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

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Moving Spirits

Optober 26, 1968 the industry must be compelled to revise Its pristine ideas about jute purchases. Last year when raw jute was going abegging at Rs 36 a maund, the mills claimed that they did not have enough funds to step up their purchases which would have stabilised the price at a level remunerative to the farmer. Now that the Bengal farmer, as often in the past, has diverted his land to rice, mills have suddenly found it possible to scramble for limited supplies at nearly twice the price they were willing to pay last year. The creation of a buffer stock is ruled out this year but next year there must be a concerted and

Soviet Arms Aid to Pakistan

October 19, 1968 ignores certain basic prerequisites of development The key factor for cumulative development is saving and capital formation. While the rate of fixed domestic capital formation was 19 per cent in 1959, it steadily declined to 14 per cent in 1965. Thereafter it has taken an upward trend, the rate for the past two years being 14.7 and 15,8 per cent. An improvement of this magnitude is hardly a matter for self-congratulation because the current rate is still substantially below the 1959 rate of 19 per cent.

Speakers and the Supreme Court

October 12, 1968 of no particular value. (Imagine the loss of this lucre had the newspaper strike continued!) Hindustan Times and Indian Express published articles on Gandhi by Lord Louis Mountbatten without mentioning prominently that they were not contributed articles, but reprints of an article included in a volume on Gandhi compiled by Radha- krishnan. This misleading of the public is a frequent occurrence in Indian journals, which is rather sad, considering that most of the bigger newspapers, at least, can easily commission top writers for a substantial fee. That they do not do so, but are content to run syndicated columns, is a poor commentary on editorial enterprise.

Decline and Fall of Editors

ventures undertaken during the year. The total project cost of the 56 companies which approached the capital market in 1967-68 amounted to Rs 204 crores which is an increase of 38 per cent over the previous year. Existing companies accounted for a project cost of Rs 172 crores, and new companies of Rs 31 crores. Plant and machinery constituted as much as 65 per cent of the total project cost indicating that most of the projects were in the nature of modernisation and installation of additional balancing equipment.

Arithmetic of HYVP

Ekalavya THE , Planning Commissions "Approach to the Fourth Plan" assumes a 5 per cent per annum growth in agricultural production over the Plan. Since the agricultural growth rate will be the dominant factor determining growth of the economy as a whole, it is understandable that one of the points on which discussion of the 'Approach' document has come to centre is whether the growth rate of 5 per cent per annum far the agricultural sector can be. considered realistic or feasible.

Soviet Arms and Assurances

Soviet Arms and Assurances G S Bhargava HISTORY seems to be repeating itself. In 1954 when the United States started arming Pakistan, there was consternation in India because an arms race with Pakistan was both unwelcome and undesirable, though it did become unavoidable. With the memory of Partition still fresh in people's minds, there was a genuine feeling that the US was helping an enemy.

Why Cut Engineering Admissions

Why Cut Engineering Admissions? V N Kothari THERE is a proposal in official circles to cut admissions to engineering courses in 1968 by 30 per cent. This cut, it is said, would help case the increasing unemployment among engineers. This caim has no justification.

A Non-Policy on Non-Proliferation

all. Expenditure on it has been Rs 1.81 crores against the provision of Rs 2.87 crores and against the target of 4,73 lakh acres only 2.24 lakh acres have been covered.

Annual Plan 1968-69-Areas for Policy Action

 their apparent lack of interest in happenings in Vietnam. The news is covered in an almost casual manner. There is something ghoulish about this indifference. Statesman in this regard is a cut above the rest. The paper's foreign coverage, incidentally, is the best in the country, though it seems to have recalled its Washington correspondent and not replaced him. But Selig Harrison does a splendid inside job for the paper.

The Cost of Taking It Easy

March 9, 1968 RECESSION has cut into sales of commercial vehicles and most of the manufacturers have had to drastically reduce production. Bajaj-Tempo, which commenced production of its 4-wheerer delivery vans in October 1966, has been working much below its installed capacity of 4,000 vehicles (3-wheeiers and 4-wheelers), although it introduced in the market several new models such as station wagons, mini-buses, amburances and pick-up vans. The company has had to take on other work to keep its machine shop busy. Sales of commercial vehicles have lately started to pick up following appointment of additional dealers and inclusion of the Tempo Viking 4-wheelers in the DGS and D rate contract. The company is seeking a foreign exchange loan of Rs 28 lakhs from IFCl for import of balancing equipment to reach the installed capacity and to increase the indigenous content of vehicles. Efforts are also being made to further diversify the manufacturing programme. Results for the year to September 1967 turned out to be poor. Sales and machining charges together fetched 14 per cent more at Rs 2.54 crores but, with margins dropping by 4 points to around 61/2 per cent, gross profits fell by 13 per cent to Rs 16 lakhs. After providing for lull depreciation of Rs 23 lakhs-(Rs 9 lakhs), there is a deficit of Rs 6 lakhs. No dividend is recommended, therefore, for the fourth consecutive year.

Half a Dozen Vietnams

Half a Dozen Vietnams Ashok Rudra WHAT the United States of America faces in Vietnam is a halt to the steady course of victorious progress it has known during the last several years in its struggle for the containment of communism and for world domination. Ever since Krushchev's capitulation over Cuba, the United States has undoubtedly and decisively been the winning side in its titanic struggle for power with the Soviet Union. It has been able to use the tactic of nuclear blackmail to neutralise USSR intervention in one problem spot after another. The tacit agreement between the two super powers to avoid any frontal clash has meant, in actual practice, the USA getting away with all types of direct and indirect, military and non-military, interventions without any matching counter-moves by the USSR. The disastrous defeat of the Arab armies in last summer's almost comic five-day war and the almost total destruction of the Soviet-built UAR military might has also to be treated as a major setback for Soviet strategy. It is not only the USSR that has been reduced to the role of a passive spectator before this rise of American Imperialism to unchallenged supremacy. China, with all its tall talk, has continued to allow itself to be policed by the American Seventh Fleet and has cautiously held its hand over Formosa, Hong, Kong and, of course, Vietnam.

A Crucial Budget

A Crucial Budget WHAT is the 1968-69 Union Budget supposed to aim at? The Fourth Plan is in abeyance for the whole of next year. Whether or not that amounts to a plan holiday is a matter for polemists to debate. The question that must be bothering the Finance Minister right now, and for several weeks past, is: what policy objectives should his next budget seek to fulfil?


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