The Hindu Business Line : Thursday, May 30, 2002

Uncertain oil economy
THE OIL SCENE will never be the same again with the scrapping of the administered pricing mechanism, the disinvestment of oil PSUs, and the `deregulation' of private refining companies (that is, freeing their entry into the lucrative ... More

ECONOMY

Prepaying external debt: Quite necessary
While it is true that the prepayment of official external debt would raise the fiscal deficit, one has to consider the economic consequences. When the Government borrows foreign exchange from the central bank and remits it to its creditors, there is no effect on money supply. The RBI had earlier bought the forex from the market, releasing equivalent rupee resources and adding to the money supply. When the foreign exchange is released to the Government there is no withdrawal of the rupee from the economy. Thus it has a neutral effect on money supply. More

Why India lags in wealth generation
WEALTH creation — legally and ethically, that is — is an essential objective of any country. It not only benefits the economy but also society as a whole. Recently, the Securities and Exchange Board of India (SEBI) chief, Mr G. N. ... More

ACCOUNTANCY

The GAAPing holes
AT A May 14, 2002, hearing of a House Financial Services subcommittee on the issue of `Corporate Accounting Practices: Is There a Credibility GAAP?,' lawmakers were briefed on a number of topics, including five areas in which generally accepted ... More

On the chopping block
AT LEAST at two places, the Companies Act, 1956 is nebulous when it deals with auditor. Proposed new incumbent playing truant: An auditor holds office from conclusion of the annual general meeting in which he is appointed till the ... More

Gulping guilt
IT WAS one of those routine occasions when I usually run into CAs and when the chat rambles round where you did your articles, when you qualified, plus a fair amount of namedropping. "I can't tell you where I did my term," he said with a gulp, ... More

WATER MANAGEMENT

Water privatisation -- Torrent of trouble
"How is it that water which is so useful that life is impossible without it, has such a low price; while diamonds, which are quite unnecessary, have such a high price?" — Adam Smith THE FACT that 1.1 billion people, ... More

LETTERS

Food subsidies

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$5-billion dream is realisable: Premji

`Strategic partner free to use reserves of divested PSUs'

Foreign shareholding in India Inc ebbs

Prepaying external debt: Quite necessary

Why India lags in wealth generation

Water privatisation -- Torrent of trouble

In Depth
Gender Justice

Simple Economics

Guide to derivatives

Looking back
May. 19-May. 25
New crop of farm champions

East Timor: The price of independence

Abdul Ghani Lone: A moderate, rational voice silenced