Divestment option
The government's decision to reportedly pull back from IOC disinvestment is a direct consequence of its policy on crossholdings. The price of the public sector oil giant's scrip has fallen from a high of Rs 750 in January last year to its present level of around Rs 280.

Juggling funds
The finance minister's budget proposals aimed at reviving the stock markets hinge basically on tax sops given to open-ended equity funds. Not only will unit-holders not be required to pay taxes on dividend received, the funds too will be exempt from paying dividend tax.

Budget 1999-2000 -- Analysis of tax provisions
Yashwant Sinha's budget for 1999 is a significant improvement on his earlier one. For the first time the Income Tax Act has given powers to income tax tribunal to award costs in suitable cases.

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