Accountancy
Loose ends
WHEN time stares in the face, truths could emerge. With an approaching deadline, the ICAI president, Mr N. D. Gupta, makes a few admissions:
A rear-view drive
FOR all the sophistication and advances that the US has made in every field of science and technology, an archaic accounting practice is increasingly triggering off corporate bankruptcies and lawsuits in that country. The practice relates to the restatem
ent of audited statements of accounts of previous years as also the issuance of proforma quarterly results some weeks ahead of the official results.
Airlines
Air India -- Bailout instead of disinvestment?
WITH the Air India (AI) disinvestment coming to a grinding halt, it is time for some serious introspection by the authorities and those at the helm of affairs at the airlines, especially as the lifeline the proposed disinvestment may have thrown up has n
ow become a distant dream.
Economy
Roots of recession
THE anthrax scare and the Afghan war aside, the main worry is of the world slipping deeper into a recession. The September 11 incident was merely the trigger, the recession was happening much before that. And analysts do not see the end of the tunnel, no
twithstanding the recent look up in indices.
Editorial
Go gasohol
THE CENTRE SHOULD be complimented for deciding to permit blending of petrol with ethanol. It makes economic sense for the country, a major producer of sugarcane and molasses, to promote the blend which though unfamiliar here is a proven fuel elsewher
e in the world. The commercial and ecological arguments for using ethanol (ethyl alcohol) are well known.
Infrastructure
Leveraging on capacity
DIG trenches only to fill them up! Behind the surface joviality, this Keynesian precept is pregnant with grave implications. The Centre, which seems to be hamstrung by policy paralysis, having run out of ideas to prevent the economy from slipping into a
coma, would do well to heed Keyness advice. At a time when sentiments are negative and outlook bleak, there is no point in our political leadership preaching and pontificating from lofty pulpits. The Government has no option but to walk the talk and lead
from the front.
Miscellaneous
Worldwide trade in women
TRAFFICKING in women generates a whopping revenue of $ 5-7 billion a year, and women are trafficked for a variety of reasons, including prostitution, labour or marriage, says Ms Pamela Shifman, Associate Director of Equality Now, an international human
rights organisation based in the US focussing on the rights of women and girls. She spoke to Business Line on the problem and its ramifications worldwide.
Steel
New US import curbs on steel in the offing
THE Bush Administration plans to strengthen protection for the US steel industry with a range of stiff tariffs on l6 product lines before the end of February 2002, even as America's steel-makers are forging a survival strategy in a world of over-capacity
and low prices.
Technology
Park culture
THE Andhra Pradesh Chief Minister, Mr N. Chandrababu Naidu, has a talent for innovative ideas. From populist programmes, such as Janmabhoomi to Deepam, to carving out a Cyberabad with information technology and Hi-tech industries.
Telecommunications
Opening up international long-distance telephony -- For VSNL, the party is over
In AUGUST 2000, the Prime Minister, Mr Atal Bihari Vajpayee, had declared that both basic telecom (within the country) and international long distance (ILD) services would be thrown open to competition from April 1, 2001 and 2002 respectively. Such de-mo
nopolisation was inevitable consequent to almost all major countries, including India, acceding to the WTO and signing in 1996 the Information Technology Agreement. But the issue is when, and under what conditions, would the services be opened up for com
petition.
