MONEY & BANKING
Basmati patent row -- Focus on expertise, attention to detail
THE row over the Basmati patent is confusing to the lay public and even to experts. The Opposition seeks to gain political mileage out of it, alleging that the Government has lost the legal battle against RiceTec Inc and that this would jeopardise the co
untry's commercial interests. The Government, on the other hand, denies that India's exports of Basmati would dwindle and, in fact, goes one step further to assert that, if anything, it had won the legal case against the patentee.
Capacity, production growth in manufacturing
THERE are two views about why the growth rate of the economy has slowed down, though there are no differences on the fact that the growth rate of the economy has slowed down. The dominant view in the popular media and in some journals is that the slowdow
n of the economy is due to a fall in the growth rate of effective demand.
Loan for land
BANKS WILL NOW be able to fund purchases of land by small and marginal farmers to enlarge their holdings and schematise an old practice. Over a year ago the Finance Minister requested bankers to come up with a funding idea to help the rural poor own land
. Small and marginal farmers, tenants and share-croppers, will get bank loans to expand acreage under a scheme cleared by the Finance Ministry, the RBI and Indian Banks Association, though the sad mass of landless labour will still remain beyond the boun
Crime and punishment
THE Tehelka.com affair -- which was (some say deliberately) relegated to the background of national affairs (thanks to the Agra summit, among other things) -- has suddenly stirred itself out of its `hibernation', and is again holding centrestage. The new
twist essentially comprises the revelation that the targets of the dotcom investigation were willing to discuss the modus operandi of securing Defence contracts for the `fake arms dealers' in return for not merely `filthy lucre' but also for alcohol and
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