India S Economy

This book provides a succinct non-technical exposition of India's economic performance and policies. It is intended to help students who are trying to sift the vast literature with a view to gaining an understanding of India's economic problems and obtaining a perspective on the policy debates.

After nearly five decades of insulation from world markets, state controls, and slow growth, India embarked in 1991 on a process of liberalization of controls and progressive integration with the global economy in an effort to put its economy on a path of rapid and sustained growth. Despite major changes in the government since then, the thrust on reforms has been maintained. According to the World Bank, only 10 out of 145 countries had more rapid growth than India at over 6 percent per year in the 1990s and two had the same as India's. In this study, T.N. Srinivasan and Suresh D. Tendulkar analyze the economics and politics of India's recent and growing integration with the world economy. They argue that this process has to be nurtured and accelerated if India is to eradicate its poverty and take its rightful place in the global economic system.The study covers the historical roots and the political economy of India's late integration; domestic and external constraints on integration; external capital inflows including foreign direct investment; and India's emerging comparative advantage in the information technology industry and services, particularly computer software. The final chapter offers policy recommendations including proposals that India could make at the ongoing Doha Round of multilateral trade negotiations.

On suggestions to policy makers on economic issues of India post 1997/98 based on experiences in past 50 years.

Essays by leading academics, policymakers, and industrialists examine India's economic success in the late 1990s. India's economy over the last decade looks in many ways like a success story; after a major economic crisis in 1991, followed by bold reform measures, the economy has experienced a rapid economic growth rate, more foreign investment, and a boom in the information technology sector. Yet many in the country still suffer from crushing poverty, and social and political unrest remains a problem. These essays by leading academics, policymakers, and industrialists -- including one by Amartya Sen, the 1998 winner of the Nobel Prize in economics for his work on poverty and inequality -- examine the facts of India's recent economic successes and their social and cultural context. India's rate of economic growth after the 1991 reforms were instituted reached a remarkable 7 percent for three consecutive years, from 1994 to 1997. Several contributors to India's Emerging Economy ask what this means for the nation as a whole. In his essay "Democracy and Secularism in India," Amartya Sen argues that economic progress is not the only way to measure a nation's performance. Other essays examine the actual effect India's economic growth has had on reducing poverty and recommend policies to empower the poor. Essays also address such issues as globalization and the vulnerabilities and opportunities it creates, India's experience with monetary and fiscal reform, the rapid growth of the information technology sector (including a case study of India's software industry), and India's grassroots economy.

This 2nd revised and enlarged edition a highly acclaimed predecessor offers a panoramic vision of the fast changing contours of Indian economy, covered by some of the most well-known scholars on the subject.

India's remarkable economic growth in recent years has made it one of the fastest growing economies in the world. This Oxford Handbook reflects India's growing economic importance on the world stage, and features research on core topics by leading scholars to understand the Indian economic miracle and the obstacles India faces in transforming itself into a modern 21st-century economy.

During The Last Four Years, The Indian Economy Has Been Undergoing Phenomenal Changes. Licensing And Controls Are Being Dismantled. Nationali¬Sation Is Giving Place To Privatisation. Import Of Capital And Technology Is Being Liberalised. Terms And Conditions For The Import Of Capital And Technology Are Being Eased. Attractive Terms Are Being Offered To Multinationals To Induce Them To Set Up Production Units In India. Fast Progress Is Being Made In The Direction Of Making The Rupee Completely Convertible. Imports Have Been Liberalised; Import Duties Have Been Drastically Reduced; More And More Items Have Been Added To The Ogl List. Bank Interest Rates Have Been Freed.In Order To Make A Critical Analysis Of The Changes That Are Taking Place In Various Fields Of The Indian Economy, We Have Planned To Bring Out Five Volumes Covering Different Fields And Including Different Shades Of Opinions. The Present Is The First Volume Of The Planned Five Volumes. The Contributors Of This Volume Are Leading Experts In Their Respective Fields.It Is Hoped That The Book Would Be Found Useful By The Researchers And Students Of Economics, Businessmen, Government Executives Concerned With The Formulation And Execution Of Economic Policies, Parliamentarians And Legislators, And The General Readers Interested In Knowing The Changes That Are Taking Place In Our Economy.