Indian Economy Since Independence

24th Ed.: 2013-14

Uma Kapila (Ed.)

About the Book

 

Contributors

Conntents in Detail

   

  Preface    

Acknowledgements

The Contributors

   

Part - I 

Planning, Institutional Framework, Constraints and Role of the State

   

1. Indian Economy at Independence

  Uma Kapila

  •    The Colonial Regime 

•    The India of 1947 

•    The Agrarian Scene 

•    India’s Industrial Production and its Structure

•    The State of Indian Industry

•    The Planning Era

   

2. Planning and the Market (Ed. Notes)

  •    Structural Constraints and the Development Strategy

•    Role of the State as Visualised in the Fifties 

•    Evolution of Strategy and Priorities 

•    Changing Perceptions 

•    Role of Planning in a Market Economy 

•    Redefining the Role of State 

•    The Government, the State and the Market     

•    Cooperative Action

   

3. Twelfth Five Year Plan: Faster, More Inclusive and Sustainable Growth

  Manmohan Singh

   

4. Prospects and Policy Challenges in the Twelfth Plan

  Montek S. Ahluwalia

  •     Review of Recent Performance

•     Growth Prospects for the Twelfth Plan

•     Some Critical Policy Challenges

   

5. Fiscal and Budgetary Developments: Prospects and Reforms

  •     Fiscal Consolidation    

•     Measuring the Fiscal Deficit in India

•     Spending and Deficits in the Medium Term:

      Can Expenditure be made more effective? 

•     A New Framework for Fiscal Policy 

•     Expenditure Trends 

•     Consolidated General Government 

   

6. Demographic Constraints: Population

  Change and Economic Development (Ed. Notes)

  •     Economic Development and Population Growth 

•     Population Trends

•     Gender Equity and the Demographic Transition

•     Population Policy since 1947

•     National Population Policy 2000

•     Human Resource Development

•     Public Expenditure and Education Policy

•     Health Care as a Social Responsibility

•     Disparities and Divides

•     Tamil Nadu: The Success Story

•     The Future    

   

7. India’s Demographic Transition and Its Consequences for Development

  Tim Dyson

  •     India’s Demographic Transition

•     Urbanisation

•     The Future    

•     Discussion

   

8. Glorifying Malthus: Current Debate on 

  ‘Demographic Dividend’ in India

  K.S. James

  •     The Concept of Demographic Dividend

•     The Theoretical Confusion 

•     Empirical Estimation of Demographic Dividend    

•     Statistical Analysis

   

Part - II

Agriculture

   

9. Indian Agriculture: Developments, Issues and Policies (Ed. Notes)

  •     Linkages between Agriculture and Other Sectors    

•     The Institutional Context    

•     The New Technology    

•     Three Phases of Green Revolution    

•     Reform Period, 1991 to the Present    

•     Deceleration in Agriculture Growth    

•     Performance of the Agriculture Sector during

      the Eleventh Five Year Plan (2007-2012)

•     Major Factors Affecting the Growth Potential    

•     National Policy for Farmers, 2007

•     Role and Performance of Critical Inputs    

•     Outputs, Inputs and Productivity    

•     Emerging Imbalances 

•     Cereals Production and Build up of Stocks    

•     Secondary Agriculture: A Driver for Growth of

        Primary Agriculture    

•     Reforming the Three ‘I's: Investments, Incentives

      and Institutions    

•     Food Management    

•     Food Procurement Policy    

•     Public Distribution System (PDS)     

•     Food Subsidy    

•     Food Security

•     Towards Elimination of Hunger and Malnutrition

•     The Way Forward

•     National Food Security Bill 2013

•     Agricultural Price Policy

•     Agricultural Exports

•     Rural Distress in Post-Reform India

•     Farmers’ Suicides

•     Challenges and Outlook

   

