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

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Credit Policy- No Priorities

September 27, 1975 Credit Policy No Priorities AT the recent conference in New Delhi of the Small-Scale Industries Board, the Union Minister for Industry accused the government-owned banks of charging usurious rates of interest from industrial units. This was a curious act, since the credit and monetary policies of the government have the approval of the Union Cabinet, of which the Minister for Industry happens to be a member. It is, of course, possible that the Minister was not questioning the overall con. tours of monetary policy or the general structure of interest rates, but only their application in relation to industrial units, especially small-scale units. In essence the entire matter is linked up with the determination of the inter se priority between the different sectors of the economy apropos of the allocation of bank credit.

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