The Hindu Business Line : Saturday, May 10, 2003

'Commitment' index
THE new Commitment to Development Index (CDI) — prepared by the Washington-based Centre for Global Development and Foreign Policy magazine — should not be taken as the last word on the subject. Even so, it is of some interest ... More

INVESTMENTS

Are hedge funds suitable for smaller investors?
Hedge funds are unlike regular stock mutual funds. Their risk potential is much higher. They are appropriate for the truly wealthy who can afford to write off large chunks of their investments. Controlling the hedge fund industry to protect smaller i nvestors is thus a challenge indeed for the SEC Chairman, Mr William Donaldson. More

EDITORIAL

Diluted responsibility
BY INSTINCT POLITICIANS are averse to fiscal restraint on use of public funds and the diluted version of the Fiscal Responsibility and Management Bill passed by Parliament makes the point abundantly. The Finance Minister, Mr Jaswant Singh, could ... More

TELECOMMUNICATIONS

Miscommunications from the Minister
ARUN SHOURIE has been the odd man out there among politicians. They do not understand what he says, nor is he able to make sense of their grievances. Having announced a tariff plan that is baffling everybody by its sheer complexity, he is dumbly ... More

TAXATION

There could be stampede in the `author club'
THE Indian tax code is an umbrella type of legislation. It seeks to, among other things, promote savings and investment, help industries in backward area, exempt new industrial undertaking and encourage exports. And somewhere in the Government, ... More

Say no further
Banning confessions in search proceedings is a refreshing step, says T. N. Pandey More

The transfer travails
A. Pradeep on the implications of transfer pricing regulations on intangibles More

Enlighten the employers
S. Murlidharan on the nitty-gritty of quantifying tax on perks More

Fiction in mutant liabilities
On what constitutes `payment' under Section 43B has become an issue of unnecessary litigation, says R. Anand More

CREDIT POLICY

Soft rate obsession — Not in everybody's interest
The steep decline in the deposit rates over the past five years has hurt savers, particularly those heavily dependent on interest income. Moreover, the RBI's undue obsession with soft interest rates gives the impression that it is to facilitate the Government's borrowing programme at the lowest possible cost rather than ensuring adequate credit delivery to productive sectors of the economy, says S. D. Naik More

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