Author: P N DharPublisher: Oxford University PressYear: 2003Language: EnglishPages: 252ISBN/UPC (if available): 0 19 566413 2
In this collection P N Dhar, one of India’s most eminent economists, provides a unique and intelligible record of the causes and consequences of changes in economic policy during the first half-century of India’s independence. He deals with the economics of development policy and issues relating to the changing nature of India’s political economy.The book traces various aspects of development under the aegis of the five-year plans. For decades, the Indian government under-emphasized agriculture and over-depended on foreign aid. It institutionalized inefficiency of the public sector and followed a confused socialist ideology leading to structures of privilege. Policies that were politically popular and yet economically irrational were implemented. Dhar underlines that unless this gap between economic rationality and political feasibility is substantially reduced India will not fully realize its economic potential.These essays were written over a period of forty years for public discussion and debate and will find a large audience amongst the general readers. However, the volume is also a must-read for policy-makers, researchers, and students.
AcknowledgmentsIntroductionEvolution of Economic Policy: An OverviewStrategy for Growth: emphasis of Capital Good SectorEconomy under a Shadow: Plea for AidEconomic ChallengesCentre-State Relations and Industrial DevelopmentThe Need for DebatePolitical Economy of Development in IndiaConstraints on GrowthEconomic Reforms in India: An Interim AssessmentEpilogue: India and the WorldAPPENDICESIndustrialization and the Indian EliteIndira Gandhi on the Role of the Public Sector: Interview with P N DharSome Observations on Small-Scale Enterprise DevelopmentGlobalized Economy: Much Ado about SovereigntyAgenda for Economic ReformNehru Versus NehruitesIndex