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V M DandekarSubscribe to V M Dandekar

From External Recovery to Internal Bankruptcy

From External Recovery to Internal Bankruptcy V M Dandekar The focus being on the external payments crisis, there was less awareness of the fact that there was an equally critical situation in respect of internal payments; in fact the situation today is worse than it was four years ago. The 1995-96 budget marks a continuation of the slide down.

Role of Economic Planning in India in the 1990s and Beyond

The Five-Year Plans have made a distinction between the public and private sectors from the very beginning. The plan targets have been prescriptive for the public sector, the Planning Commission acting as a clearing house for many crucial economic decisions taken at different institutional and regional levels, for ensuring inter-sectoral and inter-temporal consistencies by the use of a formal Economic model'.

Budget 1994-95 Fiscal Aspects and the Real Economy

It is to the credit of the present finance minister that, even as a member of a minority government, he decided to face the facts, accept the inevitable and venture to bring back the economy to normalcy by a twin strategy of fiscal discipline and structural reform. Quite understandably, the finance minister thinks that his strategy has been vindicated and, naturally, has persisted and pursued the same path in the budget for 1994-95. Therefore, it is only fair that we should judge the policy and hence the budget not on grounds of ideology but on performance.

Assets and Liabilities of Government of India

Since 1982-83, the liabilities of the Central Government have shown an excess over its assets and the excess has been steadily increasing. In 1993-94 almost 40 per cent of the Government's liabilities are not matched by any assets. This is a matter of serious concern.

A Complacent Budget

V M Dandekar Though the general direction of the New Economic Policy appears to be right, two critical parameters of the economic situation, namely, the fiscal deficit and the balance of payments deficit, have remained as serious as they were two years ago. The finance minister is aware that fiscal imbalances are still large and that the economy is still vulnerable to external shocks and that, therefore, there is no room for complacency. Nevertheless, by exuding so much quiet confidence, he is creating a general mood of complacency Reduced customs and excise duties have added to this mood, creating expectations that next year not only will these indirect taxes be further reduced, but also direct taxes will be reduced. This may be politically wise in the short run, but may prove disastrous in the long run, not much longer than the end of the century.

The Economy and the Budget

V M Dandekar The finance minister says in his budget speech that the governnment "is deeply conscious of its special responsibility to protect the poorer sections of our society, especially in rural areas, from the burdens that would other- wise be forced upon them as the economy goes through the process of macro-economic stabilisation and economic restructuring". One suspects that the government is more deeply conscious of its special obligation to protect the establishment, which includes organised labour, especially in urban areas, from the burden of the rural poor.

Reform of Higher Education

Reform of Higher Education V M Dandekar In 1774 Adam Smith, in an article indicting the system of higher education in his days, impliedly suggested two changes: one, that the salary of a teacher should be only a part of his emoluments, the greater part arising from honoraries or fees of his students; second, that the students should be left free to choose not only the college or the subject, but the teachers who should instruct them. If we can work such a system of higher education on these principles, it will make the teachers more accountable, the students more responsible and the expenditure more fruitful THE reform of higher education has many aspects. I shall consider only two of them: First, how to make the teachers in the colleges and the universities more accountable for their duties, particularly towards their students. Second, how to make the students more responsible for their studies. l shall consider them in that order though, as we proceed, we shall see that the two are connected.

PERSPECTIVES

Writing about Hindu-Muslim Riots in India Today Gyanendra Pandey The dominant nationalist historiography that insists on the totalising standpoint of a seamless nationalism needs to be challenged not only because of its interested use of categories such as 'national' and 'secular' but also because of its privileging of the so-called 'general' over the particular, the larger over the smaller, the 'mainstream' over the 'marginal

Search for an Employment-Oriented Growth Strategy-A Discussion

Search for an Employment-Oriented Growth Strategy A Discussion A notable feature of the debate on the Eighth Five-Year Plan has been the concern over the deceleration in the growth of employment in recent years and the quest for an employment-oriented growth strategy. The articles that follow make up a discussion of this theme. All the articles, with the exception of the one by J C Sandesara which critically reviews a draft of the Planning Commission's Approach Paper' on Eighth Plan, are responses to the Economic Advisory Council's Interim Report titled Towards Evolving an Employment-Oriented Strategy for Development in the 1990s'.

Economic Growth and Political Equilibrium

Economic Growth and Political Equilibrium V M Dandekar An economy is not a homogeneous entity. It consists of a number of sub-economies engaged in unequal exchange. Within each economy, the production is organised in firms engaged in a competitive struggle to maximise their rates of surplus. Within each firm, the owners of its means of production struggle for a larger share of the surplus. It is through this struggle between the sub-economies, between the firms, and between the owners of the means of production, that the economy moves forward from one period of production to the next. If, equilibrium is a state of tranquillity, economic growth is not a condition of equilibrium.

Population Front of India s Economic-Development

Population Front of India's Economic Development IN response to my article 'Population Front of India's Economic Development',' two comments have appeared, one by P H Reddy2 and the other by V Bhate and S Muley.3 In the following, I shall try to reply to points directly concerning my article.

Bovine Economics

Bovine Economics V M Dandekar Bovine Economy in India by A Vaidyanathan; Oxford and IBH, Bombay, and Centre for Development Studies, Trivandrum, 1988; pp 209, Rs 96.

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