Articles by Arun Ghosh

Arun Ghosh Instead of empowering the states and the local authorities, the budget for 1992-93 seeks to leave the direction of the economy to the organised financial institutions and to foreign capital primarily and to large and medium industries to some extent. The budget is a continuation of the attempt to 'globalise' the economy, no matter that such globalisation may benefit only some 10 per cent of the population at best.

In the last 38 years since the concepts of non-alignment and economic co-operation among the developing countries were first mooted at Bandung in 1954, much water has flowed under the bridge; and in the last eight months in particular there has occurred in India a very perceptible drift away from the ideals and concepts once propounded by Jawaharlal Nehru. The speeches made at Caracas in last November by Robert Mugabe of Zimbabwe, Mohamad Mahathir of Malaysia and Narasimha Rao on behalf of India were most revealing in this context.

A Glimpse at a Public Sector Enterprise THE 'restructuring' of the public sector is today high on the agenda of the government of India, For a change, let us take a look at the functioning of a 'profitable' public sector enterprise (PSE), and see if we can draw any lessons from the modus operandi of the profitable unit, so that we can decide on how one can set about handling PSEs.

The conditions imposed by the IMF on the government of India, especially those set out in paragraphs 28 to 33 of the Memorandum of Understanding with the IMF laid before parliament by the finance minister, go far beyond those normally imposed by the IMF for an 'upper tranche' stand-by credit. Adherence to these conditions will drag the country deeper into the morass of dependence on external support.

Political Economy of Structural Readjustment Arun Ghosh What precisely is the nature of the structural adjustment being envisaged, for which we are now applying to the IMF for a loan of $ 5 to 7 billion? This is a vital question because once we have accepted the IMF conditions applicable to the Enhanced Structural Adjustment Facility, we would have embarked on a policy which would in many ways be irreversible.