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

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South Africa-No to Economic Sanctions

trative terms Should the Janata party's hope for achieving the seven per cent rate of growth lie in the fact that the utilisation of current idle capacity in certain industries and the shift in favour of agriculture may enable the economy to enjoy a favourable capital-output ralio, it is taking a very myopic view. For, capacity utilisation in basic and capital goods industries where the under- utilisation of capacity is the highest - requires almost commensurate investments in the user industries such as fertiliser, cement and paper, which are also capital-intensive. As for agriculture, there is now a consensus that if hitherto the sector has failed to grow at a satisfactory rate it has not been for want of adequate financial investments.

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