Indian Journal of Economics January 1950

The former arc convinced that democracy can be achieved only through the dictatorship of the prletariat and the latter are equally convinced that it ought and can be achieved by the joint and co-operative efforts of all groups of workers namely the peasants the proletariat the artisans and the professional and intellectual classes. [...] The various plans prepared by some of the economists of the F. A. 0. are devised to Kotect the surplus cquntrics from the fear of a slump in the prices of their food-grains to sell the surpluses at prices within the reach of poorer peoples and to place the220 PROF. [...] The Board's advice however with its inevitable emphasis on the maintenance and extension of controls fell on unsympathetic cars as the Government of the day seemed to identify controls.witti war economy and thought that the end of the one should also see the end of the other. [...] The extent of dependence in the case of jute industry upon imported supplies of raw materials is of the order of about 70% while in the case of cotton manufactures it is of the order of more than 40%. [...] The major factor that stands in the way of the expansion of our exports is the high-price factor; devaluation has helped to some extent in regard to the dollar areas and would also be of assistance in the sterling areas if the rupee was devalued in terms of the sterling as well.