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
... measures taken, which are described in Chapter 2, were inevitable. India was running a current account deficit of ... measures, was essential to prevent default by securing the co-operation of official donors and lenders. Many countries ...
... measures taken, which are described in Chapter 2, were inevitable. India was running a current account deficit of ... measures, was essential to prevent default by securing the co-operation of official donors and lenders. Many countries ...
Page 2
Vijay Joshi, I. M. D Little. Many countries have been forced to take similar measures when the borrowing that they relied on dried up. But the almost simultaneous announcement (by a new minority government) of a long-run programme of ...
Vijay Joshi, I. M. D Little. Many countries have been forced to take similar measures when the borrowing that they relied on dried up. But the almost simultaneous announcement (by a new minority government) of a long-run programme of ...
Page 9
... measures. But in the short run, until the domestic banking and monetary systems are in good working order and inspire confidence, and the large international portfolio disequilibria that are a hangover from a highly controlled past have ...
... measures. But in the short run, until the domestic banking and monetary systems are in good working order and inspire confidence, and the large international portfolio disequilibria that are a hangover from a highly controlled past have ...
Page 10
... 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 urgently needed for private investment ...
... 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 urgently needed for private investment ...
Page 11
... measures should be distinguished from the long-run structural reforms that were also initiated in 1991. Stabilization led to some increase in poverty in 1992, but we believe that this damage has been repaired. The structural reforms we ...
... measures should be distinguished from the long-run structural reforms that were also initiated in 1991. Stabilization led to some increase in poverty in 1992, but we believe that this damage has been repaired. The structural reforms we ...
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