India's ruling Congress Party's top policy-making body, the All-India Congress Committee (AICC), began a three-day conference on Friday (19 July).
India's ruling Congress Party's top policy-making body, the All-India Congress Committee (AICC), began a three-day conference on Friday (19 July). The main topic -- dominating all others at the meetings -- is the grave economic crisis which now faces the nation.
Inflation in the country is running at just under 30 per cent a year and the Government is continuing work on a package of legislation to curb the deteriorating situation.
An economic policy resolution is expected to support measures, such as recent curbs on wage increases and company dividends and call for drastic steps to cut back on consumption, increase agricultural and industrial production and bring down prices.
The Party is also expected to direct the Government to impose ceilings on urban property holdings and tax the incomes of affluent farmers.
The meeting opened with an address by the AICC's President, Mr. S.D. Sharma. He spoke about the country's economic problems and said opposition parties were trying to exploit the situation and were conspiring against the Government.
Mr. Sharma also condemned the ousting of cypriot President Makarios and warned against a similar conspiracy being hatched in India.
Prime Minister Mrs. Indira Gandhi and her cabinet colleagues attended the conference's first day, but she did not speak.