A war-like situation at the border, a crippling drought, political stumbling blocks, a slipping growth rate, looming global recession, slowdown in the reforms process...

Year 2002 saw the Indian economy endure a lot, and yet manage to hold its head fairly high. Or so the economists say.

How would you rate 2002? Was it good for the economy? Or for you? Do tell us.

The Joint Parliamentary Committee report, tabled in Parliament on Thursday, has indicted former finance secretary Ajit Kumar for failing to resolve in time the redemption problem of the Unit Trust of India.

The JPC indicted Former UTI Chairman P S Subramanyam for 'keeping the ministry in the dark up to June 29, 2001' about the redemption problem.

The JPC report also slammed the Securities and Exchange Board of India and the Union finance ministry for the scam.

Meanwhile, the committee absolved Former Finance Minister Yashwant Sinha.

What is your take? Is government laxity responsible for stock scams?

This is your space. Tell us what you think.

The victory of the ruling Bhartiya Janata Party in the crucial state poll in Gujarat, analysts say, will now boost the economic reforms agenda.

Stock markets have already cheered BJP's win and politically sensitive decisions like divestment, cutting food and fertiliser subsidies, expenditure etc are expected to be expedited.

Do you think BJP will succeed in pushing reforms ahead? Why?

This is your space. Tell us what you think.

The pace of privatisation has been the major driving force behind the rise or fall of Indian stock markets in recent times.

Now Gujarat assembly elections have taken over. Analysts say the current spurt on the bourses has been triggered off on the hopes of a Bharatiya Janata Party victory in Gujarat.

An actual BJP win, they feel, will impart fresh momentum to India's stalled divestment programme and the economic reforms process leading to a surge on the stock markets.

Do you agree? Why?

This is your space. Tell us what you think.

Your views:
.  'Only Shourie has the guts to proceed with divestment'

December 05, 2002

In a recent survey conducted among management students, Infosys chairman and chief mentor N R Narayana Murthy emerged the most admired business leader.

Other contenders were late Reliance chairman Dhirubhai Ambani, Wipro chairman Azim Premji, noted industrialist Kumarmangalam Birla, Bharti Telecom chief Sunil Mittal and chairman of the Tata group Ratan Tata.

Do you agree with the survey? Or do you differ? In any case, who in your opinion is India's most admired business leader and why?

This is your space. Tell us what you think.

Your views:
.  'I would give Dhirubhai and Murthy equal marks'

December 05, 2002

The Mid-year Economic Review released by Finance Minister Jaswant Singh on December 3 sounded off alarm bells.

The warning was clear. The economy is not in a very healthy state. Mounting fiscal deficit, a failed monsoon, political bickerings, global meltdown and tensions along the border have hit India hard.

Given these facts, is the government close to achieving its target of 8 per cent gross domestic product growth rate? Especially, over a sustained period?

Tell us what you think.

Your views:
.  '8% growth possible, if BJP wins Gujarat polls'
.  'If China can do it, why not India?'

November 29, 2002

The task force on direct taxes headed by Dr Vijay Kelkar, advisor to Finance Minister Jaswant Singh, has proposed a two-slab tax rate.

Kelkar also recommended that standard deduction and all exemptions on savings should be lifted.

The proposals have sent shock waves through the country, sparking off heated reaction. Most people, especially the middle class, feel that the proposals are unfair.

What do you think?

Your views:
.  'These proposals will kill the common man'
.  'It is unfair to remove all exemptions'

November 29, 2002

Microsoft Chairman Bill Gates's visit to India has been seen by some as a public relations exercise to strengthen his company's brand and to keep people from dropping Microsoft's Windows operating system and switching over to Linux.

Others stress his visit was an altruistic attempt to combat the scourge of AIDS in India.

So, was his trip about generosity or was it about business? Tell us what you think.

Your views:
.  'He came, he saw, he got some cheap labour'
.  'It was 70% generosity and the rest business'

October 28, 2002

The Governor of the Reserve Bank of India, Bimal Jalan, has kept everyone guessing with what he has in store for them on Tuesday when he unveils the Monetary and Credit Policy.

Most bankers feel that the RBI may cut Bank Rate, but it will not lead to lower interest rates soon. Should then the RBI cut interest rates? Why do you think so?

