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 ix
They include politicians, officials of the Government of India and the Reserve Bank of India, academics, journalists, businessmen, and members of the IMF and World Bank resident missions. But we wish particularly to thank Sudhir Mulji ...
They include politicians, officials of the Government of India and the Reserve Bank of India, academics, journalists, businessmen, and members of the IMF and World Bank resident missions. But we wish particularly to thank Sudhir Mulji ...
Page xi
... insurance, and freight consumer price index central public sector enterprise cash reserve ratio central sales tax Development Finance Institution Department of Telecommunications Employment Assurance Scheme Export Promotion Capital ...
... insurance, and freight consumer price index central public sector enterprise cash reserve ratio central sales tax Development Finance Institution Department of Telecommunications Employment Assurance Scheme Export Promotion Capital ...
Page xii
... General Licence OIL Oil India Limited OM operating expenses and maintenance ONGC Oil and Natural Gas Corporation PDS public distribution system PSE public sector enterprise RBI Reserve Bank of India RD rural development RRB Regional ...
... General Licence OIL Oil India Limited OM operating expenses and maintenance ONGC Oil and Natural Gas Corporation PDS public distribution system PSE public sector enterprise RBI Reserve Bank of India RD rural development RRB Regional ...
Page 1
Reserves were down to two weeks of imports, despite an IMF loan of $1.8 billion in January 1991, and despite damaging import cuts. Her credibility was very low, and commercial borrowing impossible. Inflation was running at an annual ...
Reserves were down to two weeks of imports, despite an IMF loan of $1.8 billion in January 1991, and despite damaging import cuts. Her credibility was very low, and commercial borrowing impossible. Inflation was running at an annual ...
Page 3
India now has adequate reserves and is credit-worthy, while production is expanding at a satisfactory rate. But inflation is too high, and the fiscal deficit is still too large to be sustainable in the long run.
India now has adequate reserves and is credit-worthy, while production is expanding at a satisfactory rate. But inflation is too high, and the fiscal deficit is still too large to be sustainable in the long run.
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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