The Dollar Devaluation and India's Balance of Payments Charan D Wadhva Samuel Paul This paper examines some of the consequences of the devaluation of the US dollar of February and the decision of the Government of India on the exchange rate of the rupee on the major items of India's Balance of Payments. The problems and opportunities emerging from the present devaluation of the dollar are analysed.
Joint Sector: Guidelines for Policy Samuel Paul S K Bhattacharyya S C Kuchhal This paper argues that the joint sector needs to be encouraged because of the significant role it can play in the social control of private industry, in the promotion of industrial growth, in the mobilisation of resources, and in broad-basing of entrepreneur ship. Indeed, joint sector enterprises may be permitted in all industries which are not reserved exclusively for the State or the small-scale sector, and the sector can be defined without modifying the Industrial Policy Resolution of 1956.
Samuel Paul THE "Garibi Hatao" slogan has built up substantial pressures in political, academic, and administrative circles to develop viable new approaches for uplifting the poorer sections of Indian society. The purpose of this paper is to emphasise that in this concern for new programmes, we should not neglect the impact of some of our existing major programmes on income distribution. One such programme is government financed housing which seems to provide subsidies, implicit and explicit, to different sections of society. It is argued below that an equitable and rational policy on housing subsidies is called for if Garibi Hatao is to be a meaningful programme.
This paper reports the results of an investigation regarding the feasibility of predicting short-term trends in industrial investment in India through use of anticipatory data.
capitalist than a 50-acre holding cultivated extensively, growing say rain-fed millets.
Grouping by size blurs scale effects in the following way. Take Table 1, the data on labour-hiring grouped by farm size. It may be that there a re some intensively cultivated, primarily wage-labour based (i e rich peasant) holdings of loss than 5 acres, which raise the average value of y for this size-group; while there are some extensive, primarily family labour-based (i e middle peasant) holdings of more than 10 acres which lower the average value of y for the more-than-10 acres size-group. The table would then understate the range, of variation of y, and therefore understate the extent of differentiation within the peasantry. The same data grouped by value of output, on tho other hand, would show a larger range of values of y, and give a more accurate idea of the differentiation.4 (3) (a) Mow do I "calculate surplus value created by wage labour considering that there is inevitably a large proportion of family labour going into production?" In my sample the top 1/3 of holdings (each producing output value at Rs 1 lakh or more) used no family labour at all, while for others the number of farm servants alone (excluding casual labour) exceeded family workers by multiples of 2.5 or more, the average number of farm servants per holding being 8. For the holdings with annual value of output of less than Rs 1 lakh, a small element of return to family labour is included; in short the rates of surplus value increase even more sharply with scale than my table indicates.
time of the 1967 general elections because of their common support to anti-cow slaughter movement. For an analysis of the relationship between local Arya centres and political parties, see my paper
number of scientists and engineers for exploration and assessment. But our geological personnel suffer the highest percentage of unemployment among post-graduate scientists. Geological organisations showed the highest (25 per cent) proportion of unfilled vacancies. 5 Paradoxically again, we have given over major tasks of mineral and ground water surveys to foreign companies.
Performance INDUSTRIAL Organisation as a field of specialisation in economics owes a great deal to the pioneering work done by Edward Mason, a distinguished Harvard economist. Mason's contributions have not been limited to industrial organisation. In the Fifties, he shifted his attention to the study of economic development where again he has left an indelible mark. Harvard's emergence as a major contre of research and training in development economics is due in large measure to Ed Mason's leadership. The book under review is a collection of articles written in Mason's honour by a group of his distinguished students on selected aspects of industrial organisation and economic development.
The significant rise in Indicts steel exports in recent years was undoubtedly facilitated by the industrial recession. With the onset of domestic revival, exports have begun to decline. Yet, in the long run, steel exports may be worth encouraging. A continued export programme can be sustained only if adequate capacities are built in to produce those categories in which we are most competitive.
Social and economic systems have divergent subsystems which wilt work together effectively only when they are linked by an interface that ensures compatibility between them. Often, the individual subsystem by itself may be superb in its design, structure, and contents; and yet the total system may fail to work optimally because the interaction between, or the synchronisation of, the constituent parts has been neglected. Neglect of the interface can be costly in terms of the performance of the total system.
Samuel Paul This paper seeks to apply cost-benefit analysis to evaluating institutions set up for imparting management education.
The major conclusions of the paper are twofold:
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