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

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Strengthening the Status Quo

NEW DELHI Strengthening the Status Quo B M AFTER prolonged hesitation and drift, the government is showing signs of evolving some sort of an economic policy frame. There is no well-defined statement and evidently none is intended to be presented. The budget speech of the Finance Minister later this month may, however, betray the new directions. The reluctance to present anything clear-cut by way of a policy statement no doubt stems from the awareness that the populist commitments and pretensions of the past would then be seen to have been mere slogans. The trend of policy now is such as would not win public applause if it were to be frankly outlined and stated. Therefore, the line adopted for purposes of public consumption has been to strike a posture of confidence and otpimism. The slight seasonal fall in the wholesale price index has been made much of as if it were a consequence of the government's anti-inflationary policies. Indira Gandhi, at the inaugural function of the Khetri copper project, went so far as to claim that her government had handled the economic crisis more effectively than many other governments and that conditions in India were already better than in other countries. Her colleagues in the government

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