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TRIBUTE
Paul A Samuelson :
A Legendary Economist
-- GRK Murty
The seer of economics, a `generalist' who had his "finger in every pie" within the field of economics, leaving
his seemingly simple but intrinsically complex question—"Is there not some realistic tradeoff between
more equality and more cumulative progress?"—for us to ponder, died on December 9,
2009.
SPECIAL ISSUE
US Financial Outlook:
Positive Vibes!
-- David Wyss
Though not much is expected to change in year 2010, it will at least be better than 2009.
However, the financial markets are not out of danger yet. A major default could send them back into
their frozen state of a year ago and take the world economy back into recession.
SPECIAL ISSUE
Tax Havens :
Financial Implications for India
-- R Vaidyanathan
It is the developing countries which are impacted more due to the flight of capital to tax havens
and hence India should take the lead. Since the financial flows from these secretive jurisdictions
can destabilize our financial system, particularly if they are not well-regulated, it is important that
India takes steps to deal with them.
PECIAL ISSUE
21st Century World Economy :
No Longer Just About `US'
-- Ross Gittell
After the current economic malaise, the US will enter a period of economic growth, however,
the growth rates will be well lower than the strongest performing economies in the world
such as China, India and Brazil and also lower than the
20th century levels in the US.
SPECIAL ISSUE
Equity Markets 2010 :
Expect Modest Returns
-- Chetan Majithia
India will be one of the fastest growing economies in 2011 and hence should continue to remain
as a favorite investment destination. Accordingly, we expect market sentiments to remain positive
in 2010.
SPECIAL ISSUE
Reforming Higher Education :
Need of the Hour
-- Dhiraj Mathur
Education sector reforms need to be realistic. Government reforms must focus on creating
an ecosystem that stimulates excellence in quantity
and quality and access to higher education for all segments of society.
SPECIAL ISSUE
Accountants for Business :
A Challenging Role Ahead
-- Aziz Tayyebi
In the aftermath of the financial crisis, the role of Chief Financial Officer (CFO) has become
more important in recent years as a guardian of financial performance and a key player in creating
long-term value.
SPECIAL ISSUE
Japanese Economy :
Combating the Crisis
-- Nobuyoshi Yamori and Kei Tomimura
The global economic crisis has had a huge impact on the Japanese economy. However, the number
of bankruptcies is considered relatively less, compared to the drop in the production levels, thanks to
the extensive economic stimulus measures introduced by the government.
SPECIAL ISSUE
New Direct Tax Code :
Decoding the Code
-- Divya Baweja
The unveiling of the draft code on direct taxes is a historic move as it endeavors to replace the
over four-decade-old Income Tax Act, 1961 and bring about substantial changes in the tax system of
the country.
SPECIAL ISSUE
Goods and Service Tax :
A Pathbreaking Tax Reform
-- K R Girish
Post-independence, if one has to pick a reform that will change the way business is done, it has
to be Goods and Service Tax (GST). In fact, this reform can be termed a game changer.
SPECIAL ISSUE
Alternative Energy :
An Answer to Global Warming?
-- Bhamy V Shenoy
The world cannot solve the twin problems of energy and environmental crisis unless we
are prepared to change our lifestyle in a fundamental way.
SPECIAL ISSUE
Indian IPO Market :
Recent Trends and Future
-- Prithvi Haldea
This is the best time for the government to take the lead in reviving the primary market.
Divestments and offerings from PSUs at attractive prices can pull back investors easily. Once the
momentum starts, the sentiments would improve.
SPECIAL ISSUE
Commodities Market:
Demand Robustness Holds the Key
-- Naveen Mathur
In the coming year, we could witness a sharp rally in commodity prices if economic recovery leads
to a boost in the demand for raw materials.
SPECIAL ISSUE
Mobile Commerce :
The Next Wave in Electronic Payments
-- Probir Roy
Not only is the humble mobile a communication device pervasive across all wage earners, but also
a Point of Sale (PoS) for the merchant boss. With prohibitive upfront costs and recurring expenses
taken care of, the mobile becomes an `anytime,
anywhere' device or a wireless PoS.
SPECIAL ISSUE
Indian Mutual Fund Industry :
Winds of Change
-- A N Sridhar
By announcing the setting up of trading platform for mutual fund units in the exchanges, Sebi
has automatically opened the mutual fund window to millions of potential investors from the rural
and semi-urban areas. This is an indication that the investors are all set to rule in the
fast-growing mutual fund industry.
SPECIAL ISSUE
Reviving Indian Agriculture :
Back to Basics
-- Tey (John) Yeong Sheng
The strategies for reviving Indian agriculture include innovation in using technology and
resources, future policies that are quantity and business-oriented, and creating a competitive market
for allowing public-private partnership to invest in agriculture infrastructure, extension, and technology
transfer.
SPECIAL ISSUE
Managing Budget Deficits :
The Big Western Dilemma
-- Franck Biancheri
Next Spring will be the defining moment on the issue
of managing budget deficits for Japan, Germany, France, UK and
US, especially when the first results will be available concerning either the success
of these stimulus plans or the relevance of deficit control
policies.
SPECIAL ISSUE
Indian Agriculture Sector :
Promises and Prospects
-- Dr. Amalendu Jyotishi
There is a need for enhancing planned capital expenditure in agriculture and allied
sectors that can be targeted to specific
inducements, especially in the backward regions. This is especially important as
Gross Capital Formation (GCF) in agricultural sector has been very poor and its growth rate has
been declining over the last decade.
SPECIAL ISSUE
PSB Consolidation :
Issues and Perspectives
-- S S N Murthy and Jayasree Menon
Though our banking sector could boast of adhering to the international best practices with respect
to income recognition, asset classification and provisioning, when it comes to the strength and size
of the banks, we have a long way to go.
APOLITICAL
Inflation : What's in Store for 2010?
As the year is drawing closer to its end, thanks to the
skyrocketing food-prices, the Wholesale Price Index-based
inflation has shot up from 1.34%, as at the end of
October, to 4.78% by the last week of November—three-and-a-half
times' rise in just a month.
-- grk
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