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

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Suppressed Critique

Suppressed Critique Bhabatosh Datta Reserve Bank of India: Annual Report 1985-86; Bombay, August 1986, ONE can appreciate the embarrassing position of a body like the Reserve Bank of India when it has to report on the state of the economy in the past year (July 1985 to June 1986) and also to present some evaluation of the immediate prospects. It cannot (and does not) avoid the presentation of the actual developments and can permit itself to point out the deficiencies, shortfalls and disappointment of expectations. Its critical analysis has to be cautious and it has to be careful to conform broadly to the line of approach taken by the government. And it has to be more than cautious in making forecasts about the future. Sometimes, the pessimism about the past year is followed by a mild op* timism about the new year, without indicating the non-sequitur that may be involved. Nothing that the Bank has said about 1985-86 prepares the reader for the hope held out that "the performance of the economy in 1986-87 could be expected to be better than in the previous two years".

Developing Countries and World Economy- A Reading of Some Recent Documents of IMF

Developing Countries and World Economy A Reading of Some Recent Documents of IMF Jayati Ghosh THIS article considers recent trends in the international economy and their implications for the economic prospects and policies of developing countries. The analysis and policy proposals contained in various IMF publications are discussed given this background. In particular, reference is made to the following IMF publications; (1) "Trade Policy Issues and Development" Occasional Paper 28, July 1985.

Transport Statistics in India An Evaluation

Transport Statistics in India: An Evaluation T R Kesharwani TRANSPORT is one of the most important infrastructure facilities in the economy of any country, particularly in a developing country like India. Provision of transport facilities takes away a major chunk of investment resources. In the Five-Year Plans, transport programmes have accounted for nearly one- fifth of the total public sector investment in the economy. Any saving in provision of transport facilities by judicious planning including correct choices of different modes of transport and in proper proportions would release resources for meeting other essential needs of the economy, On the other hand any deficiency in the provision of transport facilities could create major bottlenecks in the economy. A well informed judgment in the provision of transport facilities is, therefore, absolutely essential. Such an informed judgment has to be based on statistical data.

Cost-Benefit of an Enquiry

Cost-Benefit of an Enquiry B V Rangarao Report of Committee of Enquiry, Council of Scientific and Industrial Research, New Delhi, 1971. THE last five years of the council of Scientific and Industrial Research have been a dark period of suspicions, allegations, counter-allegations and enquiries resulting in a general crisis and desperation among scientists in this country. The CSIR is a major scientific and technological research organisation associated with several research centres through the grants and fellowships that are awarded and certain national responsibilities it has. Besides, scientists and technologists from other research organisations and industries participate amply in its policy formulation and decision- making machinery. This organisation has been a symbol of the state of science in this country.

Jumble of Sundry Facts

October 2, 1971 Jumble of Sundry Facts B V Nimbkar Agricultural Research in India: New Horizons and Perspectives, Indian Council of Agricultural Research, New Delhi, July 1971.

Back to the Gold Cross

September 18, 1971 as the Netherlands and Libya. The Bank has few illusions about the long-term prospects of aid. A special study of aid problems made by it shows that the external public debt of developing countries now amounts to $ 59 billion. On the bilateral official and multilateral debt of $ 43.4 billion, service payments of $ 19.8 billion fall due to be paid over the years 1970-75; on $ 15.3 billion due to private creditors, service payments due in 1970-75 amount to $ 13 billion. At the same time, the markets for the developing countries' products are not expanding, and the recent inflationary pressures in the advanced countries have helped to worsen the terms of trade for the developing countries. Clearly, there are limits to the financing of development with loans.

New Directions in Aid

New Directions in Aid Annual Report 1971, World Bank and International Development Association, Washington, 1971, pp 116. THIS report on one more year of the World Bank's operations clearly brings out the conflicting trends in international aid. Under Robert McNamara's leadership, the World Bank has expanded its operations and diversified into new fields. At the same time the general climate, with the major aid- giving countries facing inflationary pressures and balance of payments problems, has not been exactly the most conducive to aid operations.

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