Solving India's unemployment through industrial planning. - Page 183 |
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i 170 II of equipment.
Ii I i' Foreign exchanges resources. Estimates of foreign i
'i exchange earnings and the requirements over a period of ' !I five years cannot be made with any certainty. There are II
i many Imponderable variables in the situation. The terms
of trade change from time to time. It is essential to
form a view of the trends In the balance of payments and
to assess the adequacy of foreign exchange resources in * i
the light of requirements. Table XXVI shows the estimated;
balance of payments position for the plan period, 1956-
1961.8
Over the period of five years, the total deficit j
on current account works out at rupees 1,100 crores. This,
assumed that exports will rise from rupees 573 crores in
' 1956-57 to rupees 615 crores in 1960-61. But the imports j
will Increase more rapidly, leading a negative trade I
balance of about rupees 1,375 crores over the five year
period. After allowing invisible surplus, the deficit
on balance of payment is rupees 1,120 crores. In the
interest of domestic economic stability as well as of a
healthy balance of payments position, effective control
of inflationary pressures is a prime necessity. The
balance of payments is sensitive to inflationary pressures.
Delhi, 8InSdeicao:n d GoFvievren-mYeenatr Pofl aInn. diPal,a nn1i95nog) ,C opm.m is9s5i.on (New
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| Title | Solving India's unemployment through industrial planning. - Page 183 |
| Repository email | cisadmin@lib.usc.edu |
| Full text | i 170 II of equipment. Ii I i' Foreign exchanges resources. Estimates of foreign i 'i exchange earnings and the requirements over a period of ' !I five years cannot be made with any certainty. There are II i many Imponderable variables in the situation. The terms of trade change from time to time. It is essential to form a view of the trends In the balance of payments and to assess the adequacy of foreign exchange resources in * i the light of requirements. Table XXVI shows the estimated; balance of payments position for the plan period, 1956- 1961.8 Over the period of five years, the total deficit j on current account works out at rupees 1,100 crores. This, assumed that exports will rise from rupees 573 crores in ' 1956-57 to rupees 615 crores in 1960-61. But the imports j will Increase more rapidly, leading a negative trade I balance of about rupees 1,375 crores over the five year period. After allowing invisible surplus, the deficit on balance of payment is rupees 1,120 crores. In the interest of domestic economic stability as well as of a healthy balance of payments position, effective control of inflationary pressures is a prime necessity. The balance of payments is sensitive to inflationary pressures. Delhi, 8InSdeicao:n d GoFvievren-mYeenatr Pofl aInn. diPal,a nn1i95nog) ,C opm.m is9s5i.on (New |
