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

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Data Withdrawn

The Economic Survey contained data till 2002-03 on the outgo on account of interest on service payments on foreign loans and credits under the rubric of the balance of payments (Tables 6.3A and 6.3B). Now this data has been withdrawn for reasons best known to the mandarins of the union finance ministry. Perhaps the burgeoning outgo on this head was so uncomfortable that it was probably thought wiser to withdraw this vital information. The negative balance on investment income had already crossed Rs 21,000 crore in 2003-04 which was one-third of what the country received as net foreign investment. Foreign commercial borrowings shot up from Rs 75,000 crore in 2003-04 to Rs 1,16,000 crore in the following year and interest payments too would have gone up drastically. Instead of presenting a more transparent picture of the balance of payments, what is being done is otherwise.

Likewise the Survey used to give statewise data of foodgrain production. The same has also been withdrawn. The Survey also does not give gross domestic product by industry of origin at current prices although the same is given at 1993-94 prices. There are broadly 20 heads of industry of origin but the same is compressed into five heads with the result that one cannot know as to which specific sector is growing at what rate.

Kripa Shankar

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