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Indian Economy Since Independence: A Comprehensive and Critical Analysis of India's Economy, 1947-2018

Indian Economy Since Independence: A Comprehensive and Critical Analysis of India's Economy, 1947-2018

Autorzy
Wydawnictwo Academic Foundation
Data wydania 30/01/2019
Wydanie 29
Liczba stron 1026
Forma publikacji książka w miękkiej oprawie
Poziom zaawansowania Dla profesjonalistów, specjalistów i badaczy naukowych
ISBN 9789332704732
Kategorie Ekonomia rozwoju, Nauki polityczne, Historia ekonomiczna
277.27 PLN (z VAT)
$73.01 / €60.96 / £53.08 /
Produkt na zamówienie
Dostawa 3-4 tygodnie
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Opis książki

Newly revised, this edition is a core text for graduate and postgraduate courses in the Indian economy. Select articles by a number of India's foremost economists and experts provide fresh insight into the fast emerging economy of the world's largest democracy. The original contributions are supported by editorial notes and excerpts from plan documents.

Indian Economy Since Independence: A Comprehensive and Critical Analysis of India's Economy, 1947-2018

Spis treści

Contents
Preface 23
Acknowledgements
About the Contributors


Part I
Planning, Institutional Framework,
Constraints and Role of the State
1. Indian Economy at Independence
Uma Kapila
The Colonial Regime
The India of 1947
The Agrarian Scene
The State of Indian Industry and its Structure
The Planning Era

2. Planning, Market and the State
Editorial Notes
Structural Constraints and the Development Strategy
Role of the State as Visualised in the 1950s
Evolution of Strategy and Priorities
Changing Perceptions
Role of Planning in a Market Economy
Redefining the Role of State
The Government, the State and the Market
Relevance of Planning Commission
NITI Aayog: Role and Functions

3. Economic Reforms: Looking Back and Ahead
C. Rangarajan
Break with the Past
The Genesis of Reforms
Questions on the Reform Process

4. India's Economic Reforms: Reflections on the Unfinished Agenda
Vijay Joshi
Introduction
State Ownership
Employment Creation
Deep Fiscal Adjustment
Primary Education
State Capacity
Concluding Remarks

5. Fiscal and Budgetary Developments: Prospects and Reforms
Editorial Notes
Introduction
Fiscal Balance and Fiscal Reform
Budget 2018-19
A Comprehensive Tax Reform to Promote Inclusive Growth
Conclusions
6. Demography and Development
Editorial Notes
Introduction
Economic Development and Population Growth
The Microeconomic Theory of Fertility
Demographic Change and Economic Growth
Key Features about India's Population
Gender Equity and the Demographic Transition
Population Policy since 1947
National Population Policy, 2000
Human Resource Development
Development and Education
Public Expenditure and Education Policy in India
Education for All
India's Health Care Crisis
Healthcare as a Social Responsibility
Disparities and Divides
Tamil Nadu: The Success Story
Human Development: International Comparison
The Future
Demographic Dividend and Related Policy Interventions
India's Economic Prospects

7. India's Demographic Transition and its Consequences for Development
Tim Dyson
India's Demographic Transition
Urbanisation
The Future
Discussion
Part II
Growth and Structural Change since 1950
8. Growth and Structural Change Since 1950
Editorial Notes
The Performance
India's Growth Turnaround
Recent Growth Record
Aggregate Demand
Performance on Inclusiveness
The Need for Faster Growth
Growth and Structural Change
Sectoral Growth Trends
Growth and Sectoral Shares, Cross-Country Evidence and Indian Experience
Inter-Regional Disparities in Growth and Development
The Way Ahead
Growth Prospect: An Assessment
Sustainable Development and Climate Change

9. The Recovery of India: Economic Growth in the Nehru Era
Pulapre Balakrishnan
Introduction
Nehru-Mahalanobis Strategy
A Record of Growth in the Nehru Era
Caricature of a Vision: Through a Glass, Darkly
Conclusions

10. Pressing the Indian Growth Accelerator: Policy Imperative
Rakesh Mohan and Muneesh Kapur
Introduction
The Indian Economy: A Story of Consistent Growth
The Golden Era of Growth: 2003-2008
Consistent Growth in Savings and Investment
The Great Slowdown: 2012-2014
Getting Back to High Growth: A Simulation for 2017-2032
Financing Growth
Infrastructure Investment
Policy Imperatives for Getting Back to the High Growth Path
Public Savings and Fiscal Policy
Household Savings and Management of Inflation
Private Corporate Sector and Manufacturing
Foreign Savings and Capital Account Management
Transport Infrastructure
Conclusions

