Articles by K A Menon

in Indian Corporate Sector K A Menon Study of the behaviour of the average rate of interest or the share of interest cost in the value of production and value added, though important in itself, does not provide conclusive evidence of the nature of the interest burden borne by industries. This paper seeks to assess the interest burden on the corporate sector against the accepted norm of marginal efficiency of capital. Data for the study are taken from the analyses of the finances of non-financial companies periodically conducted by the Reserve Bank of India and the ICICI.

K A Menon This paper attempts, for the first time, to present information on two important money stock measures, M1 and M3, for the States and Union Territories, Monetary statistics at present compiled and published by the Reserve Bank relate to monetary aggregates on an all-India basis. The spatio-temporal movements in money stock measures and their causative factors are subsumed in these data, rendering it difficult to study State level trends.


leaders were concerned Congress interests were national interests. For them, Congress was a party with a mass base which was trying to bring into effect the Gandhian programme of national reconstruction. Misra goes on to condemn the Congress for being 'hungry for power'' One wonders what he considers the business of a political party to be! After two centuries of British exploitation it was not, only the Congress but the Indian nation which was hungry for power. Misra has failed to understand the rationale of the Congress movement, and by trying to pin it down as the party of the upper middle classes makes some bad misjudgments about modern Indian history.