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

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Detergents-Market-Determined Policy

against 9,8 per cent in 1977-78. Inventories of these large companies grew by 13.6 per cent in 1978-79 as against 5 per cent in 1977-78 (which probably reflects the price expectations of these firms which in turn perhaps played a Fart in triggering off the rise in commodity prices at the beginning of 197980). Inventories as per cent of sales rose from 27.1 per cent to 27.6 per cent. The share of bank borrowings in the increase in total funds from external sources shot up from 12.7 per cent to 27.3 per cent. Though short-term bank borrowings as a proportion of inventories came down slightly (because of the very sharp rise in inventories), sundry creditors as per cent of sundry debtors rose In other words, the large companies

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