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

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NEW DELHI-Co-operative Farming for Whom

per cent in 1973-74. Thus profit margins and profitability of industry in the private sector were generally much better in the Fourth Plan period than they were at any time in the past' The higher profit margins were made possible by certain factors external to the private corporate sector and certain others internal to it. Externally, the injection of vast amounts of money through bank lending to government, government-owned corporations and private commercial enterprises helped the private corporate sector to appropriate a larger share of aggregate money incomes. The period under consideration saw a disproportionately large expansion of money supply. Money supply grew by 8 per cent in 1968-69 and 10.5 per cent in 1969-70; in the next four years it rose by 11.8 per cent, 14 per cent, 15.7 per cent and 15.2 per cent, respectively. In the five years of the Fourth Plan taken together, money supply rose by as much as Rs 5,070 crores, or by 100 per cent During the same period, the wholesale prices index for all commodities (base: 1961-62= 100) rose by 72 per cent.

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