India's Economic Reforms, 1991-2001India is the world's largest democracy, and second-largest developing country. For forty years it has also been one of the most dirigiste and autarkic. The 1980s saw most developing and erstwhile communist countries opt for market economic systems. India belatedly initiated similar reforms in 1991. This book evaluates the progress of those reforms, covering all of the major areas of policy; stabilization, taxation and trade, domestic and external finance, agriculture, industry, the social sectors, and poverty alleviation. Will India realize its great potential by freeing itself from the self-imposed constraints that have hindered its development? This is the important and fascinating question considered by this book. |
From inside the book
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Page 1
The stabilization measures taken, which are described in Chapter 2, were inevitable. India was running a current account deficit of around $10 billion. Reserves were down to two weeks of imports, despite an IMF loan of $1.8 billion in ...
The stabilization measures taken, which are described in Chapter 2, were inevitable. India was running a current account deficit of around $10 billion. Reserves were down to two weeks of imports, despite an IMF loan of $1.8 billion in ...
Page 7
This belief is explicit in our discussion of the social services and poverty alleviation in Chapter 6. How far the state should go depends, of course, on fiscal exigencies. There are always other deserving uses of public money.
This belief is explicit in our discussion of the social services and poverty alleviation in Chapter 6. How far the state should go depends, of course, on fiscal exigencies. There are always other deserving uses of public money.
Page 10
Chapter 2 deals with the stabilization measures taken since June 1991. Medium-term stabilization has been achieved although inflation remains somewhat higher than is desirable. But public sector deficits absorb too much of the savings ...
Chapter 2 deals with the stabilization measures taken since June 1991. Medium-term stabilization has been achieved although inflation remains somewhat higher than is desirable. But public sector deficits absorb too much of the savings ...
Page 11
Chapter 5 deals with industrial policy. There has been a bonfire of controls. Apart from some charred remains, there are many other serious problems which have hardly been addressed. Much of the huge public sector makes losses.
Chapter 5 deals with industrial policy. There has been a bonfire of controls. Apart from some charred remains, there are many other serious problems which have hardly been addressed. Much of the huge public sector makes losses.
Page 12
Chapter 7 summarizes the progress and state of the reforms, and presents our conclusions. Reasons for success and failure are considered, and priorities suggested. The likelihood of a satisfactory continuation of the process of reform ...
Chapter 7 summarizes the progress and state of the reforms, and presents our conclusions. Reasons for success and failure are considered, and priorities suggested. The likelihood of a satisfactory continuation of the process of reform ...
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Contents
| 1 | |
| 13 | |
3Fiscal Policy and Trade Policy | 63 |
4Financial Sector Reform | 109 |
5Industrial Policy and Factor Markets | 171 |
6The Social Sectors Poverty and Reform | 219 |
7Summary and Afterthoughts | 247 |
Bibliography | 267 |
Index | 277 |
Other editions - View all
India's Economic Reforms, 1991-2001 Joshi Vijay,Vijay Joshi,Ian Malcolm David Little,Little I M D Limited preview - 1996 |
India's Economic Reforms, 1991-2001 Joshi Vijay,Vijay Joshi,Ian Malcolm David Little Limited preview - 1996 |
Common terms and phrases
achieved agricultural allowed assets banks borrowing budget capital cent of GDP central Centre Chapter companies competition consider corporate cost countries crores current account deficit debt deposit direct discussed domestic economic effective efficiency employment enterprises estimates excise expenditure exports favour firms fiscal fiscal deficit foreign funds further given growth higher important improvement income increase India industry inflation inflows institutions interest interest rates investment issue labour lending less liberalization limit loans losses major measures Note operation output payments political poor poverty present primary problem production profitability programme promoters protection public sector raised reasons reduced reform regulation relative remain reserves restrictions result rise rural savings schemes securities share social structure subsidies suggested tariff taxation trade wages
Bibliographic information
| Title | India's Economic Reforms, 1991-2001 |
| Authors | Vijay Joshi, I. M. D Little |
| Publisher | Clarendon Press, 1996 |
| ISBN | 0191521833, 9780191521836 |
| Length | 298 pages |
| Subjects | › › Business & Economics / Development / Economic Development Political Science / Public Policy / Economic Policy |
| Export Citation | BiBTeX EndNote RefMan |