Indian Economy Since Independence | Buch | 978-93-327-0473-2 | sack.de

Buch, Englisch, 1026 Seiten, Paperback, Format (B × H): 152 mm x 229 mm

Indian Economy Since Independence


A Comprehensive and Critical Analysis of India’s Economy, 1947-2018

Buch, Englisch, 1026 Seiten, Paperback, Format (B × H): 152 mm x 229 mm

ISBN: 978-93-327-0473-2
Verlag: Academic Foundation

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.
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- 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

Uma Kapila, author/editor of several other books, has taught Indian Economy to undergraduate students for over forty-two years. She retired as Reader from the Department of Economics, Miranda House, University of Delhi. Presently, she is Editorial Director, Academic Foundation. An Honours Graduate from Miranda House, University of Delhi and M.A. and Ph.D. from Delhi School of Economics, Dr. Uma Kapila has also served on the Planning Commission Study Group on “Agricultural Strategies in the Eastern Region of India for the Seventh Five Year Plan” (Perspective Planning Division). Dr. Uma Kapila is the author of the book Oilseeds Economy of India (1982) published by the Institute of Economic Growth, Delhi. She is also the author/editor of two other textbooks on Indian economy, one meant for B.A. (Hons.) Economics, and the other for B.A.(Programme) and B.Com (Hons.) and Honours other than Economics. She has edited, and co-edited with Raj Kapila, a number of books on India’s economy, banking and finance.

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