Economic Reforms and Growth in India: Essays from Economic and Political Weekly
Pulapre Balakrishnan
158 x 240 mm
Year of Publishing
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This volume investigates the nature of economic growth in India, its pace over time, its relationship to changes in the policy regime and the role of the external sector, and uses data to evaluate the policies that have implicitly underpinned the changes. Presenting a range of approaches, views and conclusions, this collection comprises papers from the Economic and Political Weekly that are marked by an empirical awareness necessary for an understanding of a growth history. The articles reflect a certain groundedness in their approach in that they privilege content/context over methodology.

The introduction outlines the importance of putting together the writings of almost a decade on the subject, explains why the issue of development is conspicuous by its absence, and presents this book as a complement to studies addressing a wider set of issues around the economy since 1990.

The book is thematically divided into five sections. The first two are macroscopic in nature, focusing on the overall economic growth. While section one provides an overview, of the subject, attributing causes and delineating the phases of economic growth, the papers in the second section are largely statistical and reflect the progress made by econometricians in devising estimation methodologies. The two sections identify growth regimes and structural breaks in the Indian economy.

The third section focuses on sectoral performances, in particular agricultural and industrial growth, intersectoral linkages, the role of trade and capital flows, and the sources of growth of India’s exports before and after economic reforms. Section four presents data and analyses of inter-state variations in economic growth and regional inequality. The last section analyses the political economy of growth in India. It throws light on the systemic implications of socio-economic changes, their effect on the poor, and the relationship between economic growth and social development.

This volume is an important addition to the literature on post-liberalisation economic growth in India. It will be useful to students and scholars of economics and management.

Pulapre Balakrishnan is Director, Centre for Development Studies, Thiruvananthapuram.

List of Tables and Figures
Pulapre Balakrishnan

1. Economic Growth in Independent India  
Lumbering Elephant or Running Tiger?
Deepak Nayyar
2. Growth Record of the Indian Economy, 1950–2008
A Story of Sustained Savings and Investment
Rakesh Mohan
3. Politics of Economic Growth in India, 1980–2005
The 1980s
Atul Kohli
4. Politics of Economic Growth in India, 1980–2005
The 1990s and Beyond
Atul Kohli
5. Growth and Reforms during 1980s and 1990s
6. Why Did the Elephant Start to Trot?  
India’s Growth Acceleration Re-examined
Section II
Identifying Growth Regimes
7. Structural Breaks in India’s Growth
Revisiting the Debate with a Longer Perspective
Neeraj Hatekar andAmbrish Dongre
8. Structural Breaks in Indian Macroeconomic Data
Jessica Seddon Wallack
9. Understanding Economic Growth in India
A Prerequisite
Pulapre Balakrishnan and M. Parameswaran
Some Observations
Ravindra H. Dholakia
Further Observations
Pulapre Balakrishnan and M. Parameswaran
Section III
Sectoral Histories
10. Growth Crisis in Agriculture
Severity and Options at National and State Levels
Ramesh Chand, S. S. Raju andL. M. Pandey
11. Industrial Policy and Performance since 1980
Which Way Now?
R. Nagaraj
12. Sectoral Linkages and Growth Prospects
Reflections on the Indian Economy
D. V. S. Sastry, Balwant Singh, Kaushik Bhattacharya andN. K. Unnikrishnan
13. Capital Flows into India
Implications for Its Economic Growth
Tanushree Mazumdar
14. Sources of India’s Export Growth in Pre- and Post-Reform Periods
C. Veeramani
Section IV
Regional Differentiation
15. Regional Sources of Growth Acceleration in India
Ravindra H. Dholakia
16. Economic Growth and Regional Inequality in India

17. Economic Performance of States in Post-Reforms Period 
Montek S. Ahluwalia
18. Sources of Economic Growth
Regional Dimensions of Reforms
RichardT. ShandandShashanka Bhide
Section V
Political Economy
19. Predatory Growth
Amit Bhaduri
20. Notes on the Political Economy of India’s Tortuous Transition
21. Economic Growth, Social Development and Interest Groups
C. S. C. Sekhar
List of Contributors
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