In this book –the authors present a comprehensive survey of the Indian Economy in terms of GDP growth, saving and investment, allocation of growth to various sectors-agriculture, industry and services. The contradiction observed in India is that the reform process has resulted in boosting GDP growth, but has slowed down the process of poverty reduction and growth of employment.
The problem of fiscal deficit reduction and its success and failure during the various phases of the reform process has been the focus of attention in public finance. The role of balance of trade and balance of payments and the problem of balance of payments crisis has been analysed.
A survey of the Indian Economy and its movement over the last five decades marked by the failures and success of the planning effort have received adequate attention. The promises of the Liberalisation, Privatisa-tion and Globalisation model of development and their actual realisation has been discussed at length. Latest Reports, both official and non-official, find an adequate place in the analysis. The problems of Human Development in India form a separate chapter. A scathing analysis of the Report of the Second National Commission on Labour has been undertaken.
Two New Chapters have been added in the book:
1. Common Minimum Programme
2. Budget (2004-05) of UPA Government
Following New Topics have been added in this edition.
1. PURA A Neo-Gandhian Approach to Development
2. Corruption and development in India
3. WTO, Subsidies and Agriculture
4. Kelkar Task Force Proposals
5. Geneva Framework of WTO and India
6. Tenth Five Year Plan and Regional Development
7. Foreign Trade Policy (2004-09)