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

A+| A| A-

Barking Up the Wrong Tree

Barking Up the Wrong Tree ON THE EVE of his departure for Japan, Finance Minister Morarji Desai reiterated his intention to evolve a comprehensive incomes and prices policy to tackle the difficult economic situation marked by budgetary stringency, the continuing price spiral and the industrial recession which is deepening. He was almost driven to make this statement by the threatened general strike planned for September 11 against his proposal to freeze the dearness allowance of Central Government employees till March 31, 1968. The statement was made at an informal chat with pressmen immediately after a heated debate in the Lok Sabha on the implementation of the Gajendragadkar Commission's report on the DA claims of Central Government employees. It is significant that in the course of the debate Morarii merely repeated his resolve not to make the DA payment in cash since the sum involved, accord- tng to him. would be as large as Rs 175 crores if the claims of Central and State Government employees and employees of local bodies were to be met. Pumping of that much money into the economy at this stage would push the inflationary pressures to unmanageable proportions so that he would rather risk a strike by Government employees than give in to their demand for DA.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Back to Top