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

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Stability without Development

Exploiting Summit in the Villages and the Formation of the Agrarian Bourgeoisie") in PESRNI, p 192. 12 VG Rastyannikov and M A Mak- simov, Razvitie kapitalizma v sel- skom khozyaistve sovtemennoi lndii ("The Development of Capitalism in Modern India's Agricul- ture"), Moscow, Nauka, 1905, P v

Price Stability Is Not All

Price Stability Is Not All Report on Currency and Finance, 1970-71, Reserve Bank of India, January 1972; pp ix + 333 + statistics; Rs 18. THE Reserve Bank's annual Report on Currency and Finance for 1970-71 has at last appeared, many months late. As usual, it presents a comprehensive, if not always analytical, view of the economy during the year. While the country had a fourth good agricultural harvest (1970-71), industrial production showed an early (mid-1970) tendency to decelerate: the production index for the July-December 1970 period was only 3 per cent higher than that for the second half of 1969.

A Mountain in Labour

A Mountain in Labour Arthagnani THE Planning Commission's Mid-Term Appraisal of the Fourth Five-Year Plan meticulously brings together data on the implementation of the Plan to date and maps out in detail the? prospects of the Plan dining its remaining period.

Credit Needs of Farmers

Credit Needs of Farmers A Seshan Report of the Expert Group on State Enactments Having a Bearing on Commercial Banks Lending to Agriculture; Reserve Bank of India, Bombay; pp 190; Rs 6.00.

Pay Scales and Price Spiral

 only gives an account of the Training For Leadership (TFL) programme. The first 'obvious' plan that suggested itself to the initiators of the programme, viz Airan and T Shikhare, was in the setting up of a new college of Arts and Science affiliated to the University, with an ideal residential campus for the staff and 300 arts and 200 science students. Even the following details were worked out: student-teacher ratio to be 10 : 1, higher salaries for the staff, additional courses of various types to suit the varied interests of the students and building only single storied structures

A Fire-Brigade Operation Still

framework". Of the latter he says "There is only one true socialism and that is scientific socialism, the principles of which are abiding and universal . . . only under socialism can we reliably accumulate the capital we need for our development, ensure that the gains of investment are applied to the general welfare and achieve our goal of a free and united continent".

Planning Metropolitan Transport

Planning Metropolitan Transport Shirish B Patel THE STORY goes that James A Garfield, twentieth President of the United States, asked his gardener one day how long a certain tree would take to grow and when told "Forty years", exclaimed: "Then we have no time to lose. We must plant it this afternoon". The moral of the story, presumably, is that in determining priorities in one's work, what is important comes first, not what is expedient.

Murky Light on Export Slump

 exchange budget on the other hand, had presumed that rescheduling would in effect increase our free foreign exchange resources. Marginal Gains In view of all these difficult circumstances, it is clear that all talk of a price and wage freeze would be forgotten soon. There might be some procrastination about settling the DA claims of employees is they arise and the Government may revive the proposition that part of the DA should be paid in savings certificates or in other non-cash forms which the Gajendragadkar Commission had not been able to recommend because of opposition from representatives of employees and others. The only gain for Mo- rarji Desai from the Chief Ministers' conference may be that Government employees who have been agitating for higher relief than recommended by the Gajendragadkar Commission will now be more ready to settle for the Commission's re- OFFICIAL PAPER commendations and, in addition, accept part of the increased DA in non-cash forms.

Employment Data Still Scanty

 provides that a State is exonerated from its obligation under an international undertaking if there is a vital change in the circumstances existing at the time the obligation was undertaken". Finally, India is justified in rejecting a plebiscite on the ground that one, if held, would rouse communal passions in both India and Pakistan and thus gravely endanger India's secularism.

Simplifying the tax System

Simplifying the tax System First Interim Report on Rationalisation and Simplification of Direct Taxation Laws by S Boothalingam; Ministry of Finance, Government of India, 1967; pp ii + 33.

Intensive Agricultural Development

M L Dantwala THE Intensive Agricultural District Programme (IADP) m undertaken initially in 1960-61 for a five- year period with the object of achieving a rapid increase in agricultural production through an integrated and intensive use of improved' agricultural techniques and providing sufficient production in- centives to the farmers. The dis- tficts selected for this programme were to be those with a maximum of irrigation facilities and a minimum of natural hazards. The programme was established in two stages: in 7 districts beginning nominally in 1960-61 but really in 1961-62, and in 8 districts beginning

Growth of Banking

Growth of Banking Trend and Progress of Banking in India, 1966, Reserve Bank of India, Bombay, May 1967; pp ii + 71. THE Reserve Bank's review of trend and progress of banking provides annually a basis for discussion of credit policy and growth of the banking system. The report for 1966, following the usual practice, reviews the progress of banking in two parts. The first part, constituting the more important section of the report, analyses the trends in banking and the credit policy of the monetary authorities. The second part enumerates the steps taken by the Reserve Bank in its continued efforts to strengthen, consolidate and reorient the banking system.

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