Word: primed
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Dates: during 1960-1969
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...action would be subject to later approval by the All India Congress Committee, a far larger forum of 700 delegates. The working committee is considered unlikely to take the drastic step of expulsion, primarily because it would tear the party apart -and perhaps leave Indira as a non-Congress Prime Minister with leftist support. The alternative possibility of bringing down her government with a vote of no-confidence was all but ruled out by her show of strength among the Congress M.P.s. In any case, Indira is not overextending herself to placate the right-wingers. After the election she made...
...have one mighty club: he can dissolve Parliament. Only three times since India won its independence in 1947 has this power been used, and then mainly as a routine prologue to scheduled elections. Should Indira run into serious political difficulty, however, such a dissolution would leave her as caretaker Prime Minister for six months, and thus allow plenty of time to prepare for the required elections...
Since the program began in 1965, banks have lent $1.4 billion to 1,600,000 students, with the Government paying the interest until after graduation. The trouble is that the interest rate paid by the Government has remained at 7% while the prime lending rate has climbed to 8.5%. As a consequence, some lending institutions have withdrawn from the program entirely and others have restricted new loans to students with whom they were already doing business...
...prime rate on loans to businesses by major banks remains at a record 8½%, but now bankers are talking of possible future cuts rather than further increases in the rate from which all other interest rates are calibrated. Gaylord Freeman, chairman of Chicago's First National Bank, goes so far as to predict that the prime rate may drop to 7½% or even 7% by year-end. Most bankers and economists are more cautious. They warn that interest rates could yet bounce up again. So far, though, demand has been dropping more than it usually does...
...construction unions to use the Federal Mediation Service frequently to smooth over their disputes before they erupt into costly strikes. Within the Nixon Administration, there is also discussion of legislation to limit the power of local unions to balk at settlements agreed to by their international unions-a prime source of trouble in construction costs...