11. The Intriguing Picture of Investment
C. Rangarajan
Behaviour of Savings
Behaviour of Investment
Intriguing Numbers

12. India on the Growth Turnpike: No State Left Behind
Arvind Panagariya
Growth: No State Left Behind
Poverty: Progress Everywhere
Smaller and Newer States and Union Territories
Conclusions
Part III
Distributional Issues: Poverty, Inequality, Malnutrition and Unemployment
13. Assessment of the Growth Experience: Poverty, Inequality and Unemployment
Editorial Notes
Poverty and Unemployment
Poverty Estimates
Poverty and Inclusive Growth
Inequality
Inequality After Economic Reforms
Employment
Employment, Unemployment and Labour Force Dynamics
Underemployment: A Continuing Characteristic of Employment
Characteristics and Structure of the Indian Labour Market
Trends and Patterns of Employment Growth
Gender Differentials in Employment Growth
Summing Up: Key Features of the Employment Situation
Labour Market Reforms Would Help Boost Employment Creation
Public Employment Programme for the Unorganised Workers: The Case of NREGA
Success Stories
Employment Challenges
Policy Agenda

14. Report of the Expert Group to Review the
Methodology for Measurement of Poverty:Executive Summary
Rangarajan Committee Report
Executive Summary
15. Counting the Poor: Measurement and Other Issues
C. Rangarajan and S. Mahendra Dev
Clarifications on Issues
What is New?
Use of Calories
Multidimensional Poverty
Higher Urban Poverty
NAS-NSS Consumption Differences
Poverty Measures in Other Countries
Public Expenditure and Poverty
Poverty Ratio for Eligibility under Programmes

16. Inequities in Access to Health Services in India: Caste, Class and Region
Rama Baru, Arnab Acharya, Sanghmitra Acharya, A.K. Shiva Kumar and K. Nagaraj
Determinants of Health Inequities
Features of Health Service Provisioning
Inequities in Access to Health Services
Factors Affecting Equity in Access to Health Services 421
Barriers for Marginalised Populations
Equity Enhancing Initiatives
The Way Forward

17. Labour and Employment in Fast Growing India: Issues of Employment and Inclusiveness
T.S. Papola and Alakh N. Sharma
Introduction
Some Characteristics of the Indian Labour Market
Trend and Pattern of Employment Growth
Impact of Global Financial 2008 Crisis on Indian Labour Market and Employment
Quality of Employment and Disparities
Increasing Labour Flexibility and Erosion of Labour Rights
Conclusion and Policy Agenda

Part IV
Agriculture
18. Indian Agriculture: Developments, Issues, Policies and Agenda for Reforms
Editorial Notes
Introduction
Linkages between Agriculture and Other Sectors
The Institutional Context
The New Technology
Three Phases of Green Revolution
Reform Period, 1991 to the Present
Deceleration in Agriculture Growth
Long-term Performance, and what could be Holding Back Indian Agriculture
Major Factors Affecting the Growth Potential
National Policy for Farmers, 2007
Reforming the Three `I's: Investments, Incentives, and Institutions
Agricultural Price Policy
Increased Role of Price Policy
Agricultural Policy Review, 2018
Key Policy Recommendations
Summing up
19. Twenty-Five Years of Policy Tinkering in Agriculture
Ashok Gulati and Shweta Saini
Backdrop
Impact of the 1991 Exchange-Rate Adjustments and Lowering Industrial Tariffs on Agriculture
Direct Reforms in Agriculture and their Impact
Comparison with China
Reforming Indian Agriculture: Way Forward

20. The Context and Conundrums of Contemporary Agriculture
World Bank Group
India's Food Security Puzzle
Persistent Food Price Rise
Trade Policy and Cereal Prices
Foodgrain Management and Food Prices
Rising Real Rural Wages
Persistent Questions about the Sustainability of Growth

21. Agrarian Performance and Food Price Inflation in India: Pre- and Post-Economic Liberalisation
Sthanur R. Nair and Leena Mary Eapen
Introduction
Performance of Indian Agriculture
Trends in Food Prices
Understanding the Food Price Trends
Summary and Policy Conclusions
Part V
Industry, Services and Infrastructure
22. Industrial Development and Policies since Independence
Editorial Notes
Extent and Pattern of Industrialisation during the British Rule
The Industrial Scene at Independence
Industrial Control Regime
The Policy Regime in the 1990s
New Economic Policy
Opening up to Foreign Investment
Public Sector Reforms and Privatisation
Industrial Policy Objectives for the Twelfth Plan and Beyond
Trends and Pattern of Industrial Growth
Policy Regimes and Pattern of Growth
Recent Industrial Growth, 2008-09 to 2013-14
Industrial-sector Performance Based on Revised GDP Estimates 2012-13 to 2015-16
Industrial Growth 2015-16 to 2017-18
Why has Growth Moderated?
Challenges Arising from Government Policies
Micro, Small and Medium Enterprises
Status and Key Challenges
Public Sector
Privatisation
Foreign Direct Investment

23. Economic Reforms and Manufacturing Sector Growth: Need for Reconfiguring the Industrialisation Model
R. Nagaraj
Industrial Trends
Performance during the Boom and Bust
Competing Explanations for the Trends
Need for Reconfiguring Development State
Conclusions

