Indian Economy Since Independence

A Comprehensive and Critical Analysis of India’s Economy, 1947-2017

Uma Kapila (Ed.)

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Praise for this book

Praise for the silver jubilee edition:
“Uma Kapila’s 25th edition of this well-known volume contains an excellent and up-to-date collection of essays on the Indian Economy by some of the country’s leading economists, interspersed with very useful contributions by the editor herself. It will be a great boon for all students of the Indian economy…young and old.”
— Shankar Acharya
    Chief Economic Adviser to the Government of India (1993-2001)
 
 
Sharing a piece of its history...
Year 1988: Upon publication of the first edition of this book, which was originally designed for students of the University of Delhi, Prof. VKRV Rao, the legendary economist, policymaker and institution builder, thus wrote   in a letter addressed to the editor Uma Kapila:
“...It will be a most unusual kind of textbook for pioneering which you deserve congratulations. I, therefore, send you   my good wishes for the success of the publication and its use by students who do Economics Honours not only in the University of Delhi but also other universities.”   
—V.K.R.V. Rao 
 
 
“The annual edition of Dr. Uma Kapila’s Indian Economy since Independence has become a staple, annually updated, reference for University students throughout the country, for aspirants for the civil service and other examinations, and  for all those interested in a single comprehensive source of information, and analysis by a galaxy of scholars, on the Indian economy. This twenty-fifth anniversary edition marks a milestone in a remarkable journey, begun in 1988 by a revered teacher of long standing from Delhi University.” 
—  Indira Rajaraman
      Member, 13th Finance Commission and 
      Member, India Advisory Board of the World Gold Council


About the Author(s) / Editor(s)

Uma Kapila, author/editor of several other books, has taught Indian Economy to undergraduate students for over forty-two years. She retired as Reader from the Department of Economics, Miranda House, University of Delhi. Presently, she is Editorial Director, Academic Foundation.

An Honours Graduate from Miranda House, University of Delhi and M.A. and Ph.D. from Delhi School of Economics, Dr. Uma Kapila has also served on the Planning Commission Study Group on “Agricultural Strategies in the Eastern Region of India for the Seventh Five Year Plan” (Perspective Planning Division).

Dr. Uma Kapila is the author of the book Oilseeds Economy of India (1982) published by the Institute of Economic Growth, Delhi. She is also the author/editor of two other textbooks on Indian economy, one meant for B.A. (Hons.) Economics, and the other for B.A.(Programme) and B.Com (Hons.) and Honours other than Economics. She has edited, and co-edited with Raj Kapila, a number of books on India’s economy, banking and finance. Detailed information on these publications is  readily available at the publisher’s website: www.academicfoundation.com / 
www.academicfoundation.org

 


Contributors

Arnab Acharya
Sanghmitra Acharya
Pulapre Balakrishnan
Rama Baru
Aditya Bhattacharjea
David E. Bloom
S. Mahendra Dev
Biswajit Dhar
Ashok Gulati
Uma Kapila
Vijay Kelkar
K.L. Krishna
Nagesh Kumar
A.K. Shiva Kumar
Dipak Mazumdar
Prachi Mishra
Rakesh Mohan
K. Nagaraj
R. Nagaraj
Arvind Panagariya
T.S. Papola
C. Rangarajan
N. Chandrasekhara Rao
Tirthankar Roy
Shweta Saini
Sandip Sarkar
Alakh N. Sharma
M.H. Bala Subrahmanya
Jayan Jose Thomas

 


Contents in Detail

Preface

Acknowledgements

Contributors

 

 

Part I

Planning, Institutional Framework,
Constraints and  Role of the State

1.  Indian Economy at Independence

     Uma Kapila

 

2.  The Economic Legacies of Colonial Rule
      in India: Another Look                                                               

     Tirthankar Roy

 

3.  Planning, Market and the State (Ed. Notes)            

 

4.  Economic Reforms: Looking Back and Ahead                     

     C. Rangarajan

 

