Professional Documents
Culture Documents
India's
Economic Development
Since 1947
Edited by
UMA KAPILA
ACADEMIC FOUNDATION
NEW DELHI
www.academicfoundation.com
QD
Preface
21
The Contributors
23
......:
27
Uma Kapila
The India of 1947
The Planning Era...
Structural Constraints and the
Development Strategy
Role of the State as Visualised in the Fifties
Evolution of-Strategy and Priorities
Changing Perceptions
StracfuraB
:........ 28 ,
30
31
33
36
38
45
45
48
48
50
54
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56
57
61
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66
67
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77
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84
91
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97
102
104
106
108
114
115
118
121
123
C o n t e n t s . . . .
125
Conclusion
133
126
128
130
137
138
141
146
156
160
Rakesh Mohan
160
161
163
164
167
169
2 72
1 74
I 74
176
1 79
183
190
192
193
10
197
198
199
205
211
'.
211
-215 '.
..215
217
217
221
222
223
225
230
237
237
239
243
Tim Dyson
244
Urbanisation
250
The Future
252
256
Discussion
C o n t e n t s . . . .
1 1
James
The Concept of Demographic Dividend
The Theoretical Confusion
Empirical Estimation of Demographic Dividend
Statisti'cal'Analysis
Conclusions
264
268
269
276 '
280
,.,,....;..'....
283
284
Poverty Estimates
284
Report of the Planning Commission Expert Group
(Tendulkar Committee) Regarding PovertJLines...... 288
Poverty Reduction
Poverty and Inclusive Growth
Poverty Alleviation Programmes
291
297
303
Employment Perspective
303
305
308
311
313
31 7
319
322
322
263
323
325
12
326
328
329
331
331
335
335
340
Introduction
Reported Unemployment from the Two Rounds
Data and Estimation
Findings
'.
Conclusions
340
341
342
343
351
354
Pinaki Chakraborty
Budgetary Incidence
Implementation Issues
Spatial Dimension
Summing Up
355
357
359
364
The Background
The Macroeconomic Crisis
Rationale for the Reforms
Macroeconomic Reforms
Fiscal Adjustment and Stabilisation
Fiscal Responsibility and Budget
Management Act, 2003
Central Government Finances
366
366
368
368
3 74
3 78
381
366
Contents...
13
External Balance
Macroeconomic Performance: An Overview
Monetary Policy Issues
Credit Delivery
External Sector Management
Global Financial Crisis: Policy Response
Global Financial Crisis and Conduct of
Monetary Policy
Fiscal Policy Developments
Challenges and Outlook
382
386
386
388
389
390
391
393
395
401
Rakesh Mohan
Introduction
Financial Sector and Monetary Policy:
Objectives and Reforms
An Assessment
Monetary Policy
Some Emerging Issues
Concluding Observations
401
402
415
421
428
438
440
440
442
446
447
451
452
456
458
462
471
472
475
4 75
521
522
523
525
533
549
554
554
556"
574
587
611
621
621
621
Contents...
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623
626
627
629
629
630
630
631
638
639
639
639
640
641
642
645
646
6~50
6~5i
653
656
659
661
667
670
670
673
676
678
6 75
680
16
680
683
688
OECD
Ports
Airport
In Other Sectors, the Framework is not
conducive to competition
Coal
Railways
688
690
695
695
696
698
698
700
709
711
713
714
714
7.76"
725
727
732
736"
740
744
753
758
OECD
Despite Extensive Liberalisation in Some Areas
Regulations are on Average Rather Restrictive
758
764
Contents...
17
798
18
869
870
873
875
576"
880
Global Crisis
884
884
Decoupling Theory
885
Regulatory Failure
888
Concluding Remarks
..888
889
892
899
901
Growth Drivers
901
901
Sectoral Composition
903
Growth Prospects
906
International Comparisons
908
910
Tasks Ahead
.f
917
920
920
921
Contents...
25.
19
932
OECD
26.
27.
997
997
998
1020
1030
1037
'
Longer-term Problems
Trade Liberalisation
Other Longer-Term Trends
Proximate Causes of Food Price Hikes
U-Turn in Washington?
Prospects
1038
1040
1042
1044
1045
1049
Statistical Appendix
1053
1054