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

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Axe on Investment

Skylark 284 Frere Road Bombay 400 038 Grams Econweekly
Grams Econweekly Editor Krishna Raj Associate Editor Rajani X Desai Assistant Editor M S Prabhakar Editorial Staff Colin de Souza, K Vijayakumar Manager J K Thakkar Atisedvement Manager R Venkiteswaran Axe on Investment THE union minister for revenue and banking told the consultative commit tee of Parliament attached to his ministry last week that money supply had risen by 10.4 per cent in the first eight months (April-November) of 1976-77 against a rise of 5.2 per cent in the corresponding period of 1975-76 and of 9.7 per cent in the whole of that year. However, reflecting the government's concern at the upward trend in prices, he held out the assurance that money supply would not be allowed to increase by even 2 per cent in the last four months of the financial year. Two questions arise. First, will the authorities really be able to contain the expansion of money supply this year to about 12 per cent? Second, whether the monetary expansion is contained at 12 per cent or even at 16 per cent, at what cost will this be achieved?

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