Not by Incentives

BUSINESS Not by Incentives THE amount of new capital raised is said to be an indicator of the health of the economy, or more specifically of the corporate sector. By that token 1975 was the year of take-off, with capital raised through new issues touching Rs 97.8 crores against Rs 80.2 crores in 1974, but the flight was not sustained in 1976 when the amount declined to Rs 84.1 crores. The trend reflected by these data from the annua] report of Harkissondass Lukhmi- dass (HL) is reinforced by the updated picture presented by The Economic Times (ET): capital raised through new issues including debentures and rights shares rose from crores in 1975-76 but declined to Rs