What will you learn from this book
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Economic Reforms: The book discusses the economic reforms that took place in India in the 1990s and their impact on the country's growth. Panagariya explores the liberalization of the economy, privatization, and globalization.
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Demographic Dividend: The author highlights India's demographic advantage, emphasizing the significance of its young population in contributing to economic growth. However, he also points out the challenges in harnessing this demographic dividend effectively.
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Agricultural Transformation: Panagariya addresses the challenges and opportunities in the agricultural sector. The book delves into the need for modernization, better infrastructure, and reforms to boost agricultural productivity.
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Globalization and Trade: The role of globalization in India's economic development is explored, emphasizing the importance of international trade and India's integration into the global economy.
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Infrastructure Development: Infrastructure is identified as a crucial factor for sustained economic growth. The book discusses the challenges and the need for significant investments in areas such as transportation, energy, and telecommunications.
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Social Sector Challenges: Panagariya discusses the challenges in the social sector, including education and healthcare. He emphasizes the need for reforms to address issues such as poor quality of education and inadequate healthcare infrastructure.
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Industrial Policy: The book explores India's industrial policies and the shift from a more regulated economy to one that is more market-oriented. It discusses the impact of these changes on industrial growth.
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Role of the State: Panagariya discusses the role of the state in economic development, advocating for a limited but effective role in areas such as regulation, infrastructure development, and social welfare.
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Poverty Alleviation: The book addresses poverty alleviation strategies and the need for inclusive growth. It discusses the challenges of reducing poverty and improving the standard of living for the entire population.
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Policy Recommendations: Panagariya provides policy recommendations for sustaining and accelerating India's economic growth. These recommendations cover a range of areas, from further economic liberalization to targeted interventions in education and healthcare.
| Language | English |
|---|---|
| ISBN-10 | 0195315030 |
| ISBN-13 | 9780195315035 |
| No of pages | 544 |
| Font Size | Medium |
| Book Publisher | Oxford &ibh |
| Published Date | 17 Mar 2008 |
About Author
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India is not only the world's largest and fiercely independent democracy, but also an emerging economic giant. But to date there has been no comprehensive account of India's remarkable growth or the role policy has played in fueling this expansion. India: The Emerging Giant fills this gap, shedding light on one of the most successful experiments in economic development in modern history.
Why did the early promise of the Indian economy not materialize and what led to its eventual turnaround? What policy initiatives have been undertaken in the last twenty years and how do they relate to the upward shift in the growth rate? What must be done to push the growth rate to double-digit levels? To answer these crucial questions, Arvind Panagariya offers a brilliant analysis of India's economy over the last fifty years—from the promising start in the 1950s, to the near debacle of the 1970s (when India came to be regarded as a "basket case"), to the phenomenal about face of the last two decades. The author illuminates the ways that government policies have promoted economic growth (or, in the case of Indira Ghandi's policies, economic stagnation), and offers insightful discussions of such key topics as poverty and inequality, tax reform, telecommunications (perhaps the single most important success story), agriculture and transportation, and the government's role in health, education, and sanitation.
The dramatic change in the fortunes of 1.1 billion people has, not surprisingly, generated tremendous interest in the economy of India. Arvind Paragariya offers the first major account of how this has come about and what more India must do to sustain its rapid growth and alleviate poverty. It will be must reading for everyone interested in modern India, foreign affairs, or the world economy.