22.16         ndian    onom
     disgorgement. Civil money penalties are punitive,      of dumping the importing country may impose a
     while disgo-rgement is about paying back profits       surcharge on such imports which is known as the
     made from those actions that violated securities       anti-dumping duty.
     regulations.
          Interestingly, disgorgement payments are not         Dutch DiseAse
     only demanded of those who violate securities
                                                            When an increase in one form of net exports
     regulations. In the US, anyone profiting from
                                                            drives up a country’s exchange rate, it is called the
     illegal or unethical activities may be required to
                                                            Dutch Disease. Such instances make other exports
     disgorge their profits. The money disgorged from
                                                            non-competitive in the world market and impairs
     the violating parties is used to create a ‘Fair Fund’–
                                                            the ability of domestic products to compete with
     fund for the benefit of investors who were harmed
                                                            imports.
     by the violation.
                                                                 The term originated from the supposed effect
                                                            of natural gas discoveries on the Netherlands
         DissAving                                          economy.
     The situation of higher current consumption over
     current disposable income by the households–the            Duty DrAwbAck scheme
     difference is met by withdrawals from the past
     savings (i.e., decrease in saving).                    The Duty Drawback Scheme (DDS) is provided
                                                            by the Government of India as a part of export
                                                            incentives to make exports competitive. Exporters
         Domino effect                                      get refund of the central excise (censat) and custom
     An economic situation in which one economic            duties on the inputs they use in manufacturing the
     event causes a series of similar events to happen      exportables. Those who are covered by the Duty
     one after the other. For example, experts believe      Entitlement Passbook Scheme (DEPS) are not
     that the falling of share indices around the world     covered by it. The rates are announced from time
     in early-2008 was a domino effect of the sub-          to time.
     prime crisis faced by the US economy. A similar
     case is cited from the mid-1996 when all major            Duty entitlement pAssbook
     stock markets crashed around the world due to             scheme
     the domino effect emanating from the South East
     Asian currency crisis.                                 The Duty Entitlement Passbook Scheme (DEPS)
                                                            is an export incentive scheme of the GoI under
         Dow-Jones inDex                                    which exporters get credit (pre-determined by
                                                            the Direcor General of Foreign Trade) on the
     The US share price index which monitors and            export value which they use in future imports
     records the share price movements of all compaines     thus neutralising all the taxes. No cash is given
     listed on the New York Stock Exchange (with the        (unlike the Duty Drawback Scheme). It has been
     exception of high-tech companies which are listed on   abolished by the GoI, w.e.f. October 1, 2011 after
     the nasdaq stock exchange). India has its equivalent   using it for 14 years – the WTO provisions do not
     in the BSE Sensex.                                     allow member countries to carry such schemes.
         Dumping                                               e-business
     Exporting a good at a price lower than its price       Using computers and the Internet to link
     in the domestic market. To neutralise the effects      both the internal operations (i.e., transactions