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

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NEW DELHI-Compulsions of Aid

NEW DELHI Compulsions of Aid B M THE Indian delegation to the annual meeting of the Western aid consortium at Paris is naturally very gratified with the results of the meeting. There is to be a step-up of aid by $ 200 million to a total of $2.3 billion during the current year. There is no provision or relief this year in the repayment of old debts, but that is not a cause for worry since this country's foreign exchange reserves position is sound and repayment of about $ 600 million on this account will not pose much of a problem. The delegation was also able to like a good impression on the aid- givers by pointing to the significant liberalisation of import policies and procedures which had already resulted in the emergence of a substantial trade deficit last year and the expectation that the deficit would widen in the current year. This apparently made it possible for our aid diplomats to make a strong case for continuing foreign aid. not only for the benefit of the aid-givers but also that of public opinion in India which might normally have questioned the need for foreign aid when there is so much talk about our burgeoning foreign exchange reserves.

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