The Hindu Business Line : Tuesday, June 13, 2006

EDITORIAL
Taxing the States
The petro-product tax structure is grotesque, serving neither the poor nor promoting efficient economic outcomes. More

INSIGHT
Rediscovering India
If Amitabh Bachchan drinks a tender coconut in a TV commercial, millions take to the nature's best cool drink. So also if Mahendra Singh Dhoni relishes a glass of buttermilk. Or if Rahul Dravid dons a traditional kurta pyjama, many a youngster ... More

FOREIGN TRADE
India-Japan ties: More hay to make from the rising sun
Given India Inc's newfound confidence in its ability to compete globally, it can look at Japan as much as a market as a source of knowhow and finance. "Incredible India" is finding increasing resonance in Japan, too. More

PETROLEUM
Petrol price hike: Can States soften the blow?
By reducing the Customs duty on crude oil the Centre has shown the way to reduce the burden of the consumer. Some State governments have followed up by reducing the sales tax, but more should do so. More

FINANCIAL MARKETS
What the upsurge in global capital flows indicates?
International capital markets have been very active in the past year, especially in terms of movements in and out of developing countries. In this edition of Macroscan, C. P. Chandrasekhar and Jayati Ghosh examine the recent pat terns and their implications. More

INCOME TAX
IT can make filing I-T returns easy
India, home to the globally respected IT professionals and software companies, should not make it difficult to file income-tax returns, as will happen with the new Form 2F. With some thought, filing returns and paying the tax can be made totally p ainless. Governments must not make complex demands when their own record on deliverables to people is not up to the mark, says BHANOJI RAO. We need a better e-filing system that could encompass the following: Using the BSNL broadband connection, uses the PAN, completes the income-tax return and clicks `file.' More