Your views:
.  'Just cutting rates will do no good'

October 21, 2002

With the oil sector having been deregulated, petroleum companies now have the freedom to revise petrol/diesel prices every fortnight.

Are you happy with the frequent changes in petrol prices?

Your views:
.  'What revision? It has been an increase all the way!'
.  'As a common man, I am suffering'

October 7, 2002

The government wants to increase NRI participation in India's economy... Should it?

October 5, 2002

The debate over divestment refuses to die down.

On the one hand are forces that favour privatisation: primarily, Divestment Minister Arun Shourie, firmly supported by Prime Minister Atal Bihari Vajpayee and some others.

On the other are the swadeshi lobby, the Rashtriya Swayamsevak Sangh, Petroleum Minister Ram Naik and Defense Minister George Fernandes, who have been opposing privatisation tooth and nail.

Indian analysts have been crying hoarse about the ill effects the stalled divestment program could have on India's stock markets and burgeoning fiscal deficit. Foreign investors too are shying away from investing in India.

Postponed meetings, unrelenting opposition, public squabbling between senior ministers and helpless proponents of divestment; that is all India's ambitious divestment programme has now come down to.

What is your take? Should India sell its PSUs? Will the BJP government get over its internal bickerings and give the divestment process the push it needs? Where does India's divestment dream go from here? Tell us what you think.

Your views:
.  'Make Shourie the PM'
.  'Mr Fernandes should keep his socialist views to himself'

September 6, 2002

The proposed sale of two public sector oil refiners - Hindustan Petroleum Corporation and Bharat Petroleum Corporation - has sparked off intense debate.

Divestment Minister Arun Shourie is keen to divest the government's stake in many PSUs through strategic sales. But his plans have hit a roadblock due to opposition from Defence Minister George Fernandes, Swadeshi outfits, opposition parties, and other `administrative machineries.'

Meetings on divestment have been postponed several times. The latest one is slated for Saturday, September 7.

The sell-off of BPCL and HPCL is seen as a litmus test of the government's privatization drive, and can impact domestic and international investor confidence.

Though he denies a rift, Shourie says resistance to privatisation may retard the reform process.

So, should PSUs be privatised? Is Shourie selling the family silver? Is privatisation hostage to politics? Should other oil PSUs be allowed to bid for BPCL and HPCL?

Your views:
.  'Govt Should Not Do Business'
.  'PSUs Have Been Ideal Employers'

September 2, 2002

On August 31, the government announced a Rs 14,561-crore (Rs 145.61 billion) restructuring package for the Unit Trust of India, India's oldest and largest mutual fund.

This massive bailout comes following the huge redemption pressure faced by the UTI following erroneous investment decisions.

Investors were shocked by the July 2001 freeze when the UTI suspended the sale and repurchase of its popular Unit Scheme of 1964 (US-64), soon after which the then UTI chairman P S Subramanyam was taken into custody by the Central Bureau of Investigation.

The blame game had begun. The stock markets began to crash and the investors panicked. Under tremendous pressure, the government decided to bail out the UTI.

But this is not the first time the UTI has been bailed out. The last bailout, in 1998, when the government forked out over Rs 3,000 crore (Rs 30 billion), was an abject failure.

The new bailout will certainly curtail fears of huge stock selling by UTI and perk up the capital markets. And the tax incentives may encourage US-64 unit-holders to remain invested in the scheme.

Will this bailout be any better that the previous ones? Should the government continue bailing out institutions like the UTI by using taxpayers' money?

Your views:
.  'It's a Criminal Waste of Taxpayers' Money'

Is Ram Naik
    Guilty?

An agitated opposition is demanding the resignation of Petroleum Minister Ram Naik and an inquiry by the Central Bureau of Investigation into the reported allotment of petrol pumps to ruling party functionaries in different parts of the country.

The government, in turn, has cancelled all allotments made after January 2000, and released the names of various opposition leaders including Congress politician Manmohan Singh and vice-presidential candidate Sushil Kumar Shinde, who reportedly made recommendations to Ram Naik for such allotments.

But describing this as a "methodology of mudslinging" and a "dirty and diversionary ploy," the opposition continues to demand that Ram Naik assume responsibility and step down.

Should he?

Your views:
.  'Did Modi Resign? Did Fernandes?'
.  'Two Wrongs Don't Make a Right'
.  'Why Single out Ram Naik? What about the others?'
.  'Resignation will not clear the rot'

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