Articles by S K Rao

of Kerala Joan P Mencher The purpose of this paper is to examine the nature of agrarian relations in the two main rice regions of Kerala, Kuttanad (a low-lying area covering parts of Alleppey, Kottayam and Quilon Districts) and Palghat, in order to examine one, forces interfering with production and, secondly, the elms relations that serve to impede a more equitable distribution of food and other commodities. The paper describes some of the striking contradictions in each area, and offers some tentative predictions for their future development.

Wage Policy in a Mixed Economy S K Rao A Theory of Wage Policy by A K Das Gupta; Oxford University
IF you are asked to decide what should be the wages or salaries of, say, government employees, how would you go about it? A K Das Gupta, who is one of our eminent economists, faced a similar question when he was appointed member of the Third Pay Commission; and this little book is an outcome of his valiant efforts to come to' grips with the question.

S K Rao IN spite of all the indicators pointing to low investment activity in the economy on the one hand and a rapid increase in money supply on the other, tight conditions are reported from the money market every day. This raises the question: if the expansion in credit is not financing new investment where is it going?

The Inflationary Process: Some Theoretical Comments Prabbat Patnaik S K Rao Amal Sanyal It has been argued that the recent inflation in India cannot be explained only in terms of high levels of government spending in the face of inadequate levels of agricultural (especially foodgrains) production; that, in addition, prices have been pushed up owing to speculative stock-holding engendered by the upward revisions of the minimum support or procurement prices for foodgrains. Accelerating inflation has therefore gone hand in hand with addition to the level of stocks held for speculative reasons.


1976 for an examination of this claim. He cautions that while the existence of considerable under- utilisation of industrial capacity is a matter for legitimate concern one has to he careful about the estimates offered and even more about the uses to winch they are put. Raj strikes a note of caution with respect to the estimates of underutilised industrial capacity now being put forward and the ''programmatic policy recommendations" based thereon. 6" It ought to lie mentioned, even though in a footnote, that the sector which has shown maximum growth of output in 1975-76 is the public sector. Coal output has risen, in two years, by 25 per cent. In the current year, the power system is expected to register an increase in output of 12 per cent- Also. public sector units in general have shown a distinct improvement in output. So the lead in improvement this year can be attributed to the public sector.