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

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 or perspective, which always figured prominently in the reconstitution of the Planning Commission in the past, is naturally totally absent in these conditions. This is not a problem which is exclusive to the new Planning Commission, though planning by its very nature is bound to be completely sterile in the absence of a policy-frame provided by the political leadership, The fact indeed is that policy definition and enunciation is currently being avoided all along the line. No ministry and more particularly no ministry concerned with economic matters has a policy orientation to offer and work upon. Some odd bits and pieces are sometimes heard from; ministers which pass for new policy pronouncements but they need not be taken seriously and cannot he relied upon as revealing the intentions and orientation of the government. The take-over of six more banks, for instance, came as a complete surprise to everyone. What inspired this decision is a mystery. But all are agreed that it has no relevance as a policy on the controversial question of nationalisation or evert the banking industry. The fact, on the contrary, is that there have been persistent and deliberate hints by the powers that be in the government questioning the success of nationalisation measures in the past and canvassing the need to open public sector to greater competition from the private sector. What could have prompted the take-over of the banks, it is therefore suggested, was some consideration other than larger social and economic objectives.

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