The Hindu Business Line : Friday, April 29, 2005

Importance of India for China
CHINA is a global economic power-house. Its contribution to the world economy was highest in 2003. It has become especially crucial for the Japanese economy, importing so heavily as it does from that country. China has become the engine, ... More

EDITORIAL

Opportunity missed
THE RESERVE BANK of India Governor, Dr Yaga Venugopal Reddy, could have done better in the slack season Credit Policy than marking up the reverse repo rate (the return banks earn on funds parked with the RBI against securities from the central ... More

CREDIT POLICY

Banks asked to refocus on deposit mobilisation
THE Reserve Bank of India (RBI) has released its Annual Monetary and Credit Policy Statement for 2005-06. It is on expected lines except for the hike in the reverse repo rate. Would it result in higher deposit and lending rates? Not likely. At ... More

Right emphasis on growth and liquidity
The Credit Policy Statement for 2005-06 handles well the conflicting objectives of growth and price stability with an emphasis on creating an enabling environment of benign interest rates. Summing up macro-economic developments competently and reflec tive of the substantial improvement in the country's credit climate, the Policy will, it is hoped, provide the appropriate liquidity at reasonable rates says S. Venkitaramanan. More

More inward-looking than warranted
IN ITS Annual Monetary Policy Statement for 2005-06, the Reserve Bank of India has recognised the importance of a number of reform-related issues. However, the central bank somehow seems to have held itself back from full delivery on these ... More

A slick balancing act
THE Credit and Monetary Policy comes in the backdrop of high oil prices, unprecedented growth in non-farm credit and a massive government borrowings programme. However, economic conditions continue to remain strong with robust growth in ... More

Reflects buoyancy in economy
CONDITIONS of stability in the fiscal system help sustain the momentum of growth in the economy. The Monetary Policy Statement not only tries to promote stability but also provides an impetus to corporates to make their presence felt ... More

Priority for priority sector
THE Slack Season Monetary Policy for 2005-06 unveiled by the Reserve Bank of India strongly reflects the current developments in the local and global financial markets. As in the other parts of the globe, the major worries before Indian ... More

Govt borrowing may cost more
THE RBI has been proactive in dealing with inflationary expectations, by increasing the reverse repo rate right away. Many market participants were expecting such a rate hike, but not in this Credit Policy. The uncertainty, at least as of ... More

The RBI's shifting focus
THE RBI's Monetary Policy stance has changed from the Mid-Term Review of October 2004. In the latest review, price stability had emerged as the crucial determinant of its monetary policy stance. The conduct of monetary management in 2004-05 ... More

PRIVACY

Stinging remedy
THE ethics and legality of sting operations mounted by law enforcement agencies or the media have remained hazy despite their being the subject of public debate. The exposes by Tehelka of corruption in high places over defence deals and ... More

LETTERS

Reliance Industries

Cash transaction tax

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