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. |
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Page 1
India was running a current account deficit of around $10 billion. ... Immediate drastic action, including a large devaluation and deflationary fiscal measures, was essential to prevent default by securing the co-operation of official ...
India was running a current account deficit of around $10 billion. ... Immediate drastic action, including a large devaluation and deflationary fiscal measures, was essential to prevent default by securing the co-operation of official ...
Page 3
But inflation is too high, and the fiscal deficit is still too large to be sustainable in the long run. On the structural adjustment front, the derestriction of domestic production and investment has gone a long way.
But inflation is too high, and the fiscal deficit is still too large to be sustainable in the long run. On the structural adjustment front, the derestriction of domestic production and investment has gone a long way.
Page 15
The fiscal deficit of the central government which had averaged about 4.5 per cent of GDP in the second half of the 1970s ... Similar increases occurred in the deficits of the consolidated government and of the public sector as a whole.
The fiscal deficit of the central government which had averaged about 4.5 per cent of GDP in the second half of the 1970s ... Similar increases occurred in the deficits of the consolidated government and of the public sector as a whole.
Page 16
Its immediate objectives were thus to reduce inflation, improve the balance of payments position, and reduce the fiscal deficit. It was also an objective to minimize the adverse impact of stabilization on real income and output, ...
Its immediate objectives were thus to reduce inflation, improve the balance of payments position, and reduce the fiscal deficit. It was also an objective to minimize the adverse impact of stabilization on real income and output, ...
Page 19
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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 |