Accountancy
Lifeline
DOZENS of CAs had come as a group and were banging at my door desperately. As the president, I had to listen to them and so let them in, for I guessed they could be carrying the story of how a council colleague of mine was bungling in his constituency, o
r about the new alliances that were getting formed for the coming elections.
King without a crown
The post of chairman has no statutory recognition under the Companies Act, though there is a craze for it as a status symbol, says N. R. Moorthy.
Agriculture
Impervious kisans
THE poor turnout of kisans from the four southern States at a meeting organised by the All India Kisan Sabha to chalk out an action plan against the fall in the prices of coconut and other agricultural products, indicates their imperviousness towards the
whole affair organised with political aims.
National Agricultural Policy: Food for growth
AGRICULTURAL development is vital to the Indian economy, especially in providing food security. If the agriculture growth rate is raised to 4-5 per cent per annum, it will not only ensure food and nutritional security but also provide employment on a sig
nificant scale, substantially raised farming incomes and make foreign exchange earnings possible through farm product exports.
Editorial
Hardly bankable
THE MOVE TO link bank exposures to advances rather than incremental deposits of the previous year can expand substantially the money the banking sector can deploy in the capital market. While the corporate sector and the broking community have been seeki
ng higher funds flow from banks to the market, it may not be the best thing for the banking sector. The fundamentals of most banks, in terms of asset quality, earnings and capital adequacy, suggest the need for consolidation and strengthening the balance
-sheet, rather than enhancing equity exposure. The equity exposure of the banking system -- not even of the public sector banks, including the SBI -- has not reached even the current limit of 5 per cent of incremental deposits. So, unless there is subtle
suasion (perhaps this latest recommendation is of this genre) from the RBI, it is unlikely that the banks would pump more funds into equity.
Foreign Trade
Indo-US relations: On its knees?
MR. TARUN DAS of the CII and Dr. Amit Mitra of Ficci are mighty optimistic about Indo-American trade relations. ``The next 10 years of Indo-American trade relations,'' Mr. Das predicted on STAR News, ``will make the last 10 years seem like a passenger tr
ain.''
Forex
RBI confronts the inconsistent twins
There is no single route to defend a currency in trouble. While engaging the market through intervention and interest rate hike, the RBI has found itself sinking into a treacherous quicksand.
Power
MoEF deadline on ash content -- Blending thermal coal the answer?
A STUDY commissioned by the World Bank in 1998 estimated that, at present levels, by 2014-15, India's power sector would be producing roughly three times the ash it was producing and the ash disposal facilities around power plants would require land in e
xcess of 1,000 sq. km. It also cautioned that other environmental impacts would be adverse.
