Nagaland- Centres Manoeuvres


than the already alarming levels of the previous year. This has to be seen, of course, against the price and output situation. During the calendar year 1979, the index of industrial production has shown no rise virtually. At best it may show a rise of 1 per cent against an increase of 6.9 per cent in 1978. Yet bank credit to the commercial sector for non-food purposes expanded by over 16 per cent on top of an increase of 22 per cent in 1978-79. One does not have to be a quantity theorist or an unreconstruc- ed monetarist to suspect that these developments must have had more than a little to do with the rise of 21 per cent in the general index of wholesale prices in 1979-80 (upto March 22). Over the year, prices of manufactured products have risen by 28 per cent. For individual manufactured commodities, other than sugar and edible oils, the rise has ranged between 16 per cent and 30 per cent. Sugar and edible oil prices have increased by 122 per cent and 44 per cent, respectively. Food articles have shown an increase of 13 per cent and, within the group, food- grains of 15 per cent. Non-food articles have shown a rise of 21 per cent and, amongst them, oilseeds of 42 per cent. Mineral prices have shot up by 80 per cent.