The Financial Express -- Expressions

This page contains Editorial and Op-Ed articles

Friday, December 19 1997

Letters to the Editor

Confusion on reform

While the prime minister, IK Gujral asserted at the World Economic Forum meeting recently that the reform process was irreversible and two of his colleagues, P Chidambaram and Murasoli Maran declared themselves equally strongly on the future of liberalisation, the BJP and Congress are singing an entirely different tune in their run-up to the Lok Sabha poll. The United Front itself is certain to take a more cautious stand in the election manifesto. For, the unity it demonstrated at the height of the recent political crisis can be sustained only with a formal commitment to such an economic policy that does not come into conflict with the declared perceptions of left parties.

Private investment slowdown

Taking the cue from the Reserve Bank, it is now widely accepted that an investment slack is retarding the growth rate. The cut-back in public investment, identified by the Reserve Bank, has been significant. But the slowdown in private investment has been drastic; yet this has received less attention than it deserves, especially what has brought this about.

Selective credit control and sugar

Sugar is in the news with the commencement of the season for the crushing of cane. The latest credit policy announcement for the second half of 1997-98 has a reference to selective credit control on sugar. Selective credit control on advances against what are called sensitive commodities is exercised with a view to curbing speculative hoarding of stocks with the help of bank credit.

Confusion on reform

The big brand bust?

The Index -- Caprolactam prices

Selective credit control and sugar

Private investment slowdown