INDIA
PURCHASING POWER. In the course of memorandum submitted to the National Planning Committee, the Indian Chamber of Commer, Calcutta have pointed out that the chief problem in India is not that of “overproduction’ but underconsumption,” due to low purchasing power. They say that the available supplies of cloth, wheat, rice and other grains are very inadequate to ensure an adequate standard of living. The figures of cloth and sugar consumption that they give are as follows:— The present consumption of cloth is estimated to be 10 yards per head on the basis Of the available supplies fif about 6400 million yards per year, whereas it should be at least 50 yards per head. The present per capita sugar consumption in India is 321bs. per annum including “gur” (unrefined sugar) as against 1051bs in U.K. and Australia, 94 in U.S.A. 55 in France, 51 in Germany. Thus they have emphasised the need of Increasing the' purchasing power of the people.
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Grey River Argus, 20 September 1939, Page 12
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160INDIA Grey River Argus, 20 September 1939, Page 12
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