ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Interest Rates and Development

Interest Rates and Development H T Parekh Whereas monetary authorities in other countries use the instrument of interest rates to fight inflation, safeguard their exchange rates and influence growth, in India the authorities have followed a relatively inflexible policy on interest rates.

Public Minority Participation in Equity of Public Sector Companies

Public Minority Participation in Equity of Public Sector Companies A DEBATE has been going on in the columns of EPW on 'privatisation' of the public sector in developed and developing countries. Samuel Paul wrote on the subject in the issue of February 6, 1988. Ramaswamy Iyer dealt further with the subject in the issue dated March 12, not as a rejoinder to Samuel Paul but as "a piece of reasoning" to bring out some logical implications of the subject. Another article has appeared in the issue of April 23, written by BM, which deals with the subject from the labour and employment angle.

High Interest Rate Structure- Time for a Second Look

faith in the rights of its own ethnic identities. Similarly ethnic discontent in Punjab and Kashmir undermines effectiveness of India's Pakistan policy.

On a Wide Canvas

On a Wide Canvas H T Parekh Keynote by J R D Tata; UBS Publishers' Distributors, 1986; pp xviii + 155, THERE have been perhaps three genuine!, bold and influential Gandhi an socialists in India in this century, Jawaharlal Nehru, Jayprakash Narayan and J R D Tata

OBITUARY-S Kumarasundaram

it is in Karnataka or Gujarat there is no comparison between the assistance provided to these states and Andhra. This is where the States are at the mercy of the Centre. The Congress(I) government at New Delhi, while playing the dirty politics in a calamitous situation like this, does not seem to realise that it is only playing with the lives of the poor masses.

Management of Indian Government s Finances

Management of Indian Government's Finances The Indian Financial System by R K Seshadri; Institute for Financial Management and Research, Madras, 1985; pp 287, Rs 75.

Ford, Chrysler and I

 of chapter 9 (especially pp 252-255) provide heavy algebra without many further clear-cut economic results. At this final stage, the book seems to suffer from the usual syndrome of neo-classical 'general equilibrium-type analysis where 'everything depends on everything else' and unambiguous results become hard to obtain! The book ends with a long (pp 256-286) and interesting appendix on the much debated issue of tenancy in agriculture.

The Take-Over Storm

plause, mostly pre-arranged, with which a presidential address is routinely punctuated. Based on his own experience in Central America, Senator Dodd gave a vivid picture of the conditions prevailing there. A very few live m "isolated splendour", while the rest suffer from "shantitown squalour". The region is racked by poverty, hunger and injustice. Rut for this there would be "nothing for the Soviets to exploit''. And unless these conditions change, it will continue to "seethe with revolution

Stock Market, Capital Market and Money Market

Stock Market, Capital Market and Money Market A Mid-Year Analysis H T Parekh IN the first half of 1982, the financial and monetary scene has transformed itself beyond recognition from what it was in 1981. The euphoria caused by inflation psychosis has gone. The stock market community is in the grip of a crisis and is paying dearly for its excesses. The impact of this is also being felt sharply by the new issues market, where the phenomenal burst of activity of 1981 has much subsided. No longer is it easy to raise new capital, though, overall, the market can be said to have broadened a great deal. In the money market, the constraint on resources has eased considerably for the banks. Pressure on them from the Reserve Bank on the one hand and for credit from their clients on the other has relaxed far beyond anyone's expectations. In industry and trade, a sellers' market is turning into a buyers' market making it difficult to pass on cost increases to the consumer. This is a new experience for the stock, capital, money and commodity markets. The painful process of downward adjustment is going on, the end of which may not yet be in sight.

Pakistan-India Relations First Step towards Regional Co-operation

In spite of traditional enmities and bitter war memories, France and Germany, together with the smaller countries of Western Europe have been able to establish a European Common Market.

Credit Policy, Interest Rates, Central Banking, and All That

So long as it cannot be established that there has been speculative inventory build-up in any section of industry, any large increase in bank credit need not cause the kind of alarm it has caused among academicians.

The Industrial Credit and Investment Corporation of India Limited

The Industrial Credit and Investment Corporation of India Limited H T Parekh ICICI Chairman refers to improved working of industry in 1972 * Dangers of standing still * Need for speedy decisions by Government * Call for Pragmatic Approach to Industrial Growth THE following is an extract from the Statement of the Chairman, Shri H T Parekh, circulated to the Shareholders with the Directors' Report and Accounts for the year ended December 31, 1972.

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