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

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PHARMACEUTICALS-Distorted Priorities

through the sale of government securities from its own account (Rs 9,047 crore during 1993-94) and states that not only was RBI credit to government contained at a low Rs 260 crore during 1993-94 but that in the current financial year (up to August 19, 1994) the outstanding level of ad hoc treasury bills declined by Rs 5,305 crore in contrast to an increase of Rs 16,290 crore in the corresponding period of the previous year. AII these have, after all, been made possible because commercial and co-operative banks' credit to government galloped from Rs 13,547 crore during 1992-93 to Rs 26,697 crore during 1993-94 or from Rs 6,791 crore in the first quarter of 1993-94 to Rs 13,939 crore during the first quarter of

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