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

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belief that an expanded agricultural output will allow the government to increase public investment and stimulate growth in general. This strategy is, how- ever, unlikely to work. First, even if food output rises following the governments' efforts, it is not clear that it can get hold of a sizeable surplus at con- trolled prices or that foodgrain prices will fall voluntarily. If the price of food remains high

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