India's choice; in new world economy, BJP has little room for manoeuvre

Article Abstract:

The Hindu Nationalist Bharatiya Janata (BJP) Party is the largest opposition party to India's Congress Party which lost majority control of government in recent national elections. Some investors are concerned that India may reverse its economic reform policy under the BJP since the party has adopted a nationalistic political attitude since India opened its economy beginning in 1991. The reality is that the BJP and political leaders everywhere have fewer options in an increasingly global economy. The BJP cannot restrict foreign investment and expect India's economy to continue to develop.

Editorial, Elections, Parliamentary procedure, Congress-I Party (India)

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Rules for rupees

Article Abstract:

Nepal has introduced economic reforms in reaction to India's economic liberalization policy. Harishankher Tripathi, Nepal's Rastra Bank governor, says that the reforms were necessary to protect the country's foreign exchange reserves of 22.47 billion rupees. The reforms include the creation of a new conversion rate of 42.6 rupees for every US$1 and the formulation of a new import-regulation standard. The new economic policy is also designed to increase Nepal's exports to other countries aside from India.

Finance, taxation, & monetary policy, Economic aspects, Prices and rates, Monetary policy, Nepal, Rupee (India)

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The power of change

Article Abstract:

India's economy has recovered remarkably with PV Narasimha Rao as prime minister, and multinationals are flocking to establish a strong presence there, though troubling macroeconomic signs are resurfacing. Foreign investment inflows totalled $3.14 billion from Aug 1991 to Nov 1995, and the country, with a huge trained workforce and low costs, is becoming a powerful manufacturing center. India's stockmarkets welcome foreign participation, and continue to mature.

Foreign investments, Economic development

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