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

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Setting the Example on Power

MPCC is by and large a united party. But the fact remains that the party has to operate in a State different regions of which are characterised by diverse economic conditions. Western Maharashtra, Rat- nagiri excepted, is well off compared to poor Marathwada. Western Maharashtra, the stronghold of the Marathas, and especially the two districts of Satara and Sangli, has also been in the forefront of State politics. But Vidarbha has staked its claims for a larger share in the State Government, especially in view of the rout of the secessionist elements in the region. And like Vidarbha, Marathwada too has been asserting itself. So tensions cannot be kept out altogether, though they have not come to the surface yet. Already there are gentle ripples. These have been caused both by conflicts of personalities and of regional interests. The first certainly let to the loss of a couple of prestige seats for Y B Chavan and at least -one for Naik. In fact the opposition could have exploited personal conflicts in the ruling party far more if it had been able to avoid triangular contests.

Raising the Marriage Age for Women

March 4, 1967 tern of generation of money incomes is consistent with the Plan objectives and also satisfies demands of equity and "fairness" in income distribution. In concrete terms the major objectives are to (a) generate from domestic income the savings necessary for ensuring non-inflationary financing of investments; (b) adjust domestic demands in such a manner as to minimise the pressure on balance of payments; and (c) narrow the disparities in real incomes between sections of the community and between individuals.

No Misgivings on Cement Decontrol

No Misgivings on Cement Decontrol APROPOS YOUR DELHI LETTER, January 14, 1967, your correspondent is certainly entitled to have second thoughts about the decontrol experiment, but it must be made clear that his assertion that the operation of cement decontrol has run into difficulties is far removed from reality. There are no 'misgivings', as your correspondent would like the readers to believe, either in official circles or among the public, regarding the arrangements that the industry has made to ensure equitable distribution of cement at a uniform for destination price throughout the country.

Where Family Planning Has Failed

December 24, 1966 the Industrial Development and Regulation Act which means that it may be subjected to tight regulation by the State Government.

Do We Deserve Food Aid

Exports Not So Bad THE PERFORMANCE of exports since devaluation can hardly be described as dismal. If allowance is made for the upsetting of contracts and delays in announcing and implementing follow-up measures, exports have done reasonably well in the quarter June-August as compared with last year. True, there has been a decline of 17 per cent in the value of exports as compared with the corresponding quarter of 1965, from $415 mn to $346 mn (the figures are expressed in dollars to make them comparable), but nearly two-third of this decline is accounted for by three countries, Britain, Russia and Egypt, which together absorb roughly one-third of our exports. The share of these three countries in our exports has declined rather suddenly from 37 per cent to 31 per cent. Commodity-wise, out of the decline of $69 mn in earnings, jute accounts for $21 mn, tea $13 mn, tobacco $11 mn, cotton fabrics $9 mn, sugar $5 mn, and engineering goods $1 mn, making a total of $60 mn. Iron ore has remained constant at $16 mn, while leather goods have moved up from $15 mn to $22 mn, and fish from $3 mn to $6 mn.

Reserve Bank Abdicates

November 12, 1966 RBI and Deficit Financing AT A PRESS INTERVIEW in Madras last week the Governor of the Reserve Bank, P C Bhatta- charya, warned the Government against further doses of deficit financing, which has already amounted to Rs 200 crores during the present financial year. The irony of it is that the monetary policy of the Reserve Bank, of which the Governor is the main architect, cannot be absolved of the blame for this level of deficit financing. The figure of deficit financing which he has mentioned obviously does not represent Central and State government borrowings from the Reserve Bank. It is evident from the money supply data in the "Reserve Bank Bulletin" that upto August-end net RBI credit to Government actually declined by Rs 45 crores. What the Governor has in mind is the expansion of Rs 263 crores in commercial bank credit to the Government less the contraction of Rs 45 crores in Government borrowing from the Reserve Bank giving a net deficit financing of Rs 218 crores.

Little Sense on Fertilisers

relating to conditions of service which may arise out of differences between the Government and its employees. The first Pay Commission, enunciated four main principles (a) In the settling of differences between the State and employees the best course is to prevent differences from developing into disputes.

Left Parties and the Election

October 29, 1966 stemmed from a number of factors, the most important of which is, of course, the higher rates of interest banks have been offering at the instance of the Reserve Bank for the past twenty months. But gradually a feeling is emerging among banks that the growth of deposits is inelastic to interest and that there- tore, the rates of interest on term deposits could be "rationalised".

Vintage of Swatantra Ideology

October 22, 1966 on the ground that proliferation of nuclear arms should be hindered, if not forbidden. Some time earlier, General Electric bought up the French computer firm, Machines Bull, against strong opposition from the French Government. The case of the CDC computer made the development of a native computer industry of grave military importance for the French Government, which is now determined to keep it in French hands. It has prepared a detailed plan, 'Plan Calcul', under which the remaining two French computer firms will be merged and will receive 450 million francs for research, development and production, France's policy of converting its dollar holdings into gold has also paid off to some extent. France has now the second biggest gold holding in the non-socialist world of over 5,000 million dollars, against the USA's 13,000 million dollars. Apart from the vicarious pleasure of sitting on so much gold, France has also succeeded in forcing the USA to limit its foreign investment. Hitherto the restrictions on American firms' investment abroad have been voluntary; but they have proved inadequate, and more drastic restrictions are quite on the cards.

Vintage of Swatantra Ideology

October 22, 1966 on the ground that proliferation of nuclear arms should be hindered, if not forbidden. Some time earlier, General Electric bought up the French computer firm, Machines Bull, against strong opposition from the French Government. The case of the CDC computer made the development of a native computer industry of grave military importance for the French Government, which is now determined to keep it in French hands. It has prepared a detailed plan, 'Plan Calcul', under which the remaining two French computer firms will be merged and will receive 450 million francs for research, development and production.

Slur on Swatantra Party

Income-Tax Tribunal sitting in 12 benches dispose of about 17,000 cases per year. The scope for income-tax adjudication is, besides, far wider than that for adjudication in customs.

Understand the Emigre

Emigre THE EMIGRE needs neither sympathy nor pity (Ashok Rudra, October 8); what he needs is to be understood. In describing his unfortunate experience in India ("A Passage from India'', October 1), the emigre was not soliciting sympathy, but drawing pointed attention to the reasons why so many highly-qualified scientists, engineers and economists decide to stay and work abroad. What was the emigre's experience? He came to India with the offer of a job virtually in his pocket only to find those who had made the offer go back on it. He tried elsewhere, but in vain. So six months after he landed in the country he was still without a job. Does it show any special lack of affection for the country that, after this, the emigre felt frustrated and decided to go back? How many of those whose badge of patriotism is that they remain in this country will pay a higher price for their love of India, if they had attractive opportunities waiting for them outside?

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