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

A+| A| A-


THE basic premises underlying the Budget for 1975-76 are betrayed, in a short sentence very early in Part A of the Finance Minister's speech. After referring to the impact of recent internal and external economic developments on the living standards of the people and on the pattern of real incomes in the country, the Finance Minister goes on to say, ''What is even worse is the persistent rise in prices which has eroded the capacity to save and thus imposed a painful constraint on the flow of investible resources so urgently needed to sustain our plans for a better future" (emphasis added). This is the good old division of society into savers and non-savers. The 'savers' are those who provide the wherewithal for investment and growth

To read the full text Login

Get instant access

New 3 Month Subscription
to Digital Archives at

₹826for India

$50for overseas users


(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top