5.  Fiscal and Budgetary Developments:
     Prospects and Reforms (Ed. Notes)                                      

6.  Demography and Development (Ed. Notes)                                                                   

 

7.  Population Dynamics in India and
     Implications for Economic Growth                                      

     David E. Bloom

 

Part II

Growth and Structural Change since 1950

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

              

 

9.  The Recovery of India: Economic Growth
      in the Nehru Era                                                                      

      Pulapre Balakrishnan

         

10.  Pressing the Indian Growth Accelerator:
       Policy Imperative                                                        

       Rakesh Mohan and Muneesh Kapur

         

11.  Growth and Investment: The Interlinks                               

       C. Rangarajan

 

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

       Arvind Panagariya

 

Part III

Distributional Issues:
Poverty, Inequality, Malnutrition and Unemployment

13.  Assessment of the Growth Experience:
      Poverty, Inequality and Unemployment (Ed. Notes)                

 

14.  Report of the Expert Group to Review the
       Methodology for Measurement of Poverty:
       Executive Summary                                                                 

      Rangarajan Committee Report

 

15.  Counting the Poor: Measurement and
       Other Issues                                                                             

       C. Rangarajan and S. Mahendra Dev

 

16.  Inequities in Access to Health Services in India:
       Caste, Class and Region                                                          

       Rama Baru, Arnab Acharya, Sanghmitra Acharya,
       A.K. Shiva Kumar and K. Nagaraj

 

17.  Labour and Employment in Fast Growing India:
       Issues of Employment and Inclusiveness                            

      T.S. Papola and Alakh N. Sharma

              

18.  India’s Labour Market During the 2000s
       Surveying the Changes

      Jayan Jose Thomas

 

Part IV

Agriculture

19.  Indian Agriculture: Developments, Issues,
       Policies and Agenda for Reforms (Ed. Notes)         

 

20.  The Context and Conundrums of
       Contemporary Agriculture                                                     

      World Bank Group

 

21.  Agricultural Price Policy, Farm Profitability
       and Food Security                                                                    

      S. Mahendra Dev and N. Chandrasekhara Rao

       

22.  Food Inflation in India: Diagnosis and Remedies              

      Ashok Gulati and Shweta Saini

 

Part V

Industry, Services and Infrastructure

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

 

24.  Industrial Performance, 1991-2008: A Review                   

       R. Nagaraj

 

25.  Industrial Development and Policies Since
       Independence: Growth without Employment         

       K.L. Krishna

 

26.  On Strategies for Disinvestment and Privatisation                                                                             

       Vijay Kelkar

 

27.  Of Omissions and Commissions:
       India’s Competition Laws                                                      

      Aditya Bhattacharjea

 

28.  Small-scale Industrialisation under Globalisation:
       Is the Tide Turning Around?                                                  

      M.H. Bala Subrahmanya

         

29.  The Employment Problem in India and the
       Phenomenon of the Missing Middle                                    

      Dipak Mazumdar and Sandip Sarkar

 

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

 

31.  Infrastructure and Economic Development
       (Ed. Notes)                                                                               

 

Part VI

The External Sector

32.  India’s External Sector:  Policies, Developments
       and Issues (Ed. Notes)                                                            

 

33.  India’s New Foreign Trade Policy:
       Pluses and Minuses                                                                 

      Biswajit Dhar

 

34.  India’s External Sector: Do We Need to Worry?                 

      C. Rangarajan and Prachi Mishra

 

35.  Foreign Direct and Portfolio Investments
       Flows and Development:
       A Perspective on Indian Experience                                     

      Nagesh Kumar

 

36.  India and the WTO (Ed. Notes)                                             

       

37.  Indian Economy Today: An Overview and
       Comparative Perspective                                                       

      Uma Kapila

 



Publisher AF Press
Publication Date 2017
Number of Pages 972
ISBN 9789332704329
READ MORE

Academic Foundation (AF), based in New Delhi, is India’s leading independent publisher of academic/scholarly books in Social Sciences, specialising in Economics—Development Economics and Indian Economy in particular, and allied subjects.

