1st Edition
The Indian Economy @ 75 Successes and Challenges
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
Introduction
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
Banking
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
Biography
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.
