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

Articles by V A AvadhaniSubscribe to V A Avadhani

Rural Retrogression and Institutional Finance

Finance V A Avadhani The object of this paper is to present some evidence of developments in rural retrogression over the last two decades and to examine the role of institutional finance in these developments. These retrograde developments are increasing rural poverty unemployment, relating to these are discussed in Part I.

Incomes and Prices Policy

V A Avadhani THE object of this paper is to offer a critical examination of the rationale of the recent measures in the direction of an incomes and prices policy in India.

Money Supply Analysis-Further Comments

Further Comments S L Shetty V A Avadhani K A Menon IN a recent article, Suraj B Gupta found fault with the Reserve Bank's framework of presentation of data re- lating to 'factors affecting money supply and suggested an alternative approach based on the money multiplier theory of money supply determination.1 Analysing the theoretical and conceptual issues involved, N A Mujumdar has shown that an analysis based on the money-multiplier is unsatisfactory

Import Substitution in Copper

V A Avadhani This paper seeks to examine the extent and nature of import substitution in copper in the con- text of the operation of the world copper market.

Asset Preferences of the Middle Class

V A Avadhani The average rate of domestic savings at around 10 per cent of national income does not appear to be adequate to sustain a growth rate of 5 per cent. While the basic explanation for the low rate of savings lies in the rising levels of consumption, the slow pace of economic growth is to some extent also due to the existing pattern of asset preferences and utilisation of saving rather than the low level of savings per se.1 THE present pattern of asset preferences is such that the major part of the savings of the household sector is in physical assets and currency holdings. The proportion of its savings held in financial assets, namely, shares and securities of the corporate sector, insurance premiums, provident funds, bank deposits and small savings is hardly 25-30 per cent of household savings (Table 1). The high preference of households for physical assets indicates a pattern of utilisation of savings which may not be entirely conducive to growth, as these purchases could more appropriately be classified as consumption rather than investment expenditure.

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