1st Edition
The Indian Economy Issues, Policies and Performance
This book provides a detailed structured analysis of the transition that has taken place in the Indian economy since independence to the present times (including the period of COVID-19 pandemic). Analysing objectives, achievements and failure of planning, the book discusses the crisis in the late 1980s, followed by economic reforms – structural changes and stabilization policies implemented along with regional variation on the development pattern across states.
The book also examines policies of distribution, poverty, inequality, and unemployment, reform measures in major sectors, namely, banking or financial sector in general, tax or fiscal policy, external or trade and exchange rate policy. This volume will be useful for students, researchers and faculty working in the field of economics, development studies, political science and public administration. The book will also be an invaluable companion to policymakers looking for a thorough and compact view of the transition in the Indian economic situation and the resulting policy changes which took place since India’s independence.
List of figures x
List of tables xii
Foreword xiv
Preface xvi
Acknowledgements xviii
List of abbreviations xix
Introduction 1
1 Economic Development since Independence 8
2 Planning: Overall Perspective and Evaluation 27
3 Population and Human Development 52
4 Growth, Employment and Regional Variation 75
5 Agriculture 98
6 Industry 127
7 Services Sector in India 159
8 Development of Infrastructural Sector in India 176
9 Economic Reforms 190
10 Indian Economy in International Perspective 241
11 COVID-19
Pandemic: Impact and Policy Implications 258
Index 274
Biography
Rajib Bhattacharyya is an Associate Professor in the Department of Economics, Goenka College of Commerce and Business Administration, Kolkata, India, with more than 20 years of teaching experience. His fields of interests are International Trade, Finance and Development Economics. He has contributed and edited several articles in national and international journals/books, namely, IGI Global, Emerald, Routledge and Springer.
Ananya Ghosh Dastidar is Professor and Head, Department of Finance and Business Economics and Dean, FASSH, University of Delhi. An alumnus of St. Xavier’s College, Kolkata and CESP, JNU, she has over 20 years of teaching experience, supervised several MPhil and PhD theses, and her research interests lie in the area of International Economics and the Economics of Development.
The Indian Economy: Issues, Policies and Performances is a concise but comprehensive discussion of the evolution of the Indian economy and the transition in economic policies from the Nehruvian era to current times. Chapters on the demographic transition in India, sectoral changes in the Indian economy over time, comparisons between India and China and a discussion of the socioeconomic impact of COVID-19 and the policy response are highlights of the book. Written by authors with long teaching experience, the book is a must have for undergraduate students and faculty teaching courses on Indian Economics.
Professor Zakir Husain
Professor, Department of Economics, Presidency University
An insightful, comprehensive, accessible and extremely effective textbook on the Indian economy. It is a must read for students and teachers of Indian economics.
Professor Sugata Marjit
First Distinguished Professor, Indian Institute of Foreign Trade, Former Vice-Chancellor, Calcutta University
