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

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Pakistan- Two-Nation Theory Again

Annual Plans for 1971-72 without having to wait for the Central Budget proper to be introduced next May", But what is the relevance of this admittedly thoughtful provision of a paltry extra sum when State Governments, one after the other, have been coining up with yawning deficits in their budgets which will ultimately have to be made good by the Centre? Of course, the Finance Minister's statement contains the usual exhortation to the States to "observe the strictest fiscal discipline and adopt all possible measures to raise and conserve resources". Surely, by now we know enough to realise that these exhortations are no substitute for a careful review of Centre-State financial relations. On the whole the Budget statement thus leaves one with the unmistakable feeling that in the midst of all the talk of 'change' and 'a new beginning', the Government's approach to economic problems is still dominated by old and worn out ideas like incomes policy, quick-yielding projects, expansion of public sector, relief programmes to provide employment, and so on.

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