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

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Foreign Exchange Reserves

THE manner in which the problem of what to do with our foreign exchange reserves is being approached within the government is most curious consi-dering (a) that we are supposed to have over two decades of economic planning behind us and have just given final shape to the fifth in the series of five-year Plans; (b) that for almost all of this period lack of foreign exchange has been accepted as one of the major constraints on higher invest-ment and faster growth; and (c) that it has been one of our explicitly stated objectives to reduce, and do away with, dependence on foreign aid

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