A creative verdict
The Sebi order in the Hindustan Lever-Brooke Bond Lipton (HLL-BBLIL) case is innovative in its approach to crime and punishment. It has taken the view -- not unreasonably -- that the HLL decision to buy eight lakh shares of BBLIL just a few weeks before the formal announcement of the merger is tantamount to insider trading, though there is some doubt about whether a company can be an insider to itself.
RBI cabaret
The RBI has issued a circular amending the exchange control regulations for the engagement of foreign artistes for performance in India. The RBI has now decided to allow remittance facilities for engagement of foreign artistes such as dancers and musicians only if the artistes are engaged by the ITDC, State Tourism Development Corporation etc or where they are engaged by hotels in the five star category.
New government will inherit empty coffers
The new dispensation at the centre is likely to face a severe funds crunch, at least for the first three months in office. The reason: the virtually empty coffers the new government will inherit, coupled by unprecedented credits due to trade and industry.
Need to revamp retention pricing
The centrepiece of the government's fertiliser pricing policy is the Retention Pricing Scheme (RPS), whose objectives are to stimulate consumption of fertilisers, while promoting the growth of the domestic fertiliser industry and enabling indigenous fertiliser producers to earn a reasonable return on investment.
Inching towards zero-duty structure
The import of computer software is proving to be a contentious issue offlate, especially when it comes in CDs. This is because from late last year, software imported on CDs alongwith CD-ROM multimedia titles (also contains computer games) started attracting 32 per cent duty.
The Index
Power Trading Corporation -- Once again, the ministry of power has refused to acknowledge the obvious and try to solve an existing problem by suggesting a solution worse than the problem. Reportedly, the formation of a Power Trading Corporation (PTC) for trading power is being considered. The PTC will act as an agent between power surplus and power deficit entities.
