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

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Congress Party- Restructuring of PCCs

January 15, 1977 policy have a role to play in the achievement of growth and distribution objectives; but it is unlikely that this role will be performed effectively without the establishment of an enduring public distribution network. For known and unknown reasons, implementation in this regard has been far from adequate; and one can only surmise why." Krishnaswamy's final point concerns the fact that substantial liquid funds have been channelled through the government budget us well as through public financial institutions to the private industrial sector in recent years, but it has shown up neither in larger employment nor in larger supplies of essential articles; the objectives of neither growth nor redistri- butive justice have hence been served by these flows; all that has resulted is a further accretion of inflationary pressures. The concluding sentence of his presidential address is worth ruminating over : "Inflation .. . is not so much a monetary as a social phenomenon; and its nemesis has to be sought at a fundamental level, that is, in changes reflected in the socioeconomic structure." Mohan Ram writes: IRAN'S decision to co-sponsor Prime Minister Bhutto's proposal for a Third World summit on economic problems is certain to cause dismay in several non- aligned capitals. The new-found support from Iran was the result of Bhutto's visit to Teheran on December 26 and 27 after the plan had been rebuffed by the 146-nation economic committee of the United Nations and after Pakistan had failed to get acceptance for it at the Mexico conference of developing countries earlier. Critics of the proposal are bound to see the Third World summit as a counter to the Colombo summit of the non-aligned countries in August 1976 into which Pakistan had failed to gain entry.

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