Overview

The new 19th edition of the widely accepted textbook on Indian Economy for undergraduate students (BA /BCom/Hons) incorporating the latest recommended readings. The book provides a comprehensive coverage of Indian economy under five sections: I. basic issues in economic development: institutional framework and policy regimes; II. growth and distributional issues: poverty, inequality and employment; III. current perspectives in Indian agriculture: growth, productivity, constraints and pricing; IV. industry and services sector; V. financial sector and the external sector. In the present volume, the author has made an effort to keep the language simple without compromising the effectiveness of the argument or diluting the analyses. The book also carries a comprehensive glossary. Apart from undergraduate students, the book is widely used by students preparing for the IAS and other competitive examinations.

Full Product Details

Author:   Uma Kapila
Publisher:   Academic Foundation
Imprint:   Academic Foundation
Edition:   19th Revised edition
Weight:   0.525kg
ISBN:  

9789332704756

ISBN 10:   9332704759
Pages:   560
Publication Date:   31 July 2024
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   In Print  
This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us.

Table of Contents

Contents Preface Section - I Economic Development in Post-Independent India Basic Issues in Economic Development 1. Economic Development and Under Development Introduction What Does Development Mean Economic Growth and Economic Development The New View of Economic Development Development as a Multi-dimensional Process Three Core Values of Development Development, Freedom and Opportunities The Three Objectives of Development The Millennium Development Goals Developed and Underdeveloped Countries Defining the Developing World Characteristics of the Developing World: Diversity within Commonality Lower Levels of Living and Productivity Lower Levels of Human Capital High Rate of Population Growth and Dependency Burden Higher Levels of Inequality and Absolute Poverty Greater Social Fractionalisation Larger Rural Populations but Rapid Rural-to-Urban Migration Substantial Dependence on Agricultural Production and Lower Levels of Industrialisation and Manufactured Exports Underdeveloped Financial and Other Markets Lingering Colonial Impacts External Dependence Nature of Indian Economy Millennium Development Goals, Targets and Achievements 2. Human Development Human Development Human Development Index Are there Limits to Human Development? Sustainability, Equity and Human Development What Makes Development Unsustainable? The Current State of Human Development Human Development: International Comparison Sustainable Development Goals (SDGs) How are SDGs different from the MDGs Interlinked Nature of the Sustainable Development Goals State of Human Development in India Sustainable Development Goals (SDGs) Targets and Achievements 3. India’s Economy at Independence Introduction The Relative Importance of Various Industrial Activities Composition of National Income The Working Force The Agrarian Scene Stagnating Agriculture Causes ¡ Regressive Agrarian Structure ¡ Internal Drain of Capital ¡ Poor Technology India’s Industrial Production and its Structure India’s Industrial Resources The Decline of Traditional Industry and the Development of Modern Industry Some Positive Features Growth, Institutional Framework and Policy Regime 4. Economic Planning: Evolution and Strategy Evolution of Planning Role of the State as Visualised in the Fifties Early Experience with Five Year Plans Changing Perceptions Role of Planning in a Market Economy Redefining the Role of State Relevance of Planning Commission NITI Aayog: Role and Functions 5. Economic Reforms and Liberalisation Debate on Liberalisation The Background The Macroeconomic Crisis Rationale for the Reforms Macroeconomic Reforms Structural Reforms Industrial Policy Reforms Trade Policy Reforms ¡ Tariffs ¡ Removal of Quantitative Restrictions ¡ Indian Customs Single Window Project: 2014-15 ¡ Exchange Rate Reforms Financial Sector Reforms ¡ Capital Markets Fiscal Adjustment and Stabilisation Economic Progress Post-1991 Impact of Economic Reforms on the Vulnerable Sections Conclusions 6. Demography and Development Economic Development and Population Growth The Theory of Demographic Transition The Microeconomic Theory of Fertility How does Population Growth Affect Economic Development? India’s Demographic Transition Causes of High Birth Rate Social Factors Economic Factors ¡ Poverty ¡ Lack of Social Security ¡ Illiteracy, Ignorance and Belief in Fate ¡ Ineffective Family Planning Fertility Rate Causes of Decline in Death Rate Control of Epidemics Control of Famines Improved Medical Facilities Spread of Maternity Homes Impact of Economic Development Measures to Reduce Birth Rate Concerns about Population Growth Gender Equity and the Demographic Transition Population Policy since 1947 National Population Policy, 2000 Objectives Comparing India to China The Experience of Kerala and Tamil Nadu Enabling Factors India's Demographic Dividend 'Window of Opportunity' for India Estimated Demographic Bonus for India India's Response to 'Window of Opportunity' Demographic Dividend and Related Policy Interventions Human Resource Development Public Expenditure and Education