Little to Complain About

the expansion of extra-budgetary resources for the plan, the so-called internal resources of public enterprises, is also tending to taper off. Thus the increase expected in these resources for the plan in 1987-88 is, in absolute terms, only one-half of that in 1986-87. Clearly, the government has reviewed some of its earlier expectations of the ability of public enterprises to generate surpluses through more efficient working and/or increases in administered prices. More interestingly, it also appears that the government has given in to the clamour of the private sector that the public enterprises' recourse to the capital market for raising loans should be restrained lest the private sector be 'crowded out' and face difficulty in raising funds for itself.