Mission to Mumbai
Finance secretary Vijay Kelkar has a tough job on hand. This year's budget has taken little initiative to kick-start the economy; the task has been left to the monetary policy. The scene of action has shifted from Delhi to Mumbai, the financial capital.

Tackling recession
The rapid pace of accretion of bad debts in banks reflects the impact of liberalisation on the corporate sector. It should, without being unduly alarmist, be taken as a warning.

Delhi must seize opportunity at trade talks
The millennium round of talks on agricultural trade will begin some time towards the end of 1999. The WTO hopes to bring the same level of discipline to trade in agricultural products as in industrial goods by the end of this round.

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