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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.

Changing Role of Gold

ing dens. Therefore, before we go too far, let us halt and ponder for a while as to where this path leads to. Let us keep two issues separate. The first is the (question of public finances. On this, let there be no doubt that public revenues must be raised only through proper fiscal means and not by exploiting the vice and weaknesses of the poor. The second is the question of vice and crime in society. On this, there can be no other policy than to take all needed measures, economic, social and educational, to prevent the spread of vice and crime and to limit it to the irreducible minimum. The question of public revenue must be divorced from the question of vice and crime in the society.

Government by Gambling

Government by Gambling V M Dandekar IN the auspicious year of the Birth Centenary of Mahatma Gandhi, the Father of the Nation, the Governments of most States have inaugurated two important social reforms: One is relaxing or altogether lifting prohibition; the other is initiating State lotteries. Whatever the justification given, the reasons for the two reforms are obvious. The expenditure on development programmes and the expenditure incurred in the name of or incidental to such programmes has been mounting day by day. Two years ago, the then Finance Minister suggested that public expenditure must be restrained and unproductive expenditure must be eliminated. Much thought was given to the subject. Several economy measures were explored in order to cut down public expenditure. But they turned out to be politically impossible. Hence- it became obvious that additional finances must he raised to meet mounting expenditure.

Congress Split and the Left

December 13, 1969 which in the opinion of the financing institutions need further processing to prove their project viability, commercial feasibility, and market prospects, would be passed on to the team. The team's main task will be to work with the promoter, either at the plant or in their own office, working out the promoter's idea into a viable project-report, restructuring or recasting the project details, supplementing the data already provided. The role of this team will be to help the promoters formulate a bankable project and thus to assist the financing institution to screen and arrive at a financing decision. The primary responsibility for the financing decisions, and hence the basic financing risks, will of course devolve on the financing institution itself. Promotional and post- financing follow-up functions could, however, be subsequently entrusted to the teams.

Pre-planned Investment Loans

September 20, 1969 only two-thirds of the total cultivating households operating loss than 5 acre holdings is uneconomic. About two- fifths of the land under small-sized holdings is uneconomic. This disproves the widely held contention that all holdings below 5 acres arc uneconomic. Further, regarding the holdings above 5 acres, at the all-India level, the extent of cultivated land in the holding sizes of 5 acres and above coming under the purview of uneconomic holdings is a little less than half of the total uneconomic holdings in small sizes of holdings, In Rajasthan, Gujarat, Maharashtra, Madhya Pradesh and Mysore, the total cultivated area in uneconomic holdings is greater (due to low productivity of land) in holdings of the size of 5 acres and above than below 5 acres.

Ban Apropos What

 even retired economists, have become scarce (at least, more scarce than retired civil servants), and the Government has not been able to find one to do its bidding on the Tariff Commission. Or, with the experience of economists writing minutes of dissent to the Commission's Reports, the civil servants might have decided to exclude economists from Government patronage. The Commission would now be re lieved of such minor distractions as economic analysis of problems under its examination or economic logic in their conclusions. It would be a thoroughly practical body giving here and taking there to arrive at conclusions which would displease neither industry nor Government.

Inefficiency of Public Sector-Political Defence Is Misleading

Inefficiency of Public Sector Political Defence Is Misleading THE public sector (excluding railways) is a tender plant, dating back less than 15 years. Yet, even when confined to spheres in which the private sector has had neither the ability nor the resources to enter, it has always been under attack from the powerful, spoilt and not-more efficient private sector and by the Press which is controlled by more or less the same interests.


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