Praise for this book

Praise for the silver jubilee edition:
“Uma Kapila’s 25th edition of this well-known volume contains an excellent and up-to-date collection of essays on the Indian Economy by some of the country’s leading economists, interspersed with very useful contributions by the editor herself. It will be a great boon for all students of the Indian economy…young and old.”
— Shankar Acharya
    Chief Economic Adviser to the Government of India (1993-2001)
 
 
Sharing a piece of its history...
Year 1988: Upon publication of the first edition of this book, which was originally designed for students of the University of Delhi, Prof. VKRV Rao, the legendary economist, policymaker and institution builder, thus wrote   in a letter addressed to the editor Uma Kapila:
“...It will be a most unusual kind of textbook for pioneering which you deserve congratulations. I, therefore, send you   my good wishes for the success of the publication and its use by students who do Economics Honours not only in the University of Delhi but also other universities.”   
—V.K.R.V. Rao 
 
 
“The annual edition of Dr. Uma Kapila’s Indian Economy since Independence has become a staple, annually updated, reference for University students throughout the country, for aspirants for the civil service and other examinations, and  for all those interested in a single comprehensive source of information, and analysis by a galaxy of scholars, on the Indian economy. This twenty-fifth anniversary edition marks a milestone in a remarkable journey, begun in 1988 by a revered teacher of long standing from Delhi University.” 
—  Indira Rajaraman
      Member, 13th Finance Commission and 
      Member, India Advisory Board of the World Gold Council


About the Author(s) / Editor(s)

Uma Kapila, author/editor of several other books, has taught Indian Economy to undergraduate students for over forty-two years. She retired as Reader from the Department of Economics, Miranda House, University of Delhi. Presently, she is Editorial Director, Academic Foundation.

An Honours Graduate from Miranda House, University of Delhi and M.A. and Ph.D. from Delhi School of Economics, Dr. Uma Kapila has also served on the Planning Commission Study Group on “Agricultural Strategies in the Eastern Region of India for the Seventh Five Year Plan” (Perspective Planning Division).

Dr. Uma Kapila is the author of the book Oilseeds Economy of India (1982) published by the Institute of Economic Growth, Delhi. She is also the author/editor of two other textbooks on Indian economy, one meant for B.A. (Hons.) Economics, and the other for B.A.(Programme) and B.Com (Hons.) and Honours other than Economics. She has edited, and co-edited with Raj Kapila, a number of books on India’s economy, banking and finance. Detailed information on these publications is  readily available at the publisher’s website: www.academicfoundation.com / 
www.academicfoundation.org

 


Contributors

Arnab Acharya
Sanghmitra Acharya
Pulapre Balakrishnan
Rama Baru
Aditya Bhattacharjea
David E. Bloom
S. Mahendra Dev
Biswajit Dhar
Ashok Gulati
Uma Kapila
Vijay Kelkar
K.L. Krishna
Nagesh Kumar
A.K. Shiva Kumar
Dipak Mazumdar
Prachi Mishra
Rakesh Mohan
K. Nagaraj
R. Nagaraj
Arvind Panagariya
T.S. Papola
C. Rangarajan
N. Chandrasekhara Rao
Tirthankar Roy
Shweta Saini
Sandip Sarkar
Alakh N. Sharma
M.H. Bala Subrahmanya
Jayan Jose Thomas

 


Contents in Detail

Preface

Acknowledgements

Contributors

 

 

Part I

Planning, Institutional Framework,
Constraints and  Role of the State

1.  Indian Economy at Independence

     Uma Kapila

 

2.  The Economic Legacies of Colonial Rule
      in India: Another Look                                                               

     Tirthankar Roy

 

3.  Planning, Market and the State (Ed. Notes)            

 

4.  Economic Reforms: Looking Back and Ahead                     

     C. Rangarajan

 

