ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Struggle for Survival in the South

development process. Bank credit, which is to be allocated by the National Credit Council however, forms but a small fraction of the huge volume of non-institutional and non-banking credit circulating in the economy. The latter is outside the pale of control and regulation by the monetary authorities. Further, the magnitude of credit required to finance even the priority sectors and targets, which themselves are liable to frequent changes by every shift in political pulls and pressures, is colossal as compared to the disposable resources of commercial banks. The crisis of 'resources' which has been hamstringing our planning effort is not peculiar to Government alone. Banks are also facing the same problem. The rate of growth of their deposits has slowed down from 17 per

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