Banking and Finance
Debt management the weak link
IN keeping with the tradition of the last one year, RBI has framed another ``structurally oriented'' bi-annual monetary and credit policy which lays out the framework of last year, the measures introduced between the last policy and now, announces a numb er of committees that are examining certain measures and introduces a few positive measures.

More flexible financial system envisaged
THE RBI Governor's April 27 statement is a comprehensive policy and reforms programme package. The stance of monetary policy for 2000-01 will help meet real sector growth induced demand for credit, while guarding against demand-pull inflation. Thus, we w ill continue to see active open market operations. We also expect a further reduction in the cash reserve ratio.

Farm sector dip negates expansion in industry
THE quarterly estimates of real GDP in the last two years link the highs and lows in GDP to agriculture. The quarterly GDP growth rate touched a peak of 8.2 per cent in the fourth quarter of 1998-99, with the growth in agriculture and allied activiti es reaching the highest point at 13.4 per cent in the same quarter.

Exim to become universal bank -- Net unchanged at Rs 165 cr
EXIM Bank of India has decided to convert itself into a univeral bank with special focus on foreign trade. The board has cleared the proposal, which will be sent to the Government for approval, according to Mr. Y. V. Desai, Managing Director. Ideally, Mr . Desai said, the Government should divest over 50 per cent.

Taxation
Botched again
If the Finance Act, 1999 shortchanged the assessees on business reorganisation, Budget 2000 will rub the Revenue on the wrong side, says S. Murlidharan

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