tag:blogger.com,1999:blog-19649274.post2587947598412757356..comments2024-03-27T17:16:12.789+05:30Comments on The Leap Blog: Capital controls on external commercial borrowingAjay Shahhttp://www.blogger.com/profile/03835842741008200034noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-19649274.post-36357590567803562852008-09-12T01:10:00.000+05:302008-09-12T01:10:00.000+05:30I am M.Tarun Kumar ,I am selected for a newly open...I am M.Tarun Kumar ,I am selected for a newly opening company for some presentations on this ECB and after a brief study on this ECB i am a bit confused , so please help me whether to trust that company or not as i am a fresher i am not able to judge my self plz help me my number is 09985051700. Waiting for ur replies or phone calls .....Anonymoushttps://www.blogger.com/profile/07327454601898422803noreply@blogger.comtag:blogger.com,1999:blog-19649274.post-86460007542772104282007-08-09T20:06:00.000+05:302007-08-09T20:06:00.000+05:30I agree completely with Ajay on this issue. India ...I agree completely with Ajay on this issue. India has taken a step back with the new policy announced this week. It just shows that the country is being governed by the RED FLAG/PEOPLE and unfortunately this will continue for foreseeable future. I happen to come from Calcutta and I am a investment banker and this policy is severely going to affect my livelihood. I may have to leave India forever due to this shift in reformist policy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-31397004845570065642007-08-08T14:40:00.000+05:302007-08-08T14:40:00.000+05:30This disturbing tendency to keep trying to resort ...This disturbing tendency to keep trying to resort to command-control expedients will not work in the current environment. Instead they will do much damage to the credibility and consistency of Indian policy-making in finance and keep players guessing about what new measure will come next. The answer to the problem being faced is not to restrict inflows or try to control them by category but open up completely on outflows. In short, stop playing around and open the capital account fully. At the same time we need to drop all preferences given to inflows from NRIs, drop all the various kinds of NRI deposit schemes etc. etc. and simply treat everyone's dollar in the same way as everyone else's dollar. These expedient measures simply point to total confusion about policy coupled with a rigid belief that somehow opening up the capital account would expose India to greater risk. In fact, measures such as these increase risks of policy failure substantially and should be eschewed. By this time policy-makers should have learnt that trying to cure with another distortion simply compounds the aggregate distortionary effect and does not solve anything.percymhttps://www.blogger.com/profile/01754099665219007858noreply@blogger.comtag:blogger.com,1999:blog-19649274.post-56861009737960733492007-08-07T22:27:00.000+05:302007-08-07T22:27:00.000+05:30No, for the major part, evasion of capital control...No, for the major part, evasion of capital controls is not provable in court. You have to be Burma to stop it. Once a country opens up, capital controls become ineffective - and this is not because the courts are weak.<BR/><BR/>It is not an accident that all mature prosperous market economies have an open capital account. It is not possible to enforce capital controls under a framework of law. (You're probably thinking of an authoritarian country, judging from the last paragraph of your comment. Luckily, that's not the country that we live in).Ajay Shahhttps://www.blogger.com/profile/03835842741008200034noreply@blogger.comtag:blogger.com,1999:blog-19649274.post-48700394753954208342007-08-07T22:12:00.000+05:302007-08-07T22:12:00.000+05:30The dodging of restrictions on overseas debt goes ...The dodging of restrictions on overseas debt goes on only with the tacit approval of the MoF or RBI. <BR/><BR/>If the govt was truly serious about stopping the dodging it could aggressively prosecute the issuers of such debt.<BR/><BR/>Nothing like a few nights in the company of Sanjay Dutt to deter investment bankers and promoters. <BR/><BR/>Whether of not the case can be won in a court of law is an irrelevant question. Given the glacial progress of court cases in India, a few week/months behind bars for some top bankers and promoters should act as a deterrent.Anonymousnoreply@blogger.com