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

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Self-Reliance, Recent Economic Policies and Neo-Colonialism

Self-Reliance, Recent Economic Policies and Neo-Colonialism IN his 1992-93 budget speech, the finance minister underscored three points. First, he said that the recent economic policies of the government would help to promote self-reliance, growth and better employment opportunities in the longer run (though he did not spell out over what period these objectives would be attained). Second, he said that we would overcome all hurdles and difficulties to attain the ideals enshrined in the Constitution, and the dreams of Mahatma Gandhi, Jawaharlal Nehru, and other 'founding fathers' of the Indian republic Third he said these dreams, as well as the goal of self-reliance, can be attained only through the 'globalisation' of the Indian economy and its integration with the world economy. It is not clear how the second proposition fits in with the third, and how at all the first proposition is consistent with the second, but these points will be dealt with later.

1992-93 Budget and Economic Policies

Arun Ghosh Instead of empowering the states and the local authorities, the budget for 1992-93 seeks to leave the direction of the economy to the organised financial institutions and to foreign capital primarily and to large and medium industries to some extent. The budget is a continuation of the attempt to 'globalise' the economy, no matter that such globalisation may benefit only some 10 per cent of the population at best.

Education for All-The Financing Problem

Education for All The Financing Problem Arun Ghosh While much of the reordering of education can be brought about without increasing the totality of funds currently deployed for 'social services', it should be possible to increase the allocation for education significantly by cuts in unproductive government expenditure on defence and on internal security, as well as the imposition of austerity in government functioning.

South-South Co-Operation Changing Perspectives

In the last 38 years since the concepts of non-alignment and economic co-operation among the developing countries were first mooted at Bandung in 1954, much water has flowed under the bridge; and in the last eight months in particular there has occurred in India a very perceptible drift away from the ideals and concepts once propounded by Jawaharlal Nehru. The speeches made at Caracas in last November by Robert Mugabe of Zimbabwe, Mohamad Mahathir of Malaysia and Narasimha Rao on behalf of India were most revealing in this context.

Income, Taxation, Investment and Black Money

The Quick Estimates of national income for 1990-91 highlight the fact that the growth of income—other than in the agricultural sector (which is tax-free anyway)—has been very significantly in the form of untaxed income or black money. This has vital implications for economic policy-makers and for the current efforts at the restructuring of the economy. 

A Glimpse at a Public Sector Enterprise

A Glimpse at a Public Sector Enterprise THE 'restructuring' of the public sector is today high on the agenda of the government of India, For a change, let us take a look at the functioning of a 'profitable' public sector enterprise (PSE), and see if we can draw any lessons from the modus operandi of the profitable unit, so that we can decide on how one can set about handling PSEs.

Travel Diary A Rajasthan Scenario

Arun Ghosh JOURNEYING through Rajasthan in winter is always a pleasant experience. The weather is crisp and balmy

Management of Economy and IMF Conditionalities

The conditions imposed by the IMF on the government of India, especially those set out in paragraphs 28 to 33 of the Memorandum of Understanding with the IMF laid before parliament by the finance minister, go far beyond those normally imposed by the IMF for an 'upper tranche' stand-by credit. Adherence to these conditions will drag the country deeper into the morass of dependence on external support.

Marxism, Socialism and Democracy-Issues Relevant for India Today

Marxism, Socialism and Democracy Issues Relevant for India Today Arun Ghosh What precisely are the lessons to be learnt by India generally, and the Left parties in India in particular, from the recent momentous developments in Eastern Europe?

Political Economy of Structural Readjustment

Political Economy of Structural Readjustment Arun Ghosh What precisely is the nature of the structural adjustment being envisaged, for which we are now applying to the IMF for a loan of $ 5 to 7 billion? This is a vital question because once we have accepted the IMF conditions applicable to the Enhanced Structural Adjustment Facility, we would have embarked on a policy which would in many ways be irreversible.

Can a Tight Monetary Policy Make Up for a Weak Budget

Can a Tight Monetary Policy Make Up for a Weak Budget?
Arun Ghosh The credit policy just announced now appears to be concerned primarily with containing inflation, not with providing adequate credit for the 'restructuring of the industrial economy'. For, the impact of the credit policy will be to raise the costs of production of infrastructure services and of key intermediates thus increasing industrial costs generally. This in turn would adversely affect exports of all manufactured goods.

An Indigenously Oriented Pattern of Restructuring

An Indigenously Oriented Pattern of 'Restructuring' Arun Ghosh The Indian economy is doubtless in need of restructuring. But what are the priorities in our endeavour to restructure?


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