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 vii
... concerned with stabilization and the fiscal deficits. The book went to press before the results of the national elections of 1996 were known. This page intentionally left blank Acknowledgements The UK Overseas Development Preface.
... concerned with stabilization and the fiscal deficits. The book went to press before the results of the national elections of 1996 were known. This page intentionally left blank Acknowledgements The UK Overseas Development Preface.
Page 1
... resulting in a rise in the price of oil. The Janata Government of V. P. Singh, and the successor 'lame duck' government of Chandra Shekhar, failed to take action commensurate with the rapidly growing crisis. Immediate drastic action ...
... resulting in a rise in the price of oil. The Janata Government of V. P. Singh, and the successor 'lame duck' government of Chandra Shekhar, failed to take action commensurate with the rapidly growing crisis. Immediate drastic action ...
Page 2
... result in a radical transformation of the Indian economy. We are writing four and a half years after the initiation of this programme. Have we seen a radical transformation? The short answer is, of course, 'Yes and No'. Later in this ...
... result in a radical transformation of the Indian economy. We are writing four and a half years after the initiation of this programme. Have we seen a radical transformation? The short answer is, of course, 'Yes and No'. Later in this ...
Page 7
... results in an inefficient use of resources. It has proved impossible to give management the freedom to operate and the incentives required for efficiency, while preserving the idea of public accountability. Secondly, government itself ...
... results in an inefficient use of resources. It has proved impossible to give management the freedom to operate and the incentives required for efficiency, while preserving the idea of public accountability. Secondly, government itself ...
Page 8
... results in a pattern of industrialization that is biased against exports, and is inappropriate for an optimum use of the country's resources. But selective protection and selective promotion of particular industries has been strongly ...
... results in a pattern of industrialization that is biased against exports, and is inappropriate for an optimum use of the country's resources. But selective protection and selective promotion of particular industries has been strongly ...
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