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

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Advances against Shares-Case for Review of Reserve Bank Directive

with a lag of one year. It may be necessary and possible, however, to base the review of very large projects on a current quarterly basis and even on a month to month basis. In fact, a flexible approach could profitably be followed in which the reference period tor review may be adjusted depending on the importance of the project, the feasibility of collecting all the required data on financial, physical and explanatory factors in time and the speed with which these data could be assimilated, processed and inferred upon. Following a hard and fast rule in choosing the same review period for all types of projects and programmes will defeat the very purpose of constructive review of implementation of plan schemes.

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