Inflation And India S Economic Crisis

India. Monograph on the short term inflation crisis, its causes and economic policy recommendations - includes supply and demand factors influencing inflation, such as fiscal policy, monetary policy, price controls, the black market, a shrinking tax base, insufficient agricultural production and industrial production, etc. Statistical tables.

While this book covers several technical issues which will interest professional economist and policy-makers, it is also wholly accessible to the general reader.

This book discusses the Indian economic crisis and brings out what went wrong and the correction necessary for getting the economy back to high growth trajectory, leading to economic transformation. To do so, the book covers trends in performance of Indian economy since the Global Financial Crisis to the COVID-19 effect, bringing out factors that have determined the same. The book questions the approach to macroeconomic policy of both the RBI and the government and brings out what it takes for macroeconomic policy to be supportive of high growth. It contains revealing contrasts with East Asia and China, although India has the same potential to grow with an expansion of manufacturing. Overall, it argues that macroeconomic policies (as much as structural, industrial, and trade policies) have been deficient and even good initiatives on the industrial policy and trade flounder for the lack of a strategic approach to macroeconomics. The book highlights the special opportunities present in an emerging economy with vast under and utilised labour and the macroeconomic policy initiatives that can take advantage of this key feature. It covers the macroeconomic data on growth using multiple indicators, then the external shocks and the internal policy measures/responses; besides, GVA/GDP, credit, exports, external transactions, interest and policy rates, yields, exchange rates, money, capital flows, indices of industrial sector, price indices and inflation, government expenditures, tax rates, fiscal deficits, market uncertainty measures to present a holistic picture of the economy and the shocks and policy actions that have followed. The book uses an innovative method of presentation and the consistency of the trends/stances of both monetary and fiscal policy using these large number of variables. It discusses the debate on overestimation of GDP/GVA growth estimates over the years from 2011-12 to about 2016-17 comprehensively. There is special coverage of GST with a comparison with China. Coverage also includes performance since the COVID-19 crisis again using a large number of indicators and an explanation for the same in terms of the limitations of the government’s initiatives to counteract. The book is a quick and ready reference of what has happened in macroeconomic terms to those interested in the relevant facts. It is of interest to international economists, policy analysts, and investors whose need to understand that the Indian economy in macroeconomic terms and in terms of the stances and penchant of the government and the RBI is of value.

The National Debate About The Advisability Of Opening Up The Economy, Going In For An Imf Loan, Restructuring The Economy, Privatisation Of Public Sector Undertakings, Rationalising Tariffs And Abolishing Subsidies Etc. Is On. The Tenth Lok Sabha Has Produced A Hung Parliament After The General Elections. The Post Independent India Had Misfortune Of Having Government Going For Soft Options Resulting In Gradually Mounting Budgetary Deficits. Economic Indiscipline Has Always Been Seeking New Ebbs. This Has Pushed Up The Inflation Rate Into Double Digits. Spiralling Non-Plan And Non Productive Government Expenditure Coupled With A Slowdown In Tax And Revenue Collections Have Brought The Country To The Bsink Of Bankruptcy. The Continuing Xenomania In Approach To Foreign Investment And The Lackadaisical Attitude In Dealing With Public Sector Undertaking Has Led To Industrial Stagnation. Everyone Is Agreed That Drastic Measures Are Called For To Set The Economy Right. But Ideological Considerations And The Hangover Of 40 Years Of Planned Mixed Economy Are Holding Back Both Politicians And Bureaucrats From Taking Bold Initiatives. This Collection Of Articles Reflects The Dilemma That The Country Faces Today. Time Alone Will Tell How India Survives The Crisis.

Study of the crisis in the economy and of economic policy of India - covers economic theory, savings, investment, economic planning for economic growth, inflation, and the possibility of adopting a socialist system. References and statistical tables.