10. Reforms in Land System in Post-Independent India

  S.K. Ray

  •     Policy Objectives for Structural Reorganisation

•     The Reform Controversy

•     Impact of Structural Reorganisation

•     Emerging Perspectives and Policy Issues

   

11. Temporal and Spatial Variations in

  Agricultural Growth and Its Determinants

  Ramesh Chand, Shinoj Parappurathu

  •    Introduction

•    Historical Growth Trends in Agriculture

•    Structural Breaks in GDP-Agriculture

•    Hypothesis on Growth

•    Agriculture Performance at Disaggregate Level 

•    Livestock Sub-sector

•    Agricultural Performance at State Level

•    Pattern of Growth of Major Determinants

•    Investment in Agriculture

•    Primary Inputs

•    Terms of Trade

•    Technology    

•    Other Factors

•    Conclusions

   

12. Agricultural Growth in India Since 1991

  Pulapre Balakrishnan, Ramesh Golait, Pankaj Kumar

  •     Agriculture and the Economic Reforms 

•     Growth of Agriculture Since 1991 

•     Prices and the Recent Agricultural Growth 

•     Non-price Factors and the Recent Agricultural Growth

•     Conclusions, with Implications for Policy 

   

13. Agricultural Price Policy, Farm Profitability and Food Security

  S. Mahendra Dev, N. Chandrasekhara Rao

  •     Trends in Costs and Yields

•     Trends in MSPs and Prices Realised by Farmers

•     Relationship between Costs, Prices Realised and MSP 

•     Returns to Farming

•     Increased Role of Price Policy

•     Concluding Observations

   

14. Understanding the Nature and Causes of Food Inflation

  Ramesh Chand 

  •     Inflation: Trend and Structure    

•     Factors Affecting Food Inflation    

•     Conclusions and Implications

   

Part - III

Industry & Infrastructure

   

15. Industrial Development and Policies since Independence (Ed. Notes)

  •     Extent and Pattern of Industrialisation during the British Rule 

•     The Industrial Scene at Independence

•     Industrial Control Regime

•     The Policy Regime in the 1990s

•     New Economic Policy

•     Opening up to Foreign Investment

•     Public Sector Reforms, Privatisation and Infrastructure

•     Industrial Policy: Recent Policy Initiatives

•     Industrial Policy Eleventh Plan

•     Industrial Policy Objectives for the Twelfth Plan and Beyond    

•     Industrial Growth     

•     Phases of Industrial Growth    

•     Industrial Growth in the 90s     

•     Profile of Industrial Growth 

•     Shift in Favour of Registered Manufacturing 

•     Decline in Employment Growth in Organised Manufacturing

•     The Stagnant Share of Manufacturing Sector

•     The Manufacturing Slowdown (1996-2002)     

•     Factors Causing the Industrial Slowdown: Some Hypotheses

•     Cyclical Factors in Industrial Slowdown 

•     Infrastructure Constraints in the Industrial Sector     

•     Industrial Performance and Credit Growth 

•     Productivity Trends in the Manufacturing Sector     

•     Recovery in Industrial Growth since 2002-03    

•     The Slowdown during 2007-08 and 2008-09    

•     Recent Industrial Growth

•     Why has Growth Moderated?

•     Manufacturing Sector's Share in Total Employment?

•     Other Aspects of Industrial Change    

•     Why did the Reforms Fail to Deliver the Expected Results?

•     The Cost of Doing Business    

•     What Should be Done Now?    

