The Eastern Economist June 24 1949

The only other major change that has been made in the duties of the Auditor-General is the adoption of a provision by which Parliament may entrust him with the work of scrutinising the accounts of any authority other than the Government of India and the Goverment of any State. [...] To what extent the pressure of oposite groups the crude and brutal tactics of corners and bear raids the raging fever of the speculative mania have held the ring is clearly shown by the innumerable breakdowns in the market mechanism the frequent dclarations of emergencies and suspension of trading the serious allegations made against market authorities by the aggrieved parties and lastly [...] In the context of the current pattern of the income ditribution in the community this has led to the increaing withdrawal of the community's savings into the sterile channels of deseutude this withdrawal taking place in terms of speculative bullion prices whicb necessarily carry the germ of heavy capital deprecition. [...] While the planning of industries to produce the sythetic resins and moulding powders to meet all intenal needs must be the responsibility of the Government which has to decide the degree to which it would partcipate in the development of the plastics industry the task of exploring local raw materials and of making a fuller use of natural resins which are available within the country mus [...] The change in the import policy of the Government the accumulation of goods in the dock sheds by a setion of the mercantile community with a view to saving godown charges and the failure of labour to extend full co-operation have all contributed to the deplorable state of affairs.