Indian Economy Since Independence
Uma Kapila (Ed.)
Praise for this book
“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 (1988) His wishes have since come true !
“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
Former Member, 13th Finance Commission and
presently Member, Central Board of Reserve Bank of India
About the Author(s) / Editor(s)
UMA KAPILA, author/editor of several 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 Senior Editor, 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. (Mrs.) Uma Kapila is the author of the book Oilseeds Economy of India (1982) published by the Institute of Economic Growth. She is also the author of two other textbooks on Indian Economy, one meant for B.Com- (H), and the other for B.A.(Pass)/ B.Com. (Pass)/Eco. (Subsidiary). She has also co-edited along 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
new: www.academicfoundation.org
Contributors
Montek S. Ahluwalia
Aditya Bhattacharjea
Ramesh Chand
Angus Deaton
Bibek Debroy
Bipin K. Deokar
S. Mahendra Dev
Jean Drèze
Tim Dyson
Ashok Gulati
K.S. James
K. Kanagasabapathy
Uma Kapila
Vijay Kelkar
K.L. Krishna
R. Krishnaswamy
Nagesh Kumar
Dipak Mazumdar
Prachi Mishra
Rakesh Mohan
R. Nagaraj
Arvind Panagariya
Manoj Panda
T.S. Papola
C. Rangarajan
N. Chandrasekhara Rao
Shweta Saini
Sandip Sarkar
Alakh N. Sharma
S.L. Shetty
Manmohan Singh
S.K. Srivastava
M.H. Bala Subrahmanya
Vishakha G. Tilak
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. Planning, Market and the State (Ed. Notes); 3. Twelfth Five Year Plan: Faster, More Inclusive and Sustainable Growth / Manmohan Singh; 4. Fiscal and Budgetary Developments: Prospects and Reforms (Ed. Notes); 5. Demographic Constraint: Population Change and Economic Development (Ed. Notes); 6. India’s Demographic Transition and its Consequences for Development / Tim Dyson; 7. Glorifying Malthus: Current Debate on ‘Demographic Dividend’ in India/ K.S. James.
PART – II:
Agriculture
8. Indian Agriculture: Developments, Issues, Policies and Agenda for Reforms (Ed. Notes); 9. Agricultural Development in India: Performance, Issues and Policies / S. Mahendra Dev; 10. Growth in Indian Agriculture: Responding to Policy Initiatives since 2004-05 / Bipin K. Deokar, S.L. Shetty; 11. From Slowdown to Fast Track: Indian Agriculture since 1995/ Ramesh Chand; 12. Agricultural Price Policy, Farm Profitability and Food Security / S. Mahendra Dev, N. Chandrasekhara Rao; 13. The National Food Security Act: Challenges and Options / Ashok Gulati, Shweta Saini; 14. Food Inflation in India: Trends and Causal Factors / S.K. Srivastava, Ramesh Chand; 15. Food Inflation in India: Diagnosis and Remedies / Ashok Gulati, Shweta Saini.
PART – III:
Industry and Infrastructure
16. Industrial Development and Policies since Independence (Ed. Notes);
17. Industrial Performance, 1991-2008: A Review / R. Nagaraj; 18. Industrial Development and Policies since Independence: Growth without Employment / K.L. Krishna; 19. Public Sector Performance since 1950: A Fresh Look / R. Nagaraj; 20. On Strategies for Disinvestment and Privatisation / Vijay Kelkar; 21. Of Omissions and Commissions: India’s Competition Laws / Aditya Bhattacharjea; 22. India’s Labour Market: Laws, Regulations and Reforms / Bibek Debroy; 23. Small-scale Industrialisation under Globalisation: Is the Tide Turning Around? / M.H. Bala Subrahmanya; 24. The Employment Problem in India and the Phenomenon of the Missing Middle / Dipak Mazumdar, Sandip Sarkar; 25. Services in India’s Growth Process (Ed. Notes); 26. Infrastructure and Economic Development (Ed. Notes).
PART – IV:
The External Sector
27. India’s External Sector: Policies, Developments and Issues (Ed. Notes); 28. A Rethink on India’s Foreign Trade Policy / K. Kanagasabapathy, Vishakha G. Tilak, R. Krishnaswamy; 29. India’s External Sector: Do We Need to Worry? / C. Rangarajan, Prachi Mishra; 30. Foreign Direct and Portfolio Investments Flows and Development: A Perspective on Indian Experience / Nagesh Kumar; 31. India and the WTO (Ed. Notes).
PART – V:
Growth and Structural Change since 1950
and Assessment of the Growth Experience
32. Growth and Structural Change since 1950 (Ed. Notes); 33. Macroeconomic Overview: The Growth Story / Manoj Panda; 34. Growth Record of the Indian Economy, 1950-2008: A Story of Sustained Savings and Investment / Rakesh Mohan; 35. Growth and Investment: The Interlinks / C. Rangarajan; 36. Prospects and Policy Challenges in the Twelfth Plan / Montek S. Ahluwalia; 37. India on the Growth Turnpike: No State Left Behind / Arvind Panagariya; 38. Assessment of the Growth Experience: Poverty, Inequality and Unemployment (Ed. Notes); 39. Poverty and Inequality in India: A Re-Examination / Angus Deaton, Jean Drèze; 40. Labour and Employment in Fast Growing India: Issues of Employment and Inclusiveness / T.S. Papola, Alakh N. Sharma; 41. Indian Economy Today: Overview and Comparative Perspective / Uma Kapila.
| Publisher | AF Press |
| Publication Date | 2014 |
| Number of Pages | 1104 |
| ISBN |
9789332701724 |
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
“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 (1988) His wishes have since come true !
