ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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THE ECONOMY- Economic Controls and the Financial System

THE ECONOMY Economic Controls and the Financial System S Kumarasundaram THE Narasimham Committee which is presently examining the feasibility of substituting physical controls over the economy by a system of financial controls by the Indian banking and financial institutions has a delicate responsibility assigned to it. Its areas of inquiry can extend to all the physical controls installed (or augmented) during the past three decades of planning. How else can the Committee identify their substitu ability by financial controls? The subject matters of its inquiry are of such importance that its deliberations are likely to attract more than ordinary interest. Though it may not be readily apparent, the Committee's recommendations will have implications beyond the realm of economics and economic planning. A debate on these issues has begun and will continue. This note is one contribution to the debate. Some of the wider issues raised by the Committee's terms of reference are commented upon first.

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