{"product_id":"indian-economy-since-independence-34th-edition-2023-24-copy-1","title":"Indian Economy","description":"\u003ch2\u003eAbout the Book\u003c\/h2\u003e\n\u003cdiv\u003e\n\u003cdiv\u003e\n\u003cdiv\u003e\n\u003cmeta charset=\"utf-8\"\u003e\n\u003cdiv\u003e\n\u003cp\u003eHERE’s the new, 16th Edition of the widely accepted textbook\u003cbr\u003e(Indian economy paper) for B.Com (Hons.) based on new guidelines (restructured course), incorporating the latest readings recommened by the Department of Economics, University of Delhi.\u003cbr\u003eThe book provides a comprehensive coverage of Indian economy under five sections:\u003cbr\u003eI.Basic Issues in economic development: institutional framework and policy regimes;\u003cbr\u003eII.Growth and distributional issues: poverty, inequality and employment;\u003cbr\u003eIII.Current perspectives in Indian agriculture: growth, productivity, constraints and pricing;\u003cbr\u003eIV.Industry and services sector;\u003cbr\u003eV.Financial sector and the external sector.\u003cbr\u003eThe author Dr. Uma Kapila has specially designed this book based on the original readings recommended for the new course, some of these being available in her edited books: Indian Economy Since Indepen-dence, 26th Ed. 2015-16 and Two Decades of Economic Reforms, 2012.\u003cbr\u003eIn the present volume, the author has made an effort to keep the language simple without compromising the effectiveness of the argument or diluting the analyses. The book also carries a compre-hensive Glossary. Apart from undergraduate students, the book is widely used by students preparing for the IAS and other competitive examinations.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003ch2 class=\"d_normalheder\"\u003e\n\u003cspan\u003e\u003c\/span\u003e\u003cbr\u003e\n\u003c\/h2\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003ch2 class=\"d_normalheder\"\u003e\u003cspan\u003eAbout the Author(s) \/ Editor(s)\u003c\/span\u003e\u003c\/h2\u003e\n\u003cdiv\u003e\n\u003cp\u003e\u003cstrong\u003eDr. Uma Kapila\u003c\/strong\u003e, author\/editor of several books on Indian economy, retired as Reader, Department of Economics, Miranda House, University of Delhi. She has taught Indian economy to undergraduate students for more than 42 years. Currently, she is Senior Editor, Academic Foundation.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"glossymenu\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\u003cdiv class=\"glossymenu\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\u003cdiv class=\"glossymenu\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\u003ch2 class=\"glossymenu\"\u003eContents in Detail\u003c\/h2\u003e\n\u003cdiv class=\"glossymenu\"\u003e\n\u003ca class=\"menuitem submenuheader\" href=\"http:\/\/academicfoundation.org\/#\"\u003e\u003cspan class=\"accordsuffix\"\u003e\u003c\/span\u003e\u003c\/a\u003e\n\u003cdiv class=\"submenu\"\u003e\n\u003cp\u003e\u003cem\u003eContents\u003c\/em\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cem\u003ePreface\u003c\/em\u003e\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eSection - I Economic Development in \u003cbr\u003e              Post-Independence India\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003eBasic Issues in Economic Development:\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003e1.Economic Development and\u003cbr\u003e   Under Development\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e   –Introduction\u003cbr\u003e   –What Does Development Mean\u003cbr\u003e   –Economic Growth and Economic \u003cbr\u003e     Development\u003cbr\u003e   –The New View of Economic Development\u003cbr\u003e      •Development as a Multi-dimensional \u003cbr\u003e        Process\u003cbr\u003e      •Three Core Values of Development\u003cbr\u003e   –Development, Freedom and Opportunities\u003cbr\u003e   –The Three Objectives of Development\u003cbr\u003e   –The Millennium Development Goals\u003cbr\u003e   –Developed and Underdeveloped Countries\u003cbr\u003e   –Defining the Developing World\u003cbr\u003e   –Characteristics of the Developing World:\u003cbr\u003e     