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

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construction of plan projects have led to massive cost overruns. Consequently, even though its 80, 000 wore has been spent, or earmarked for plan expenditure during the first four years of the plan, the lags in the realisation of physical targets have been large and disconcerting. The position of such critical infrastructural facilities as power, railways, and steel, is tending to be so poor that projections of these sectors in the seventh plan have also become difficult to make. The only redeeming feature has been the increased production of oil from the discovered reserves, though even this achievement has been viewed with scepticism on the ground that flogging of the discovered reserves is not a sound policy, especially since new reserves have not been discovered and there is some evidence of slaughter- mining of the oilfields.

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