Policy Trends in Social Sector Expenditure The Future 7. Land Reforms Objectives of Land Reforms Effects of Land Reforms on Productivity and Poverty 8. Growth and Structural Changes since 1951 Periodisation of Indian Growth Experience India's Growth Turnaround 2003-2008: The Best Phase in Growth Recent Deceleration since 2011 Recent Growth Record Aggregate Demand Growth in Gross Value Added Revised Estimates—January 2016 Quarterly Estimates of GVA at Basic Prices 2016-17 Demonetisation and GDP Growth Performance on Inclusiveness Multidimensionality of Inclusion The Need for Faster Growth International Comparisons Growth and Structural Change Sectoral Growth Trends Growth and Sectoral Shares, Cross-country Evidence and Indian Experience Inter-Regional Disparities in Growth and Development The Way Ahead Growth Prospect: An Assessment Sustainable Development and Climate Change Section- II Growth and Distribution 9. Poverty in India Poverty Estimates The Selection of Poverty Lines Economic Growth and Poverty Growth and Poverty Nexus Comparison of India and China in terms of Poverty Reduction Poverty and Inclusive Growth Non-income Poverty Dimensions Malnutrition A Stronger Welfare System and Improved Social Service Provision are Needed Poverty Alleviation Programmes Programme for Socially Disadvantaged Land Reforms Public Distribution System Public Investment in Human Capital and Public Goods Concluding Remarks 10. Unemployment and Employment Perspective Concepts and Measurement Characteristics and Structure of the Indian Labour Market Trends and Pattern of Employment Growth Growth in Employment, GDP and Employment Elasticity Patterns of Employment Growth at a Disaggregated Level Primary Sector Secondary Sector Services Sector Overall Sectoral Pattern Gender Differentials in Employment Growth Long Term Perspectives Labour Market Reforms would Help Boost Employment Creation Public Employment Programme for the Unorganised Workers: The Case of NREGA An Overview of the Scheme The Performance Success Stories Remaining Gaps Policy Agenda Skill Development: The Challenge Employment Perspective 11. Economic Inequality in India Inequality Inequality after Economic Reforms Section- III Current Perspectives in Agriculture 12. Agriculture: Role and Growth Performance Importance of Agriculture in National Economy Linkage between Agriculture and Other Sectors Agricultural Growth Role of Institutional & Technological Factors in Agriculture Growth The New Technology Characteristics of New Technology Economic Aspects of New Technology Green Revolution Three Phases of Green Revolution The First Phase, 1966-1972 Debacle and the Second Phase, 1973-1980 The Third Phase, 1981-1990 Reform Period, 1991 to the Present Deceleration in Agriculture Growth Instability in Ouput Regional Disparities and Intra-Personal Disparities New Technology and Environmental Degradation Major Factors Affecting the Growth Potential Lack of Long Term Policy Perspective Investment in Agriculture and Subsidies Lagging Research and Development Efforts Technology Generation and Dissemination Rising Soil Degradation and Over-exploitation of Groundwater Degradation of Natural Resources Subsidies vis-à-vis Investments and Farm Support Systems Agriculture’s Terms of Trade and Farm Price Volatility Farm Distress Genesis and Symptoms National Policy for Farmers, 2007 Emerging Imbalances Subsidies versus Public Investment Cereals Production and Build up of Stocks High Value Commodities: The Future Sources of Growth in Agriculture Secondary Agriculture: A Driver for Growth of Primary Agriculture Reforming the Three 'I's: Investments, Incentives, and Institutions Investments Reforming Incentives Price and Marketing Policy Reforming Institutions Marketing and Warehouse Facilities Reforming Land and Credit Markets Trade Policies of Agri Products For a High-yield Agri-trade Domestic Agri Marketing and Production-Policy Reforms Agricultural Policy Review (2018) Key Policy Recommendations Summing up 13. Agricultural Price Policy, Food Management and Food Security Agricultural Price Policy Food Management Food Procurement Policy Price and Distribution Controls in the Food Grain Market Public Distribution System (PDS) Food Subsidy Buffer Stock Food Security Conclusion Section- IV Current Perspectives in Industry and Services 14. Industrial Policy The Industrial Scene at Independence Industrial Control Regime 1950s to 1970s Performance of the Industrial Licensing System Industrial Policy Reforms 1980s The Policy Regime in the 1990s New Economic Policy (1991) Opening up to Foreign Investment Public Sector Reforms and Privatisation Industrial Policy: Recent Policy Initiatives Industrial Policy Objectives for the Twelfth Plan and Beyond 15. Industrial Growth and Structure since 1951 Industrial Growth Policy Regimes and Pattern of Growth Comparative Growth Rates in the 1980s and the 1990s Relative Contribution of Sectors to Total Production The Manufacturing Slowdown (1996-2002) Factors Causing the Slowdown: Some Hypotheses Cyclical Factors in Industrial Slowdown Structural Factors ¡ Infrastructure Constraints in the Industrial Sector Recovery in Industrial Growth since 2002-03 Recent Industrial Growth 2008-09 to 2013-14 and 2014-15 to 2015-16 Industrial Growth 2015-16 to 2017-18 Competing Explanations for the Trends Need for Reconfiguring Development State