INDIAN ECONOMY 39
time, while there is increasing pressure on the public distribution system as people turn to it for relief, the government has raised the issue price of wheat and rice. In the case of wheat the rise in issue price is steeper than that in the procurement price and additional resources were in any case being mobilised by a 20 per cent increase in the price of wheat to flour mills.
To sum up, on the one hand recessionary trends are visible in a number of sectors of Indian industry and a significant upsurge in exports appears unlikely, while on the other, import liberalisation is likely to proceed further over 1982-83 and the next year. Given the increased debt servicing burden and stagnant export earnings it appears likely that we might have to borrow simply to service our debts.
1 Government of India, Ministry of Commerce. Report of the Committee on Import and Export Policies, (Alexander Committee), New Delh', 1978.
2 Government of India, Ministry of Commerce, Report of the Committee on Export Strategy, (Tandon Committee), New Delhi, 1980.
3 Government of India, Ministry of Finance, Report of the Committee on Controls and Subsidies, (Dagli Committee), New Delhi, 1979; Annexure Table 8. 1.