About the Book

This book presents perspectives by eminent economists, social scientists and policy makers, exploring in depth the post-reform developments in India, including issues pertaining to growth and equity, issues which have been at the core of life-time work of Prof. R. Radhakrishna. The book brings out how some public policy instruments created to promote growth have turned out to be regressive, promoting inequalities and creating a highly asymmetric federalism in India. It examines the efficacy of fiscal and monetary reforms and also emphasises the need for strengthening the institutions of governance, particularly judiciary and police, in order to boost investors’ confidence. It presents exercises in econometric modelling for explaining factors in growth and vetting policies, and explores the issue of governance and institutions. 

The book provides insights into the working of an emerging economy and a large democracy which has to strive for public acceptability of the tensions of its negotiations between equity and growth. With its depth of academic excellence and breadth of topics covered, it is a ‘must read’ for researchers, policy makers, industry watchers, think tanks, and NGOs.

Contents

Introduction: Inclusiveness in Development Strategies and Policies-Saiyed Raza Hashim

 Instrument of Public Policy and Reforms

 Interstate Inequalities—Scope and Limits of Public Policy-Y. V. Reddy

 Fiscal Dominance of Monetary Policy: Global and Indian Experience-Duvvuri Subbarao

 Post-pandemic Revival Strategy for India-M. Govinda Rao

 Law and Economics of Pure Economic Loss in Tort-Hans-Bernd Schafer

 Econometric Modelling

 Macroeconomic Foundation of Functioning of the IMF: An Evolutionary Journey-Dilip Nachane, Partha Ray

 Assessing Policy Initiatives to Accelerate Economic Growth: An Illustration Using a Macroeconometric Model for India-K. N. Murty

 Determinants of Economic Growth Across States in India-Manoj Panda, Samraj Sahay

 Progress in Applied Econometrics in India: A Selective Review-K. L. Krishna

 Governance and Institutions

 Governing India: What Do We Know and Need to Know?-Rahul Mukherji

 NITI Aayog—An Alternate Think Tank-Atul Sarma

 Indian Official Statistical System-V. S. Ranganadham Maddali

 Poverty and Unemployment

 Poverty in India: Measurement, Trends and Other Issues-C. Rangarajan, S. Mahendra Dev

 A Note on Unemployment and Its Measurement in India-Sripad Motiram

 Sectoral Issues

About the Author / Editor

S. R. Hashim during his long professional career spanning over nearly fifty years, has held high positions in academics as well as in government—planning and economic administration and diplomacy. He held the positions of Professor and Head, Department of Economics, M.S. University of Baroda, Director, Institute of Economic Growth, Delhi, and Director, Institute for Studies in Industrial Development, New Delhi. He served in the Planning Commission of India as Adviser, Principal Adviser, Member and Member-Secretary. He was also Member and Chairman of Union Public Service Commission, Govt. of India. He has extensively worked and written on issues relating to poverty and inequality, water and agriculture. He Chaired the Working Group on Wholesale Price Indices (1997–1999), and was Chairman of the National Commission on Integrated Water Resources Development Plan (1997–1999). He has chaired the Planning Commission’s “Expert Group on Identification of Urban Poor”. He produced many Ph.Ds. He is the editor of Quarterly Journal of Indian Association of social Science Institutions (IASSI).

Rahul Mukherji joined Heidelberg University in 2016 as Professor and Head of the Department of Political Science, South Asia Institute. He has previously taught at the National University of Singapore, Jawaharlal Nehru University (New Delhi, India), Hunter College of City University, New York, and the University of Vermont (USA). His two most recent books are: Globalization and Deregulation: Ideas, Interests and Institutional Change in India (OUP, 2014) and The Oxford India Short Introduction to the Political Economy of Reforms in India (2014). Rahul Mukherji serves on the boards of journals such as Governance, Pacific Affairs, India Review and Bandung: Journal of the Global South.

Brajaraja Mishra is a faculty at ICFAI Business School, Hyderabad, India. Prior to this, he served as an assistant professor at Institute for Development Studies Andhra Pradesh, before which he was at Centre for Economic and Social Studies, Hyderabad. His major areas of research are in the broader areas of inclusive development with specific interest on tribal policy and development, forest ecosystem, poverty/well-being and agrarian economy. His recent publications on tribal policy have wider academic interest.