Articles by D P Sharma

spurred long-dormant British labour into activity once again. After the defeat of the 1984-85 strike it is for the first time that the working class has shown signs of regaining confidence. The issue has provided a focus for protest on a wide range of issues connected with the dismal economic situation brought on by Conservative policies. For instance, the Sunday march launched the Campaign for Jobs and Recovery under the Trade Union Congress initiative. While this campaign is yet to take off, a National Miners

Appeasing Textile Lobby D P Sharma THE supply-demand estimates for the 1992-93 cotton season (September-August) arrived at the Cotton Advisory Board's meeting on October 9 are no more than a subtle attempt on the part of the Textile Commissioner, the presiding deity, at reconciling the differing crop estimates put up by the members representing diverse interests with the views expressed by the representative of the powerful mill lobby receiving, as usual, special consideration which is perhaps why the CAB estimates are generally on the lower side.

Edible Oils: Need for Fresh Thinking D P Sharma REPORTS from all the major oilseeds producing areas in the country received till September 11 indicate good-to-ideal weather conditions for the healthy progress of the crops. If weather remains favourable till the harvest time and the withdrawal of the monsoon is slow as forecast by the meteorological department one could hopefully look forward to record kharif oilseeds production of well over 100 lakh tonnes

Rally Likely to be Extended D P Sharma THE stock market scene has undergone a profound change over the past few weeks. The market which presented a picture of unrelieved gloom seeking new lows week after week till the end of the first week of August has staged an impressive recovery. From a low of 2529.6 on August 6 the BSE sensitive index rose to a high of 3053.1 on August 24 and the National index moved up from 1152.1 to 1345.2. In a matter of just 11 trading sessions, the sensitive index registered a rise of 20.7 per cent, retracing 26 per cent of the decline from its all-time high of 4546.3 (April 2). The national index rose by 16.8 per cent, retracing 21.7 per cent of the preceding fall. (For details see the accompanying table.) It is worth noting that the current rally has carried the BSE indices back to the levels where they stood at the end of May In other words, the market has retraced the entire decline since the beginning of June till August 6. If the extent of recoupment of ground lost during the fall from the April high looks rather modest it is because the preceding decline had been so steep

COTTON Mill Lobby Scuttles Cotton Exports D P Sharma THE cotton crop prospects have undergone a profound change following copious rains in all the cotton growing areas in the country since about the beginning of the second week of July. Initial anxiety emanating from late and indifferent start -of the monsoon has given way to optimism tinged with caution stemming from the unpredictable nature of the weather during the crucial weeks ahead. Since cotton fetched higher prices this season than during 1990-91 till about the middle of July and prices ruled substantially above the support prices there is no reason why the area under cotton should be less than in 1991-92 except in some isolated tracts in Maharashtra and Madhya Pradesh where sowings were hampered by adverse weather conditions. However, since cotton is cultivated mainly under rain-fed conditions and there has been no significant breakthrough in dry farming, the final crop out-turn and the quality of cotton continue to depend on the pattern of rainfall distribution.