A Concise Handbook of the Indian Economy in the 21st Century, Second Edition

After experiencing slow growth for much of the post-Independence period, the Indian economy has experienced powerful changes of significant magnitude since the mid-1980s. Post-reform India has defied established economic patterns and, in the process, created a few paradoxes. In this concise edition of The Oxford Handbook of the Indian Economy in the 21st Century, select chapters from the original have been compiled to give students of economics a brief but comprehensive overview of the Indian economy, contributing to a finer understanding of India’s growth path. In discussing these issues, this concise handbook adopts a context-rich, research-based, non-ideological approach; provides a comprehensive yet forward-looking coverage of economic issues; includes political and social aspects and draws on policymaker and market-participant perspectives; brings to the fore the various aspects of India’s performance that now attract global attention; and debates the relative importance of external factors compared to domestic reforms. Sources of growth in India / Laveesh Bhandari and Sumita Kale -- After liberalizing reforms: the importance of domestic demand / Pulapre Balakrishnan and Ashima Goyal -- Fiscal and monetary policy: outcomes and coordination / Romar Correa -- Monetary policy transmission in India: interplay of rate and quantum channels / K. Kanagasabapathy E., Rekha A. Bhangaonkar, and Shruti J. Pandey -- Openness and growth in the Indian economy / Soumyen Sikdar -- Reforms and global economic integration of the Indian economy: emerging patterns, challenges, and future directions / Nagesh Kumar -- Poverty and inequality: redesigning intervention / Raghbendra Jha and Anurag Sharma -- Caste, class, gender: dynamism or stasis? / Ashwini Deshpande -- A governance analysis of transportation in India / S. Sriraman -- Promoting Special Economic Zones as a strategy of industrialization and lessons learned / Aradhna Aggarwal -- Agriculture in India: performance, challenges, and opportunities / S. Mahendra Dev, Srijit Mishra, and Vijay Laxmi Pandey -- New sources of dynamism in the industry / Bandi Ram Prasad -- The financial sector in India: an overview / Rajesh Chakrabarti 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.