EDITORIAL
Good in principle
THE SUPREME COURT judgement declaring software sold off-the-shelf as `goods' and upholding the levy of sales tax is right in principle and brings an element of certainty to commodity taxation of software for the first time. Upholding the Andhra ... More

TELECOMMUNICATIONS
Telecom: Higher FDI cap, no guarantee to better service
Large investments are indeed required in the telecom sector. However, the contention that such investments would materialise only by increasing the FDI cap from 49 per cent to 74 per cent is suspect. More

ECONOMY
The new structure of global balances
Developing countries, especially the so-called "emerging markets", have become net exporters of capital since 2000. This reverses the conventional scenario where these countries were the targets of external finance offered by recycled surpluses from the developed countries. C. P. Chandrasekhar and Jayati Ghosh examine the determinants and implications of this reversal. More

Chile: Breaking the market myth
CHILE has a market-oriented economy characterised by a high level of foreign trade. After a decade of highly impressive growth rates, Chile experienced a moderate recession in 1999 brought on by the global economic ... More

PUBLIC POLICY NOTE
Investment Commission — Gameplan to attract foreign funds
To help realise the Tenth Plan growth target of 8 per cent and to make the country attractive for investors, there is the need to constitute the Investment Commission. The panel will recommend to the government pro-active policies that would create t he right environment to attract FDI. Also, it would strive to reduce the gap between proposals and projects under implementation and quicken the pace of investments, says Bhanoji Rao. More