Singh steers a brave course

Article Abstract:

Singh is trying to guide India into sound international trade. Backed by the prime minister, Narasimha RAo, he has slashed red tape to abolish a wealth of restrictions on foreign investments, including non-tariff import curbs and bars to participation in oil and gas. Domestic problems include surplus labor, militants unions and sick industries.

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Opening up

Article Abstract:

India is finally opening up its stock market to foreign investment on a limited, controlled basis. Even so, early inquiries suggest that there will be a lot of interest. A headline making securities con in May could discourage some investors, but those seeking bargains should find them.

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India's brave budget

Article Abstract:

India's finance minister Manmohan Singh is making bold moves to improve the economy and reduce public debt. Singh has opened the markets to more foreign trade, cut taxes and plans to cut government subsidies and socialist programs.

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