ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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KERALA- Marriage of Convenience

60 per cent of whose annual turnover falls under the three stipulations taken together can retain ma- jority foreign equity provided they export a minimum of 10 per cent of their production. If their export is 40 per cent of production but they do not fulfil any of the other requirements they can still retain majority foreign holding. What is more, even these written down, new guidelines do not exhaust the possibilities altogether. The visiting delegations have been further assured, formally and informally, that in the application of FERA regulations there will be room for negotiations and negotiated arrangements, The painstaking work of Indian business representatives and government officials and their discussions with for- eign delegations have thus led to a understanding on both sides. The joint statement at the end of the Japanese-Indian talks specifically de- clared: "The Japanese delegation was impressed with the clarifications given about the measures recently taken by the government of India to simplify and expedite the clearance procedures in regard to foreign investment and policy changes which have been made to provide additional fiscal and monetary concessions." Similar views and sentiments have been expressed by others, notably the leader of the US delegation, Orville Freeman. The Indo-US Business Council has now actually got down to hard-headed business by setting up task forces to deal with various problems in practical terms. The improvement in the climate for foreign investment, it is confidently asserted by Indian foreign business interests has been achieved. The task now is to clinch business deals.

KERALA-Troubled Waters

payment to start massive public works programmes which will build development assets as well as give additional employment and generate new incomes in the countryside. He has strongly deprecated the tendency to hoard foodgrains as well as foreign exchange reserves merely as insurance against a setback in the future even though these hoards are exercising a strong inflationary influence in the economy. The ideas thrown up by Jha are shared by many influential circles in the government and they appear to be quite sensible as a starting point for a more positive and dynamic approach to the management of the economy. But they have not yet been fully processed in the government and have not found due endorsement, in a finished form, as government policy.

KERALA- Shifting Balance

KERALA Shifting Balance Apararka THE Emergency and the fact that the Congress party is quite clear about the need to prevent a CPM-led Ministry in Kerala seem to have convinced the Kerala Congress leaders that they are Congressmen after all. They are expected soon to rejoin the parent party, and two of their leaders, K M George and Balakrishna Pillai, are tipped for ministerships while K M Mani is in line for the Speakership. In every district, Kerala Congress workers are to be absorbed into the Congress en masse.

KERALA- Election Calculations

Election Calculations Apararka WITH the elections over in Gujarat, the focus shifts to Kerala, where the Assembly elections are clue in September. For the Congress, Kerala is a major test; if it can succeed there, it can he confident of doing well almost anywhere else For, all that makes the Congress unpopular throughout India echoes louder in Kerala, Nowhere else in the country are the eruptions that result from the social system of uglier proportions than here

KERALA- Petty Politics

Apararka KERALA, the state which is reputedly highly politicised, has today become the scene of petty politicking. Politicians, scurry around and shuttle between here and Delhi, and are subject to severe oscillations of hope and despair over issues that are basic only to their own interests.

KERALA- Election Antics

November 9, 1974 KERALA KERALA is one state where the people have not become habituated to Congress rule, and the main opposition to the Congress in the state, the CPM, is anxious to ensure that the next government will be one dominated by itself. At present, indications are favourable to the short-term success of the CPM and its allies. This is less because of any dynamic initiatives on their part than because of splits in the ranks of their opponents.

Financing Growth

Financing Growth Apararka Studies in Capital Formation, Savings and Investment in a Developing Economy, edited by P C Malhotra and A C Minocha; Somaiya Publications, Bombay, 1971; pp 256 + viii; Rs 25, THIS book is a collection of papers in the subject-matter indicated in the title. The subject-matter leaves scope for an interesting collection of articles dealing with practical aspects of financing growth. But what we have is a hotchpotch of assorted papers that range in quality from fair to poor. The contributors include P R Brahmananda, S G Tiwari, Anand Chandavarkar, D R Khatkate, Nigam and Panchamukhi, In what follows I will briefly analyse their contributions.
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