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

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DIAMOND EXPORTS-Net Foreign Exchange Loss

Despite its-various shortcomings, the monopoly scheme should be deemed to have served a useful purpose if it has enabled the cotton grower to realise a better price for his produce than he would have done entirely on his own with all the financial constraints and deficiencies in the marketing infrastructure under which he operates. A scheme which seeks to eliminate intermediaries and offer the facility to hold cotton on behalf of the grower over a longer period of time in the hope of realising better prices has much to commend it. That the implementation of the monopoly procurement scheme leaves much to be desired is another matter. Even the CCI had to be salvaged from financial ruin by converting its huge accumulated losses into a government loan. Needless to add, only the state government can operate the monopoly procurement scheme because its implications extend well beyond purely commercial operations.

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