Preface

 

Acknowledgements

 

The Contributors

 

Part - I : Planning, Institutional Framework, Constraints
              and Role of the State

 

1. Indian Economy at Independence
    — Uma Kapila
• The Colonial Regime
• The India of 1947
• Distribution of National Income and Workforce
   Sectorwise
• The Planning Era.

 

 

2. Planning and the Market (Ed. Notes)

• Structural Constraints and the Development Strategy
• Role of the State as Visualised in the Fifties
• Evolution of Strategy and Priorities
• Changing Perceptions
• Role of Planning in a Market Economy
• Redefining the Role of State
• The Government, the State and the Market
• Cooperative Action.

 

 

3. Eleventh Five Year Plan: The Critical Issues
    — Manmohan Singh

 

4. On Correcting Fiscal Imbalances in the Indian
    Economy: Some Perspectives
    — Mihir Rakshit

• Introduction
• On the Economic Impact and Sustainability of Debt and Deficit
• Budgetary Objectives and Instruments
• Fiscal Malady in India: Diagnoses and Remedies
• Conclusions.

 

5. Fiscal and Budgetary Developments

• Trends in Deficits of Central Government
• Central Government Finances
• Budgetary Developments in 2007-08
• Revenue and Capital Receipts
• Tax Measures: Direct Taxes; Indirect Taxes
• Service Tax
• Expenditure Trends
• Interest Payments
• Subsidies
• Government Debt
• Economic and Functional Classification
• Expenditure Management
• Financing of Gross Fiscal Deficit
• Financing of the Eleventh Five Year Plan
• Certain Issues Relating to Accounting System
• Finances of State Government
• Challenges and Outlook
• Budget at a Glance 2008-09.

 

6. Demographic Constraints: Population Change
    and Economic Development (Ed. Notes)

• Economic Development and Population Growth
• Population Trends
• Gender Equity and the Demographic Transition
• Population Policy since 1947
• National Population Policy 2000
• Objectives of National Population Policy
• Implications of Mortality Decline for the Future
• Human Resource Development
• Education Policy in India
• Public Expenditure and Education Policy
• Health Care as a Social Responsibility
• Tamil Nadu: The Success Story
• Enabling Factors

 

 

7. India’s Demographic Transition and Its
    Consequences for Development 
    — Tim Dyson

• India’s Demographic Transition
• Urbanisation
• The Future
• Discussion

 

 

8. Demographic Aspects of Development: The
    Indian Experience 
    — Pravin M. Visaria

• Population Growth in Historical Perspective
• Fertility
• Age at Marriage
• Marital Fertility
• Practice of Contraception
• Some Critical Questions
• Rise in Contraceptive Use and Fall in Birth Rates
• Recognition of the Population Problem
• Possible Pathways to a Faster Decline in Fertility
• Urbanisation
• Workforce Participation and Industrialisation
• Literacy and School Enrolments
• The Status of Indian Women
• Infrastructure and Communication
• Population Projections
• Age Distribution of the Indian Population
• The Experience of Kerala and Tamil Nadu
• Policy Shifts Essential for the Tasks Ahead

 

 

Part - II : Agriculture

 

9. Indian Agriculture: Developments, Issues
    and Policies (Ed. Notes)

• Linkage between Agriculture and Industrial Sectors
• The Institutional Context
• Economic Arguments in Favour of Land Reform
• The New Technology
• Three Phases of Green Revolution
• Reform Period, 1991 to the Present
• Deceleration in Agriculture Growth
• Major Factors Affecting the Growth Potential
• Irrigation
• Food Management
• Food Procurement Policy
• Public Distribution System (PDS)
• Food Subsidy
• Food Security
• Agricultural Price Policy
• Rural Distress in Post-Reform India
• Farmers’ Suicides
• India and WTO
• Implications of Trade Liberalisation for
   Agricultural Growth, Poverty, and Food Security
• Conclusion

 

 

10. Reforms in Land System in Post-Independent India
      — S.K. Ray

• Policy Objectives for Structural Reorganisation
• The Reform Controversy
• Impact of Structural Reorganisation
• Emerging Perspectives and Policy Issues

 

 

11. Growth Crisis in Agriculture: Severity and Options at
      National and State Levels
      — Ramesh Chand, S.S. Raju, L.M. Pandey

