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

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Railways Continue to Slip

price rise as a result of devaluation, by large expenditure on relief works which inevitably included in an election year an clement of pork-barrel- ling and the upward revision of salaries and allowances of government employees. Thus the whopping deficit in' the revised estimates, despite the intent of the budget, and the runaway credit expansion by the banks to the private sector in the current busy season, despite repeated Reserve Bank directives, are all of a piece.

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