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Spell of the Sant

December 31, 1966 per cent with non-financial, i e, trading and industrial, companies. About 50 per cent of the deposits had no fixed period of maturity and could be withdrawn on demand or after a specified notice period and another 30 per cent were for 12 months or less.

Divided Room At The Top

Divided Room At The Top IN JUST OVER A WEEK, between two meetings of the Central Election Committee, New Delhi watched a remarkable shift in the power alignment in the Congress hierarchy.

Wages of Wavering

Wages of Wavering A WEEK of inept politicking has cost Indira Gandhi heavily in terms of popular esteem and political authority. For months past, the high-powered publicity apparatus that works for her had made even the hard-headed reporters believe that she had come out of her initial phase of ditherings and waverings, that in decision-making as well as public assertions, a new streak of determination had come. Those who were more charitable or more beholden to the seat of power even went so far as to suggest that where Nehru would have hesitated, his daughter could rush in boldly.

Sordid, But Never Dull

November 5, 1966 Lakshmi as only the "goddess of money" may be an unwarranted contraction of the whole concept even if that were all, to ignore the equally passionate devotion to Saras- wati is, it appears to this writer, to miss an important part of the ways of, at least, the Bengali Hindu.

From Protocol to Policy

ment and the Planning Commission who were feeling dismayed by the difficulties in securing aid for the Plan are gratified by the attention paid to the question of aid in the discussion at the Tripartite Conference. It is to be hoped that this will be followed by concerted political and diplomatic effort to press the claims of the underdeveloped world for developmental aid.

Nanda s Ordeal

Nanda's Ordeal THE WAVE of student unrest which is now sweeping over the country in almost unprecedented fury has caught New Delhi unawares. After the nationwide storm unleashed by devaluation, the Government in mid-September was almost heaving a sigh of comparative relief that the worst was perhaps over, at least for the time being; and this feeling was reinforced by a certain stabilisation on the price front in the wake of a good harvest.

Opposition to Bell Mission

Opposition to Bell Mission THE FINANCE MINISTER'S excursion into the world of economic diplomacy has almost synchronised with Bernard Bell's rather undiplomatic probings into the state of the Indian economy. The political overtones of both have become the subject of current gossip in New Delhi.

The Silent Tug-of-War

Whether the country would however save foreign exchange is a matter of conjecture. The sellers of unofficial foreign exchange are primarily a large number of Indians abroad who have to remit something to their families in India. That remittance is bound to come and if there is no free-market it will come through the official channels. On the other hand other sellers of unofficial Exchange are exporters who retain a part of export proceeds abroad. If there is no incentive to sell dollars at free A POLITICAL COMMENTARY market prices, the export proceeds may And its way to Swiss Banks rather than Indian ones. In the balance I am entirely in support of Professor Gulati's proposal

Test Case for Kamaraj

There is no respite for those who wear the crown. The end of Parliament's stormy monsoon session, the stormiest in its history, has brought no peace to the leadership of either the Government or the Congress Party. The storm has taken a new turn and its epicentre seems to have moved away from Delhi.

Wee Bit to the Left

The impact of the Patil-sponsored revolt of Bombay legislators against the Naik Ministry is regarded as very significant in New Delhi. The forcing of a firstclass ministerial crisis with the demand for a toughline approach to the rising tempo of mass discontent has come as a danger signal to the powers that be.
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