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

Articles by M K DatarSubscribe to M K Datar

Revitalising Growth: Idiom and Message

The main reason why the RBI's latest Report on Currency and Finance has caught public attention is the policy implication of the research presented in it. But while it is understandable that the initial responses are focused on the policy aspects, the analytical aspects of the report too deserve a careful look.

Interest Rates on Small Savings and PF Schemes

The arguments for linking interest rates on small saving (SS) schemes to market rates and rationalising the tax benefits available to them rest on removing the government's arbitrary powers in a liberalised interest rate environment. If as a result of the suggested measures SS schemes become relatively unattractive, the government would need to borrow more from alternative sources. If total government borrowing is not kept in check, yields on government securities would go up and with it the interest rates on SS schemes would also warrant upward revision.

A Risk Perspective on the Union Budget 2001

Since the government has claimed to initiate second generation economic reforms with the budget for 2001-2002, it is useful to discuss the budget proposals with reference to their impact on the incidence of risk and the risk-bearing ability of the central government.

Taxation and Capital Market Development

It is not necessary to sacrifice equity in taxation for capital market development. Nor is it necessary to prop up mutual funds by providing disincentives for direct investment in shares, debentures and securities.

DFIs in an Era of Developing Capital Markets

Development financial institutions (DFIs) were set up because banks were unable to meet the requirements of industry for long-term finance. Capital markets have since developed, offering industry an alternative source of funds. DFIs' own source of funds has changed. This article assesses the debate on universal banking and examines the future role of DFIs.

Dressing Up the Deficit

Dressing Up the Deficit M K Datar YOU have made some interesting observations (March 16) on the shifting government focus on different concepts of deficits which seems to be centred at present on primary deficit. While the union government's budget documents have been publishing data on different measures of deficit in the government budget, the Economic Survey 1995-96 has made an attempt to decompose primary deficit into two components, viz, consumption and investment.


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