Growth without inflation
- New Delhi The Council 1965
- 148: ill
The Persistance rise in prices since 1963 has become a matter of serious concern for the country. It will not only affect the planned programmes for development, but also might pose a threat to all the achievements and cherished goals of the country. In fact, inflation is one of the greatest challenges that we face today and, in the context of the bold outlay envisaged for the Fourth Plan, there is a great need for appraising several of the public policies. The National Council decided, therefore, to take up this subject for special study and bring it up for discussion on its Annual Day in February 1965. To help the discussion, it requested its Consultant, Prof. Sidney Weintraub of the University of Pennsylvania, U.S.A., to prepare a working paper on the subject for internal discussion. Prof. Weintraub has made significant contri butions to price level theory and policy in his own country. The paper that he has prepared is one with whose analysis and conclusions the Council does not necessarily agree. Nevertheless it was felt that the thesis propounded by Prof. Weintraub was so interesting and challenging that it merited a full and critical discussion. The Council therefore decided to publish the report without sharing the responsibility for it with the author.