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

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Punjab- Half Measures

of the large foreign exchange outlay on these imports and the resultant enlarged per capita availability, the rise in edible oil and sugar prices of the above order should be regarded as a matter of concern. Also, there is the daunting prospect of the imports needing to be continued on a regular basis, in the case of edible oih especially, if the rise in prices is to be prevented from getting completely out of hand. Not surprisingly, therefore, the Economic Survey admits that "the maintenance of reasonable stability in prices is likely to pose an important challenge during the period of the Seventh Plan". The task, the Survey further concedes, is going to be a difficult one because, first, "our options in respect of importing commodities in short supply are likely to be constrained" by worsening balance of payments and, second, there has occurred "a sharp buildup of liquidity in the system because of large expansion in money supply in each of the three years since 1982-83".

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