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 3
... increase the role of the price mechanism, raise efficiency, reduce bureaucratic control, and increase the role of private initiative. But large areas remain where almost nothing has been done. While reform of public revenues is under ...
... increase the role of the price mechanism, raise efficiency, reduce bureaucratic control, and increase the role of private initiative. But large areas remain where almost nothing has been done. While reform of public revenues is under ...
Page 11
... increase in poverty in 1992, but we believe that this damage has been repaired. The structural reforms we advocate will benefit the poor by eliminating the bias against employment which has long been a feature of India's trade and ...
... increase in poverty in 1992, but we believe that this damage has been repaired. The structural reforms we advocate will benefit the poor by eliminating the bias against employment which has long been a feature of India's trade and ...
Page 14
... increased following the Iraqi invasion of Kuwait in August 1990, but only for a few months. This mini-shock would normally have been weathered without undue difficulty, but it impinged on an economy which was in a highly vulnerable ...
... increased following the Iraqi invasion of Kuwait in August 1990, but only for a few months. This mini-shock would normally have been weathered without undue difficulty, but it impinged on an economy which was in a highly vulnerable ...
Page 15
... increases occurred in the deficits of the consolidated government and of the public sector as a whole. This marked deterioration in the public finances was responsible both for the persistence of the current account deficit and the ...
... increases occurred in the deficits of the consolidated government and of the public sector as a whole. This marked deterioration in the public finances was responsible both for the persistence of the current account deficit and the ...
Page 16
... increased further to about 14 per cent, averaged over the year. The balance of payments improved dramatically but ... increase in the money multiplier. Table 2.1.India: Macroeconomic Indicators Broad money 1990/91 1991/92 1992/93 1993 ...
... increased further to about 14 per cent, averaged over the year. The balance of payments improved dramatically but ... increase in the money multiplier. Table 2.1.India: Macroeconomic Indicators Broad money 1990/91 1991/92 1992/93 1993 ...
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 |
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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