When the country's foreign exchange reserves crossed $50 billion a couple of years ago, it sparked debate among policy makers about the costs and benefits of maintaining such a high level of reserves.

Step jump in value?

Business Standard

The Supreme Courts decision on the Securitisation Act must be wholeheartedly welcomed. 


A level field

With the economy galloping along, the record credit growth in the fourth quarter of FY 2004 should come as no surprise. 


The money flows

The Securities and Exchange Board of Indias initiative to have mandatory ratings for stock brokers is, at first glance, likely to be welcomed by investors. 


How will it work?

Foodgrain exports have been in virtual limbo ever since the government asked the Food Corporation of India (FCI) to curtail deliveries to exporters on the plea of stock draw-down. This has put traders

Killing the goose

All problems usually have solutions. But the solutions can be good as well as bad ones. The decision by the Election Commission (EC) to vet political advertisements before they are released is a case

No censorship, please

The weather offices forecast of a normal monsoon this year is prima facie good news for the economy, since it answers broadly one of the key questions that determine economic performance. 


So far so good

The retail loan books of commercial banks have come under the Reserve Bank of Indias (RBI) supervisory microscope. The brief for the regulators inspection team is to check whether there is any

Spare the system

Politics and economics usually pull in opposite directions. Left to themselves, governments in democracies, because they depend on voters goodwill, would (and often do) make a complete mockery of the

Playing politics again

The decision of the California Public Employees Retirement System (CalPERS) to include India in its list of emerging markets eligible for its investments is an endorsement of the Indian stock market.

A vote for India

The forthright remarks by Thomas Donohue, president of the US Chamber of Commerce, on the controversy over offshoring should go a long way in allaying apprehensions and set the stage for an orderly

Lobbying for offshoring

The banking regulator has made a sensible revision of the norms governing payout by banks for 2003-04. Under normal circumstances it is the management of the bank which should determine how to keep

Sensible caution

The newly launched Greening India project to extend forest cover to 33 per cent in all the states by 2012 is not the first initiative in this direction; but it is novel in several respects. 


Excessively ambitious

Some good seems to have come out of the ONGC share allotment fiasco. Rather than conveniently blaming it on human error, the Securities and Exchange Board of India (Sebi) has finally realised that

The right approach

Its early days yet, but the trend in corporate results so far has been excellent. Topline growth has now been clearly established, in contrast to the earlier pattern of profits increasing mainly on

Poised for an upturn

Consider the increase in the global sentiment in favour of India, and its difficult to understand the latest A.T. Kearney Globalisation Index that puts India at the bottom of the heap, ahead of only

Ranking the rankers

Last February, before the Iraq war, Brent March futures were being quoted at around $ 31.50 a barrel, and the futures price fell off steeply to $ 23.02 per barrel for April, and to $ 22.42 for August

Danger in oil prices

One of the most important issues facing investors today is the question of China. Will it slow appreciably in 2004 and if so what are the reasons? 


Will China slow down?

A report by the Karnataka government to the Centre, that the state is losing revenue as a result of the operations of Metro Cash and Carry, suggests that the controversy over the company and the

The Metro model

Those who viewed the new central banks gold sale agreement, upping the annual disposal cap from 400 tonnes to 500 tonnes, as a blow to the bullions role as a global monetary tool, are in for

Still shining

After months of tepid growth, non-food credit disbursements by banks picked up during the second half of FY 2004, and the last couple of months have seen unprecedented growth. 


Plenty of money

Incisive columns and editorial comment by top opinion leaders

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