Diversity within Commonality\u003cbr\u003e      •Lower Levels of Living and Productivity\u003cbr\u003e      •Lower Levels of Human Capital    \u003cbr\u003e      •High Rate of Population Growth and \u003cbr\u003e        Dependency Burden\u003cbr\u003e      •Higher Levels of Inequality and Absolute\u003cbr\u003e        Poverty\u003cbr\u003e      •Greater Social Fractionalisation\u003cbr\u003e      •Larger Rural Populations but Rapid \u003cbr\u003e        Rural-to-Urban Migration\u003cbr\u003e      •Substantial Dependence on Agricultural \u003cbr\u003e        Production and Lower Levels of \u003cbr\u003e        Industrialisation\u003cbr\u003e        and Manufactured Exports\u003cbr\u003e      •Underdeveloped Financial and Other \u003cbr\u003e        Markets\u003cbr\u003e      •Lingering Colonial Impacts\u003cbr\u003e      •External Dependence    \u003cbr\u003e   –Nature of Indian Economy\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003e2.Human Development\u003c\/strong\u003e\u003cbr\u003e   –Human Development\u003cbr\u003e      •Human Development Index\u003cbr\u003e   –Are there Limits to Human Development? \u003cbr\u003e      •Sustainability, Equity and Human \u003cbr\u003e        Development\u003cbr\u003e   –What Makes Development Unsustainable?\u003cbr\u003e   –The Current State of Human Development \u003cbr\u003e   –Human Development: International \u003cbr\u003e     Comparison \u003cbr\u003e   –State of Human Development in India\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e3.India’s Economy at Independence.\u003c\/strong\u003e\u003cbr\u003e   –Introduction\u003cbr\u003e   –The Relative Importance of Various \u003cbr\u003e     Industrial Activities\u003cbr\u003e      •Composition of National Income\u003cbr\u003e      •The Working Force\u003cbr\u003e   –The Agrarian Scene\u003cbr\u003e      •Stagnating Agriculture\u003cbr\u003e           –Causes\u003cbr\u003e               ¡ Regressive Agrarian Structure\u003cbr\u003e               ¡ Internal Drain of Capital\u003cbr\u003e               ¡ Poor Technology\u003cbr\u003e   –India’s Industrial Production and its \u003cbr\u003e     Structure\u003cbr\u003e      •India’s Industrial Resources\u003cbr\u003e      •The Decline of Traditional Industry and\u003cbr\u003e        the Development of Modern Industry\u003cbr\u003e   –Some Positive Features\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003eGrowth, Institutional Framework and Policy Regime:\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e4.Economic Planning: Evolution and Strategy.\u003c\/strong\u003e\u003cbr\u003e   –Evolution of Planning \u003cbr\u003e   –Role of the State as Visualised in the Fifties\u003cbr\u003e   –Early Experience with Five Year Plans \u003cbr\u003e     Changing Perceptions\u003cbr\u003e   –Role of Planning in a Market Economy\u003cbr\u003e   –Redefining the Role of State\u003cbr\u003e   –Relevance of Planning Commission\u003cbr\u003e   –NITI Aayog: Role and Functions\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e5.Economic Reforms and Liberalisation.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e   –Debate on Liberalisation\u003cbr\u003e   –The Background \u003cbr\u003e   –The Macroeconomic Crisis\u003cbr\u003e   –Rationale for the Reforms\u003cbr\u003e   –Macroeconomic Reforms\u003cbr\u003e      •Structural Reforms\u003cbr\u003e           –Industrial Policy Reforms\u003cbr\u003e           –Trade Policy Reforms\u003cbr\u003e    ¡ Tariffs\u003cbr\u003e                ¡ Removal of Quantitative \u003cbr\u003e                  Restrictions\u003cbr\u003e    ¡ Indian Customs Single Window \u003cbr\u003e                  Project: 2014-15\u003cbr\u003e    ¡ Exchange Rate Reforms\u003cbr\u003e           –Financial Sector Reforms\u003cbr\u003e    ¡ Capital Markets\u003cbr\u003e      •Fiscal Adjustment and Stabilisation\u003cbr\u003e   –Economic Progress Post-1991\u003cbr\u003e   –Impact of Economic Reforms on the \u003cbr\u003e     Vulnerable Sections\u003cbr\u003e   –Conclusion\u003cbr\u003e      •The Next Round of Reforms\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e6.Demographic Constraint: Population Change \u003cbr\u003e   and Economic Development.