The Hindu Business Line : Saturday, September 11, 2004

EDITORIAL
SMILE, major changes ahead
FAR-REACHING CHANGES in the primary market procedures are likely if the first report of the Securities Market Infrastructure Leveraging Expert Task Force (SMILE) finds even partial acceptance. The report, now put on the SEBI Web site for a wider ... More

TAXATION
Is there fish in the outsource pond?
Mohan R. Lavi on why BPO taxation has to be handled with care More

The worry about arrears
T. N. Pandey on the problem of mounting tax arrears More

Divided over depreciation
Finance Bill 2004 ignores the issue of streamlining depreciation rates, says T. C. A. Ramanujam More

Explosive fizzled out as the fuse was too long
AN `EARTH-SHATTERING' case that travelled right up to the Supreme Court recently was Commissioner of Central Excise, Jaipur vs J. K. Udaipur Udyog Ltd. The company had a mining lease granted by the Rajasthan ... More

EXIM POLICY
New Foreign Trade Policy — Viewing trade as an engine of growth
The New Foreign Trade Policy aims to double India's percentage share of global merchandise trade by 2009 and spur economic growth with a thrust to employment generation. While trying to integrate trade policy with economic development, the NFTP makes an effort to change the mindset and view trade as an engine of growth by emulating the examples of Japan and China, says S. D. Naik. More

BOOKS
Unsuccessful societies have corrupt elite who suck value out of system
SOME straight and simple questions can be frightening, such as what wives and auditors ask. Kishore Mahbubani titles his book with one such: Can Asians Think? The new edition of the book, from Penguin ... More

CARTOON
Sticklish issues
More

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