|International Trade in Agricultural Commodities: Some Implications for Environment and Sustainable Development (Research Paper 13) (IRMA, 1994)|
1 Reduction in import duty and excise on (luxury) consumer durables and other items announced by the Union Finance Minister of India in his 1993-94 and 1994-95 Budget Speeches is going to accelerate the pace of western style consumerism in India and further increase India's dependence on developed countries. Both these consequences seem to be against the current economic and political interests of the country. In any case, they are not going to benefit the poor.
2 The New Economic Policy of India seeks to release the latent energy of only top 10-15 % of its population. What is needed is a policy which can release the energy of all its people through better education, nutrition, health care and productive employment. Only such a policy can help attain the goal of sustainable (human) development for everybody.
3 The Government of India has willingly or unwillingly accepted almost all of the recommendations made by the World Bank in its October 1990 report "Trade Reform in India". The accepted recommendations include devaluation of Indian rupee by 20%; sale of equity of public enterprises; 'exit' policy; globalisation and opening up of the economy to foreign capital and lowering of import barriers and import tariffs (Ghosh, 1992: 1176-77).
4 This is based on an abstract of a seminar on "Exports and Economic Growth in India: An Empirical Investigation" delivered by Shri Gopal Kumar on January 22, 1993 at the Institute of Rural Management, Anand.