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
While very large savings could be made, an increase in other expenditures, most especially investment in the economic infrastructure, is a very high priority. India cannot 1 See Bardhan (1984) , ch. 8, and Joshi and Little (1994) , ch.
While very large savings could be made, an increase in other expenditures, most especially investment in the economic infrastructure, is a very high priority. India cannot 1 See Bardhan (1984) , ch. 8, and Joshi and Little (1994) , ch.
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Chapter 2 deals with the stabilization 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 ...
Chapter 2 deals with the stabilization 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 ...
Page 17
... 21.2 (annual % in- crease) 14.5 Reserve mon- 13.1 13.4 11.3 25.2 22.7 ey (annual % increase) 9.8 Gross domes- 27.1 23.6 22.0 21.6 tic investment (% GDP) 25.2 Gross domes- 23.7 23.1 20.0 21.4 tic saving (% GDP) 24.4 Real GFCF (% 21.3 ...
... 21.2 (annual % in- crease) 14.5 Reserve mon- 13.1 13.4 11.3 25.2 22.7 ey (annual % increase) 9.8 Gross domes- 27.1 23.6 22.0 21.6 tic investment (% GDP) 25.2 Gross domes- 23.7 23.1 20.0 21.4 tic saving (% GDP) 24.4 Real GFCF (% 21.3 ...
Page 18
Gross domestic saving fell sharply until 1992/93 but has recovered subsequently. Since public savings have fluctuated around an extremely low level, the movement of aggregate saving largely reflects changes in private saving.
Gross domestic saving fell sharply until 1992/93 but has recovered subsequently. Since public savings have fluctuated around an extremely low level, the movement of aggregate saving largely reflects changes in private saving.
Page 21
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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 |