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

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Growing Market Orientation

Growing Market Orientation Reserve Bank of India Annual Report, 1977-78; Reserve Bank of India, Bombay, September 1978, pp 58. ONE looks forward to the annual report of the central bank of a country for objective analysis of the state of the country's economy. If, however, the central bank merely attempts to justify its own actions and those of the government and also to dress up natural happenings to look like well thought out economic policy, objectivity becomes 'a casualty. The Reserve Bank of India's Annual Report for 1977-78 is a case in point.

Inanities on the Economy

measures have only led to low wages, inflationary prices, increasing emigration from the countryside to the city slums and scarcity of food. These economic difficulties have been aggravated by internal political pro' litems, with foreign minister Fahmy being already regarded by the big bourgeoisie as an alternative to Sadat. But then Sadat is in a position to remain in power with the help of the Muslim Brotherhood and at least a section of the army. At one stage, there is stated to have been even talk of the US getting disillusioned with the Egyptian president and considering his replacement with "an abler puppet". But this plan has been dropped, at least for the time being, with a view to preventing a worsening of the internal political situation.

With Two Voices

 Kai lash Rail Kailash Rai's brother is reported to have made a statement before a judicial Magistrate saying that Kailash was staying in Dibrugarh; but why he was assaulted and why he was handed over to S P Misra, a private individual, while in custody, whether he was formally arrested, and why his whereabouts are still a mystery

Unconvincing Case

Unconvincing Case K K Taimni Over the years two parallel and distinct co-operative credit structures have developed, one looking after investment and the other after production needs of the farmers. This short-term credit structure is a federal one with three tiers

Public Sector Who Benefits

cant is threatened with imprisonment upto 10 years, if he reveals the nature of his work. Further: "We work according to the rule: 'nobody should know more than it is necessary for him to know'. Never ask questions about others and never say too much. You would come to learn what is important for you.'' Major Black of MALICI demands of the prospective mercenaries detailed personal data as well as military qualifications. The letter should also contain the motives why the applicant wants to become a mercenary, These particulars accompanied by a photograph should then be addressed to the Post Box in Abington. "Please don't address the envelop to me. Don't OFFICIAL PAPER MUCH has been said and written about the growth of public sector enterprises in the country. A report released recently by the Bureau of Public .Enterprises shows that, while the capital employed in Central Government enterprises (other than departmental projects) increased in 1974-75 by 26,09 per cent (from Rs 5,265.90 crores to Rs 6,627.15 crores), the value of production from these enterprises went up by as much as 44.07 per cent (from crores). Equally impressive has been

Science and Technology Statistics

Science and Technology Statistics Mohan Bhatia Research and Development Statistics, 1973-74; National Committee on Science and Technology, New Delhi, May 1975.

State of the Economy Contradictory Prescriptions

State of the Economy: Contradictory Prescriptions The Economic Survey, 1975-76, Government of India, March 1976; THE Government of India's pre-bud- get Economic Survey has come to be accepted as an authoritative account of economic developments during the year and a blueprint of the government's policies and programmes. Yet it does strike a regular reader of the annual issues of the Survey that its content has hardly improved over the years. A comparison of the latest issue with, say, that of a decade ago would show that the framework and content of the chapters as well as the statistical tables have hardly undergone any change. In fact, in certain respects, information that was being given has been withdrawn and some of the information is not being regularly presented. In earlier years, for instance, the Survey always carried a detailed balance sheet of the key industrial raw materials in terms of their output, import, stock carry-over and overall availability. This has now been given up. During the last two years, the Economic Survey had introduced similar tables on the availability of foodgrains and sugar

Much Chaff in Hathi Report

D J S K Report of the Committee on Drugs and Pharmaceuticals Industry; Ministry of Petroleum and Chemicals, Government of India/April 1975; pp 453, (mimeographed).

Revised Estimates of National Product, Saving and Capital Formation

Revised Estimates of National Product, Saving and Capital Formation TWO and a half years after the publication of the Estimates of National Product, the Central Statistical Organisation

Political Economy of Technology Transfer

mental national right of the Cambodian and Lao peoples arid the indepen- dence, sovereignty, unity, territorial integrity and neutrality of their countries. In Cambodia, right after the conclusion of the Paris Agreement, the US mobilised B-52s and other kinds of aircraft to launch a 161-day bombing campaign with 35,000 sorties and 240,000 tons of bombs' dropped in an attempt to destroy the liberated areas. Besides, the VS has introduced many more US military advisers and military personnel into Cambodia to directly take in hand the command of the Lon Nof troops. On October 19, 1973, Nixon asked Congress to extend to the Lon Nol administration additional military aid of $ 200 million in the 1973-74 fiscal year. The US continues to use Thailand to train Phnom Penh troops and an airlift from Thailand to Cambodia has been established to supply fuel. According to the Thai newspaper, Nation, the US has shipped about 3,000 tons of munitions a month from Thailand to Cambodia.

Mea Culpa!

Mea Culpa! Economic Survey, 1973-74, Government of India, February, 1974; pp HAVING grossly mismanaged the economy, the government now apparently wishes to disarm its critics by conceding their criticisms. At any rate, this is the impression one gets from the government's latest Economic Survey. Apart from silencing its critics, this tactic, in the government's view, perhaps absolves it of the responsibility for finding effective solutions to the various problems.

. . . And the Facts

of profits in their hands. Evidently we need a policy of development in which the production programme must he geared to the needs of the masses and it is difficult to see how this is going to inhibit growth unless we consider the existing property relations as sacrosanct. Unless the link between concentration of property in the hands of the rich and the process of income generation in their favour in consequence is snapped, there is no possibility of influencing the structure of production in a manner which will ensure growth on the basis of distributive justice.


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