Monday, August 17, 1998
Smile for a change
Finance Minister Yashwant Sinha is promising an economic turnaround this year in the teeth of business expectations to the contrary. Sinha has instruments to nudge forward the economy. The trouble is, doomsaying by big business can be self-fulfilling in a private sector-led economy.
Misleading figures
Whenever the prospects of a recovery in the Indian economy are analysed, commentators draw inspiration from the figures of disbursements recorded by the financial institutions (FIs). These figures have been truly impressive.
V-Sat facility will help banks cut costs
Not long back, the banking unions in nationalised banks stiffly opposed the deployment of even the most basic All Purpose Ledger Posting Machines (ALPMs). But the Rangarajan committee report was strictly implemented in 1986 and the nationalised banks had their first taste of technology.
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