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

A+| A| A-

Punjab- In Congress (I) Interest

on the IMF credit as well as the commercial loans already contracted. In its latest report on the Indian economy, prepared for the recent Con- soriam meeting, the World Bank has projected that, even with an export growth rate of 10 per cent per annum. Indies need for medium and long le m commercial loans would go up from less than $ 2 billion currently to over $ 9 billion by the end of the Seventh Plan in 1989-90 and its repayment lability on such loans would rise from about $ 250 million in 1983-84 to over $3 billion. Government spokesmen never lire of claiming how. in contrast to some other developing, countries, we have followed 'prudent' policies with regard to commercial borrowing. But it does not appear that it will be possible to continue these prudent policies for much longer unless the government is prepared to take a hard look at its import policies.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Back to Top