ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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it is claimed, should be anywhere between Rs 86,000 crore and Rs 91,000 crore at current prices. The revision in the outlay has been necessitated, according to the FICCI, by inflation and the assumption that the private corporate sector has to grow at 10 per cent per annum m order to sustain a targeted rate of growth of 7 per cent in the core sectors of the economy. This latter assumption has no basis. The FICCI paper goes on to say that since 70 per cent of all corporate investment is financed through internal surplus generation, ways will have to be found to increase the profit rate of the private corporate sector. The paper lists ways to enhance the internal surplus position of companies like reducing the rate of corporate taxation, linking depreciation with replacement cost, restoring the investment allowance scheme, increasing debt-equity norms, etc. The government has already reduced rates of corporate taxation, liberalised rules for depreciation, etc, in order to enhance the profit rate of the private corporate sector but this is not reflected in balance sheet-based calculations of profit rates. It may indeed be the case that the private corporate sector is siphoning off funds into registered firms that are mostly selling agents and trading concerns which act as institutional cover for the operation of black money NUCLEAR POWER Selling Campaign THE newly-constituted Nuclear Power Corporation has drawn up a 15-year plan to generate 10,500 MW that is, a tenfold increase of current capacity, and is envisaging an investment of Rs 10,000 crore The NPC has an authorised capital of Rs 2,000 crore and will be in charge of the design, construction and running of nuclear power plants According to the chairman, the setting up of the corporation will facilitate it to achieve two objectives, ensuring high operational efficiency of the power units and the completion of new projects expeditiously In other words, the setting up of a corporation is a big step towards achieving the 21st century nuclear Utopia.

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