India's Economy - A journey in time and space

India's Economy - A journey in time and space

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Author: Eminent Contributors
: Raj Kapila/Uma Kapila
Publisher: Academic Foundation
Year: 2006
Language: English
Pages: 390
ISBN/UPC (if available): 8171885810


This volume includes contributions by some of the most distinguished economists/experts and provides rare insights into India's development journey through time and space—the successes and failures, and the new challenges emerging from integration with the world economy. Opportunities offered by the forces of globalisation offer India immense scope to improve the quality of life of its people provided appropriate policies are put in place.

India's Economy: A Journey in Time and Space, is the hundredth volume of Economic Developments in India. This is a selection of 20 articles from over 500 published in Economic Developments in India since its inception in 1998 upto December 2005. This volume, in three sections, covers the most vital issues relating to the journey: (i) Growth, Poverty and Reforms (ii) Globalisation and (iii) Sectoral Developments: Agriculture, Industry, Financial and External Sectors. The general message which emerges is that India's future problems are no doubt large but manageable. In this context, the book examines the challenges ahead, outlines policies, and identifies lacunae in their implementation, which lie at the root of most of the difficulties facing the nation today. Covering a broad range of critical issues, the book will be of interest to policy-makers, researchers, students of Indian economy and India-watchers.


The list of contributors includes some of our most distinguished and eminent economists. Each one of them has contributed immensely to the analysis of India's economic condition and to policy formulation in their respective areas of expertise. The theoretical and empirical work of the authors is recognised internationally as having contributed to the development of the discipline of economics... The fact that 100th volume of Economic Developments in India is being published is a testimony to the popularity of this series.
-Dr Manmohan Singh
Prime Minister of India; a distinguished economist and widely acclaimed as the principal architect of India's economic reforms.

Commenting on the EDI series (of which this is the 100th volume): "Launched in 1998, Economic Developments in India (EDI) is brought out every month and covers the latest developments in Indian economy..... Volume after volume, month after month, it has contributed immensely towards disseminating high quality academic writings and other important literature on various aspects of India's economy...... It will not be an exaggeration if I say, I cannot find any parallel to this publication. It is indeed a unique ready reference resource.
- C Rangarajan
Chairman, Prime Minister's Economic Advisory Council, Government of India; former Governor, Reserve Bank of India; former Chairman, Twelfth Finance Commission.


List of Figures and Tables


Message from the Prime Minister of India, Dr. Manmohan Singh

Foreword by Dr. C. Rangarajan



Section I
Economy: Growth, Poverty and Reforms

1. India: On the Growth Turnpike
Vijay L. Kelkar

2. Towards a New Development Paradigm
Arvind Virmani

3. Growth, Poverty and Reforms
Jagdish Bhagwati

4. Redefining the Approach to Poverty Reduction and Development
N.A. Mujumdar

5. Poverty and Development Policy
A. Vaidyanathan

6. Fifty Years of India: A Journey in Time
Ashok V. Desai

7. Public Governance
N.R. Narayana Murthy

Section II

8. India in a Globalising World
Montek S. Ahluwalia

9. Indian Economy in the Global Setting
Rakesh Mohan

10. India and Globalisation
Bimal Jalan

11. Half-hearted Globalisation
Shankar Acharya

Section III
Sectoral Development: Agriculture, Industry, Financial and External Sector

12. Reshaping Indian Food and Agricultural Policy to Meet the Challenges and Opportunities of Globalisation
Per Pinstrup-Andersen

13. Food Security in India: Towards Elimination of Hunger and Malnutrition
V.S. Vyas

14. Sustainable Use of Water for Irrigation in Indian Agriculture
C.H. Hanumantha Rao

15. Mission 2007: Every Village a Knowledge Centre
M.S. Swaminathan

16. Unshackling India's Manufacturing - The Ingredients of a Strategy
Bibek Debroy

17. Foreign Direct Investment in India: Trends and Issues
R. Nagaraj

18. Financial Stability: Some Analytical Issues
C. Rangarajan

19. The Emerging Configuration in the Financial Sector
S.S. Tarapore

20. Managing India's External Sector: Overcoming Challenges in a Globalising Economy
Y V Reddy