5.  Fiscal and Budgetary Developments:
     Prospects and Reforms (Ed. Notes)                                      

6.  Demography and Development (Ed. Notes)                                                                   

 

7.  Population Dynamics in India and
     Implications for Economic Growth                                      

     David E. Bloom

 

Part II

Growth and Structural Change since 1950

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

              

 

9.  The Recovery of India: Economic Growth
      in the Nehru Era                                                                      

      Pulapre Balakrishnan

         

10.  Pressing the Indian Growth Accelerator:
       Policy Imperative                                                        

       Rakesh Mohan and Muneesh Kapur

         

11.  Growth and Investment: The Interlinks                               

       C. Rangarajan

 

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

       Arvind Panagariya

 

Part III

Distributional Issues:
Poverty, Inequality, Malnutrition and Unemployment

13.  Assessment of the Growth Experience:
      Poverty, Inequality and Unemployment (Ed. Notes)                

 

14.  Report of the Expert Group to Review the
       Methodology for Measurement of Poverty:
       Executive Summary                                                                 

      Rangarajan Committee Report

 

15.  Counting the Poor: Measurement and
       Other Issues                                                                             

       C. Rangarajan and S. Mahendra Dev

 

16.  Inequities in Access to Health Services in India:
       Caste, Class and Region                                                          

       Rama Baru, Arnab Acharya, Sanghmitra Acharya,
       A.K. Shiva Kumar and K. Nagaraj

 

17.  Labour and Employment in Fast Growing India:
       Issues of Employment and Inclusiveness                            

      T.S. Papola and Alakh N. Sharma

              

18.  India’s Labour Market During the 2000s
       Surveying the Changes

      Jayan Jose Thomas

 

Part IV

Agriculture

19.  Indian Agriculture: Developments, Issues,
       Policies and Agenda for Reforms (Ed. Notes)         

 

20.  The Context and Conundrums of
       Contemporary Agriculture                                                     

      World Bank Group

 

21.  Agricultural Price Policy, Farm Profitability
       and Food Security                                                                    

      S. Mahendra Dev and N. Chandrasekhara Rao

       

22.  Food Inflation in India: Diagnosis and Remedies              

      Ashok Gulati and Shweta Saini

 

Part V

Industry, Services and Infrastructure

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

 

24.  Industrial Performance, 1991-2008: A Review                   

       R. Nagaraj

 

25.  Industrial Development and Policies Since
       Independence: Growth without Employment         

       K.L. Krishna

 

26.  On Strategies for Disinvestment and Privatisation                                                                             

       Vijay Kelkar

 

27.  Of Omissions and Commissions:
       India’s Competition Laws                                                      

      Aditya Bhattacharjea

 

28.  Small-scale Industrialisation under Globalisation:
       Is the Tide Turning Around?                                                  

      M.H. Bala Subrahmanya

         

29.  The Employment Problem in India and the
       Phenomenon of the Missing Middle                                    

      Dipak Mazumdar and Sandip Sarkar

 

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

 

31.  Infrastructure and Economic Development
       (Ed. Notes)                                                                               

 

Part VI

The External Sector

32.  India’s External Sector:  Policies, Developments
       and Issues (Ed. Notes)                                                            

 

33.  India’s New Foreign Trade Policy:
       Pluses and Minuses                                                                 

      Biswajit Dhar

 

34.  India’s External Sector: Do We Need to Worry?                 

      C. Rangarajan and Prachi Mishra

 

35.  Foreign Direct and Portfolio Investments
       Flows and Development:
       A Perspective on Indian Experience                                     

      Nagesh Kumar

 

36.  India and the WTO (Ed. Notes)                                             

       

37.  Indian Economy Today: An Overview and
       Comparative Perspective                                                       

      Uma Kapila

 



Publisher AF Press
Publication Date 2017
Number of Pages 972
ISBN 9789332704329
Expected delivery date:
15 May Usually ready in 2-3 days.

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Indian Economy Since Independence

Indian Economy Since Independence

₹ 1,095.00
₹ 1,095.00