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

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Winter of Discontent

reasonable balance between aggregate monetary flows and the availability of real goods and services, taking into account at the same time the need to provide adequate credit for certain priority sectors; in the context of expectations of lower crop outturn in 1965-66, an excessive expansion in bank credit is likely to affect price stability". But this year's statement merely says "the policy takes into account the increased volume of credit demand that is likely to be felt in the busy season of 1966-67 following recovery of agricultural production, a larger quantum of imports and the expected increase in industrial production".

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