The Hindu Business Line : Saturday, September 09, 2006

ECONOMY
Why globalisation is in trouble - II
Globalisation has spurred inequality — both among citizens in the wealthiest countries as well as among developing nations. BRANCO MILANOVIC explores the growing resentment, as only a few poor countries adjust to globalisation. China and India compete globally, and yet only a fraction of their citizens prosper. Forty of the poorest nations, many in Africa, have had zero growth during the past 20 years. For the world's poor, globalisation has resulted in a loss of self-respect and hope. Ironically, the wealthiest people benefit from the source of cheap labour, and policies of the West reinforce a growing divide between the rich and the poor. More

INFRASTRUCTURE
Seeking saviours
I wonder what Mr Chandrababu Naidu is doing these days. He looms in my thoughts every time I wade across slushy cratered roads on my long trudge to the Internet centre, if you could call it that. All I can do ... More

TAXATION
If only tax disputes had the pace of turnkey projects
Hindustan Petroleum Corporation, Oil and Natural Gas Corporation, Godavari Fertilisers and Petrochemicals, Petronet LNG and Essar Oil. These are listed first as `Current Major Assignments' of Toyo Engineering India Ltd (TEIL) on ... More

More than for form's sake
Form 3CD for tax audit was recently amended to keep pace with the changes in the income-tax law and to make things a little less irksome for the tax-payer. More

Is share premium `capital employed'?
Interpreting `capital employed' for purposes of deduction and amortisation More

Why take advantage of an assessee's ignorance
Unclaimed relief can be sought only through a revised return and not through a letter or representation, rules Supreme Court. More

BOOKS
From `absolute advantage' to `Yunus, Muhammad'
The pillars of globalisation include `the free cross-border movements of goods and services, foreign direct investment, financial capital, labour and technology.' At a broader level, globalisation `also embraces international flows of ideas, politica l and social values, language, and other aspects of culture.' More

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