College Teachers Struggle-Failure of Leadership

infections. The recurrence of such problems may increase and be hard to deal with later.
Similarly, once demand recession begins manifesting in a major way, orders on ancillaries and the small-scale sector would decline rapidly. Before the organised sector lay offs begin, many in the unorganised sector would have joined the ranks of the unemployed. This would add to the demand deficiency. Demand for all kinds of manufactured wage goods would go down. Thus, preventing a down turn in industry at the present juncture is essential A major upward pressure on the price level starting with agricultural prices is likely. For instance, if prices of oils go up, soaps would follow suit. The wholesale prices of vegetable oils have increased 9.6 per cent, rice 7 per cent, wheat 5.4 per cent and manufactures 12 3 per cent in the last one month ending August 29 (Economic Times, August 30). Invariably a demand for wage increases will follow which will in turn fuel the inflationary spiral. This needs to be nipped in the bud today since it is not reversible.