two decades of planned industrialisation that industry now considers costs to be a matter of government responsibility. The 'cost-plus formula in price fixation has led managements to cease considering cost control as an area of their own professional operation. At the same; time, the effective protection from imports and the drive fur import- substitution have encouraged the view that indigenous goods must automatically get preference.
The accelerated export growth in the five years 1966-67 to 1970-71 was the result of a combination of factors: devaluation, the industrial recession which released supplies of iron and steel and engineering goods and the development and expansion of exports of certain new items.
Projections, Problems, and Possibilities Angus Hone V K Saxena The Fourth Plan anticipates an increase of 40 per cent in exports, i e, a compound rate of growth of seven per cent per year over the five years, 1969-74.