“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
Former Member, 13th Finance Commission and
presently Member, Central Board of Reserve Bank of India
About the Author(s) / Editor(s)
UMA KAPILA, author/editor of several 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 Senior Editor, 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. (Mrs.) Uma Kapila is the author of the book Oilseeds Economy of India (1982) published by the Institute of Economic Growth. She is also the author of two other textbooks on Indian Economy, one meant for B.Com- (H), and the other for B.A.(Pass)/ B.Com. (Pass)/Eco. (Subsidiary). She has also co-edited along 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
new: www.academicfoundation.org
Contributors
Montek S. Ahluwalia
Aditya Bhattacharjea
Ramesh Chand
Angus Deaton
Bibek Debroy
Bipin K. Deokar
S. Mahendra Dev
Jean Drèze
Tim Dyson
Ashok Gulati
K.S. James
K. Kanagasabapathy
Uma Kapila
Vijay Kelkar
K.L. Krishna
R. Krishnaswamy
Nagesh Kumar
Dipak Mazumdar
Prachi Mishra
Rakesh Mohan
R. Nagaraj
Arvind Panagariya
Manoj Panda
T.S. Papola
C. Rangarajan
N. Chandrasekhara Rao
Shweta Saini
Sandip Sarkar
Alakh N. Sharma
S.L. Shetty
Manmohan Singh
S.K. Srivastava
M.H. Bala Subrahmanya
Vishakha G. Tilak
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. Planning, Market and the State (Ed. Notes); 3. Twelfth Five Year Plan: Faster, More Inclusive and Sustainable Growth / Manmohan Singh; 4. Fiscal and Budgetary Developments: Prospects and Reforms (Ed. Notes); 5. Demographic Constraint: Population Change and Economic Development (Ed. Notes); 6. India’s Demographic Transition and its Consequences for Development / Tim Dyson; 7. Glorifying Malthus: Current Debate on ‘Demographic Dividend’ in India/ K.S. James.
PART – II:
Agriculture
8. Indian Agriculture: Developments, Issues, Policies and Agenda for Reforms (Ed. Notes); 9. Agricultural Development in India: Performance, Issues and Policies / S. Mahendra Dev; 10. Growth in Indian Agriculture: Responding to Policy Initiatives since 2004-05 / Bipin K. Deokar, S.L. Shetty; 11. From Slowdown to Fast Track: Indian Agriculture since 1995/ Ramesh Chand; 12. Agricultural Price Policy, Farm Profitability and Food Security / S. Mahendra Dev, N. Chandrasekhara Rao; 13. The National Food Security Act: Challenges and Options / Ashok Gulati, Shweta Saini; 14. Food Inflation in India: Trends and Causal Factors / S.K. Srivastava, Ramesh Chand; 15. Food Inflation in India: Diagnosis and Remedies / Ashok Gulati, Shweta Saini.
PART – III:
Industry and Infrastructure
16. Industrial Development and Policies since Independence (Ed. Notes);
17. Industrial Performance, 1991-2008: A Review / R. Nagaraj; 18. Industrial Development and Policies since Independence: Growth without Employment / K.L. Krishna; 19. Public Sector Performance since 1950: A Fresh Look / R. Nagaraj; 20. On Strategies for Disinvestment and Privatisation / Vijay Kelkar; 21. Of Omissions and Commissions: India’s Competition Laws / Aditya Bhattacharjea; 22. India’s Labour Market: Laws, Regulations and Reforms / Bibek Debroy; 23. Small-scale Industrialisation under Globalisation: Is the Tide Turning Around? / M.H. Bala Subrahmanya; 24. The Employment Problem in India and the Phenomenon of the Missing Middle / Dipak Mazumdar, Sandip Sarkar; 25. Services in India’s Growth Process (Ed. Notes); 26. Infrastructure and Economic Development (Ed. Notes).
PART – IV:
The External Sector
27. India’s External Sector: Policies, Developments and Issues (Ed. Notes); 28. A Rethink on India’s Foreign Trade Policy / K. Kanagasabapathy, Vishakha G. Tilak, R. Krishnaswamy; 29. India’s External Sector: Do We Need to Worry? / C. Rangarajan, Prachi Mishra; 30. Foreign Direct and Portfolio Investments Flows and Development: A Perspective on Indian Experience / Nagesh Kumar; 31. India and the WTO (Ed. Notes).
PART – V:
Growth and Structural Change since 1950
and Assessment of the Growth Experience
32. Growth and Structural Change since 1950 (Ed. Notes); 33. Macroeconomic Overview: The Growth Story / Manoj Panda; 34. Growth Record of the Indian Economy, 1950-2008: A Story of Sustained Savings and Investment / Rakesh Mohan; 35. Growth and Investment: The Interlinks / C. Rangarajan; 36. Prospects and Policy Challenges in the Twelfth Plan / Montek S. Ahluwalia; 37. India on the Growth Turnpike: No State Left Behind / Arvind Panagariya; 38. Assessment of the Growth Experience: Poverty, Inequality and Unemployment (Ed. Notes); 39. Poverty and Inequality in India: A Re-Examination / Angus Deaton, Jean Drèze; 40. Labour and Employment in Fast Growing India: Issues of Employment and Inclusiveness / T.S. Papola, Alakh N. Sharma; 41. Indian Economy Today: Overview and Comparative Perspective / Uma Kapila.
| Publisher | AF Press |
| Publication Date | 2014 |
| Number of Pages | 1104 |
| ISBN |
9789332701724 |
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Indian Economy Since Independence