Agriculture
Forward Markets Commission -- Taking the produce economy forward
When forward trading in certain items is banned, it is sought to be justified on grounds of its intrinsic undesirability. When it is re-introduced or extended, its role as an essential instrument of mediation between the consumer and producer and its gre
at potential for eliminating wide fluctuations are extolled. -- N. S. Jagannathan, economist and economic editor, 1985
Economy
Why the emperor needs no clothes
EVERY society has its own myths about the emperor's new clothes. In reality, however, everybody always already knows that the emperor is naked; in fact, everybody knows that the emperor needs no clothes.
Labour laws -- Amend with caution
MAJOR trade unions are agitated with what they call the Government's anti-labour policies. At the 37th Indian Labour Conference in the Capital, recently, the Prime Minister, Mr Atal Bihari Vajpayee, had spoken only about the problems faced by the capital
ist lobby, forgetting to mention the labour unions' constraints. And in an attempt to corner the Government, the trade unions' strategy seems to be to push the BMS -- the BJP's labour outfit -- to the forefront of the protest. The other trade unions are
also on the warpath alleging that by changing the labour laws, the Government wants to make the labour subservient to the capitalist lobby.
Core sector projects -- Rev up the debt market
WHEN Mr T. V. Rao, treasury manager of a financial institution, charts out the FI's investment line up for the day, putting money in India's infrastructure projects is an option he ponders on. Under the operational guidelines, banks can sanction term loa
ns for technically-feasible and financially-viable projects -- both under the private and public sectors. But are there enough infrastructure projects happening in India for banks to invest?
Editorial
Scams unlimited
IN ABOUT FIVE months since Budget day the financial system has driven the Indian middle-class into a huge sulk with stealth news every morning diminishing wallet value. On Budget day, the Sensex leaped some 180 points and dropped the next day by the same
measure. Since then, investors have been drowning in a deluge of scams: Ketan Parekh, Madhavpura Co-op., Bank of India, privately-owned Global Trust Bank, IFCI, Dena Bank, UTI, LIC and now Tata Finance.
Politics
Face-lift
FOR at least one booming development in the US public life, the credit squarely belongs to politicians: Spawning a novel line of consultancy business all set to thrive and dominate the US political landscape in the future. Round the world, ill-groomed po
liticians conducting themselves in an uncouth manner or committing gaffes are a familiar sight. Also, there are many who put off people by their arrogance and aloofness. Conversely, there are some who have a smooth sailing whether as candidates for elect
ions, or as elected representatives or in positions of power.
Omens from Katunayake
THE omens from Katunayake bode ill for the ultimate success of the Sri Lankan Armed Forces' counter-insurgency operations against the LTTE and even for the continued unity and territorial integrity of Sri Lanka.
