Social Scientist Monthly Journal of the Indian School of Social Sciences VOLUME 5 JANUARY/FEBRUARY NUMBER 6/7 1977 CONTENTS 3 From the Editor Ashok Mitra 9 Industrial Growth and Income Distribution Suhas Chattopadhyay 24 Falling Tendency of the Rate of Profit in Indian Manufacturing Industries Biplab Dasgupta 49 World Oil, Development, and India P Mohanan Pillai K K. Subrahmanian 73 Rhetoric and Reality of Technology Transfer Mridul Eapen 93 Emerging Trends in Cotton Textile Consumption Prabhat Patnaik S K Rao 120 1975-76: Beginning of the End of Stagnation? K Nagaraj 139 Iron and Steel M J K Thavaraj 159 Has Indian Industry Turned the Corner? Articles in this number express the views of the authors and not necessarily of the editors or of the Indian School of Social Sciences,