Page:Indian Journal of Economics Volume 2.djvu/621

 EGONOMIO DEFELO_PME 608' tures that might be issued, reserving, of. orse, the right to buy out a company st any time sfer twenty or thirty years. General Planning of Eoononiv DeveZon, ent nd Finance This paper has already occupied much more than the silotied time, I am afraid; but in bringing it to conclusion I wish particularly to have the oppor- tunity of drawing principles nco received all plans affecting which merit but little. your economic development the closest attention, attention to some general and its and have for and its effects economy. The development application made, but economic ought to be most carefully prepared and the light of economic theory, which concerned with the nature of. such capital upon revenue and economic schemes would not also replace regarding what are donee and boldness In general I would say first that development and its finance criticized in is intimately expenditure upon the social . theory of the finsnee o! is well understood, and its only prevent mistakes an of recurring really sound proposals in realization. I being hesitation by confi- have already dealt with this subject at some length in a series of. articles on Tlz Art of Econom{c DveolmSnt roecurly published', consequently I need not-take up your time o-day by entering into theoretical questions. It is necessary, however, to mention one subject dealt with in the articles just mentioned, namely the need for correlation of development measures which are to be carried out in any region. Hitherto there has been usually liffie. or no effort made o reap the full benefit of. expenditure on development by plann- ing the separate measures so that they intersot upon one another. If thus co-ordinated they produce a I fJO0 zidif Joirll&l of Eoonomio, 'Vol. H, peris 1, 2 ezld 8.