Financial Daily
from THE HINDU group of publications

Saturday, August 11, 2001





US strategies to combat slowdown -- A `hasten-slowly' policy
THE second quarter of 2000 witnessed a steady decline in business compared to the preceding years, when enormous interest grew around technology stocks. Indeed, the euphoria generated by the stock market was a mere mirage, considering that the apparent b oom triggered by the Internet and e-commerce soon evaporated.

Deteriorating fisc: The revenue angle
ACCORDING to the Controller General of Accounts, the fiscal state of the economy seems to be getting worse and worse. For 2000-01, the fiscal deficit is currently estimated at Rs 1,14,369 crore as against the revised estimates for the same year of Rs 1,1 1,972 crore.

Limit the probes
IT WILL BE welcome if countries sparingly use anti-subsidy investigations, the possibility of which has been mentioned in the Global Trade Protection Report 2000 brought out by the UK law firm, Rowe and Maw. There is merit in the suggestion that countrie s may be more cautious in initiating anti-subsidy inquiries because of a realisation that frequent use of this tool may result in an increasing number of inter-governmental trade conflicts. Such investigations are directed against both governments and ex porting industries. But subsidy being an administered mechanism a sovereign directly gets involved in the dispute and this makes anti-subsidy actions materially different from the other two options.

Votes, not leadership
WITH every passing year, only one fact is becoming clear vis-a-vis the Indian political landscape, namely, that the politicians of today are far more interested in acquiring, and holding on to, power than in providing true political leadership to the peo ple. Admittedly, it is the primary business of politicians to acquire political power because it is only then that they will be able to translate their ideas (which they have placed before the people at the time of elections) into reality, in the process , hopefully, furthering the cause of the society they belong to. But has this been the case, say, during the past decade?

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