...6d. for the rupee for the following reasons: — (1) At the present exchange rate of about Is. 6d., prices in India have already attained a substantial...of adjustment with those in the world at large and any change in tiie rate would mean a difficult pariod of re- adjustment and involve widespread economic...

...than one year. It recommended that the de facto rate be adopted de jure for the reason that (p. 176) "any change in the rate would mean a difficult period...involving widespread economic disturbance. . . .which would in the end be followed by no countervailing advantage." This argument is elaborated by reference...

...already attained a substantial world prices. measure of adjustment with those ia the world at large, and that any change in the rate would mean a difficult period of readjustment. It would lead to wide-spread economic disturbance which must be avoided. 166 In the beginning they...

...Young Commission was their 'conviction, . . . that, at the present exchange rate of about u. (11/., prices in India have already attained a substantial...end be followed by no countervailing advantage'." There was little doubt in anybody's mind that a recurrence of the instability of the exchange rate...

...Is. Gd. and the Commission recommends the stabilisation of this rate on the ground that at this rate prices in India have already attained a substantial...measure of adjustment with those in the world at large. The Commission believes, therefore, that if this ratio is ultimately established tha iprice level in...

...than one year. It recommended that the de facto rate be adopted de jure for the reason that (p. 176) "any change in the rate would mean a difficult period...involving widespread economic disturbance. . . .which would in the end be followed by no countervailing advantage." This argument is elaborated by reference...