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

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Consensus on Import Promotion

tax burden as light as possible.
Presumably, the States have argued that the nationalised banks are surely not expected to resort to the old practice of taking advantage of the market to buy loans at a discount. The States may well expect the banks to support and nurse their loans through initial subscription and actually siphon off the load from the market instead of indirectly adding to it as in the old days. In other words, they expect the nationalised banks to support State loans just as the Reserve Bank supports Central loans.

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