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

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Implications of the 1992-93 Budget

D T Lakdawala In their present mood to appear market-friendly, the authorities often harp on the great liberalisations and exaggerate them, but there is equal need to remember the restrictions that have been purposely retained and to use them when necessary. We can only agree to dispense with them when they are not needed for facilitating rapid growth with equity THE 1992-93 budget is the second budget of Manmohan Singh. Unlike the first one it cannot be said to have been framed in haste. He had also adequate time and op- portunities to get well-acquainted with the trend of thinking of his own and other political parties. One can therefore legitimately presume that the proposals he has now made are indicative of the further lines the financial and international aspects of the new economic policy will take. The budget, therefore, deserves very careful consideration as an economic policy document.

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