India's Economic Reforms, 1991-2001
India is the world's largest democracy, and second-largest developing country. For forty years, it has also been one of the most dirigiste and autarkic. The 1980s saw most developing and erstwhile communist countries opt for market economy systems. India belatedly initiated similar reforms in 1991. This book evaluates the progress of these reforms, covering all the major areas of policy: stabilization, taxation and trade, domestic and external finance, agriculture, industry, the social sectors, and poverty alleviation. Will India realize its great potential by freeing itself from the self-imposed constraints that have hindered its development? This is the important and fascinating question considered by this book.
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achieved adjustment agricultural allowed assets banks borrowing budget capital cent of GDP central Centre Chapter companies competition consider corporate cost countries crores current account deficit debt deposit Development direct discussed domestic Economic effective efficiency employment enterprises estimates excise expenditure exports favour firms fiscal fiscal deficit foreign funds further given growth higher important improvement income increase India industry inflation inflows institutions interest interest rates investment issue labour lending less liberalization limit loans losses major measures Note operation payments political poor poverty present primary problem production profits programme promoters protection public sector raised reasons reduced reform regulation remain Reserve restrictions result rise rural savings schemes securities share social structure subsidies suggested tariff taxation trade wages
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