• Performance at All-India Level
• Factors Related to Growth at National Level
• Regional Scenario of Agricultural Growth
• Factors Affecting Growth at State Level
• Options for Revival of Agricultural Growth
• Conclusions

 

12. Food and Nutrition Security of the Poor: Emerging
      Perspectives and Policy Issues
      — R. Radhakrishna

• Cereal Consumption
• Food Consumption and Calorie Intake
• Nutritional Status
• Poverty and Malnutrition
• Concluding Observations

 

 

13. Food Policy in India: Some Longer Term Issues
      — Mihir Rakshit

• Some Basic Questions
• Designing an Optimal System of Public Intervention
• Policy Instruments and Behaviour of the Food Economy
• Instruments and Objectives
• Inter-year Consumption Smoothing
• Minimum Support Price, Rationing and Buffer Stocking
• Food Policy in an Open Economy
• Policy Instruments
• Buffer Stocking and Food Security
• On How to Make PDS Redundant
• Conclusions

 

 

Part - III : Industry & Infrastructure

 

14. Industrial Development and Policies since
      Independence (Ed. Notes)

• Extent and Pattern of Industrialisation
   during the British Rule
• The Industrial Scene at Independence
• Industrial Control Regime
• The Policy Regime in the 1990s
• New Economic Policy
• Opening up to Foreign Investment
• Industrial Growth
• Phases of Industrial Growth
• Industrial Growth in the 90s
• Revision of IIP
• Profile of Industrial Growth
• Decline in Employment Growth in Organised Manufacturing
• The Manufacturing Slowdown
• Factors Causing the Industrial Slowdown: Some Hypotheses
• Cyclical Factors in Industrial Slowdown
• Infrastructure Constraints in the Industrial Sector
• Industrial Performance and Credit Growth
• Productivity Trends in the Manufacturing Sector
• Recovery in Industrial Growth since 2002-03
• Industrial Policy: Recent Policy Initiatives
• Central Public Sector Enterprises
• Public Enterprise Policy
• Privatisation

 

15. Industrial Growth and Diversification
      — K.L. Krishna

• Introduction
• Sources of Data on Industrial Output/Value Added
• Growth Trends in the Era of Planning
• Diversification of the Industrial Sector
• The Deceleration Debate
• Growth Experience of the 1980s
• Summary and Conclusion

 

16. Industrial Policy and Performance since 1980: Which Way Now? 
      — R. Nagaraj

• Evolution of Policy since 1980
• Industrial Performance, 1980-81 to 2001-02
• A Closer Look at the 1990s
• Towards an Explanation
• Policy Options and Constraints
• Summary and Conclusions

 

17. Fall in Organised Manufacturing Employment
     (A Brief Note)
     — R. Nagaraj

• Facts
• An Explanation
• Implications
• Conclusions

 

18. Public versus Private Sector: Neglect of Lessons
     of Economics in Indian Policy Formulation
     — B.S. Minhas

• Introduction
• Reasons for Market Failure
• Bureaucratic Failure
• Market Failure and Public Sector Production
• Private versus Political Firms
• Public Sector in India
• State as a Private Trading Post
• Commanding Heights of the Economy or
   Deep Swamps of Inefficiency
• Ideology and Competition as Tools of Discipline
• Some Concluding Remarks

 

 

19. Services in India’s Growth Process

• Growth and Sectoral Shares, Cross Country Evidence and Indian Experience
• Which Services have Grown Rapidly?
• Factors Underlying the Services Growth
• World Trade in Services Sector
• Summing Up

 

 

20. Infrastructure and Economic Developments (Ed.)

• The Need for a New Approach
• The Necessary Regulatory Frameworks
• Performance of the Infrastructure
• New Initiatives for Infrastructure Development
• Viability Gap Funding for Infrastructure
• Appraisal and Approval Procedures
• 11th Plan Investment Requirement
   for Infrastructure
• Challenges and Outlook

 

 

Part - IV : The External Sector

 

