Thursday, November 19, 1998
Federal rate cut
The US central bank's reduction of the Fed funds rate and the discount rate by 25 basis points seems to have been much as the markets expected, which is why there is little reaction so far as far as the Dow Jones index is concerned.
Time is opportune to set up a free port
India's export growth rate has fallen causing considerable concern. The export growth rate come down from 29.30% in 1995-96 to 7.45% in 1997-98 in rupee terms. In dollar terms, it came down from 21.38% to 2.64% during the same period.
Crude-oil prices
Customs duty collection for the current fiscal has been below the targeted level mainly on account of low crude-oil prices. However, not everyone is complaining, especially not the refineries. Low oil prices have resulted in the oil-pool account showing a surplus.
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