Tuesday, September 29, 1998
RBI must tread chary to tighten money
Growth in broad money (M3) has crossed 20%, taken on a year-on-year basis. The immediate reason is the inflow of Resurgent India Bonds, but that dosen't alter the fact that M3 growth this year is likely to be very high.
Troublesome deficit
The Union finance minister's repeated assertions that the fiscal deficit will be contained within 5.6% of GDP, as targeted by the budget for 1998-99, find few takers. The reason for this is that the revenue assumptions on which the deficit target was based were weakened by rollbacks.
Nurture talent
The Indian educational system has consistently bred high quality technical manpower waiting to be tapped by the global powers. In the field of computer software education it is the private institutes who have been churning out the requisite manpower.
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