ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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in for severe strictures in the document because it failed the test of "an efficient system" under which interest payments of the government "would have been covered by returns on productive capital expenditure and investment financed by debt". The view taken in the Economic Survey was that only such capital expenditure or investment was justified which was productive in the sense of yielding returns which covered interest payments.

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