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

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Management Lag In Railways

February 28, 1970 Re 1 in Bombay and even higher in the districts! What is definitely odd, however, is that the Minister for Petroleum and Chemicals should suddenly get so agitated over prices of drugs when for seven years now the industry has been working under a Government-administered price control. Price control was introduced in 1903, when prices were "frozen" at the levels then prevailing without, however, any attempt to ascertain whether these prices were reasonable in relation to costs. The major purpose that price control served was to provide drug manufacturers, espe- cially the larger ones, with an excuse for maintaining their prices at the generous levels at which they were "frozen" and for holding off the customary cuts normally effected in prices of drugs which have been in the market for a length of time. As for drugs introduced after price control became effective, very liberal pricing policies have been followed by Government. One rough formula

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