Price Stability Is Not All

Price Stability Is Not All Report on Currency and Finance, 1970-71, Reserve Bank of India, January 1972; pp ix + 333 + statistics; Rs 18.
THE Reserve Bank's annual Report on Currency and Finance for 1970-71 has at last appeared, many months late. As usual, it presents a comprehensive, if not always analytical, view of the economy during the year. While the country had a fourth good agricultural harvest (1970-71), industrial production showed an early (mid-1970) tendency to decelerate: the production index for the July-December 1970 period was only 3 per cent higher than that for the second half of 1969.