CONTENTS

Founder-Editor: Sachin Chaudhuri Vol IX No 51 December 21, 1974 Skylark 284 Frere Road Bombay 400 061
Grams Econweekly Editor Krishna Raj Assistant Editor Rajani X Desai Editorial Staff Colin de Souza, Ashok Rao, A A Dalvi SHORT-TERM economic forecasting is a popular pastime in some of the Western countries. Private and official economic research organisations in, for instance, the US or the UK periodically put data on output, paces, demand, employment and the like under the microscope to come up with prognostications about the likely state of the economy over the next year or half-year and prescriptions for monetary, fiscal and wage policies, etc. The fashion is apparently catching on here