Rao under siege: Hindu revivalists threaten government
Article Abstract:
India's Prime Minister P.V. Narasimha Rao is confronted with mounting difficulties from Hindunationalists to his own Congress party. Rao and his political allies banned a New Delhi protest by the Hindu-based Bharatiya Janata Party (BJP). The prohibition, however, led to unfavorable results after the BJP emphasized the undemocratic nature of the ban. These political developments are putting a strain on the fruition of Rao's economic programs which are largely dependent on an upcoming budget approval.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Wind of change
Article Abstract:
Indian Finance Minister Manmohan Singh introduced a new trading system together with the country's budget for FY 1992. The first step involves the partial convertibility of the country's currency. This requires that 40% of all foreign-exchange remittances have to be surrendered to the Reserve Bank of India and converted at the daily official rate. The rest will remain with Foreign Exchange Dealers' Association-member banks and traded at market rates.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Don't mention it: India's latest budget bows to political realities
Article Abstract:
India's finance minister recently released a new budget constructed with an eye on the elections due by June 1996 but timed to come out after the recent state elections. Rather than the fiscally prudent measures he would have liked to take, the budget lays out a plan to temporarily restrain consumer prices and lower taxes on industrial raw materials. Lowering inflation from its present 11.5% is crucial to the Congress Party's hopes for reelection.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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