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

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Forward Trading-From Tapti to Krishna

Delhi took it for granted that even if American aid were not forthcoming, one could contract loans from private parties in West Europe and Japan on reasonable terms and fill up the foreign exchange gap. Such private capital funds, the realisation must have dawned subsequently, are not available on tap; even when available, the terms are likely to be so stiff as to put into shade the usurious practices indulged in by indigenous money-lenders. And since an empty granary is a great civiliser, there was that greatest of realisations that having dilly-dallied for nearly six months, it was now too late to pick grains even on commercial terms from Canada and Australia; the Soviet Union and China have been there ahead of us.

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