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The Prime Minister and the Press

but probably declining to about $20 billion in 1978), a sizeable part of which is recycled by the private banking sector. With borrowing requirements by governments and industry in industrialised countries remaining at a relatively low level due to the sluggish recovery from recession, ample funds continue to be available. This liquidity has created a borrowers' market with a narrowing of "spreads'' and a lengthening of 'maturities, but interest rates have been rising. The following average interest rates were recorded for six-month bank loans repayable in dollars :

Editors and Their Makers

Editors and Their Makers Nireekshak IT was yet another dizzy round of editorial musical chairs. M V Kamath, Washington correspondent of The Times of India for about a decade, quietly, replaced Khushwant Singh as editor The Illustrated Weekly of India. Khushwant Singh, fancied for the editorship of a weekly reportedly planned by The Hindustan Times group, was prevailed upon from No 12 Wellingdon Crescent, New Delhi, to become editor instead of the least significant of the Capital's English dailies, the National Herald. And that was the unceremonious end of M Chalapati Rau's 40-year association with the paper

Another Press Commission

regime appears to be following US advice and appears to be reconciled to accepting Indian hegemony and leadership in the region. Specific aspects of relations with India include the question of India-Pakistan trade, the Kashmir issue and the Agreement on the Salal dam project. The Salal dam agreement which was signed in New Delhi on April 14 appears to have involved concessions by Pakistan. The Salal dam is being built on the Chenab river in India before it enters Pakistan territory. Under the Indus Basin treaty the waters of the Chenab river were allocated to Pakistan and India was forbidden to interfere with the flow of water in this river. The Indus Basin treaty allows the use of the Chenab river headwaters for generation of hydroelectric power but Pakistan fears that its canal irrigation based on the

Wages of Cowardice

fight in every constituency in a despe- rate gamble to prove that she is no ordinary splitter will certainly create enormous problems for the Congress party. The former PM commands vast financial resources although these may have been catastrophically eroded by the recent demonestisation!

Resurrecting the Press Council

Nireekshak THE term of office of the members of the first Press Council, which came into existence (following the Press Council Act, 1905) in July 1966, ended in Sep- tember 1970 when it was reconstituted. This, the second, Press Council

THE FOURTH ESTATE-Travails of a Newspaper

While this has earned the Left Front government effusive good conduct certificates from the chambers of commerce and other spokesmen of national and multinational big business, this has led to a certain demoralisation and disenchantment among the militant working class in West Bengal a class which remained steadfast in its loyalty to the CPI(M) during the party's most difficult days. Some of the CPl(M)'s own trade unionists gave unambiguous expression to the restiveness of the wotkiitg class in a meeting of the State CITU Council held in the middle of November last and attended by the Chief Minister and the Labour Minister among others.

Undoing Samachar

Undoing Samachar Nireekshak THE government's decision to break up Samachar into its four original components amount to wishing its hands clean of an unenviable legacy of the Emergency. In retrospect the Kuldip . Nayar Committee's exercise would seem to have been a pointless one.

Express Paradox

'Express' Paradox Nireekshak year-old journalist who had gone out of active journalism long ago in Vatsyayan (Ageya). N J Nanporia who retired from The Statesman is entering The Hindustan Times as a 'columnis'.

Travails of an Editor

Travails of an Editor Nireekshak IN quite a few cases, the excesses using the Emergency powers on a newspaper were only a continuation of an old vindictive war. The Dainik Sambad, a Bengali daily from Agartala (in Tripura), and its editor, Bhupen Datta Bhowtnik, incurred as far back as in 1969 the wrath of the state government

White Paper on Media Misuse

White Paper on Media Misuse Nireekshak GOVERNMENT has decided to issue a white paper on the misuse of the mass media during Emergency. An Enquiry Committee under the chairmanship of K K Dass, former secretary to the information and broadcasting ministry, will draw up the white paper, and it has sought information from the public about the "misuse of censorship provisions, harassment of journalists, allegations in regard to certification of films, manipulation of mass media including news agencies, and other incidental matters".

Here s Samachar

Here's Samachar Nireekshak SAMACHAR, India's sole news agency, supposedly private (created as it was through a Voluntary' merger of four existing outfits) has totted up a staggering loss of Rs 97 lakhs for its first year. The tax-payer will have to underwrite the luxury directly or indirectly, for the agency's revenue base hardly warrants its unproductive financial commitments. It has been, for instance, sending every day 200 to 250 words of 'news' to some 20 news agencies of non-aligned countries, spending over Rs 2 lakhs a month. The credibility of Samachar being near zero even at home, it is hardly surprising that those who get its capsule service, unsolicited and gratis, do not touch it. Samachar has given itself other ego trips too, fancying itself the focal point of the non- aligned newspool and the proposed non-aligned news agency, when it is hardly in a position to play any international role.

Willing to Be Corrupted

Willing to Be Corrupted Nireekshak ONE might well agree with the information and broadcasting minister, that little purpose would be served by a 'general and formal" inquiry into the conduct of the Press censor officials and methods used by them for suppression of news. By initiating measures to repeal two fearsome laws


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