It analyses the performance of the Indian economy during a decade of wide ranging economic reforms, which commenced in mid-1991, as compared to its behaviour in the eighties when some piecemeal measures of liberalization had been taken. Starting with an overview, the book comprehensively covers important aspects like GDP and Employment Growth, Human Development, Poverty Alleviation, Privatization, Savings and Investment (including foreign investment), Agriculture, Industry, Resource Mobilisation by the Government, Public Expenditure, Deficit Financing, External Debt, Foreign Trade, Balance of Payments and Behaviour of Prices. A comparative study of economic growth in India and China during the reforms period has been made to draw some lessons from the Chinese experience. Inter-state disparities in development (including rural and urban and gender disparities), and inter-state variations in public expenditure patterns and their implications, have also been analysed. The entire study is based primarily on empirical evidence relating to two decades, the eighties and the nineties, collected from various authoritative national and international sources.
Rs 1200
US$ 45
Keshava Dayal Saksena topped in M.A. (Economics), Lucknow University in 1957. Throughout first class, he won several academic distinctions. Was Ford Foundation Research Scholar, Delhi School of Economics/Institute of Economic Growth, Delhi from January 1958 to May 1961. Joined Indian Administrative Service on June 1, 1961. Held several senior positions in both the Central and State Governments including Adviser, Planning Commission, Secretary to Govt. of India, Ministry of Textiles and Member, BIFR. Was Economic Planner, Bhutan in 1989 on a UNDP assignment.
Work done by Saksena as Visiting Fellow, Queen Elizabeth House, Oxford, during 1984-85, published in the form of a book 'Pricing Policies and Price Control in Developing Countries' in 1986 simultaneously by Frances Pinter (Publishers), London and Lynne Rienner Publishers Inc., Colorado, USA, was widely acclaimed. Subsequently, Shipra Publications published 'Environmental Planning, Policies and Programmes in India', a book written by him under an Author's Contract with the FAO of United Nations, in 1993 and another book 'Dynamics of India's Textile Economy' in 2002.
Preface
LIST OF TABLES
ECONOMIC REFORMS: CONCEPT, CONTENTS AND CONSEQUENCES - AN OVERVIEW;Concept and Contents of Economic Reforms, An Empirical Analysis of the Consequences of Economic Reforms, Some Gains and Losses of Economic Reforms Summarily Stated-The Balance Sheet, Some Other Significant Trends
GROWTH OF GDP, STRUCTURE OF GDP, AVAILABILITY AND EMPLOYMENT: GDP and GDP Per Capita, Economic Performance of India and Other Selected Countries, Demographic Trends in India and Other Selected Countries, Structure of GDP, Structure of GDP in Selected Countries, . Structure of GDP in Agriculture, Forestry and Fishing Sector . Structure of GDP in the Industry Sector, Structure of GDP in the Service Sector, Production and Availability, Employment
PROGRESS OF PRIVATISATION AND GROWTH OF THE PUBLIC SECTOR: Progress of Privatisation, Public Sector, Some Conclusions
HUMAN DEVELOPMENT, POVERTY AUEVIATION AND REDUCTION IN INEQUALITIES: GDP Growth, Human Development and Poverty Reduction, Human Development, Human Poverty, Inequalities, Gender Inequality
SAVINGS, CAPITAL FORMATION AND FOREIGN INVESTMENT: Role of Savings in a Developing Economy, Growth of Domestic Savings (GDS), Growth of Capital Formation, Growth of Savings-Investment Gap, Growth of Foreign Investment in India, Foreign Direct Investment in India and Other Countries, Foreign Investment's Contribution to Total Capital Formation in India, Savings, Investments and Real GDP Growth
GROWTH OF AGRICULTURE
GDP and Capital Formation in Agriculture, . Area Under Cultivation, . Agricultural Production, Agricultural Productivity, Availability and Use of Agricultural Inputs, Agricultural Credit, Agricultural Exports, Terms of Trade Between Agricultural and Non-Agricultural Sectors, Agricultural Subsidies and Public Investment in Agriculture, Some Broad Conclusions and Action Points
FOODGRAINS POLICY
Broad Objectives of Foodgrains Policy, Measures to Operationalise the Foodgrains Procurement and Distribution Policy, Some Undesirable Consequences of the Operational Measures, Growth of Availability, Procurement, Distribution and Stocks of Foodgrains, Minimum Support Prices, Economic Costs of Procurement and Public Distribution of
