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

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Decks Cleared for Capitation Fee Colleges

cynically thwarted, Meanwhile, the euphoria about massive direct foreign investment in response to the structural adjustment programme is also beginning to subside. The sponsors of the programme have themselves begun to caution the recklessly enthusiastic operators of the programme in India. The chief economist of the World Bank, Laurence Summers, who earned a measure of notoriety recently for ads vocating shifting of polluting industries to the developing countries as the basis for capital flows from the developed to the developing countries, has ruled that direct foreign investment in the developing countries would depend on their relative credit- worthiness and the rates of return from competing claims on available investment resources. In the "increasingly competitive and discriminating international capital markets

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