India: Macroeconomics and Political Economy, 1964-1991
Presents a history of India's macroeconomy and recent developments in its political economy. Valuable lessons from India's stabilization policies explain how structural adjustment can also benefit long-term growth in the subcontinent. This analysis looks at various government policies that have influenced imports and exports, national investment and savings, gross national and domestic product, and the balance of payments. It specifically examines the degree to which stabilization has reformed agriculture and industry and has improved the relationship between the public and private sectors. A brief introduction to the Indian economy is given, and India's basic economic controls are reviewed. These include the government's national budget and its regulation of prices, production, investment, interest rates, and credit allocation. Also discussed are recent trends in investment and public spending.
Other editions - View all
adjustment agricultural annual average balance of payments borrowing capital caused central changes chapter continued controls corporate countries course crises crisis current account deficit debt demand depreciation devaluation developing discussed domestic drought Economic effect enterprises equation estimates example exchange rate expenditure exports external fact fall fell figures Finance fiscal deficit fixed foreign given Government of India grew gross growth half household imports income increase industrial inflation interest less liberalization macroeconomic mainly manufacturing measures ment million Ministry monetary policy nominal Note organized output party percent of GDP percentage period Planning political position problem production proportion public investment public sector ratio reasons reduced relative Reserve Bank response result rise rose savings shock Source stabilization Statistics stocks subsidies supply Table trade trend various wages World