\u003c\/strong\u003e\u003cbr\u003e   –Economic Development and Population \u003cbr\u003e     Growth\u003cbr\u003e      •The Theory of Demographic Transition\u003cbr\u003e      •The Microeconomic Theory of Fertility\u003cbr\u003e   –How does Population Growth Affect \u003cbr\u003e     Economic Development?\u003cbr\u003e   –India’s Demographic Transition\u003cbr\u003e      •Causes of High Birth Rate\u003cbr\u003e    –Social Factors \u003cbr\u003e    – Economic Factors\u003cbr\u003e          ¡ Poverty\u003cbr\u003e          ¡ Lack of Social Security\u003cbr\u003e          ¡ Illiteracy, Ignorance and \u003cbr\u003e                        Belief in Fate\u003cbr\u003e          ¡ Ineffective Family Planning\u003cbr\u003e      •Fertility Rate\u003cbr\u003e      •Causes of Decline in Death Rate\u003cbr\u003e            –Control of Epidemics\u003cbr\u003e            –Control of Famines\u003cbr\u003e            –Improved Medical Facilities\u003cbr\u003e            –Spread of Maternity Homes\u003cbr\u003e            –Impact of Economic Development\u003cbr\u003e   –Measures to Reduce Birth Rate\u003cbr\u003e   –Concerns about Population Growth\u003cbr\u003e   –Gender Equity and the Demographic \u003cbr\u003e     Transition\u003cbr\u003e   –Population Policy since 1947\u003cbr\u003e   –National Population Policy, 2000\u003cbr\u003e      •Objectives\u003cbr\u003e   –The Experience of Kerala and Tamil Nadu\u003cbr\u003e      •Enabling Factors\u003cbr\u003e   –India's Demographic Dividend\u003cbr\u003e      •'Window of Opportunity' for India\u003cbr\u003e      •Estimated Demographic Bonus \u003cbr\u003e        for India\u003cbr\u003e      •India's Response to 'Window of \u003cbr\u003e        Opportunity'\u003cbr\u003e   –The Future\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e7.Land Reforms.\u003c\/strong\u003e\u003cbr\u003e   –Objectives of Land Reforms\u003cbr\u003e   –Effects of Land Reforms on \u003cbr\u003e     Productivity and Poverty \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e8.Growth and Structural Changes since 1951.\u003c\/strong\u003e\u003cbr\u003e   –Periodisation of Indian Growth Experience\u003cbr\u003e   –India's Growth Turnaround\u003cbr\u003e      •2003-2008: The Best Phase in Growth\u003cbr\u003e      •Recent Deceleration since 2011\u003cbr\u003e      •Recent Growth Record\u003cbr\u003e           –Aggregate Demand\u003cbr\u003e           –Factor Shares in GVA\u003cbr\u003e   –Priorities for Reviving Growth\u003cbr\u003e   –Reform Agenda\u003cbr\u003e   –Risk Factors and Constraints\u003cbr\u003e   –Performance on Inclusiveness\u003cbr\u003e      •Multidimensionality of Inclusion\u003cbr\u003e   –The Need for Faster Growth\u003cbr\u003e   –Human Development\u003cbr\u003e   –International Comparisons\u003cbr\u003e   –Growth and Structural Change\u003cbr\u003e   –Sectoral Growth Trends\u003cbr\u003e      •Growth and Sectoral Shares,\u003cbr\u003e        Cross-country Evidence and Indian \u003cbr\u003e        Experience\u003cbr\u003e    –Inter-Regional Disparities in \u003cbr\u003e                  Growth and Development\u003cbr\u003e    –The Way Ahead\u003cbr\u003e    –Growth Prospect: An Assessment\u003cbr\u003e    –Sustainable Development and \u003cbr\u003e                  Climate Change\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eSection- II Growth and Distribution\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e9.Poverty in India.\u003c\/strong\u003e\u003cbr\u003e   –Magnitude and Determinants\u003cbr\u003e      •The Selection of Poverty Lines\u003cbr\u003e   –Multidimensional Poverty Index\u003cbr\u003e   –Reduction in Poverty\u003cbr\u003e   –Comparison of India and China in \u003cbr\u003e     Terms of Poverty Reduction\u003cbr\u003e      •Causes of Poverty\u003cbr\u003e      •Growth and Poverty Reduction\u003cbr\u003e      •Growth and Inequality\u003cbr\u003e      •Growth, Employment and Poverty\u003cbr\u003e      •Growth Pattern and Poverty\u003cbr\u003e   –Poverty and Inclusive Growth\u003cbr\u003e   –Non-income Poverty Dimensions\u003cbr\u003e   –Poverty Alleviation Programmes\u003cbr\u003e      •Programme for Socially \u003cbr\u003e        Disadvantaged \u003cbr\u003e      •Land Reforms \u003cbr\u003e      •Public Distribution System \u003cbr\u003e      •Public Investment in Human \u003cbr\u003e        Capital and Public Goods\u003cbr\u003e      •A Stronger Welfare System and \u003cbr\u003e        Improved Social Service Provision \u003cbr\u003e        are Needed\u003cbr\u003e   –Concluding Remarks\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e10.Unemployment and Employment\u003cbr\u003e     Perspective.