New Delhi rolls back tariffs: budget reversal casts doubt on resolve
Article Abstract:
India's new nationalist government is rolling back tariffs and price increases, after imposing them in the national budget for three weeks. The decisions are the most recent among policy reversals aimed at strengthening investor confidence on the government's potential to take a determined course and handle the economic turmoil. Finance Minister Yashwant Sinha, on June 12, 1998, divided in half, to 4%, a special import duty he had approved in the national budget The move received criticisms from foreign investors and economists, describing it as protectionist.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Political parties are facing the specter of slowdown
Article Abstract:
The political party which will emerge victorious in India's elections after March 1998 will have to cope with declining economic growth and trade problems. The major economic indicators of exports, inflation, new jobs, and tax revenues are all below par following the regional crisis, which has paralyzed export-oriented sectors such as textiles, leather, and jewelry. Forecasts indicate a possible decline in output from 7.5% in 1997 to only 5.5% after March.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Finance minister leads lonely fight for a free market
Article Abstract:
Indian Finance Minister P. Chidambaram is seen to be fighting a losing battle to deregulate the Indian economy. His efforts that have experienced setbacks, include the government's decision to raise government employee wages, failure to gather support for the opening up of the insurance market and pushing a bill to regulate broadcasters. The finance minister, however, continues to push for economic reforms.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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