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

A+| A| A-

Calcutta Diary

A M STATISTICS is putty clay, you can mould it to suit whatever purpose is in mind. Bur some facts can be so glaring that they leave scope for few alternative formulations. The deficit in the nation's balance of trade during the first two months of the current fiscal year has been double of what it was in the corresponding period last year. At this rate, the overall gap in the trade balance, for the fiscal year as a whole, could even approach Rs 10,000 crore, roughly 10 per cent of our national income. If other developments do not intervene, our entire foreign exchange reserve could thus be wiped out in the course of the year. Even if full account is taken of the sustenance flowing from instalments of the International Monetary Fund's EFF loan, the substance of" the peril will remain unaltered.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Back to Top