\u003c\/strong\u003e\u003cbr\u003e   –Concepts and Measurement\u003cbr\u003e   –Characteristics and Structure of \u003cbr\u003e     the Indian Labour Market\u003cbr\u003e   –Trend and Pattern of Employment \u003cbr\u003e     Growth\u003cbr\u003e      •Growth in Employment, GDP and \u003cbr\u003e        Employment Elasticity\u003cbr\u003e      •Patterns of Employment Growth at \u003cbr\u003e        a Disaggregated Level \u003cbr\u003e            –Primary Sector\u003cbr\u003e            –Secondary Sector\u003cbr\u003e            –Services Sector\u003cbr\u003e            –Overall Sectoral Pattern\u003cbr\u003e      •Gender Differentials in Employment \u003cbr\u003e        Growth\u003cbr\u003e      •Long Term Perspectives\u003cbr\u003e   –Labour Market Reforms would Help \u003cbr\u003e    Boost Employment Creation\u003cbr\u003e   –Public Employment Programme for the \u003cbr\u003e     Unorganised Workers: The Case of NREGA\u003cbr\u003e      •An Overview of the Scheme\u003cbr\u003e      •The Performance\u003cbr\u003e      •Success Stories\u003cbr\u003e      •Remaining Gaps\u003cbr\u003e   –Policy Agenda\u003cbr\u003e   –Skill Development: The Challenge\u003cbr\u003e   –Employment Perspective\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e11.Economic Inequality in India.\u003c\/strong\u003e\u003cbr\u003e    –Inequality\u003cbr\u003e    –Inequality after Economic Reforms\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eSection- III Current Perspectives in \u003cbr\u003e                  Agriculture\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e12.Agriculture: Role and Growth \u003c\/strong\u003e\u003cbr\u003e     Performance.\u003cbr\u003e    –Importance of Agriculture in National \u003cbr\u003e      Economy \u003cbr\u003e       •Linkage between Agriculture and \u003cbr\u003e         Other Sectors\u003cbr\u003e    –Agricultural Growth\u003cbr\u003e       •Role of Institutional and Technological \u003cbr\u003e         Factors in Agriculture Growth\u003cbr\u003e        •The New Technology\u003cbr\u003e             –Characteristics of New \u003cbr\u003e               Technology\u003cbr\u003e                   ¡ Better Agricultural Practices\u003cbr\u003e            –Economic Aspects of New \u003cbr\u003e              Technology\u003cbr\u003e    –Green Revolution\u003cbr\u003e       •Three Phases of  Green Revolution\u003cbr\u003e    – The First Phase, 1966-1972\u003cbr\u003e    – Debacle and the Second Phase, \u003cbr\u003e       1973-1980\u003cbr\u003e    – The Third Phase, 1981-1990\u003cbr\u003e    –Reform Period, 1991 to the Present\u003cbr\u003e      •Deceleration in Agriculture Growth\u003cbr\u003e        during 1995-96 to 2004-05\u003cbr\u003e      •Performance of the Agriculture Sector \u003cbr\u003e        during the Eleventh Five Year Plan\u003cbr\u003e        (2007-2012) and Thereafter\u003cbr\u003e   –Instability in Ouput\u003cbr\u003e   –Regional Disparities and Intra-Personal \u003cbr\u003e     Disparities\u003cbr\u003e   –New Technology and Environmental \u003cbr\u003e     Degradation\u003cbr\u003e   –Long-term Performance, and What \u003cbr\u003e    could be Holding Back Indian Agriculture\u003cbr\u003e   –Major Factors Affecting the Growth\u003cbr\u003e     Potential\u003cbr\u003e      •Lack of Long Term Policy \u003cbr\u003e        Perspective\u003cbr\u003e      •Investment in Agriculture and\u003cbr\u003e        Subsidies \u003cbr\u003e      •Lagging Research and Development \u003cbr\u003e        Efforts\u003cbr\u003e      •Technology