Why did Manufacturing Sector's Share in Total Employment Stagnate Why did the Reforms Fail to Deliver the Expected Results? India's Unique Pattern of Development Conclusions 16. Micro, Small and Medium Enterprises (MSEs) Role of SMEs in Global Economy: International Scenario Defining MSEs: MSMED Act, 2006 Role of MSMEs in Indian Economy To Generate Large-Scale Employment To Sustain Economic Growth and Increase Exports Making Growth Inclusive Status and Key Challenges Globalisation and Small Industry Performance SSI Performance in the Globalisation Era Performance of the SSI Sector: Pre-liberalisation Period versus Liberalisation Period Performance of the Registered SSI in the Liberalisation Period: 1987/88-2006/07 Inferences and Conclusions (In the Context of Recent Policy Initiatives) 17. Public Sector in the Indian Economy The Rationale Performance of Central Public Sector Enterprises Output and Capital Formation Fall in Public Sector Employment Growth Central PSEs’ Profitability Reasons and Implications Public Sector and 1991 Industrial Policy Policies toward CPSEs and their Implementation Privatisation Privatisation: Indian Experience since 1991 18. Services in the Indian Growth Process Introduction Growth and Sectoral Shares, Cross Country Evidence and Indian Experience Services GDP: International Comparison World Services Trade Factors Underlying the Services Growth Services GDP and Gross Capital Formation State-wise Comparison of Services India’s Services Employment India’s Services Trade Foreign Direct Investment in India’s Service Sector Liberalisation of Services in India India and Trade Negotiations in Services Looking Ahead 19. Foreign Direct Investment Introduction Role of FDI FDI Policy: A Historical Perspective FDI Inflows and their Impact India as an Emerging Source of FDI Outflows Impact of FDI on Growth and Domestic Investment FDI and Export-Platform Production Concluding Remarks and Policy Lessons Policy Lessons FDI Outlook Section- V Financial Sector and External Sector Financial Sector 20. The Financial Sector: Structure,Performance and Reforms Indian Financial Sector: 1950–1990—From Laissez Faire to Government Control Banking in India since the 1990s: Towards Modern Competitive Banking Select Outcomes Money Markets Emerging Issues Financial inclusion The Insurance Sector Since the 1990s: Opening up the Doors Capital Market: Uneven Progress in Different Segments Bond/Debt Market Equity Market Mutual Funds (MFs): The Early Reformer Pension Funds: A Late Entrant Non-Banking Finance Companies (NBFCs): Checkered Trend Concluding Observations External Sector 21. Foreign Trade and Trade Policy Trade Policy The Crisis of 1991: A Turning Point Structural Changes in India’s Foreign Trade during 1980s and 1990s India’s Merchandise Trade: 2001 to 2016-17 The Critical Role of Exports Imports Composition of Trade Direction of Trade Foreign Trade Policy: 2015-2020 Trade Policy Measures FTP: Mid Term Review and Subsequent Trade Related Policies Multilateral Negotiations 22. Balance of Payments Balance of Payments India’s Balance of Payment Trends: 1950-51 to 2015-16 First and Second Oil Shocks of 1973 and 1980 External Payment Crisis of 1991 The Crisis: 1990-1992 India’s BoP during 2011-12 to 2017-18 Recent Trade Policy Developments Managing Capital Flows External Debt Currency Composition of External Debt International Comparison Foreign Exchange Reserves Approach, Developments and Issues Foreign Exchange Rate Policy External Rate Global Economic Developments and their Implications for India Concluding Remarks 23. India and the WTO World Trade Organization 13-18, 2005) India and the WTO India's Participation in WTO Meetings, 2005) WTO Negotiations and India 2005) 24. Indian Economy Today:An Overview and Comparative Perspective India’s Increasing Importance to Global Growth 13-18, 2005) The Search for Prosperity Radical Reform: Rationale and Setting, 2005) Outlook for Growth, 2005) Comparative Perspective Comparisons with the Non-African Poor India’s Decline in South Asia 2005) India among the BRIC 2005) Challenges and Prospects India’s Economic Performance in 2017-18 and Prospects Glossary. Select Bibliography.

Reviews

Author Information

Uma Kapila, author/editor of several other books, has taught Indian Economy to undergraduate students for over forty-two years. She retired as Reader from the Department of Economics, Miranda House, University of Delhi. Presently, she is Editorial Director, Academic Foundation. An Honours Graduate from Miranda House, University of Delhi and M.A. and Ph.D. from Delhi School of Economics, Dr. Uma Kapila has also served on the Planning Commission Study Group on “Agricultural Strategies in the Eastern Region of India for the Seventh Five Year Plan” (Perspective Planning Division). Dr. Uma Kapila is the author of the book Oilseeds Economy of India (1982) published by the Institute of Economic Growth, Delhi. She is also the author/editor of two other textbooks on Indian economy, one meant for B.A. (Hons.) Economics, and the other for B.A.(Programme) and B.Com (Hons.) and Honours other than Economics. She has edited, and co-edited with Raj Kapila, a number of books on India’s economy, banking and finance.

Tab Content 6

Author Website:  

Customer Reviews

Recent Reviews

No review item found!

Add your own review!

Countries Available

All regions