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

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Tasks before the Economists Panel

Tasks before the Economists' Panel V K R V Rao I WELCOME the setting up of an Economists' Panel by the Prime Minister to advise her on matters relating to national economic policy. The Panel she has constituted is compact and business like and its members are' rich in knowledge and experience and the resulting expertise; and it is headed by m economist whose social commitment is of a conspicuously established character as shown by his contribution to the first draft outline of the Fifth Plan, The country has great hopes in the ability of the Panel to offer constructive policy solutions to the Indian economic, and social problem and I count myself as one who shares these hopes, The problems we face relate both to the the short-period and the long-period; and I don't see them easily dove-tailing into each other. It is true that in the long run, we are all dead; but this applies only to individuals and not to the community or the Indian nation. In any case, we do not want our country to die. It is therefore essential that whatever we do for the short-period should also be in the interests of the long-period and not be a hindrance to its achievement. Our long-term interest is an India free from mass poverty and unemployment, with a reasonable measure of equality in its structure of incomes and wealth, with social and economic viability and stability, and a political system that will retain the democratic values which lay behind the constitution we gave ourselves in 1950. This tying up of short-term policies with longterm interests in one of the imperatives of national economic policy; and one expects the Economists' Panel to do this or at any rate draw clear attention to the long-term consequences, of anv short-term policy that may currently be followed or that they may recommend for the country.

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