21. India’s External Sector: Policies
      Developments and Issues (Ed. Notes)

• Trade Policy
• Foreign Trade Performance
• Structural Changes in India’s Foreign Trade
• Special Economic Zones
• India’s Balance of Payment Trends 1950-2006
• Sustainability of Current Account
• Capital Account, External Debt and Exchange Rate
• Roadmap Towards Fuller Capital Account Convertibility
• Foreign Investment
• External Commercial Borrowings
• External Debt Management
• Foreign Exchange Reserves:
• Approach, Developments and Issues
• Exchange Rate Management
• Summing Up

 

 

22. Foreign Direct Investment in India in the
     1990s: Trends and Issues 
     — R. Nagaraj

• Introduction
• Reforms in the 1990s
• A Brief Analytical Review
• Data on FDI and their Limitations
• The Trends
• FDI Approvals and its Composition
• Interpreting the Trends
• A Comparison of FDI in India and China
• A Preliminary Assessment
• Focus on Domestic Market
• Problems with Infrastructure Investment
• Net Foreign Exchange Inflow
• Technology Spillovers
• Decline in Competition
• Foreign Exchange Earnings
• Brand Names
• Loss of Bargaining Power in the
   Technology Market
• Towards a Realistic FDI Policy
• Summary and Conclusion

 

23. India and the WTO

• India's Participation in WTO Meetings
• The Sixth WTO Ministerial Conference at
   Hong Kong, (December 13-18, 2005)
• And After (July 24, 2006)
• India's Stand on Various Issues

 

Part - V : Growth & Structural Change Since 1950
               and Assessment of the Growth Experience

 

24. Growth and Structural Change Since
      1950 (Ed. Notes)

• The Performance
• Two Phases of Growth
• Assessment of Performance
• Causal Factors
• What Next?
• Emerging Indian Economy
• A Vision for the 11th Plan
• Growth and Structural Change
• Structural Change in terms of Industrial Distribution
   of Workforce and Occupational Structure
• Occupation Structure

 

 

25. Growth Record of the Indian Economy, 1950-2008: A
      Story of Sustained Savings and Investment
      — Rakesh Mohan

• A Review of the Indian Growth Process
• Growth Acceleration over the Decades
• Consistent Growth in Savings and Investment
• Growing Fiscal Imbalance and Correction
• Public Sector Savings
• Performance of the Private Corporate Sector
• Household Savings
• Estimation of Savings and Investment
• Efficiency in the Use of Resources
• Financial Sector Reforms
• Prospects for the Next Five Years
• Issues and Challenges

 

26. Regional Dimension of Growth and
      Employment
      — K.V. Ramaswamy

• Growth in Interstate GSDP and Employment
• Regional Employment Structure
• Employment, Labour Productivity and Education
• Concluding Remarks

 

27. Growing Regional Disparities in Development
      in India: Post-Reform Experience and
      Challenges Ahead
      — C.H. Hanumantha Rao

• Sectoral Composition of Growth
• Causal Factors
• The Way Ahead

 

 

28. Assessment of the Growth Experience: Poverty,
      Unemployment and Inflation (Ed. Notes)

• Poverty and Unemployment
• Poverty Estimates
• Employment Perspective
• Labour and Unemployment
• Women in the Workforce
• Employment in the Organised Sector
• Educated Employment
• Results of 61st Round of NSSO Survey
• Structure of Workforce: Activity-Status,
   Occupational and Industrial Distribution
• Indian Labour Laws and Labour Markets
• Strategies and Policies for Employment Generation
• Inflation

 

 

29. Employment and Growth
      — C. Rangarajan

• Structural Changes in the Economy
• Current Scenario of Employment and Unemployment
• Towards An Employment Strategy
• Conclusion

 

 

30. Poverty and Inequality in India: A 
      Re-Examination 
      — Angus Deaton, Jean Drèze

• Economic Inequality in the Nineties
• Qualifications and Concerns
• Beyond Poverty Indexes

 

 

31. Inflation

• Measurement
• Trends in Wholesale Prices: 1950s to 1980s
• The Period of 90s
• Recent Trends in WPI
• Reasons for Recent Price Increase
• Trends in CPI
• Inflation Rate based on CPI(IW)/ Consumer
   Inflation
• Inflation Targeting
• Issues in Price Stability
• Anti-inflationary Measures
• Concluding Remarks
Statistical Appendix
Selected Economic and Social Indicators
1950-51 to 2006-07.