After liberalization in the 1990s, growth rates were higher but were more volatile. The countries that did manage to sustain a high rate of growth followed a pragmatic reform path, which was neither a pure market nor a government-led approach. However, such pragmatic reform requires a deep knowledge of the economy derived from careful fact-based research. This volume contributes to the required knowledge on a range of issues such as drivers of growth, domestic reforms compared to external reforms, macroeconomic policy coordination, macroeconomic policy institutions and practices, the effect of openness and of global economic integration, poverty and the degree of inclusion, bottlenecks in infrastructure, and the performance of major sectors such as agriculture, industry and finance. The essays provide a finer understanding of the interaction between domestic strengths, external opportunities and government interventions.
List of Tables and Figures Introduction by Ashima Goyal 1. Drivers of Growth: Sources and Sectors Laveesh Bhandari and Sumita Kale 2. After Liberalizing Reforms: The Importance of Domestic Demand Pulapre Balakrishnan and Ashima Goyal 3. Fiscal and Monetary Policy: Outcomes and Coordination Romar Correa 4. Monetary Policy Transmission in India: Interplay of Rate and Quantum Channels K. Kanagasabapathy, Rekha A. Bhangaonkar and Shruti Pandey 5. Openness and Growth in the Indian Economy Soumyen Sikdar 6. Reforms and Global Economic Integration of the Indian Economy: Emerging Patterns, Challenges, and Future Directions Nagesh Kumar 7. Poverty and Inequality: Redesigning Interventions Raghbendra Jha and Anurag Sharma 8. Caste, Gender, and Class: Dynamism or Statis? Ashwini Deshpande 9. A Governance Analysis of Transportation in India S. Sriraman 10. Promoting SEZs as a Strategy of Industialization and Lessons Learnt Aradhna Aggarwal 11. Agriculture in India: Performance, Challenges, and Opportunities S. Mahendra Dev, Srijit Mishra, and Vijay Laxmi Pandey 12. New Sources of Dynamism in the Industry Bandi Ram Prasad 13. The Financial Sector in India: An Overview Rajesh Chakrabarti Index About the Editor and Contributors
Ashima Goyal is professor, Indira Gandhi Institute of Development Research, Mumbai, India.