24. Economic Growth without Employment: The Story of Indian Manufacturing
Jayan Jose Thomas
Introduction
Indian Planning and Capital-Intensive Industrialization
Growth During the 1980s
Industrial Growth After 1990s
Constraints to Indian Manufacturing
Conclusions

25. The Employment Problem in India and the Phenomenon of the Missing Middle
Dipak Mazumdar and Sandip Sarkar
Trends in the Industrial Structure of Employment
Employment Growth in the Tertiary Sector in India in a Comparative Context
Dualism in Indian Manufacturing
Why is Dualism a Problem for Manufacturing Growth?
Causes of the Emergence and Persistence of Dualism
Conclusion

26. On Strategies for Disinvestment and Privatisation
Vijay Kelkar
Public versus Private Ownership
Privatisation
27. Of Omissions and Commissions: India's Competition Laws
Aditya Bhattacharjea
Introduction
The MRTP Act, 1969-2009
The Competition Act, 2002
Post Script (2016)

28. Clothes and Shoes: Can India Reclaim Low Skill Manufacturing?
Ministry of Finance
Introduction 731
Why Clothes and Shoes? 732
Challenges
Policy Response and Conclusions

29. Services in India's Growth Process
Editorial Notes
Introduction
Growth and Sectoral Shares, Cross-Country Evidence and Indian Experience
World Services Trade
Factors Underlying the Services Growth
India's Services Employment
India's Services Trade
Foreign Direct Investment in India's Service Sector
Liberalisation of Services in India
India and Trade Negotiations in Services
Conclusion

30. Infrastructure and Economic Development
Editorial Notes
Introduction
Strategies for Infrastructure Development
Differences in Infrastructure Building Between India and China
Specific Bottlenecks in Executing Infrastructure Development
Rural Infrastructure
Committee on Infrastructure
Foreign Direct Investment into Major Infrastructure
Infrastructure Development In India: A Macro Perspective
Challenges and Outlook

31. Indian Financial Sector: Structure,Trends and Turns
Rakesh Mohan and Partha Ray
Introduction 787
Indian Financial Sector: 1950-1990-From Laissez Faire to Government Control
Banking in India since the 1990s: Towards Modern Competitive Banking
Emerging Issues
The Insurance Sector Since the 1990s: Opening up the Doors
Capital Market: Uneven Progress in Different Segments
Bond/Debt Market
Equity Market
External Account and India's Financial Opening
Non-Banking Finance Companies (NBFCs): Checkered Trend
Concluding Observations

Part VI
The External Sector
32. India's External Sector: Policies, Developments and Issues
Editorial Notes
Trade Policy
Structural Changes in India's Foreign Trade during 1980s and 1990s 840
India's Merchandise Trade: 2001 to 2016-17
The Critical Role of Exports
Imports
Composition of Trade
Direction of Trade
Trade Deficit
Trade Policy
FTP: Mid Term Review and Subsequent Trade Related Policies
Multilateral Negotiations
Balance of Payments
Managing Capital Flows
External Debt
Currency Composition of External Debt
International Comparison
Foreign Exchange Reserves:Approach, Developments and Issues
Foreign Exchange Rate Policy
Exchange Rate
Concluding Remarks

33. Some Issues in External Sector Management
C. Rangarajan
Break with the Past
Balance of Payments
Export Performance
Import Behaviour
Factors In?uencing Exports
Exchange Rate Policy
Level of Current Account De?cit
Foreign Exchange Reserves
Policy on Capital Flows
Conclusions

34. India's New Foreign Trade Policy: Pluses and Minuses
Biswajit Dhar
`Whole-of-Government' Approach
Three Issues Highlighted
SEZ Failure
Regional Trade Agreements

35. Make in India: Which Exports can Drive the Next Wave of Growth?
Rahul Anand, Kalpana Kochhar and Saurabh Mishra
Introduction and Motivation
The Evolution of India's Export Basket
The Evolution of Service Exports
The Transformation of India's Exports
Implications of the Evolution of Indian Exports
The Way Forward

36. Foreign Direct and Portfolio Investments
Flows and Development:A Perspective on Indian Experience
Nagesh Kumar
The Context
Evolution of Policy Regime Towards FDI and FPIs in India
Foreign Direct Investment Flows and Their Quality
FPI Inflows and Their Impact
India as an Emerging Source of FDI Outflows
Concluding Remarks and Policy Lessons

37. India and the WTO
Editorial Notes
World Trade Organization
India and the WTO
India's Participation in WTO Meetings
WTO Negotiations and India

38. Indian Economy Today: An Overview and Comparative Perspective
Uma Kapila
India's Increasing Importance to Global Growth
The Search for Prosperity
Radical Reform: Rationale and Setting
Outlook for Growth
Comparative Perspective
India's Decline in South Asia
India among the BRIC
Challenges and Prospects

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