1st Edition

The Indian Economy @ 75 Successes and Challenges

Edited By Chatterjee Biswajit, Joydeb Sasmal Copyright 2024
    524 Pages 109 B/W Illustrations
    by Routledge India

    524 Pages 109 B/W Illustrations
    by Routledge India

    This book focuses on the economic challenges India has been facing since its independence in 1947. It traces the country’s journey of economic transition and critically analyzes themes such as the political economy of development, agriculture, macroeconomy, industry and labor, money and finance, trade liberalization, gender, welfare, energy, and the environment. The volume also addresses the issues of increasing income inequality, mass unemployment, and environmental degradation and suggests policies for efficient and desirable outcomes in socio-economic development.

    This is an important and timely contribution that it will be of interest to scholars and researchers in economics, development studies, political economy, management studies, public policy, and political studies. It will also be useful to policymakers.

     List of Contributors

    List of Tables

    List of Figures

    Preface and Acknowledgements


    Section I: Political Economy of Development

    Chapter 1: Towards a “broad” and “long” view of the Political Economy of  India’s economic development 

    Amitava Krishna Dutt


    Chapter 2: Class and Capitalism in India’s Economic Transition

    Anjan Chakrabarti


    Chapter 3: Development Management: A Macro Political Economy Perspective

    Saumya Chakrabarti and Pratip Kumar Datta


    Section II: Macroeconomic Perspectives

    Chapter 4:  Indian Economy - A Story of Faltering Investment

    Sugata Marjit and Kausik Gupta


    Chapter 5:  Fiscal Policy in India: Overview of Some Major Issues

    Soumyen Sikdar and Debkumar Chakrabarti


    Chapter 6: Inflation Expectations of Households

    Kajal Lahiri and Karan Bhasin


    Chapter 7: India’s Foreign Trade: Prospects and Challenges in the Globalized World

    Rajat Acharyya


    Section III: Agriculture, Industry and Labour

    Chapter 8: The Structure of Indian Agriculture: Production, Distribution and Trade

    Sebak Kumar Jana and Debasish Mondal


    Chapter 9:  Indian Manufacturing: The Journey since Independence

    Madhusudan Datta


    Chapter 10:  Unemployment, Labor Force Participation and Post-Independence India

    Saibal Kar


    Chapter 11: An Analysis of India’s Informal Sector

    Nabamita Dutta


    Section IV: Money and Finance

    Chapter 12:  Is India ready for digital currency?

    Parantap Basu


    Chapter 13: Twists and Turns of Monetary Policy in India

    Partha Ray


    Chapter 14: Productivity, Efficiency and Profitability of Mergers in Indian


    Abhiman Das, Subal C Kumbhakar and Janani Rangan


    Chapter 15:  On the Debate of Privatisation of Banks in India:  An Exposition in a

    Historical and Global Perspective

    Hiren Singharay


    Chapter 16:  Evolution of Stock Market in India: Historical perspectives with Empirical Evaluations 

    Sanjay Banerji


    Section V:  Inequality, Gender and Welfare

    Chapter 17: Trends in economic well-being of Indian households: A categorical distribution approach

    Asis Kumar Banerjee


    Chapter 18: The Glory of Motherhood Shackles Economic Development: An Indian Experience 

    Debasis Bandyopadhyay


    Section VI:  Energy and Environment

    Chapter 19: Entropy Law, Economic Processes and the Current Existential Crisis in India: Policy Implications for Sustainability

    Ramprasad Sengupta


    Chapter 20:  India’s Energy Sector: An Assessment

    Tamal Datta Chaudhuri


    Biswajit Chatterjee retired as Professor of Economics from Jadavpur University, Kolkata, India, where he also served as Head of the Department, Dean Faculty Council of Arts, and Planning Commission Chair Professor in Planning and Development. He also taught at Presidency College, Calcutta, and Kalyani University before joining Jadavpur University in 1984. He was also visiting faculty at the Department of Economics, University of Calcutta, Rabindra Bharati University, and Visiting Professor DCRRID, Chandigarh, from June 2010 to June 2014. The major areas of his teaching and research include macroeconomics, international trade, development economics, and Indian economy. He has published in national and international journals of repute, contributed and edited volumes, and has published 8 books and edited 15 books on different branches of development economics. He also delivered lectures at various conferences in India and abroad. He was a consultant to the World Bank, UNDP, and the Planning Commission.

    Joydeb Sasmal is former Professor of Economics at the Department of Economics at Vidyasagar University, Midnapore (West), West Bengal, India. He obtained his MA, MPhil, and PhD degrees in economics from the University of Calcutta. Before joining Vidyasagar University, he taught economics at K. K. Das College in Kolkata under the University of Calcutta. His research areas are natural resources and agriculture, sustainable growth, public economics, economic growth, industry and trade, and child labor. He is the author of Resources, Technology and Sustainability: An Analytical Perspective on Indian Agriculture (2016) and has published nearly 50 research papers in international and national journals and in edited and conference volumes. He is the editor of Inclusive Growth and Backward Region Development, jointly with Sebak Kumar Jana. He has supervised PhD students in different fields of economics at Vidyasagar University.