Twenty Five Years of Economic Reforms in India: 1991 to 2016 - Couverture rigide

Sury, Dr. M M

 
9788177084344: Twenty Five Years of Economic Reforms in India: 1991 to 2016

Synopsis

After centuries of subjugation, India had a typically backward economy at the time of Independence in 1947. The country suffered from the twin problems of rampant poverty and widespread unemployment, both making for a low general standard of living. During the formative years after Independence, the development pattern of India was quota, permit and license regime guided and controlled by a bureaucracy trained in the colonial style. In the 1980s, policy makers realized the drawbacks of this strategy. Consequently, economic reforms were set in motion when controls on industries were reduced by the 1985 Industrial Policy. In this newly liberalized industrial and trade environment, the government has progressively assumed the role of a promoter, facilitator and catalytic agent instead of a regulator and controller of economic activities. India is now Asia's third largest economy and has the world's fourth largest foreign exchange reserves. This book discusses how India's gradual and cautious approach to economic reforms has proved well-founded, and it shows how the country is placed on a firm footing for future forays into domestic and global economic activities. [Subject: India Studies, Economic History, Economics, Public Finance]

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À propos de l?auteur

Dr. M.M. Sury received his B.A. (Hons.), M.A., and Ph.D. degrees in economics from the University of Delhi. He taught economics in the same University for 42 years. Specialising in fiscal economics, he has published extensively on the Indian fiscal system in recognised national and international journals, including Small Industry Bulletin for Asia and the Pacific (United Nations, Bangkok), Bulletin for International Fiscal Documentation (International Fiscal Association, Amsterdam), Asian-Pacific Tax and Investment Bulletin (Singapore), Journal of the Indian School of Political Economy (Pune), Indian Economic Journal (Bombay), and Margin (New Delhi). He was a Visiting Fellow at the International Bureau of Fiscal Documentation, Amsterdam (May 1989), a Fellow at the Indian Institute of Advanced Study, Shimla (1991-92) and a Visiting Fellow in the Department of Law and Management, University of Mauritius, Mauritius (September-October, 2000). He was Economic Adviser of First Delhi State Finance Commission (1996-97).

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