Impact of assistance under P.L. 480 on Indian economy 1956–1970

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Abstract

In a developing country a crisis of “food gap” cannot be ruled out because of the aggregate demand of such an economy has a tendency to increase on one hand and the elasticity of supply is low on the other1 There has been a substantial increase in the population of many developing countries since the 1950s and the food production has failed to keep pace with demand.2 One bad harvest in a region could mean food shortage. Bad harvest in two consecutive years could mean disaster. Indian case has to be seen against the background sketched here.

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  • Economic History
Original languageEnglish
Pages (from-to)23-40
Number of pages17
JournalEconomy & History
Volume20
Issue number1
Publication statusPublished - 1977
Publication categoryResearch
Peer-reviewedYes