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Tata Engineering and Locomotive Co Ltd-Statement of the Chairman, Mr J R D Tata

by the factory from time to time. I need hardly add that their eminent services in these matters, backed by their vast resources and world leadership in glass technology, make their association with us indispensable for the foreseeable future for sustaining the high quality of the company's products and, incidentally, of its efforts for retaining and expanding its export mar- THE following is the Statement of Mr J R D Tata, Chairman, Tata Engineering and Locomotive Company Limited for the year 1970-71:

The Tata Iron and Steel Company Limited-Statement of the Chairman, Mr J R D Tata

The Tata Iron and Steel Company Limited Statement of the Chairman, Mr J R D Tata THE following is the Statement of Mr J R D Tata, Chairman, The Tata Iron and Steel Company Limited, for the year 1970-71:

T The Tata Oil Mills Company Limited-Statement of the Chairman, Mr J R D Tata

technology industry and Telco's record of growing exports in competition with the leading vehicle manufacturers of the world is an achievement which reflects great credit not only on those responsible for the design and manufacture of the vehicles but also on the effective sales campaign abroad of Tata Exports and their foreign agents. We shall make every effort to expand our exports further in the future. The expansion programme we have placed before Government, if it materialises, will enable us to play an even more significant role in the development of India's export trade.

Tata Chemicals Limited

Tata Chemicals Limited Speech of the Chairman, Mr J R D Tata THE following is the Speech delivered by the Chairman, Mr J R D Tata, at the Thirty-first Annual General Meeting of the Company held at Bombay, on November 19, 1970:

The Tata Iron and Steel Company Limited

The Tata Iron and Steel Company Limited Statement of the Chairman. Mr J R D Tata THE following is the Statement of Mr J R D Tata, Chairman of The Tata Iron and Steel Company Limited for the

Tata Engineering and Locomotive Co Ltd-Statement of the Chairman, Mr J R D Tata

Tata Engineering and Locomotive Co Ltd Statement of the Chairman, Mr J R D Tata THE following is the Statement of Mr J R D Tata, Chairman, Tata Engineering and Locomotive Co Ltd, for the year 1968-69.

The Tata Oil Mills Company Limited-Statement of the Chairman, Mr J R D Tata

Statement of the Chairman, Mr J R D Tata THE following is the Statement of Mr J R D Tata, Chairman, The Tata Oil Mills Co Ltd, for the year 1968-69:

The Tata Iron and Steel Company Limited-Statement of the Chairman, Mr J R D Tata

Statement of the Chairman, Mr J R D Tata THE following is the statement of Mr J R D Tata, Chairman of the Tata Iron and Steel Company Limited, for

Tata Chemicals Limited

Tata Chemicals Limited Statement of the Chairman, Mr J R D Tata THE following statement by Mr J R D Tata, Chairman of Tata Chemicals Limited, dealing with the Company's working for the year ended 30 June 1968, has been issued to the shareholders.

Tata Engineering and Locomotive Co Ltd-Statement of the Chairman, Mr J R D Tata

Tata Engineering and Locomotive Co Ltd Statement of the Chairman, Mr J R D Tata THE fallowing is the Statement of Mr JRD Tata, Chairman, Tata Engineering and Locomotive Co Ltd, for the year 1967-68: To The Members, The results of the Company's operations during the year under review confirm the' misgivings which I had expressed in my Statement to you last year. It has been a year in which inflation and higher costs wiped out some of our hard won gains, a year of unsteady demand for some of our products.

Tata Chemicals Limited

November 11, 1967 preference shares and even in equities has been supported by J D Choksi, chairman of the Investment Corporation of India, a large Tata investment company. He feels that the suggestion, if implemented, would divert a fair share of investi- ble funds into debentures and preference shares, providing thereby the beneficiaries of these funds with an increased return. While the Government may feel the consequent loss of support to its own securities, the growth of industrial capital would be promoted. Activities of the company during FROM THE CHAIR THE FOLLOWING statement by Mr. J K D Tata, Chairman of Tata Chemicals Limited, dealing with the Company's working for the year ended 30th June 1967, has been issued to shareholders. The Annual General Meeting of the Company will be held on Friday, November House", Bruce Street, Fort, Bombay

The Tata Iron and Steel Company Limited

was 0.1718. The "indirect estimate" of marginal propensity to save, which was arrived at by NCAER3 is also 0,17. However, their "direct estimate" of savings yields a lower marginal propensity of 0.145. The estimate of s arrived at by R K Diwan4 is 0.1958. These different estimates clearly suggest that Manners estimate suffers from an upward bias. The same objection applies to the method of estimating b. Moreover, there we face another difficulty of significant consequences. In order to find out the effective capital-output ratio, we must subtract the unutilised capital-stock from the existing capital-stock at the point of time under consideration. Manne's paper contains no indication that this necessary adjustment was done.

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