MONEY SUPPLY-Purposeless Window-Dressing

MONEY SUPPLY Purposeless Window-Dressing THERE took place a phenomenal expansion of money supply by Rs 536 crores in the first week of the current financial year ending April 7, 1978, With this staggering increase, the total expansion of money supply during the 1977-78 busy season stands at Rs 2,134 crores, which is higher than that in the corresponding period of the 1976-77 season by Rs 550 crores. In the financial year 1977-78 money supply rose by 15.4 per cent, which was lower than the record expansion of 19 per cent in 1976-77. In absolute figures, however, money supply expanded almost by the same amount in 1977.78 (Rs 2,402 crores) as in 1978-77 (Rs 2,466 crores). The government will nevertheless, claim credit for the slower rate of growth.