Wednesday, September 16, 1998
Up investment sops
State chief ministers have agreed to set up a committee to end the incentive war among the states, as well move towards substituting sales tax by a value-added tax. There is little doubt that the race for attracting new industries is fast becoming a race to the bottom.
Vajpayee emerges unscathed in Bezbaruah case
The prime minister must make public the findings of the inquiry into the transfer. Atal Bihari Vajpayee is an honourable man. When he is out of power, he is a self-effacing man. When he is at the helm, he is an ideally assertive man. When he bundles out a rather inconvenient official, he is a bold man. When he reinstates him, he is a considerate man.
No cause for rejoice
Customs collections have improved marginally to 2.6% during April-August 1998, compared with the 1% increase during the April-July period. That is hardly cause for rejoicing, given the fact that the comparison is year-on-year and, therefore, includes the effect not only of the higher 4% customs duty imposed in this year's budget, but also of the 17% or so depreciation in the value of the rupee during the year.
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