Industrial Relations- The Sowing and the Reaping

October 14, 1972 Bank. A great sigh of relief has also been heaved now that the US House of Representatives has passed the bill authorising American replenishment of IDA funds. It is on American replenishment of its resources that IDA's prospective activities are crucially dependent. If the Americans refuse to shell out funds, the rest of the Western nations, Japan included, will also play truant. If the USA behaves, the others will follow suit. In any case, it is the Americans who are supposed to provide the bulk of the replenishments. Unless the American authorisation comes through, India, which has been receiving roughly two-fifths of the aggregate disbursals of the Association, will experience a sharp drop in external accommodation. The hurdle of the House of Representatives having been crossed, there is a pathetic waiting and watching for what the US Senate will now do.