Cluster University Srinagar

Department of Economics
Syllabus for 5-Year Integrated Programme

Course Title: Indian Economy: Issues and Policies - Semester :8th

Course Code: IEC-C2183 (Core) Credits: 04

Course Description

This course examines sector-specific polices and their impact in shaping trends in key economic
indicators in India. It highlights major policy debates and evaluates the Indian economy through
empirical evidence.
Given the dynamic nature of the subject, the reading list will have to be updated annually.

Course Outline
Unit I: Macroeconomic Policies and Their Impact

Fiscal policy: Objectives of fiscal policy in India, fiscal responsibility in India; FRBM Act.
Finance Commission; functions, Fourteenth Finance Commission award.
Financial And Monetary Policy: Objectives of Monetary policy in India, market stabilization
scheme, evaluation of monetary policy in India, Monetary Policy Committee and RBI autonomy.

Unit II: Population and human development

Demographic features in India- population size and growth rates, Census 2011, Concept and
significance of human capital. Population growth and economic development, Demographic
dividend. Achievements and weaknesses in education and health sectors in India. GDI, HDI &
India, UN Sustainable Development Goals.

Unit III: Poverty and Unemployment

Poverty; definitions, head count ratio, poverty gap & squared poverty gap index, Multi-
dimensional poverty index. Estimates of Inequality & poverty in India. Tendulkar & Rangarajan
committee recommendations. Distribution of Poverty in India. Poverty removal measures since
1991.
Unemployment–Nature, extent and types of unemployment in India, Dominance of informal
sector, Employment generation programmes –MGNREGA.

Unit IV: Inflation, Prices & Banking

Inflation-causes and consequences, Seasonal variation in prices, Food inflation, Whole sale price
index, Consumer price index: components and trends.
Banking sector in India; Evolution of banking since independence, Banking sector reforms,
Priority sector lending.

Books:
1. Agrawal A.N, (2013), Indian Economy Problems of Development and Planning. New Age

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2. Bardhan, Pranab; (2003), PovertyAgrarian Structure and
Political Economy in India.SelectedEssays–OxfordUniversityPress,NewDelhi.
3. Datt,RuddarandSundaram,K.P.M,Latestedition,IndianEconomy,SChandand Co,NewDelhi.
4. Dhingra, Ishwar C. IndianEconomy, Sultan Chand and Sons, New Delhi.
5. Government of India: Economic Survey (latest issue)
6. Jalan,B,TheIndianEconomy–Problems&Prospects,Viking.
7. Misra,S.K&V.K.Puri,IndianEconomy,HimalayaPublishingHouse,NewDelhi.
8. NCEUS: Report on Conditions of Work and Promotion of Livelihood in Unorganised Sector.
9. RaoHunumanta, C.H. (2005), Agriculture, Food Security Poverty and Environment, Essays on Post
Reform in India, Oxford University Press, New Delhi.
10. Uma Kapila (2015), Indian Economy: Performance and Policies, AcademicFoundation,NewDelhi.
11. Uma kapila. (2015), Indian Economy Since Independence: A Comprehensive and Critical Analysis
of India's Economy 1947-2015.AcademicFoundation, New Delhi. 12. Ramesh Singh (2020), Indian
Economy: McGraw Hill
13. Shanker Ganesh: Indian Economy key concepts:
14. Indian Economy – Twenty Twenty: Arihant
Readings:
1. Shankar Acharya, 2010, ―Macroeconomic Performance and Policies 2000-8,ǁ in Shankar Acharya
and Rakesh Mohan, editors, India’s Economy: Performances and Challenges: Development and
Participation, Oxford University Press.
2. Rakesh Mohan, 2010, ―India‘s Financial Sector and Monetary Policy Reforms,ǁ in Shankar
Acharya and Rakesh Mohan, editors, India’s Economy: Performancesand Challenges:
Development and Participation, Oxford University Press.
3. A. Ahsan, C. Pages and T. Roy, 2008, ―Legislation, Enforcement and Adjudication in Indian
Labour Markets: Origins, Consequences and the Way Forward, in D.Mazumdar and S. Sarkar,
editors, Globalization, Labour Marketsand Inequality in India, Routledge.
4. R. Nagaraj, 2013, “India’s Dream Run”, 2003-08, EPW May 18.
5. Manoj Panda, “Macroeconomic Overview: The Growth Story”, in in MahendraDev (ed), India
Development Report 2012-13.
6. Himanshu, 2010, Towards New Poverty Lines for India, Economic andPolitical Weekly, January.
7. 6. Jean Dreze and Angus Deaton, 2009, Food and Nutrition in India: Facts andIntepretations,
Economic and Political Weekly, February.
8. 7. Himanshu. 2011, ―Employment Trends in India: A Re-examination, Economicand Political
Weekly, September.
9. 8. Rama Baru et al, 2010,―Inequities in Access to Health Services in India: Caste,Class and
Region, Economic and Political Weekly, September.
10. 9. Geeta G. Kingdon, 2007,―The Progress of School Education in India, OxfordReview of
Economic Policy.
11. 10. J.B.G. Tilak, 2007, ―Post Elementary Education, Poverty and Development inIndia,
International Journal of Educational Development.
12. 11. T. Dyson, 2008, ―India‘s Demographic Transition and its Consequences forDevelopmentǁ in
Uma Kapila, editor, Indian Economy Since Independence, 19edition, Academic Foundation.
13. 13. K. James, 2008,―Glorifying Malthus: Current Debate on Demographic Dividend
inIndiaǁEconomic and Political Weekly, June.
14. 14. ReetikaKhera, 2011,―India‘s Public Distribution System: Utilisation and Impact Journal of
Development Studies.

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