LIQUOR TRAGEDY-Who Is to Blame

Neglected Factor A LOT of prominence has been given to the disclosure that inflows under the two immunity schemes announced in the budget speech, one covering foreign exchange remittances by NRls to resident Indians, the other covering foreign currency denominated investments made in India Development Bonds, had added upto $ 680 million by the first week of December. The anticipation, officially inspired, is that by January end, when the schemes are supposed to close, between $ 1.5 and 2 billion would have been raked in on their combined account. The rise in the country's foreign exchange reserves to a level beyond Rs 9,000 crore (approximately $ 3.5 billion)