Foreign aid to India is a subject which has attracted good deal of scholarly attention. Its topicality, too, has seen many revivals, the latest occasion being Carter’s visit to India early this year. Surprisingly, the works available so far have failed to present an in-depth analysis on the subject, verging either more on the biased side or betraying a much too configurative approach. B.N. Banerjee’s attempt is not an exception. Though purporting to deal with foreign aid to India in general, he confines himself to US aid with only sporadic references to aid from other quarters.
The book has been divided into six chapters of which four merit critical attention. The other two are not intended to be analytical chapters. While chapter III deals with ‘The Cooley Loan Programmes in India’, chapter IV contains a more or less descriptive account of the ‘termination of US aid to India’. The other four are examined here in detail.
The first chapter deals with ‘What is foreign aid?’ (though the writer incorporates a number of allied, and at places even unrelated, topics). Aid is defined as ‘a concessionary transfer of public resources from the developed countries to the developing countries for the latter’s economic development’.
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