The Hindu Business Line : Saturday, November 18, 2006

EDITORIAL
Bioethanol: For a mature policy
Instead of ad hoc responses to emerging situations, the country's biofuel policy deserves a holistic approach and adequate stakeholder consultation. More

TAXATION
From clamped bed to what's born in mud
"A ventilator is made, a cord is hung, and a lady who sleeps in the bed dies. Does not that strike you?" "I cannot as yet see any connection." "Did you observe anything very peculiar about that ... More

An amendment that can boost M&A
Revaluation of assets before merger will necessitate payment of huge stamp duties. That will mean coaxing various State governments to pass necessary laws for exempting the merged entity from stamp duty. Section 72, originally contemplated for rehabilitation of sick industrial units, has undergone a metamorphosis. More

Innovative instruments to raise banking capital
Known as hybrid instruments, these have characteristics of both equity and debt capital. More

Revenue shoots itself in the foot
Rewarding employees through performance incentives is becoming de rigueur in the corporate sector, especially at the medium and top echelons. While this is a cash salary that hinges on individual, group and company performance, which ... More

HOUSING FINANCE
Remembering Hasmukhbhai T. Parekh — The man who gave people a home
Adopting a management style "marked by large-heartedness and human considerations," Hasmukhbhai T. Parekh made ICICI and HDFC "the springboard for the country's development in new areas of social progress." On the 12th anniversary of his passing, R. M. LALA, pays tribute to the person who helped lakhs of Indians realise their dreams of owning a home. More

PEOPLE
`Economics is a fascinating discipline'
When Milton Friedman came to India as an adviser in 1955, he observed that "the great untapped resource of technical and scientific knowledge available to India" was "the economic equivalent of the untapped continent available to the US 150 years ago ." He tried in vain, however, to convince India's decision-makers about the virtues of free markets. More

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