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

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Not By Ordinances

Not By Ordinances FOR sheer hypocrisy, it would be difficult to excel some of the recent statements by government spokesmen on the economic situation. There have been, for example, the Prime Minister's speech at Bangalore (July 12), the Finance Minister's address to the Youth Congress conference at Poona (July 14), the Planning Minister's speech to a meeting of the Consultative Committee of his Ministry (June 5), and the draft AICC resolution on economic policy, which claims to have been inspired by the Prime Minister's speech at Bangalore, approved by the Congress Working Committee and released on July 15. The tone of all these statements would suggest that the government was not at all responsible for the mismanagement of the economy in the last few years. Some obvious changes' in the official view of the economic situation, as revealed in these statements, need to be noted first. For one thing, the Prime Minister and her colleagues seem to have realised that their reading of the economic situation hitherto has been wrong. Till very recently, inflation was being underplayed by the government as being not so serious. Now the Prime Minister acknowledges that "the rise in prices is the gravest of our problems . . . Inflation of this order will subvert our hopes for the future''. Earlier, in more than one public speech, the Prime Minister had attributed the inflation to international factors. Now she admits that "our inability to accelerate production and prevent distortions has contributed to [the inflation]".

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