations that will gain the most from the new terms of international trade. In seeking to push their environmental goods and services in developing m arkets, the developed countries are even dictating the definition of what constitutes such goods. More


Pulling in all directions
MR Atal Bihari Vajpayee may be just the right man to head the NDA coalition Government at the Centre, but there is little doubt that he is presiding over a motley group of Ministers, each straining at the leash to go his own way. This view of the ... More


The conversion fiasco
T. C. A. Ramanujam on a case where a survey was converted into search and messed up More

VATman at the door
S. Sridharan on the need for readiness to usher in value-added tax More

Works contract continues to be in the works
Joseph Prabakar on the various issues relating to works contract under State sales tax law More

Carbon tax to cut CO{-2} emissions
STATISTICS show that New Zealand produces 70-90 million tonnes of carbon dioxide a year. About half of its greenhouse gases come from the methane and carbon dioxide emissions of more than 50 million sheep and cattle, whose products account for ... More

Of added value
THE second revised edition of S. Gurumurthi's Value-added Tax Across the World provides a cross-country comparison of VAT. A few excerpts:

  • There have been several attempts to introduce VAT in the US, which till today has preferred to ... More
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