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

A+| A| A-

From 50 Years Ago: Barely Begun

Vol VI, No 22 MAY 29, 1971

Barely Begun

If the tax effort in the Budget for 1970-71 appears substantialit is certainly not staggering or stupendous, as has been suggestedit is so only in contrast to what Finance Ministers have been used to attempting in the recent past and not in relation to the investment needs of the economy. True, the Budget speech and the Economic Survey show some appreciation of the crucial role of public investment in spurring overall industrial growth. This is a definite advance over the Morarji Desai line, which seemed to survive Morarjis own departure from the Government, of trying, through a variety of concessions and incentives, to make the tail of private investment wag the dog of industrial growth. Of course, the appreciation remains yet largely on paper; it is not much in evidence in the Budget proposals.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here


To gain instant access to this article (download).

INR 59

(Readers in India)

$ 6

(Readers outside India)

Published On : 20th Jan, 2024

Support Us

Your Support will ensure EPW’s financial viability and sustainability.

The EPW produces independent and public-spirited scholarship and analyses of contemporary affairs every week. EPW is one of the few publications that keep alive the spirit of intellectual inquiry in the Indian media.

Often described as a publication with a “social conscience,” EPW has never shied away from taking strong editorial positions. Our publication is free from political pressure, or commercial interests. Our editorial independence is our pride.

We rely on your support to continue the endeavour of highlighting the challenges faced by the disadvantaged, writings from the margins, and scholarship on the most pertinent issues that concern contemporary Indian society.

Every contribution is valuable for our future.