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

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TRIPS, Product Patents and Pharmaceuticals

Participants in the international debate on patents and pharmaceuticals have begun exploring two distinct sets of TRIPScompliant options/mechanisms that would enable patients in the developing world to access new treatments at affordable costs. The first set relates primarily to 'global' ailments, where R and D is already supported by the north, and includes options such as compulsory licensing, 'tiered' pricing and national drug price regulations. The second set of mechanisms is aimed at 'creating markets' for treatments relating to poor country-specific ailments in a manner that allows affordability without endangering incentives to future research and innovation.

Fiscal Deficits and Fiscal Responsibility Act

Fiscal authority should make a distinction between cyclical and structural movements in the fiscal deficit, for otherwise its policy actions may lead to an increase in the amplitude of cycles experienced by the economy.

Exchange Rates, Markets and the RBI

Recent developments in the foreign exchange and money markets have shown that if the Reserve Bank wishes to pursue an independent monetary policy, one tailored to suit the cyclical conditions of the domestic economy, it needs to step back from its interventions in the foreign exchange market and let the rupee be.
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