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

N J JhaveriSubscribe to N J Jhaveri

Decline of Union Budgets-The Budget for 1980-81

The Budget for 1980-81 N J Jhaveri Besides looking at the receipts, expenditure provisions and taxation proposals and their implications, as incorporated in the Budget for 1980-81, this article discusses the developmental impact of Central budgets from a long-term perspective.

Current Price Situation Is It Unmanageable

 Current Price Situation : Is It Unmanageable ? N J Jhaveri AN increase in the wholesale price index (1970-71 = 100) of 7.2 per cent between March (average of weeks) and May 1979 is in sharp contrast to the modest rise of 0.88 per cent during the 11 months from April 1978 to February 1979. Explanations furnished for the price spurt are, in the main, (i) expansion in money supply in excess of growth in real output; (ii) fresh budgetary imports levied by the Central Budget for 1979-80; and (iii) seasonal trends.

Net Foreign Exchange Earnings from Export of Industrial Manufactures, 1974-75 to 1977-78

 This article examines the export performance of 153 companies for the four years 1974-75 to 1977-78. In addition to examining trends in exports in relation to total sales, an attempt is made to bring out the direct balance of payments impact of the companies constituting the sample.

Seventh Finance Commission s Recommendations-An Evaluation

Recommendations An Evaluation N J Jhaveri The Seventh Finance Commission has avoided taking a strong position on the question of Centre- state financial relations. It has taken the view that the framework of Centre-state financial relations embodied in the Constitution has stood the test of time and has worked fairly and smoothly.

Impact of High Capital Cost on Cash Flows of Industrial Units

of Industrial Units N J Jhaveri The capital cost of industrial projects has risen sharply in the last few years. Resort to external funds for financing investment has also increased, while interest rates on term finance have been raised.

Defence Expenditure A Growth Stimulant

the return is right. Live and let live, the Levanters do not protest when their land is used for mounting border operations against Israel, or when Beirut's airport is taken over by this or that group of Arab commandos, or when, in retaliation, Israeli planes demolish a few hundred old souks and a few thousand grazing sheep along their northern tracts. In any case, the poor who die or are rendered destitute by these raids do not matter very much; they never mattered in any century. On the other hand, you are well compensated for these embarrassments. There is a shining new Sheraton Hotel which has just conic; up in Beirut's city centre and must represent some substantial portfolio of second-order Jewish investment: much Rothschild and Warburg money, scrupulously laundered, must be servicing Lebanon's annual invisible earnings, running into close to a couple of billion dollars; the Playboy Club, another quasi-Jewish enterprise trading in human female flesh, exposes RISING defence spending by governments in many developing countries (LDCs) is a fact of life. So is their underdevelopment. Historically, a major factor restraining growth in LDCs has been the paucity of financial and physical investible resources. Putting these premises together, one would conclude that LDCs could have attained higher growth rates hail they contained their defence expenditure.

THE BUDGET

 belief that an expanded agricultural output will allow the government to increase public investment and stimulate growth in general. This strategy is, how- ever, unlikely to work. First, even if food output rises following the governments' efforts, it is not clear that it can get hold of a sizeable surplus at con- trolled prices or that foodgrain prices will fall voluntarily. If the price of food remains high

Erosion of Incomes of Income-Tax Payers through Inflation

This article examines the impact of inflation on the incomes of income-tax payers and discusses alternative ways of reducing the tax burden from the standpoint of their impact on revenues and on high and low-income groups among tax-payers.

Initial Depreciation Allowance-A Note

 Initial Depreciation Allowance A Note N J Jhaveri THE Union Finance Minister has announced, while presenting the Budget for 1973-74, that an initial depreciation allowance would be given on plant and machinery installed after May 31, 1974

Development Rebate and Its Alternatives

February 24, 1973 N Kaldor. The Reform of Personal Taxation', in the Accountant, 1958, reprinted in "Essays on Economic Policy", Volume I. Martin J Bailey, 'Capital Gains and Income Taxation' in "Taxation of Income from Capital" by Arnold C Harberger and Martin J Bailey (ed). R A Musgrave, ibid. All India Income Tax Statistics,

Income-tax Concessions and Choice of Financial Assets

Income-tax Concessions and Choice of Financial Assets N J Jhaveri Currency, bank deposits, units of the Unit Trust of India, provident funds, life insurance policy, and preference and equity shares, are some of the alternative financial assets in which an individual or a household may hold savings. Several factors may affect the choice of assets. This paper does not attempt to quantify any of these factors. It is confined, instead, to an analysis of income-tax concession which is one of the factors affecting the rate of return on different financial assets eligible for such concessions.

Pages

Back to Top