The Competition World

“The Right of Citizens for Time Bound Delivery of Goods and Services and Redressal of their Grievances Bill, 2011” is a step forward towards good governance.  The salient features of the Bill are: Right to Citizens It confers right on every individual citizen to time bound delivery of goods and provision for services and Redressal of grievances. Publication of Citizens Charter It requires every public authority to publish, within six months of the commencement of the proposed legislation, aCitizens Charter specifying therein the category of goods supplied and services rendered by it, the time within which such goods shall be supplied or services be rendered the name and addresses of individuals responsible as designated officers for the delivery of goods or rendering of services. Information and Facilitation Centre It requires every Public Authority to establish information and facilitation centre for efficient and effective delivery of services and redr...

Gross external debt, at a point in time, is defined as “the outstanding amount of those actual current, and not contingent, liabilities that require payment(s) of principal and/or interest by the debtor at some point(s) in the future and that are owed to non-residents by residents of an economy” (External Debt Statistics -Guide for Compilers and Users, International Monetary Fund (IMF), 2003). Original and Residual Maturity                           Original maturity is defined as the period encompassing the precise time of creation of the financial liability to its date of final maturity. Debt by residual maturity (or remaining maturity) includes short term debt by original maturity of up to one year, combined with medium to long term debt repayment by original maturity falling due within the twelve month period following a reference date. External debt is commonly expressed in terms of original maturity. ...