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Thursday, April 30, 1998
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Growth sans inflation
The credit policy for the first half of 1998-99 issues two clear signals. One, the Reserve Bank favours a reduction in interest rates in consonance with the objective of accelerating industrial investment and output. Two, it will nuance measures "in the light of actual developments" instead of setting out targets of reduction whether of interest rates or of the cash reserve ratio.
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Patents: An issue to be taken up seriously
The grant of the controversial patent for basmati rice has once again brought out the basic inadequacies and inherent limitations of the patent system the world over. In the past, a public outcry against such obviously undeserved grant of patents in India, USA and other countries had been raised in respect of the patents for cotton seeds, neem extracts, turmeric powder, etc.
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Moulding into a new shape
If the results of the Indian polymer giants are considered, then one thing is sure. The polymer industry is in for a change this year. The two Indian petrochemical majors and to a certain extent Finolex, have managed huge increase in volume sales, but in value terms the increase in sales has been marginal.
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Phillips Carbon: Dismal show
Phillips Carbon has all the characteristics of a commodity stock. The stock price follows the fortunes of carbon black, the main product of the company. This could be the reason why the announcement of delayed results for September 1997 failed to make a major impact.
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