•     Balanced Growth    

•     Integrating into Global Networks    

•     Improving Physical Infrastructure    

•     Conclusions    

•     Micro and Small Enterprises (MSEs)    

•     Status and Key Challenges    

•     Public Sector    

•     Privatisation     

•     Foreign Direct Investment (FDI)    

•     Labour Policy Reforms     

•     Challenges and Outlook

   

16. Industrial Development and Policies since

  Independence: Growth without Employment    

  K.L. Krishna

  •    Introduction    

•    Policy Regimes and Pattern of Growth     

•    Structural Transformation of the Economy    

•    India's Unique Pattern of Development    

•    Employment Generation in Manufacturing    

•    National Manufacturing Plan 

•    Concluding Remarks 

   

17. Small Industry and Globalisation:

  Implications, Performance and Prospects

  M.H. Bala Subrahmanya

  •     Introduction 

•     Implications of Policy Changes 

•     Globalisation and Small Industry Performance 

•     Future Prospects of Small Industry 

•     Summary and Conclusions

   

18. Public Sector Performance since 1950: A Fresh Look

  R. Nagaraj

  •     Public Sector Performance

•     Reasons and Implications

•     Conclusions

   

19. On Strategies for Disinvestment and Privatisation

  Vijay Kelkar

  •     Public versus Private Ownership    

•     Privatisation 

   

20. Services in India’s Growth Process (Ed. Notes)

  •     Growth and Sectoral Shares, Cross-Country

       Evidence and Indian Experience 

•     International Trade in Services 

•     Services GDP 

•     Important Services for India 

•     Which Services have Grown Rapidly? 

•     Factors Underlying the Services Growth

•     Challenges

   

21. Infrastructure and Economic Development (Ed. Notes)

  •     Commercialisation: A New Wave, A New Necessity

•     Strategies for Infrastructure Development

•     Differences in Infrastructure Building between India and China

•     Infrastructure Investment in India    

•     Prioritisation of Infrastructure Sectors for

       Development: Twelfth Five Year Plan 2012-2017

•     Challenges and Outlook 

   

Part - IV

The External Sector

   

22. India’s External Sector: Policies Developments 

  and Issues  (Ed. Notes)

  •     Trade Policy    

•     Foreign Trade Performance     

•     Structural Changes in India’s Foreign Trade

       during Eighties and Nineties    

•     Trade Composition    

•     Direction of Trade      

•     World Merchandise Trade: Global Recession    

•     India's Services Trade

•     Balance of Trade in Services

•     Special Economic Zones

•     Bilateral and Regional Trade Agreements

•     Outlook and Challenges

•     Balance of Payments

•     India’s Balance of Payment Trends 1950-51 to 2011-12

•     Financing Aspect of Current Account

•     Sustainability of Current Account 

•     Capital Account

•     External Debt

•     International Comparison

•     Managing Capital Flows

•     Foreign Exchange Reserves: Approach, Developments and Issues

•     FCAs

•     Foreign Exchange Rate Policy

•     Exchange Rate Management 

•     Concluding Remarks

   

23. India's External Sector: Do We Need to Worry?

  C Rangarajan, Prachi Mishra

  •     Introduction

•     External Sector Reforms

•    External Sector Performance since 1991

•    Some Analytical Issues

•    Way Forward

   

24. Foreign Direct and Portfolio Investments

  Flows and Development: A Perspective on Indian Experience

  Nagesh Kumar

  •     The Context

•     Evolution of Policy Regime towards FDI and FPIs in India

•     Foreign Direct Investment flows and their quality

•     FPI Inflows and their Impact

•     India as an Emerging Source of FDI Outflows    

•     Concluding Remarks and Policy Lessons

   

25. India and the WTO

  •     World Trade Organization

•     India and the WTO

•     India's Participation in WTO Meetings 

•     WTO Negotiations and India

   

26. India and the Global Economy

  •     State of the Global Economy 

•     Locating India in the New Global Economy    

•     Engaging the World

   

Part - V

Growth & Structural Change Since 1950 and

Assessment of the Growth Experience 

   

27. Growth and Structural Change Since 1950 (Ed. Notes)

  •     The Performance    

•     India's Growth Turnaround

•     Investment    

•     Growth Prospects     

•     Performance on Inclusiveness    

•     The Need for Faster Growth    

•     Growth and Structural Change    

•     Growth and Sectoral Shares, Cross-Country

       Evidence and Indian Experience    

•     Inter-Regional Disparities in Growth and Development

•     The Way Ahead    

•     Growth Prospect: An Assessment    

   

