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

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INTERNATIONAL DEBT-Trap of Debt-Equity Swaps

economic policies have in the last few years suffered from neo-classical distortions is that of imports, foreign collaborations and external borrowings. Technological upgradation of Indian industry may have required some degree of exposure to advanced foreign technology, but the question is really one of the kind of technology, the priority areas where foreign technology is to be introduced, the terms on which such technology is to be obtained and the scope for local adaptation. This kind of selectivity and discretion is possible only if there is some definite scheme of priorities guiding economic policies. This is true whether one is talking of foreign borrowing or liberalised imports. While data of a qualitative nature

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