Generation and Dissemination\u003cbr\u003e      •Rising Soil Degradation and Over-\u003cbr\u003e         exploitation of Groundwater\u003cbr\u003e      •Degradation of Natural Resources\u003cbr\u003e      •Subsidies vis-à-vis Investments and \u003cbr\u003e        Farm Support Systems\u003cbr\u003e      •Agriculture’s Terms of Trade and \u003cbr\u003e        Farm Price Volatility\u003cbr\u003e   –Rural Distress in Post-Reform India\u003cbr\u003e   –National Policy for Farmers, 2007\u003cbr\u003e   –Emerging Imbalances\u003cbr\u003e      •Subsidies versus Public Investment\u003cbr\u003e      •Cereals Production and Build \u003cbr\u003e        up of Stocks\u003cbr\u003e   –High Value Commodities: The Future\u003cbr\u003e    Sources of Growth in Agriculture\u003cbr\u003e   –Secondary Agriculture: A Driver for \u003cbr\u003e     Growth of Primary Agriculture\u003cbr\u003e   –Reforming the Three 'I's: Investments,\u003cbr\u003e     Incentives, and Institutions\u003cbr\u003e      •Investments\u003cbr\u003e      •Reforming Incentives\u003cbr\u003e         –Price and Marketing Policy\u003cbr\u003e      •Reforming Institutions\u003cbr\u003e         –Marketing and Warehouse Facilities\u003cbr\u003e         –Reforming Land and Credit Markets\u003cbr\u003e         –For a High-yield Agri-trade\u003cbr\u003e         –Challenges and Outlook\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e13.Agricultural Price Policy, Food \u003cbr\u003e     Management and Food Security.\u003c\/strong\u003e\u003cbr\u003e    –Agricultural Price Policy\u003cbr\u003e    –Food Management\u003cbr\u003e       •Food Procurement Policy\u003cbr\u003e       •Price and Distribution Controls in\u003cbr\u003e         the Food Grain Market\u003cbr\u003e       •Public Distribution System (PDS) \u003cbr\u003e       •Food Subsidy\u003cbr\u003e       •Buffer Stock\u003cbr\u003e    –Food Security\u003cbr\u003e    –Conclusion\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003eSection- IV Current Perspectives in Industry\u003cbr\u003e                  and Services\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e14.Industrial Policy.    \u003c\/strong\u003e\u003cbr\u003e    –The Industrial Scene at Independence\u003cbr\u003e    –Industrial Control Regime 1950s\u003cbr\u003e      to 1970s\u003cbr\u003e    –Performance of the Industrial\u003cbr\u003e      Licensing System\u003cbr\u003e    –Industrial Policy Reforms 1980s\u003cbr\u003e    –The Policy Regime in the 1990s\u003cbr\u003e    –New Economic Policy (1991)\u003cbr\u003e       •Opening up to Foreign Investment\u003cbr\u003e       •Public Sector Reforms and Privatisation\u003cbr\u003e    –Industrial Policy: Recent Policy\u003cbr\u003e      Initiatives\u003cbr\u003e    –Industrial Policy Objectives for the \u003cbr\u003e      Twelfth Plan and Beyond\u003cbr\u003e       •The Architecture of a Strategy to \u003cbr\u003e         Accelerate Growth of Manufacturing    \u003cbr\u003e       •Three Components of India’s \u003cbr\u003e        Manufacturing Strategy and Plan\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e15.Industrial Growth and Structure\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003e     since 1951.\u003c\/strong\u003e\u003cbr\u003e     –Industrial Growth\u003cbr\u003e     –Policy Regimes and Pattern \u003cbr\u003e       of Growth\u003cbr\u003e     –Comparative Growth Rates in the \u003cbr\u003e       1980s and the 1990s\u003cbr\u003e     –Relative Contribution of Sectors \u003cbr\u003e       to Total Production\u003cbr\u003e     –The Manufacturing Slowdown \u003cbr\u003e       (1996-2002)\u003cbr\u003e          •Factors Causing the Slowdown: \u003cbr\u003e            Some Hypotheses\u003cbr\u003e                –Cyclical Factors in Industrial\u003cbr\u003e                  Slowdown\u003cbr\u003e    –Structural Factors\u003cbr\u003e         ¡ Infrastructure Constraints\u003cbr\u003e                       in the Industrial Sector\u003cbr\u003e     –Recovery in Industrial Growth \u003cbr\u003e       since 2002-03\u003cbr\u003e     –Recent Industrial Growth (2008-09 \u003cbr\u003e       to 2013-14)\u003cbr\u003e     –Industrial-sector Performance based \u003cbr\u003e       on Revised GDP Estimates\u003cbr\u003e     –Comparative Position of India and\u003cbr\u003e       World Manufacturing\u003cbr\u003e     –Why has Growth Moderated?