28. Growth Record of the Indian Economy, 1950-2008: 

  A Story of Sustained Savings and Investment

  Rakesh Mohan

  •     A Review of the Indian Growth Process 

•     Growth Acceleration over the Decades 

•     Consistent Growth in Savings and Investment 

•     Growing Fiscal Imbalance and Correction     

•     Public Sector Savings 

•     Performance of the Private Corporate Sector     

•     Household Savings 

•     Estimation of Savings and Investment 

•     Efficiency in the Use of Resources     

•     Financial Sector Reforms 

•     Prospects for the Next Five Years 

•     Issues and Challenges 

   

29. India on the Growth Turnpike: No State Left Behind

  Arvind Panagariya

  •     Growth: No State Left Behind

•     Poverty: Progress Everywhere 

•     Smaller and Newer States and Union Territories 

•     Conclusions

   

30. Assessment of the Growth Experience: Poverty, 

  Inequality, Unemployment and Inflation (Ed. Notes)

  •     Poverty and Unemployment 

•     Poverty Estimates

•     Poverty and Inclusive Growth

•     Inequality

•     Urban Inequality after Economic Reforms

•     Employment

•     Unemployment

•     Unemployment among Young and the Educated

•     Employment Trends Among The Social Groups

•     Growth and Employment    

•     Employment and Livelihood    

•     Labour Market Reforms would help Boost Employment Creation    

•     Public Employment Programme for the Unorganised

      Workers: The Case of NREGA

•     The Performance    

•     Success Stories    

•     Work Force Projections: Total and Sectoral Employment

      Projections (Twelfth Five Year Plan)

•     Challenges for Employment Policy

•     Skill Development: The Challenge

   

31. The Employment Problem in India and

  the Phenomenon of the Missing Middle

  Dipak Mazumdar, Sandip Sarkar

  •     Trends in the Industrial Structure of Employment    

•     Employment Growth in the Tertiary Sector in

       India in a Comparative Context    

•     Dualism in Indian Manufacturing    

•     Why is Dualism a Problem for Manufacturing Growth?    

•     Causes of the Emergence and Persistence of Dualism    

•     Conclusion

   

32. Labour and Employment in Fast Growing India: 

  Issues of Employment and Inclusiveness

  T.S. Papola, Alakh N. Sharma

  •     Introduction    

•     Some Characteristics of the Indian Labour Market    

•     Trend and Pattern of Employment Growth    

•     Impact of Global Financial 2008 Crisis on

      Indian Labour Market and Employment    

•     Quality of Employment and Disparities    

•     Increasing Labour Flexibility and Erosion of Labour Rights    

•     Conclusion and Policy Agenda

   

33. Inclusive Growth: Role of Socio-Political Factors 

  Comparative Experience of India and China

  C.H. Hanumantha Rao

  •     Introduction    

•     Growth, Poverty and Inequality    

•     Socio-Political Compulsions for Course Correction    

•     Structural Bottlenecks to Inclusive Growth    

•     Conclusion

   

34. Poverty and Inequality in India: A Re-Examination

  Angus Deaton, Jean Drèze

  •     Economic Inequality in the Nineties    

•     Qualifications and Concerns    

•     Beyond Poverty Indexes

   

35. Inflation

  •     Measurement     

•     Trends in Wholesale Prices: 1950s to 1980s    

•     The Period of 1990s

•     Average Trends in WPI Inflation 2000-01 to 2011-12

•     The Anatomy of Food Inflation

•     Why has Inflation Persisted?

•     Anti-Inflationary Measures

•     Inflation Targeting

•     Issues in Price Stability

•     Inflation: Growth Trade-off

   

  Statistical Appendix

        Selected Economic and Social Indicators 1950-51 to 2011-12

 

 

Publisher	AF Press
Publication Date	2013
Number of Pages	1020
ISBN	9789332700352