The Evolution of Economic Policy in India

The Evolution of Economic Policy in India

Product ID: 11130

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Author: P N Dhar
Publisher: Oxford University Press
Year: 2003
Language: English
Pages: 252
ISBN/UPC (if available): 0 19 566413 2


In this collection P N Dhar, one of India’s most eminent economists, provides a unique and intelligible record of the causes and consequences of changes in economic policy during the first half-century of India’s independence. He deals with the economics of development policy and issues relating to the changing nature of India’s political economy.

The book traces various aspects of development under the aegis of the five-year plans. For decades, the Indian government under-emphasized agriculture and over-depended on foreign aid. It institutionalized inefficiency of the public sector and followed a confused socialist ideology leading to structures of privilege. Policies that were politically popular and yet economically irrational were implemented. Dhar underlines that unless this gap between economic rationality and political feasibility is substantially reduced India will not fully realize its economic potential.

These essays were written over a period of forty years for public discussion and debate and will find a large audience amongst the general readers. However, the volume is also a must-read for policy-makers, researchers, and students.




Evolution of Economic Policy: An Overview

Strategy for Growth: emphasis of Capital Good Sector

Economy under a Shadow: Plea for Aid

Economic Challenges

Centre-State Relations and Industrial Development

The Need for Debate

Political Economy of Development in India

Constraints on Growth

Economic Reforms in India: An Interim Assessment

Epilogue: India and the World


Industrialization and the Indian Elite

Indira Gandhi on the Role of the Public Sector: Interview with P N Dhar

Some Observations on Small-Scale Enterprise Development

Globalized Economy: Much Ado about Sovereignty

Agenda for Economic Reform

Nehru Versus Nehruites