ABOLISHING THE LICENSING REGIME

Alteration in the socialistic mindset, which developed in India during Jawahar Lal Nehru’s reign, led to major amendments and subsequently abolition of the so called License Raj in the country. Licensing meant that only a few players would be given permission to operate in a particular sector, thereby creating monopolies and the endemic shortages, which marked the economy during the so called license-permit raj. In 1991, when Finance Minister Manmohan Singh abolished this irrational and repressive regime, the entrepreneurial energies of India Inc. were unleashed. That India is rising and shining now is partly because of this momentous policy shift .

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Source:- IIPM Editorial, 2006

“dark matter,”

In one corner are economists who think the official statistics miss invisible US exports – exports not of goods and services, but of intangibles like knowledge and brand-name recognition, which allow US companies to earn high rates of return on their foreign investments. Proponents of this view claim that if we counted these invisible exports, which they call “dark matter,” much of the US trade deficit would disappear. The dark matter hypothesis has been eagerly taken up by some journalists, who like its upbeat message. It seems to say that the United States’ economy is, as a cover article in Business Week put it, “much stronger than you think.”

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Source:- IIPM Editorial, 2006

Is royalty really needed?

Is royalty really needed? Though George Bush might consider himself one too, the covenant clearly is out that royalty comes from content of character, not by right or might. Unfortunately, royalty in today’s world is a fashion statement; a discard of the bygone Imperial legacy. It really is worth no more use to society, than of churning out extremely costly national brand ambassadors. It took one French Revolution to finish off Ms. Royalty Marie Antoinette in the 18th century. It took one independence movement for India to wipe out its bunch of over 600 braggarts. One just hopes it doesn’t take that much effort to wipe out this solecism in the near future.

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Source:- IIPM Editorial, 2006

Life Insurance:

If you search for a life insurance service provider that demonstrates utmost promptness in issuance of the policy, gives you cheque pick-up facilities, and will not make you wait for months before granting payments on maturity of policy, then stop right here and look no further. Your choice should inevitably be TATA AIG. It is a matter of fact that they get the highest score in the ‘tangibility’ consideration, which appraises companies for a combination of nine parameters related to quality of customer service.


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Source:- IIPM Editorial, 2006