has also resorted to substantial short- term borrowings from the banking system, Cotton textile companies' borrowings from banks as a proportion of their inventories was around 27 to 30 per cent in the First Plan period; it rose to 53 per cent in 1960-61 and further to a peak of 78 per cent in 1968-69 and continued around 70 per cent in the period from 1970-7] to