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

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Charan Singh s Shrewd Polities

January 20, 1968 sible over time, flows of capital to particular projects may be jerky in the attempt to keep within the annual ceiling. To take India's case, the coming years were expected to bring in substantial new foreign investment in the petrochemicals range. Though alternative sources of foreign finance may still be available from other industrial countries, the room for competitive bargaining between countries would be reduced. Second, with the American tendency to take Presidential appeals seriously, there is every chance that tourist travel might be considered 'anti- American'. Air India's trans-Atlantic traffic might suffer and the country's earnings, both official and non-official, from tourism may be reduced. Third, till now the US Administration's proposals for aid used to be generally pared down by the Congress, but now the Administration itself will initiate a smaller scale of aid.

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