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India's Economy

A Journey in Time and Space

Raj Kapila (editor) Uma Kapila (editor)

ISBN: 9788171885817

Publication Date: Sep 2006

Format: Mixed media product

Also available as: Hardback  

Provides insights into India's development journey through time and space - the successes and failures, and the challenges emerging from integration with the world economy. This volume, in three sections, covers the vital issues relating to the journey: Growth, Poverty and Reforms; Globalisation; and Sectoral Developments.

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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: Growth, Poverty and Reforms; Globalisation; and 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.
Illustrations Illustrations
Pages 390
Date Published 30 Sep 2006
Publisher Academic Foundation
Series Economic Developments in India S
Series Part v. 100
Subject/s Development economics  
List of Figures and Tables; Contributors; Message from the Prime Minister of India, Dr. Manmohan Singh; Foreword by Dr. C. Rangarajan; Acknowledgements; Introduction; 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; Globalisation; 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; 19. Managing India's External Sector: Overcoming Challenges in a Globalising Economy Y.V. Reddy; Index.
Raj Kapila is the Director and Chief Editor of Academic Foundation, Delhi. He has written extensively and is also the author of the following publications: The Story of Industrialisation: Industries the World Over (1962), The Time Demands: A Politico-Economic Analysis of Present-day India (1966), India at Cross: After 25 years of Independence (1972). He co-edited with Dr. Uma Kapila, a six volume study entitled Understanding India's Economic Reforms (AF, 1996). This was very well received and consequently led to the evolution of the concept of "Monthly Updates" on Indian Economy that eventually took the form of the present EDI series. Together, they have also edited Banking and Financial Sector Reforms in India (6 vols., 1998) and subsequently: Ongoing Developments in Banking and Financial Sector in India (4 vols., AF, 2000). Most recently, they have co-edited a book: India's Economy in the 21st Century (Academic Foundation, 2001) --- a collection of select articles by eminent economists. Uma Kapila, author/editor of several other books, has taught Indian Economy to undergraduate students for forty two years. She recently retired as Reader from the Department of Economics, Miranda House, University of Delhi. Presently she is Senior Editor, Academic Foundation. As a teacher-fellow at the center for advanced studies, Delhi School of Economics (1976-79), Mrs. Kapila completed her Ph.D. on "Oilseeds Economy of India." she has also served on the Planning Commission Study Group on "Agricultural Strategies in the Eastern Region of India for the seventh Five Year Plan" (Perspective planning Division). Dr. (Mrs.) Uma Kapila is the author of the book "Oilseeds Economy of India" (1982) published by the Institute of Economic Growth under their series "Studies in Economic Development and Planning". She is the editor of the widely read book entitled "Indian Economy Since Independence", currently into its eleventh edition. She also edited, five volume on Indian Economy entitled Recent Development in India Economy with special reference to Structural Reforms. She is, presently, Co-edited with Mr. Raj Kapila, book series on economic developments and on banking and financial sectors developments.

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