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

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Defection from Development

expenditure is also to be expected, along with some jacking up of excise and import duties. Scaling down of export duties may not hurt revenue very much if exports increase sufficiently, and dutiable imports might be higher next year if the economy gets back into stride soon. On the other hand, export subsidies may absorb more. Demands for additional dearness allowance would, perhaps, remain, along with the need to clear over drafts of States. Finance for food- grains stocks, one can assume, will come from PL 480 funds and commercial banks. It is difficult to anticipate the net effect of these pluses and minuses, but it would not be over-optimistic to estimate that the major part of a Rs 200 crore increase would be covered by more or less non-inflationary sources of finance. This is not too great a risk for getting back on the growth curve.

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