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Economic Policy Reforms and the Indian Economy

India is the second most populous country in the world and also one of the poorest. From the late 1940s to 1980, India’s per capita income grew at an average annual rate of only two percent. Expansionist economic reforms during the 1980s boosted economic growth but also unfortunately resulted in high inflation and a balance of payments crisis. As a consequence, in 1991 the government announced sweeping new changes in economic policies.

Economic Policy Reforms and the Indian Economy evaluates the effects of those changes and identifies areas of the Indian economy still in urgent need of reform. After an overview of Indian economic policies and development since independence, papers focus on the country’s fiscal situation, the environment for private economic activity, education, the reservation of certain activities for small-scale industry, and determinants of differentials in rates of growth across the different Indian states. Contributors include respected academic specialists on India and policy reform, high-level Indian administrators, and present and past policymakers.

377 pages | 15 line drawings, 77 tables | © 2002

Economics and Business: Economics--Development, Growth, Planning

Table of Contents

Foreword: George P. Shultz
List of Abbreviations
Chronology of Important Events
Introduction: Anne O. Krueger
Part One: Current State of the Economy
1. The Indian Global Economy in Global Context
Anne O. Krueger and Sajjid Chinoy
2. Indias Fiscal Situation: Is a Crisis Ahead?
T. N. Srinivasan
Comments: Shankar Acharya, Kenneth Kletzer, N. K. Singh
3. State-level Performance under Economic Reforms in India
Montek S. Ahluwalia
Comment: Shankar Acharya
Part Two: Private Economic Activity
4. Doing Business in India: What has Liberalization Changed?
Naushad Forbes
5. Bangalore: The Silicon Valley of Asia?
Annalee Saxenian
Round Table on Business in India
Narayana Murthy
Ashok Desai
Part Three: Government Activity
6. Small-scale Industry Policy in India: A Critical Evaluation
Rakesh Moran
Comment: Roger Noll
7. Emerging Challenges for Education Policy
Anjini Kochar
8. Does Economic Growth Increase the Demand for Schools?
Andrew D. Foster and Mark R. Rosenzweig
9. Priorities for Further Reforms
Anne O. Krueger
Name Index
Subject Index

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