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National Agricultural Credit Policy

National Agricultural Credit Policy M Narasimham AGRICULTURAL credit is best considered as an element of the total credit picture in the economy. Its availability and cost should appropriately form part of the total resources availability to the credit institutions which determines their ability to purvey credit in the amounts and at the rates they do. This, obviously, is an approach to the problem from the side of supply of credit. But the supply side is not all, There is the question of the appropriate level of demand for agricultural credit This, in turn, depends upon the level at which the agricultural economy is operating, the new directions into which agriculture is expanding and the tech- no-economic requirements of agricultural production and investment.

A Case for Sub-States

Meghalaya has caused undeserved damage to the idea of regional autonomy. As a sub-state it was the first and only experiment of its kind in India, which has now been abandoned without a fair trial. Perhaps the potentiality of the experiment for promoting cohesion within a State through dispersal of political power was never appreciated. Perhaps it was just a grudging attempt to meet the Hill people's demand for a separate State half-way and, in effect, was meant to be a stepping stone to full statehood.

Governor, Chief Minister and Coalitions

October 17, 1970 rence must be made to the latest discussion on land reforms, occasioned by the Chief Ministers' conference and deliberations in the Congress(R) Working Committee. For, it is probably no accident that while most metropolitan newspapers urged further reforms and the speeding up of accepted ones, the provincial papers generally advised restraint! "Why this hurry?" asked Indian Nation. "The Centre has practically no stake in the matter. But the Chief Ministers, at least those among them who are far-sighted, know that the brunt of any ill-conceived measure on land will fall on them." Deccan Chronicle similarly said that "the Chief Ministers have quite rightly spoken against arbitrary and uniform downward revision of land ceilings... Far from bringing prosperity all round, it will only accentuate the disparity in wealth." Amrita Bazar Patrika, on the other hand, asked how it was that "the Congress High Command was unable to exert sufficient pressure even on the Congress Chief Ministers, who were among the most vocal opponents of lower land ceilings?... The Chief Ministers apparently did not show the expected sense of urgency even though it [land reform] is admittedly one of the most pressing problems before the country now".

Annihilation of Class Enemies-CPI(ML) Tactics at Critical Point

'Annihilation of Class Enemies' CPI(ML) Tactics at Critical Point Sumanta Banerjee THE present differences among Indian Maoists about tactics highlight some of the basic problems bound to be faced by any group planning to organise a revolution in the current Indian situation.

Confusion over Land Reforms-West Bengal Experience

cerned with the man himself than his discoveries. "Rejected by India in 1956, Dr Khorana made his abode in America" it wrote. "What would have happened, had the Indian science bosses accepted him fourteen years ago?'' What indeed? More particularly, "the Wisconsin University pays Dr Khorana Rs 3 lakhs (40,000 dollars) per year and he is one of the top-paid employees of the university". Yet, "no one in America calls him 'salary-oriented". The Government of India, concluded the paper, "has yet to develop a 'scientific mind' without which it can't do proper justice to its men of science".

Keeping the Sights Low

their resources from both internal and external agencies. Congress parleys have become a jousting ground for anyone who feels that his interest needs airing. Pressmen, also subject to the pressures of internal and external lobbies, res- pond to this kind of situation and are now playing the game with a verve seldom noticed in our country.

Making the Plan Implementable

saluted Lenin in these words: "The credit should go to Lenin ... for giving to the world ideas which incubated and hatched many social changes the world over, and which still holds sway over the minds of millions of people. . . The Great October Revolution had deep international roots and features.

Not Forever Amber in W Bengal

Not Forever Amber in W Bengal A C B THERE is no doubt that Bengal contributed very largely to the struggle for freedom

Rational Interest Rates Policy

ably, his views on unemployment and allied problems would have been the same as they are now. The absence of an identifiable code of professional ethics has once again been highlighted by this particular incident.

Role of Financial Institutions in Planning

 ter joked about it, saying that Der Spiegel (which means "mirror") did not mirror Yugoslav affairs truly. Despite the Prime Minister's light- hearted treatment of the subject, East European specialists from Vienna visiting Belgrade found a conspiratorial atmosphere there. In public, the Foreign Office dismissed the reports as beneath contempt. Early in March, before going to New Delhi on an official visit, the Yugoslav Defence Minister who is a General, told the East European correspondent of an Indian paper that the entire coup story was ridiculous. The Defence Minister's talk with the Indian correspondent was about the only clear, formal official Yugoslav statement on the coup scare. Western correspondents in Vienna and British correspondents visiting Belgrade on the eve of the Yugoslav Prime Minister's visit to Britain came back with stones of some Yugoslavs attributing the coup story to Soviet inspiration. Others heard some other Yugoslavs tracing the story to emigre Yugoslavs who are in abundance in Germany and Britain. Some others talked of Western governmental inspiration. Tito's non-aligned conference plans would, these people argued, lead to an anti- Western barrage, and not criticism of the Soviet Union. In other words, one could pick the version one liked depending on the orientation of the Yugoslav one talked to. Perhaps the most weird theory was that the reports of pressure by pro-Soviet Generals had been put out by some scheming Yugoslav government or party source so as to help Yugoslav negotiations for arms purchases from the West! The Yugoslav Prime Minister, who was accused in one British weekly of having been a secret policeman and murderer, was hosted heartily by British Ministers. President Tito too came back to Belgrade from a triumphant African tour. And the Yugoslav Defence Minister went oft to be received by Swaran Singh and got ample publicity in Indian newspapers which are specially flattering to visitors from friendly Yugoslavia.

Who s Afraid of the Big Bad Wolf

exports. Having few vessels that can engage in international trade, having high ship-building costs and few dockyards and equally high seamen's wages; having, in other words, grown up under the shadow of the British shippers, Australia could only make the switch by a sudden, huge capital investment.


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