Agricultural Trade and India's Balance of Payments (An Old and Rare Book)

In the current literature on the subject the impor tance of sectoral trade balance particularly when the sector happens to be dominant sector, is not carefully analysed. The author's contribution, in this context is, therefore, all the more valuable. The author has pro pounded the thesis in a convincing manner on theoretical grounds as well as on the basis of empirical facts. He has covered in this study the most significant aspects of international trade in agricultural exports and imports over the period of 25 years.

Dr. R. Keshav is Reader in Economics, Maharaja's College, Mysore. He obtained his B.A. and M.A. Degrees from the University of Mysore, in 1964 and 1966 respectively. Subsequently, he obtained his Ph.D. Degree from the University of Mysore, in 1980. He has been teaching the undergraduate classes. for the last seventeen years. He has contributed articles both in English and Kannada to several learned Journals and Kannada Encyclopaedia of the University of Mysore.

Sectoral approach to the analysis of the Balance of Payments is, indeed, a study of recent vintage. A country embarking upon planned economic development is bound to experience the balance of payments barrier. Hence there arises a need for designing development plans in consideration with the balance of payments situation. The present study Agricultural Trade and India's Balance of Payments" has high lighted the nature and magnitude of fluctuations in India's balance of payments caused by the trade in agricultural products and inputs. Since agriculture happens to be the linchpin of Indian economic chariot, the study has shown how the agricultural trade could be made to serve as an engine of growth and how agri cultural planning could be made, consistent with the balance of payments considerations of the economy as a whole. A study of this kind brings to light the need for co-ordination between sectoral plans and national economic plan and helps in reconciling the sectoral and aggregate economic policies aimed at maintaining balance of payments equilibrium. It is hoped that the book will be useful to all those who are interested in the study of Development Planning. The book is a slightly abridged version of my doctoral thesis for which I was awarded the Ph.D. Degree by the University of Mysore, Mysore. I am bound in gratitude to the University of Mysore for undertaking the publication of my thesis. I am highly thankful to Sri K. T. Veerappa, Director of Prasaranga, University of Mysore, but for whose interest and enthusiasm, the thesis would not have come out in this in a very short time. In addition, I profusely thank the Propritor of Literary Press, Mysore and its Staff for neat execution of printing. My acknowledgements to personalities and institutions are, indeed, boundless. I am exceedingly indebted to my esteemeed Professor, the late Dr. G. T. Huchappa, M.A., Ph.D (New York), University of Mysore, Mysore, who encouraged me to work on this unexplored field of study. His blessings instilled courage in me to pursue this study. With amiable disposition as well as constant affectionate enquiries about the progress of my research work, Dr. M. Madaiah M.A., Ph.D (Southern Illinois), Professor and Head of the Department of Post-Graduate Studies and Research in Economics, University of Mysore, Mysore, has been a source of inspiration in my endeavour