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
Results 6-10 of 67
Page 8
... domestic industry as essential for general industrial promotion. It is recognized that this results in a pattern of industrialization that is biased against exports, and is inappropriate for an optimum use of the country's resources ...
... domestic industry as essential for general industrial promotion. It is recognized that this results in a pattern of industrialization that is biased against exports, and is inappropriate for an optimum use of the country's resources ...
Page 9
... domestic market. This is because in a highly protected market, if there are no controls, the buyer will either be subsidizing an inefficient producer or contributing to excess profits. This is always undesirable but particularly so if ...
... domestic market. This is because in a highly protected market, if there are no controls, the buyer will either be subsidizing an inefficient producer or contributing to excess profits. This is always undesirable but particularly so if ...
Page 10
... domestic indirect tax system is highly distorted, and direct taxes yield little. Some progress with reform has been made, but much remains to be done. Subsidies have become a major recognized misuse of public finance. There has been ...
... domestic indirect tax system is highly distorted, and direct taxes yield little. Some progress with reform has been made, but much remains to be done. Subsidies have become a major recognized misuse of public finance. There has been ...
Page 14
... domestic and foreign debt. External shocks played only a minor role in the crisis. Oil prices increased following the Iraqi invasion of Kuwait in August 1990, but only for a few months. This mini-shock would normally have been weathered ...
... domestic and foreign debt. External shocks played only a minor role in the crisis. Oil prices increased following the Iraqi invasion of Kuwait in August 1990, but only for a few months. This mini-shock would normally have been weathered ...
Page 18
... 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. Corporate saving ...
... 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. Corporate saving ...
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 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