Capacity Utilisation, Investment Pattern and Income Growth

and Income Growth IN his article "The Economy: Cur- rent Situation and Policy Problems" (March 20, 1971, pp 663-78), V V Bhatt focuses attention on what he calls (he curious dilemma facing policy-makers in India today. He points out that "The investment rate cannot be stepped up with the shortage of resources and decline in external assistance; resources cannot materialise via fuller utilisation of productive capacity in the industrial sector without an appropriate rate of investment." Bhatt has not explained in his article