\u003cbr\u003e     –Investment in the Industrial Sector\u003cbr\u003e          •Gross Capital Formation in\u003cbr\u003e            Industrial Sector\u003cbr\u003e     –Challenges Arising from Government \u003cbr\u003e       Policies: Difficult Business Environment\u003cbr\u003e          •Labour Deployment Rigidities\u003cbr\u003e          •Infrastructure Bottlenecks\u003cbr\u003e          •Regulatory Delays and Lack of \u003cbr\u003e            Transparency\u003cbr\u003e          •High Cost and Non-availability\u003cbr\u003e            of Commercial Bank Credit\u003cbr\u003e     –Why did Manufacturing Sector's \u003cbr\u003e       Share in Total Employment Stagnate\u003cbr\u003e     –Other Aspects of Industrial Change\u003cbr\u003e     –Why did the Reforms Fail to \u003cbr\u003e       Deliver the Expected Results?\u003cbr\u003e     –India's Unique Pattern of Development\u003cbr\u003e     –What Should be Done Now?\u003cbr\u003e          •Balanced Growth\u003cbr\u003e          •Integrating into Global Networks\u003cbr\u003e          •Improving Physical Infrastructure \u003cbr\u003e     –The Architecture of a Strategy to Accelerate\u003cbr\u003e       Growth of Manufacturing\u003cbr\u003e     –Conclusions\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e16.Micro, Small and Medium\u003cbr\u003e     Enterprises (MSEs).\u003c\/strong\u003e\u003cbr\u003e     –Role of SMEs in Global Economy: \u003cbr\u003e       International Scenario\u003cbr\u003e     –Defining MSEs: MSMED Act, 2006\u003cbr\u003e     –Role of MSEs in Indian Economy \u003cbr\u003e          •To Generate Large-Scale \u003cbr\u003e            Employment\u003cbr\u003e          •To Sustain Economic Growth\u003cbr\u003e            and Increase Exports\u003cbr\u003e          •Making Growth Inclusive\u003cbr\u003e     –Globalisation and Small Industry\u003cbr\u003e       Performance\u003cbr\u003e     –SSI Performance in the Globalisation Era\u003cbr\u003e          •Performance of the SSI Sector: Pre-\u003cbr\u003e            liberalisation Period versus Liberalisation\u003cbr\u003e            Period\u003cbr\u003e          •Performance of the Registered SSI in \u003cbr\u003e            the Liberalisation Period: 1987\/88-2006\/07\u003cbr\u003e     –Inferences and Conclusions (In the Context\u003cbr\u003e       of Recent Policy Initiatives)\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e17.Public Sector in the Indian Economy.\u003c\/strong\u003e\u003cbr\u003e     –The Rationale\u003cbr\u003e     –Performance of Central Public \u003cbr\u003e      Sector Enterprises\u003cbr\u003e          •Output and Capital Formation\u003cbr\u003e          •Fall in Public Sector Employment\u003cbr\u003e            Growth\u003cbr\u003e          •Central PSEs’ Profitability\u003cbr\u003e     –Reasons and Implications\u003cbr\u003e     –Public Sector and 1991 Industrial \u003cbr\u003e       Policy\u003cbr\u003e     –Policies toward CPSEs and their \u003cbr\u003e       Implementation\u003cbr\u003e     –Privatisation \u003cbr\u003e          •Privatisation: Indian Experience\u003cbr\u003e            since 1991\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e18.Services in the Indian Growth Process.    \u003c\/strong\u003e\u003cbr\u003e     –Importance of the Services Sector \u003cbr\u003e       for India\u003cbr\u003e          Services GDP and Gross \u003cbr\u003e            Capital Formation\u003cbr\u003e          Services Employment in India\u003cbr\u003e     –Growth and Sectoral Shares, \u003cbr\u003e       Cross Country Evidence and \u003cbr\u003e        Indian Experience\u003cbr\u003e          Services GDP: International\u003cbr\u003e            Comparison\u003cbr\u003e     –India’s Services Sector\u003cbr\u003e     –Important Services for India\u003cbr\u003e     –Factors Underlying the Services\u003cbr\u003e       Growth\u003cbr\u003e     –India’s Services Trade\u003cbr\u003e          India’s Services Exports\u003cbr\u003e          India’s Services Imports\u003cbr\u003e          India’s Balance of Trade \u003cbr\u003e            in Services\u003cbr\u003e          FDI in India's Service Sector\u003cbr\u003e     –Liberalisation of Services in India\u003cbr\u003e          India Moving towards a Services-\u003cbr\u003e            led Export Growth\u003cbr\u003e          India and Trade Negotiations \u003cbr\u003e            in Services\u003cbr\u003e          –Challenges and Outlook\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e19.Foreign Direct Investment.    \u003c\/strong\u003e\u003cbr\u003e     –Introduction \u003cbr\u003e     –Role of FDI\u003cbr\u003e     –FDI Policy: A Historical Perspective\u003cbr\u003e     –FDI Policy Changes Announced in \u003cbr\u003e       the Budget 2014-15\u003cbr\u003e     –Trends in FDI Inflows\u003cbr\u003e          Investment Climate and Prospects \u003cbr\u003e            for FDI Inflows\u003cbr\u003e     –Quality of FDI Inflows\u003cbr\u003e          Sectoral Composition\u003cbr\u003e          Changes in the Sources of FDI\u003cbr\u003e          Changes in Sectoral Composition\u003cbr\u003e     –FDI Inflows and their Impact\u003cbr\u003e     –India as an Emerging Source of \u003cbr\u003e       FDI Outflows\u003cbr\u003e          Impact of FDI on Growth and \u003cbr\u003e            Domestic Investment\u003cbr\u003e          FDI and Export-Platform Production\u003cbr\u003e     –Concluding Remarks and Policy Lessons\u003cbr\u003e          Policy Lessons\u003cbr\u003e          FDI Outlook\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eSection- V Financial Sector and External \u003cbr\u003e                 Sector Financial Sector:\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003e20.The Financial Sector: Structure, \u003c\/strong\u003e\u003cbr\u003e   \u003cstrong\u003e\u003cspan\u003e \u003c\/span\u003e Performance and Reforms.\u003c\/strong\u003e\u003cbr\u003e     –Growing Importance of Finance\u003cbr\u003e       in India\u003cbr\u003e     –Financial Sector Development\u003cbr\u003e       in India\u003cbr\u003e          Institutional Structure\u003cbr\u003e          Capital Markets \u003cbr\u003e          Money Markets\u003cbr\u003e          1991 and After: The Reform \u003cbr\u003e             Years\u003cbr\u003e          Role of Competition \u003cbr\u003e          Capital Adequacy and Government\u003cbr\u003e             Ownership in the Banking Sector \u003cbr\u003e     –Conclusion\u003cbr\u003e     –The Road Ahead\u003cbr\u003e          Indian Financial Code (IFC)\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eExternal Sector:\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e21.Foreign Trade and Trade Policy.\u003cbr\u003e     –Constraints Arising from Foreign \u003cbr\u003e       Trade and Import Substitution-based \u003cbr\u003e       Policies\u003cbr\u003e     –Exports and Imports: Broad Trends \u003cbr\u003e          •Exports \u003cbr\u003e          •Export Performance of India \u003cbr\u003e            and the EDEs\u003cbr\u003e          •Export Composition and Sectoral \u003cbr\u003e            Performance\u003cbr\u003e               –Direction of Exports \u003cbr\u003e               –Export Diversification \u003cbr\u003e          •Imports \u003cbr\u003e          •India’s Import Growth \u003cbr\u003e               –Composition of Imports \u003cbr\u003e     –Trade Deficit\u003cbr\u003e     –Direction of Trade\u003cbr\u003e     –World Trade\u003cbr\u003e          •India’s Merchandise Trade \u003cbr\u003e            2001-02 to 2013-14\u003cbr\u003e          •Services Trade\u003cbr\u003e     –Special Economic Zones (SEZs)\u003cbr\u003e     –Appendix: Balance of Trade\u003cbr\u003e     –Trade Policy: An Overview\u003cbr\u003e          •Import Substitution based Strategy\u003cbr\u003e          •Towards Efficient Import Substitution\u003cbr\u003e          •Trade Policy since 1991\u003cbr\u003e     –Outward Orientation Focusing on\u003cbr\u003e       Export Promotion\u003cbr\u003e          •Recent Trade Policy Measures\u003cbr\u003e     –Bilateral and Regional Trade Agreements\u003cbr\u003e     –Challenges and Outlook\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e22.Balance of Payments.