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

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THE basic premises underlying the Budget for 1975-76 are betrayed, in a short sentence very early in Part A of the Finance Minister's speech. After referring to the impact of recent internal and external economic developments on the living standards of the people and on the pattern of real incomes in the country, the Finance Minister goes on to say, ''What is even worse is the persistent rise in prices which has eroded the capacity to save and thus imposed a painful constraint on the flow of investible resources so urgently needed to sustain our plans for a better future" (emphasis added). This is the good old division of society into savers and non-savers. The 'savers' are those who provide the wherewithal for investment and growth

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