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Drumbeat: Ad Buzzaar
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Wednesday, May 20, 1998
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Slack investments
Industrial production slowed down by more than was expected in 1997-98: the CSO had projected a 6.1% growth; its latest reckoning is that industrial growth was a mere 4.2% against 7.1% recorded in 1996-97. Industrial growth has dived for the second successive year from the 1995-96 high of 12.3%. The downturn is serious. This cannot, however, be attributed to a shortage of power. Electricity generation actually improved (6.8%) over the previous year (3.9%).
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Talking trade
The Union government has asked for a review of the WTO norms through commerce minister Ram Krishna Hegde at the Geneva summit. Two things stand out about the demand. First, that the Saarc nations signed a declaration on the demand for changes in the norms at Geneva over the weekend, signalling that the recent nuclear tests by India by no means put an end to diplomacy dynamics of the region. Second, India is not alone in asking for a revision of the norms.
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Taxing Internet gains can be quite a task
The art of taxation, says Kautilya, is like a bee sucking nectar from a flower, getting optimum honey without causing any damage to the flower. Flowers are not however, mobile, while today's taxpayer is. Not only can he move in space but can also fly into cyberspace. Present day technologies enable taxpayers to shift their business operations in a matter of seconds, from one part of the world to another -- lock, stock and barrel.
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Kodak India on a roll
Despite Kodak India being a relative newcomer to the Indian marketplace it has consistently enjoyed a high price earning multiple relative to the multiples enjoyed by the other companies in the photographic film industry. At a multiple of 29 times its 1997 earnings, the stock reflects the expectations of high growth. And this expectation seems to be matched by the ever improving performance from Kodak.
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