Time in India's Development Programmes

In India the high cost of savings makes the efficient use of investable resources crucial. Robert Repetto's empirical study of selected Indian development programs shows that efficiency in investment depends largely on the effective management of time and on success in accelerating the benefits of investment projects. The author discusses improvements at program and sectoral levels that have been adopted by Indian planners and managers, as well as others that may be within reach. Selected case studies indicate how his general argument applies to the development of infant industries, the choice of techniques, and the conduct of social programs. This statistically documented study has implications for development planning in all labor-abundant economies.