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

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Unemployment and Financing of Relief Employment in a Period of Stabilisation India, 1992-94

Unemployment and Financing of Relief Employment in a Period of Stabilisation:
India, 1992-94 Sudipto Mundle A democratic government must actively intervene, and be perceived to be so intervening, in order to protect disadvantaged groups and social classes during a period of stabilisation. This is necessary especially when it is widely recognised that the government itself has been largely responsible for bringing about the current economic crisis through its profligate spending, imprudent borrowing and dysfunctional regulatory policies of the past.

Protection, Growth and Competitiveness-Study of Indian Capital Goods Industry

Study of Indian Capital Goods Industry THE Nehru-Mahalanobis strategy of state- dominated industrialisation within high protective barriers, which India has implemented for over 40 years, has come under increasing criticism in recent years. One view is that the strategy was simply a mistake- that it has blocked rapid, efficient, industrialisation, thereby leaving India behind in the race to achieve higher standards of living in the developing countries. An alternative view recognises the achievements of this strategy, especially compared to conditions prevailing during the colonial period, but maintains that the strategy has outlived its usefulness and should now be replaced by a more market-oriented, open economy approach for the next phase of development. The rationale for much of the ongoing policy reform in India is provided by these views. Their analytical underpinning is provided by traditional trade theory which demonstrated that under certain conditions 'free trade' is the best policy for all countries. Indeed, this has been perhaps the single-most influential and enduring theorem of economics since the time of Ricardo. Recently a significant literature has emerged which even attempts to measure the costs of protection [Corden, 1985]. Second best variants of this theory recognised a positive role for protective tariffs, etc, as devices necessary to support second best results when the best outcomes were preempted by domestic distortions. Though learning effects and increasing return were recognised as a possible justification for protecting infant industries, as advocated originally by Fredrich list, they remained outside the cropus of formal theory.

Volume and Composition of Government Subsidies in India, 1987-88

Volume and Composition of Government Subsidies in India, 1987-88 Sudipto Mundle M Govinda Rao This paper attempts to measure the volume and composition of subsidies provided by the Central government and major State governments and concludes that a substantial proportion of GNP, much larger than the explicit subsidy as revealed in the budgets or as computed even by the broader National Accounts definition, is being distributed in the form of subsidies through the Central and State budgets, much of it invisible, and that it is not at all clear that these subsidies are flowing to the intended beneficiaries.

Inflationary Implications of Resource Mobilisation through Administered Price Increases

This paper discusses a crucial aspect of the strategy of mobilising resources for financing the Seventh Plan, namely, the inflationary implications of administered price increases. The authors' analysis shows that the contribution of administered price increases to past inflation has been considerably greater than what was suggested in the discussion paper on administered prices prepared by the Finance Ministry ft a high rate of inflation, then, a price which the government must pay for following the Seventh Plan's financing strategy? Not necessarily for there are, the authors find, a number of major administered prices which could be raised substantially without triggering much extra inflation. The prices of a range of public sector products, such as coal and lignite, fertilisers, non-ferrous metals and rail transport services, fall in this category A policy of judiciously selected administered price increases would, therefore, go a long way in closing the Seventh Plan resource gap without generating very high rates of inflation.

A Disequilibrium View of Growth

A Disequilibrium View of Growth Sudipto Mundle Theory of Growth and the Tradition of Ricardian Dynamics by Badal Mukherji; Oxford University Press, 1982; pages x +132, Rs 55.

Effect of Agricultural Production and Prices on Incidence of Rural Poverty-A Tentative Analysis of Inter-State Variations

on Incidence of Rural Poverty A Tentative Analysis of Inter-State Variations Sudipto Mundle Three broad groups of factors determine the incidence of rural poverty. We have, first, factors like distribution of land which directly affect the income of cultivating households and, second, factors, like rural wage rates and wage employment which affect mainly the income of rural labour households. The following analysis deals with the third set of factors, agricultural prices and production, which affect the incomes of both segments of the rural poor directly.

Labour Absorption in Agriculture and Restricted Market for Manufacturing Industry-An Aspect of Long-Term Consequences of Colonial Policy-in Asia

Restricted Market for Manufacturing Industry An Aspect of Long-Term Consequences of Colonial Policy in Asia Sudipto Mundle If Malthusian theories of doom are no more tenable today than at the beginning of the 19th century, it does not automatically follow that the population factor is irrelevant or can be ignored in an analysis of the long-term constraints on growth in the post-colonial societies of Asia.

CAPITAL VIEW

Strategies for Equity Ifzal Ali B M Desai R Ramakrishna V S Vyas This paper attempts to focus on the prospects and problems of Indian agriculture by the turn of the century. Its emphasis is mainly on issues relating to distribution, and the increasing of the purchasing power of the poorest segments of the population.

Home Market, Capitalism in Agriculture, and Drain of Agricultural Surplus

Drain of Agricultural Surplus Sudipto Mundle This paper presents an explanation of the decline in the long-term rate of growth of the Indian economy since the mid-sixties which directly relates the restricted growth of the home market to the slow development of capitalist agriculture which, in turn, is attributed by the author, at least partly, to a drain of substantial quantities of the surplus product in agriculture.

BIHAR-The Bonded of Palamau

had placed, for the very large size companies, the growth in net worth at 8,6 per cent. More glaring examples are those of the growth rate in profits after tax (14.6 per cent in the latest study against 25.2 per cent in the previous study for the same year, 1973-74) and debt as percentage of equity (42.7 per cent now against 35.1 per cent in the earlier study for the same year). Even the trend in the percentage of debt to equity would be different if one tried to combine the two studies.

Intersectoral Flow of Consumer Goods-Some Preliminary Results

Some Preliminary Results Sudipto Mundle This paper presents some preliminary results of an exercise in assessing the net flow of consumer goods between the agricultural and the non-agricultural sectors of the Indian economy since 1951-52.

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