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

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Calcutta Diary

AM WHO is fooling whom? The pre- budget "Economic Survey" puts a brave face forward. Notwithstanding the setback on the farm front and the slowing down of industrial growth, gross national product in 1982-83, it assures each and all, is likely to go up by 2 per cent, so that for the three years 1980-81 to 1982- 83, the annual rate of growth of national income would work out to around 5 per cent in real terms. Hurrah, what an economist has described as the 'speeding up' of Indian economic development in the recent period would thus seem to be more than proved; the Indian economy has, at long last, been extricated from the straight jacket of a 3 to 3.5 per cent rate of growth, which had till now threatened to go on for ever.

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