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

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LIC s Investment Policy

LIC's Investment Policy Manavendra ONE of the first tasks that T A Pai, the new Chairman of LIC, has set for himself is to review the Corporation's investment policy. He has already enunciated some new policy directions in this respect, particularly as regards investment in public welfare activities. Given the fact that LIC is the repository of public savings in the form of life insurance, this slant in investment policy is entirely justified.

Invitation to Inflation and Inequity

These Budgety Days. . .
Romesh Thapar DURING the past week, with national budgeting on the agenda, we have been fed on a steady diet of reactions from that mysterious being known as 'the common man'. The 'reactions' are, in fact, the concoctions of corrupt politicians, moronic news reporters, and a host of gossips whose commentaries on the present situation prove only one fact: that economic understanding is certainly not one of our national plus points.

Stray Thoughts on Credit Planning

August 9, 1969 to commit to political and constitutional fundamentals. These should be detailed with care so as not to offend the dignity of the Presidency. They should also honour the principles supposedly rooted at the base of Congress doctrine. Should Sanjiva Reddy fail to commit, he should be denied the vote. But, then, in the Congress commitments are mads to be broken.

Easy Money Euphoria

Easy Money Euphoria Manavendra SIGNS of industrial revival and plentiful money supply seem to have made the authorities oblivious to the wider dangers of stagnation. There arc at least three clear indications of these new trends. First, plentiful money supply is an index of the existence of large unutilised capacity in industry. Second, after several weeks when the price index was between 1 and 2 per cent lower than in the corresponding weeks of the previous year, the price level has begun to rise again, even faster than last year (the wholesale price index for the week ending March 22, 1969 was 5.4 per cent higher than for the corresponding week in 1968). Third, States have "planned" for massive deficits in their budgets.

Central Budget Adjusted Dilemma

Over the last twenty years, Central revenues and expenditures have become so diverse that it is difficult to appreciate exactly the significance of tax operations. Besides the purely fiscal operations, the budget figures cover transfers, national and international, as also between Government and the private sector.

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