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

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Some Belligerence, Much Sense

Nishtar STATE monopoly in cotton being almost a fait accompli, the chairman of the Indian Cotton Mills' Federation, Radhakrishna Ruia, has appealed to Government to arrange matters in such a manner that the expertise developed by the trade by hard work and experience of generations is allowed full play and is properly harnessed while canalising imports through a state agency. Government's proposed .scheme does envisage such association and if Government were to change its mind now, Radhakrishna will have only his young brother Madanmohan

No Breakthrough Yet

No Breakthrough Yet Nishtar REPORTS from all the oilseeds producing areas indicate almost ideal weather conditions. Indeed, the monsoon has been unusually kind this year till now. It started early and its subsequent progress has been very satisfactory. As many as 27 of the 31 meteorological subdivisions that comprise the / Indian subcontinent have reported excessive or normal rainfall as compared to 14 in the same period last year. The major groundnut crop is progressing well, and Saurashtra which accounts for nearly a third of the country's output expects a record crop. The prospect of another good agricultural year is certainly very pleasing. One must, however, keep one's fingers crossed because many crucial weeks still lie ahead; it is the August- September rains which decide the fate of the groundnut crop.

In Battle Array

In Battle Array Nishtar NEVER before had cotton men got together in such large numbers as they did at the two-day conference in New Delhi, on June 22 and 23, to protest against proposals for state take-over of internal trade and import of cotton, the ban on hedge trading, and discrimination in the matter of credit dispensation. Over 2,500 traders, including some representatives of growers and millowners, attended the conference to present a united front in the battle for survival. In his presidential address, the EICA chief, Madanmohan R Ruia, stated that the proposed measures were based mainly on political considerations and had no economic justification. He set the tone for the conference by declaring that "we are not willing to give way to a hungry group of politicians and bureaucrats wanting to take away our all "on the false pretext of saving the fanner and consumer from the socalled exploitation of the trade or mid dlemen. The delegates who spoke on the occasion let it be known in no inistakable terms that they would not succumb to Government threats and would "fight and fight" against the nationalisation of the cotton trade.

New Peaks Scaled

HYV Programme: Variables that Matter A Comment G Parthasarathy D Haranatha Babu IN the context of the 'Green Revolution' there has been a controversy whether the existing agrarian structure, in particular the prevalence of insecure tenancy, is conducive to the spread of the new technology'. One view has been that the present defective tenurial system blocks the progress of adoption of the new technology. P K Mukherjee in his recent article "HYV Programme

Towards Unexplored Territory

not merely passive purveyors of knowledge but spearheads of social change. Even on the racial problem it is the universities which have taken the lead in challenging established attitudes.

Agonising Dullness

integrity and a sense of civic obligations. Social responsibility of business is not something to be just talked about from platforms and in seminars or something to be forgotten after framing so-called codes of conduct; it needs to be honestly discharged in practice. To prove its bonafides, management should begin with a drastic reduction in its remuneration and perquisites by, say, at least 50 per cent. As it is, the MARKETS IT has been one more week of agonising dullness for stock markets though trading has not been altogether without some bright spots. With the temporary 'freezing' of over Rs 20 crores of investible funds in the new issues, a decline in turnover on the stock exchanges was not unexpected. This apart, there was very little in the week's news which could give the market a big push either side. Corporate news, though encouraging on the whole, provided a mixed fare. Most of the time equities drifted aimlessly with a subdued tone it was only near the weekend that the market turned steadier on selective support, with LIC named us one of the buyers. However, despite the weekend rally, net changes over the week showed a mixed pattern, reflecting the prevailing mood of indecision.

Soft on Speculators

combination of what research has shown as suitable for research based and marketing-based organisations. Many organisational studies have shown that, by and large, such organisations need highly sophisticated patterns of role-relationships, sensitivity on the part of senior executives for interpersonal relationships and complex systems of mutual influence among peers and superiors and explicit processes of decision making based on such influence.

Tears for Cotton!

payments and the pace of construction of major projects in centres like Rour- kela. These fluctuations had disappeared in the case of offices opened since 1959 and the share of deposits from project areas to total declined from 50 per cent in 1955 to 33 per cent in 1963. Besides, even after a branch was started in a place by a particular bank a second office of another bank also was able to flourish suggesting the different types of business in which these banks had specialised and the possibilities that exist of diverting to the banking system the resources that might otherwise have been inadequately mobilised by the existing banks in those places.

Needed Firm Action

And Now, a Radio University! Eunice de Souza V K R V RAO'S proposal to set up an Air University and his ideas for celebrating International Education Year in 1970 indicate that India is in for another jamboree of the kind inflicted on the country during the Gandhi Centenary Year. There is to be a rash of seminars on subjects such as Vinoba Bhave's "significant contribution to the development of Indian languages" and country-wide celebrations of the birth centenary of Maria Montessori, None of this is anywhere near the crux of the matter: is the content of our education relevant to the needs of a developing society and is our system adjusted to serving them? The Education Minister's Radio University scheme has been inspired by Britain's success in setting up a similar scheme but the fact that he says the proposal will be discussed in yet another seminar in Bombay later this year shows that little thought has gone into what this kind of university requires and whether it is really a sensible way of meeting the needs of higher education in India. :. The aim of Britain's Open University, as it has been called, is to offer courses at both graduate and post-graduate levels, without requiring any formal entrance qualifications, to people who are, for reasons that have nothing to do with their intellectual abilities, denied access to such courses through other channels. The great majority of the students

On the Retreat

functions tend to get specialised and this tendency rather needs to he encouraged than otherwise, in the interests of efficiency. The device of rotating all members in the Manager's post has to he rejected on the same count.

Moonward Bound

Moscow and Washington. It seems that this is a major reason why China and India are not talking. Talks with China will have to come as a part of an independent reorientation of our foreign policy. This does not mean that an anti- Soviet or an anti-American posture is a precondition for talks with China. But it does mean more tangible acts of independence of the super powers

Set for New Peaks

interest income without bearing any of the risk when the undertaking is not making profits and, as soon as its profits grow, of converting the loan into equity so that they may get a share of profit. As one of the participants cynically remarked, perhaps, in times like the 1968-68 recession, when equity investment became risky and non-yielding, Government might ask for the right to reconvert equity into loan. Finally, would not conversion of loans into equity entail locking up of financial institutions' loanable funds in risk capital for long periods,with the result that the resources will cease to rotate?


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