Open and shut skies

Article Abstract:

Critics of the Indian government's efforts to encourage foreign investment in its domestic aviation sector claim that the government is disingenuous. The policy, like many of those set up by Prime Minister H.D. Deva Gowda, actually is discouraging foreign investors. Gowda's United Front government has just turned down $750 million investment joint-venture proposal because between Singapore Airlines and the Tata Group. Gowda justifies his actions by claiming that he wants to protect Indian airlines from foreign competition.

Scheduled Passenger Air Transportation, Air transportation, scheduled, Domestic Air Passenger Svc, Scheduled Freight Air Transportation, Foreign Investment Regulations, Domestic All-Cargo Service, Foreign investments, Investments, Joint ventures, Airlines, Domestic airlines, Cargo airlines, Singapore Airlines Ltd. (Singapore), Foreign investment laws, Tata Group

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History on hold

Article Abstract:

Signs of an economic slowdown in India suggest the economy will expand only 4.9% in the year to Mar 31, 1996, meaning the fiscal deficit will exceed 6%. Agricultural output, which accounts for 30% of the economy, will shrink 0.1%. WIth inflation in Jan at a 5% annual rate the govt forecast 6% to 7% for the year, though private economists consider that artificially low. M3 growth was held to 15.1% over the 12 months ending Jan 5, vs 22.2% a year earlier, but the current-account deficit widened to 1.5% of GDP.

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High-wire act: India's budget balances coalition and economic needs

Article Abstract:

The budget India's new government released on July 22, 1996, generated little excitement and bore a striking resemblance to those the ruling coalition's members criticized ferociously when the former government put them out. The new budget hikes spending on education, health, agriculture, and subsidies, but seeks to avoid overspending and balances the wishes of industrialists against those of foreign investors. New elements affect foreign equity ownership, capital gains taxes, and low-tax corporations.

Economic Programs, Administration of Economic Programs, Intnl Economic Policy, Budget, Budgeting, Budgets, International economic relations

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