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In defence of Reserve Bank measures
The recent measures announced by the Reserve Bank of India (RBI) in the money and foreign exchange markets have been received with disbelief. Markets see it as a rollback of reforms; opinion-makers see it as a harking back to the seventies when trading in financial markets was considered taboo.
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Seek a social answer
Discretionary powers given to officials have contributed to the generation of corruption in a big way. Such powers are, like friction, a necessary evil. The legislatures provide only the skeleton of policies. The flesh and blood to legislative policies is provided by the executive through subordinate legislation in the form of procedures, rules and regulations.
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Sowing discontent
Monday's firing on agitating farmers in Madhya Pradesh's Betul district, conforms to a sadly familiar pattern. Just three months ago, similar scenes were enacted in Haryana's Mahendragarh district when six farmers were killed in police firing while they were agitating for free electricity.
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The Japanese have waited long enough
Japanese tribe is a well known for taking decisions slowly and systematically and do not take kindly to anyone trying to rush them. But, the fact that long after Suzuki entered into a collaboration with the government on the management of Maruti Udyog there is very little to show by way of a widening Japanese corporate interest in the Indian economy would suggest indifference.
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