\u003c\/strong\u003e\u003cbr\u003e     –Concepts\u003cbr\u003e     –India’s Balance of Payment \u003cbr\u003e       Trends: 1950-51 to 2013-14\u003cbr\u003e          •First and Second Oil Shocks \u003cbr\u003e            of 1973 and 1980\u003cbr\u003e          •External Payment Crisis \u003cbr\u003e            of 1991\u003cbr\u003e     –The Crisis: 1990-1992\u003cbr\u003e          •India’s BoP during 2011-12 \u003cbr\u003e            to 2013-14\u003cbr\u003e          •Current Account Developments \u003cbr\u003e            in 2012-13 and 2013-14\u003cbr\u003e          •Financing Aspect of Current Account\u003cbr\u003e     –Sustainability of Current Account\u003cbr\u003e     –Capital Account\u003cbr\u003e     –Managing Capital Flows\u003cbr\u003e     –External Debt\u003cbr\u003e     –International Comparison \u003cbr\u003e     – Foreign Exchange Reserves\u003cbr\u003e          •Approach \u003cbr\u003e          •Developments\u003cbr\u003e          •Issues\u003cbr\u003e               –Foreign Exchange Rate Policy\u003cbr\u003e                    ¡ Nominal Effective Exchange \u003cbr\u003e                      Rate (NEER) and Real Effective\u003cbr\u003e                      Exchange Rate (REER)\u003cbr\u003e     –Exchange Rate Management\u003cbr\u003e     –Concluding Remarks\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e23.India and the WTO .\u003c\/strong\u003e\u003cbr\u003e     –World Trade Organization 13-18, 2005) \u003cbr\u003e     –India and the WTO\u003cbr\u003e     –India's Participation in WTO Meetings,\u003cbr\u003e      2005) \u003cbr\u003e     –WTO Negotiations and India 2005) \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e   \u003cspan\u003e \u003c\/span\u003e\u003cem\u003e Glossary.\u003c\/em\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cem\u003e     Select Bibliography.\u003c\/em\u003e\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e\n\u003cdiv class=\"glossymenu\"\u003e\n\u003cdiv class=\"submenu\"\u003e\n\u003cdiv\u003e\n\u003cstrong\u003e\u003c\/strong\u003e\u003cbr\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"glossymenu\"\u003e\n\u003cdiv class=\"submenu\"\u003e\n\u003cdiv\u003e\n\u003cstrong\u003e\u003c\/strong\u003e\u003cbr\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003ctable style=\"width: 100%; height: 78.3752px;\" width=\"100%\"\u003e\n\u003ctbody\u003e\n\u003ctr style=\"height: 19.5938px;\"\u003e\n\u003ctd style=\"width: 51.6006%; height: 19.5938px;\"\u003ePublisher\u003c\/td\u003e\n\u003ctd style=\"width: 47.9553%; height: 19.5938px;\"\u003eAF Press\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr style=\"height: 19.5938px;\"\u003e\n\u003ctd style=\"width: 51.6006%; height: 19.5938px;\"\u003ePublication Date\u003c\/td\u003e\n\u003ctd style=\"width: 47.9553%; height: 19.5938px;\"\u003e\n\u003cmeta charset=\"utf-8\"\u003e \u003cspan\u003e2015\u003c\/span\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr style=\"height: 19.5938px;\"\u003e\n\u003ctd style=\"width: 51.6006%; height: 19.5938px;\"\u003eNumber of Pages\u003c\/td\u003e\n\u003ctd style=\"width: 47.9553%; height: 19.5938px;\"\u003e533\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr style=\"height: 19.5938px;\"\u003e\n\u003ctd style=\"width: 51.6006%; height: 19.5938px;\"\u003eISBN\u003c\/td\u003e\n\u003ctd style=\"width: 47.9553%; height: 19.5938px;\"\u003e\n\u003cmeta charset=\"utf-8\"\u003e \u003cmeta charset=\"utf-8\"\u003e \u003cspan\u003e9789332703162\u003c\/span\u003e\u003cbr\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e","brand":"Uma Kapila","offers":[{"title":"Paperback \/ ENG- English \/ Economics","offer_id":51355647672641,"sku":null,"price":745.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0938\/9067\/5009\/files\/Indianeconomy16th_front.png?v=1770015054","url":"https:\/\/www.academicfoundation.com\/products\/indian-economy-since-independence-34th-edition-2023-24-copy-1","provider":"Academic Foundation | AF Press","version":"1.0","type":"link"}