Economy
Official statistical apparatus -- Figures must speak for themselves
As the country has the expertise and technology for standardising statistics, efforts should be made by the authorities to take the job of collecting and assembling data seriously so that multilateral development agencies or financial institutions such a
s the IMF do not cast doubts about the authenticity of these figures. In this regard, there is a need to bolster the primary data collection, says G. Srinivasan.
Fall of euro and the economic-history factors
EURO, the common currency of the 11 countries of the European Monetary Union (EMU), has been in the news recently because of its steep slide vis-a-vis the dollar. Its value in relation to the dollar fell as low as $0.8917 on May 9, whi
ch is within a cent of its earlier record low. The euro's fortunes have been fluctuating since its inception on January 1, 1999. The present fall came immediately after the meeting of the Eurozone Finance Ministers which did not make any spectacula
r move for its recovery.
Editorial
`Future' ahead
EVERYTHING IS SET for futures trading, with SEBI clearing the way for the NSE and the BSE to launch index futures. The NSE is to start trading from June 12, offering index futures on its benchmark S & P CNX Nifty. The size of the contracts and the period
outlined by the NSE seem to be more or less in line with that in the developed markets. The fixing of the contract size at 200 units may, however, make it a market for big players. This is just as well. For, there is bound to be a learning curve on trad
ing in these instruments, and it is better that big players take to it first as they should be able to afford the cost of acquiring expertise.
Miscellaneous
Making room for privacy
PRIVACY is no big deal for most Indians. We generally do not think it inappropriate to quiz a total stranger on his antecedents or drop in unannounced at an acquaintance's house at lunch time, for `we are like this only'. But this
lack of attention to privacy could cost us dearly in the `e-conomy' that we are rapidly becoming a part of.
UK company law review -- Consultation paper released
INDIAN law largely draws from the British system, and the company law review in Britain should have pointers and lessons for India which is also re-writing its company laws. On March 15, the independent steering group responsible for company law reform i
n the UK released a consultation paper. Its spokesmen, releasing the report, said: ``We need a system of company law which meets the needs of business and encourages enterprise and competitiveness. It must be flexible, clear and accessible. In developing
our proposals, our aim has been to strip out obsolete provisions and to simplify and clarify the law, as well as to improve transparency and accountability and to encourage companies to recognise the wide range of relationships and know-how on which the
ir success increasingly depends.'' The core proposals are a statutory statement of the duties of company directors and improvements in company reporting.
Politics
Reorganisation of states... -- To correct regional imbalances
DOES INDIA need second reorganisation of states? Can the boundaries of the union be redrawn piecemeal to assuage the aspirations of a region, while others with a stronger case be ignored? And, most important, what would be the fallout in other regions if
the Centre succeeds in carving out Uttarakhand, Jharkhand and Chattisgarh by splitting Uttar Pradesh, Bihar and Madhya Pradesh respectively?
The nostrums of anti-colonialism
AGATHA CHRISTIE'S A Murder is Announced was for many years one of the most popular mysteries. The murder of democracy and the rule of law in Fiji is no mystery, but simply a re-run of a bad film of 1987 vintage, with a few extra scenes a
nd faces to give the exercise a contemporary feel.
