The Government Is Helping Create A Privileged Class!’ Professor C.N. Vakil, eminent economist, formerly Director, School of Economics and Sociology, University of Bombay, and Director, Central Board, Reserve Bank of India: “The Janata government was suddenly thrust into power, and there was hardly any coherence between the various constituents of the Party. So decisions were…
Poor Manmohan Singh is caught between the Pros and the Cons. The Pros in the Opposition are telling the prime minister, who has never seemed sullied by money politics, that he should be resigning. The Congress, led by A. Raja, is telling him that he is allegedly complicit in the 2G scandal. The sad part…
7 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 7 – The Philippine government will issue treasury bills and notes totalling 29.8 billion pesos in 1988 and depend mainly on domestic resources to finance its projected budget deficit of 27.1 billion pesos, Finance Undersecretary Victor Macalincag said. The government planned to float…
8 March 1988 Reuters News English (c) 1988 Reuters Limited MANILA, March 8, Reuter – The Philippines will have a 1989 deficit of 28.5 billion pesos on a projected budget of 190 billion, Budget Secretary Guillermo Carague said. He told Reuters this compares with a projected deficit of 27.1 billion pesos for the 1988 budget…
In a spirited panel discussion moderated by Business Today editor Chaitanya Kalbag, Yashwant Sinha, MP and former finance minister, M. Damodaran, former SEBI chairman, Satya Poddar, Partner, Ernst & Young, Samiran Chakraborty, Regional Head of Research, Standard Chartered Bank and Nilesh Shah, President, Corporate Finance, Axis Bank, shared their views. Edited excerpts Chaitanya Kalbag: All…
Despite the crisis, a clear message must be sent to the investor community that India is open for business. There was an initial spurt of excitement after the new Reserve Bank of India governor was announced. Professor (Raghuram) Rajan is obviously highly accomplished. But there is only a very limited amount the central bank can…
The economy is whirling around in a populist spiral Pranab Mukherjee is starting to look worryingly like a feckless heir squandering his generous inheritance while his fretful guardian in the person of Duvvuri Subbarao tries to board up the door and keep the wolves at bay with a nail here and a nail there. The…
Pranab Mukherjee’s first budget, at first glance so redolent of status quo, is peppered with little booby traps. Two paragraphs in his speech have caused heartburn amidst tyre manufacturers—who are dismayed about a stiff excise hike—and soft drink bottlers, who are cut up because Mukherjee has cracked down on soft drink franchises’ excise exemptions. The…