Economy
A risky mix brewing?
What if China carries out its war threat against Taiwan, or OPEC does not raise crude production? Admitting that both are remote possibilities, V. Anantha-Nageswaran still examines the threats considering the enormous impact they can have
on the global economy.
Oil economy: End the APM
THE Finance Minister, Mr. Yashwant Sinha, received both bouquets and brickbats for the Budget. But he cannot afford to relax so long as he has not unravelled the problems of oil price increases. His Budget has not taken into account the full implications
of the higher prices of crude, which went up from $11 to $29 per barrel in the last year.
Editorial
Nothing new
THE RESERVE BANK of India's ``modified guidelines'' on entry of banks into the insurance sector are pretty much a repeat of the draft it released a few months back. Even on an issue where it appears to demonstrate a certain sensitivity to public reaction
, in general, and the banking industry, in particular, the RBI has merely softened the language of the draft, implying a more liberal norm, but sticking to its position. The draft had spoken of the applicant-bank's record of managing loan assets that is
at least one percentage point superior to that of the industry average. In the face of opposition from the public sector banks _ which would have been shut out of this sector at least in the crucial initial years _ it has not liberalised its stipulation
on the non-performing asset record of the bank. It has merely said that the level of NPA should be `reasonable'. This is most inexplicable.
Environment
Clinton visit and the US' green agenda
``We are looking to build, to lay a foundation on this trip of future high-level exchanges. I think there is need for regular meetings between the President and the Indian Prime Minister. We think there should be an architecture established, that would i
nclude ministerial meetings, meetings between Foreign Ministers, who believe we should pursue a partnership with India on clean energy and environment.
Management
`Organisation', key to project success
ONE of the main reasons for cost and times overruns in almost all mega projects in India is poor organisation. Even today, most public sector enterprises (PSEs) follow the conventional forms of organisation _ functional, divisional and matrix. All these
have in-built disadvantages. Moreover, the top management of PSEs generally sit in ivory towers, isolating themselves from the agencies involved in the implementation of the projects. The lack of cohesiveness in working and red-tape are also to blame for
the overruns.
Miscellaneous
Comeback kid
THAT is the label that Americans, part appreciatively, part sneeringly, have slapped on Mr. Bill Clinton. It denotes his capacity for political survival against odds, and bouncing back to his command post just when everybody had taken him to be down in t
he dumps. The skill manifested itself pretty early in life when he overcame the hardships and disabilities of childhood to become a Rhodes scholar and subsequently the Governor of Arkansas.
Politics
Are the PM's days numbered?
NO, THEY are not as things stand now. Not because the pressures on Mr. Atal Bihari Vajpayee have not increased ever since the new chief of the Rashtriya Swayamsevak Sangh, Mr. K. S. Sudarshan, assumed office on March 10, but because a man like the presen
t Prime Minister does not give up office easily, even when differences with the Sangh (given the BJP-Sangh relationship) are publicised to the world by the Sangh chief himself.
