Tax Havens Can de-Stabilize our Financial Markets

The recent disclosure on the second quarter growth rate for the financial year 2009-2010 has brought lots of cheer among policy planners and investors. Quarterly GDP at factor cost at constant (1999-2000) prices for Q2 of 2009-10 is estimated at Rs. 8,34,780, as against Rs. 7,73,850 crore in Q2 of 2008-09, showing a growth rate of 7.9 per cent over the corresponding quarter of previous year. It is also to be noted that the GDP at factor cost at current prices in Q2 of 2009-10, is estimated at Rs. 12,79,500 crore, as against Rs. 11,75,633 crore in Q2, 2008-09, showing an increase of 8.8 per cent ……Continue……

 

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