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

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Argument without Knowledge

FOR some time, Government or, rather, the Finance Ministry has been suggesting that what India needs is non-project aid. There is little basis for this cacophony. Machinery and equipment imports arc still estimated at about $400 million per year, in spite of the Plan holiday which has placed a near- embargo on new projects. Even if the demand today for foreign aid is for non- project aid, there is no reason to conclude from it that the country has become permanently independent of machinery imports. When the development effort is resumed, many gaps would be found in plant-fabricating capacity, particularly in supplying equipment for new industries, eg, petrochemicals, electronics, machinery for automobile manufacture, etc.

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