Foodgrains, Some Suggested Alternatives
GROWTH OF INDUSTRY
GDP and Capital Formation in Industry, Industrial Production, Performance of SS I Sector, Exports of Manufactured Goods, Reasons for Deceleration ofIndustrial Growth in the Decade of Refonns, Need for Reorientation ofIndustrial Policy
GROWTH OF RESOURCE MOBILIZATION BY CENTRAL AND STATE GOVERNMENTS
Mobilization of Total Revenue: Tax and Non- Tax, Tax Revenues, Non-Tax Revenues, . Resources Transferred from the Centre to the States' , Capital Receipts, Some Conclusions and Suggestions
GROWTH OF EXPENDITURE BY CENTRAL AND STATE GOVERNMENTS
Revenue and Capital Expenditure, Non-Developmental and Developmental Expenditure , Government Expenditure (Centre and States Combined)in Selected Sectors, Major Components of Non-Developmental Revenue Expenditure, Subsidies, Some Significant Points Emerging from the Analysis
DEFICIT FINANCING BY THE GOVERNMENT
Concepts of Deficit Financing, Rationale for Relating All Deficits to GDP, Sustainable Deficit Financing, Concepts of Fiscal Responsibility and Debt Management, Some Fallacies Relating to Deficit Financing, Gross Fiscal Deficit, GDP, Capital Formation, Inflation, Current AIC Deficit and Debt Indicators-Empirical Evidence of Relationships, Growth of Centre's Overall Budgetary Surplus/Deficit and Its, Financing, Growth of Deficits, Growth of Receipts and Payments of Interest, Growth of Total Expenditure and Fiscal Deficit, Growth of Financing Pattern of Centre's Gross Fiscal Deficit . Growth of Financing Pattern of States' Fiscal Deficit, Some Indicators of Fiscal Discipline, Some Important Points Emerging from the Analysis
INDIA'S EXTERNAL AND INTERNAL DEBTS AND OTHER LIABILITIES
Growth of Volume, Structure and Sustainability of External Debt, Growth of External Assistance, Growth of Intemal Debt and Other Internal Liabilities of the Centre, Growth of States' Debt, Growth of Domestic Liabilities of the Centre and the States Combined
GROWTH OF FOREIGN TRADE AND STRUCTURE OF PRINCIPAL EXPORTS AND IMPORTS
India's Principal Exports, Technology Intensity of India's Exports, Contribution of Foreign Investment Companies to India's Exports, Exports of Selected Agricultural and Allied Products, Quantities Exported of Selected Agricultural and Allied Products, Exports of Selected Manufactured Goods, India's Share in World Export of Selected Commodities, Principal Imports, Oil Exports and Oil imports
BALANCE OF PAYMENTS AND GROWTH OF FOREIGN EXCHANGE RESERVES
Current Account Balance, Current Account Deficits and Fiscal Deficits, Some Fallacies About Current Account Deficit, Sustainable Level of Current Account Deficits, Growth of Invisible, Impact of Oil Imports on Foreign Trade Deficit, Growth of Capital Receipts, India's Overall Balance of Payments and Monetary Movements, Growth of India's Foreign Exchange Reserves, Adequacy of Foreign Exchange Reserves, Capital Account Convertibility
INFLATION AND THE PURSUIT OF PRICE STABILITY
Inflation and GDP and Employment Growth, Measurement of Inflation in India, Behaviour of Wholesale Prices, Behaviour of Consumer Prices, Inflation Rate and Growth of GDP, Employment and Related Variables
INDIA AND CHINA: LESSONS FROM CHINESE ECONOMIC REFORMS
Limited Validity of Comparison, Meaning and Contents of Economic Reforms, Salient Features of Economic Refonns in China and A Comparison with Indian Situation, Performance of Indian and Chinese Economies: A Comparison . Some Lessons from the Chinese Experience, Catching up with China
INTER-STATE DEVELOPMENT DISPARITIES
. Net State Domestic Product, Poverty and Human Development, Structure of State Domestic Product (SDP), Labour Productivity in the States, Population, Density of Population and Urbanisation in the States, Changes in Total Fertility Rates and Couple Protection Rates, Foodgrains Production in the States, Employment and Unemployment, infrastructure-Road Connectivity and Electricity Consumption in the States., Basic Health Facilities, Households with Safe Drinking Water, Pucca Houses and Toilet Facility, Literacy and Schools in the States
INTER-STATE RURAL AND URBAN DEVELOPMENT DISPARITIES
Poverty Levels, Consumption Levels, Human Development Index (HDI) and Human Poverty,
Index (HDI), Growth of Literacy, Growth of Basic Amenities, Health Related Indicators, Employment and Unemployment, Road Connectivity At Village Level,
INTER-STATE GENDER DISPARITIES IN DEVELOPMENT
Gender Inequality Indicators, Literacy and School Education, Longevity and Sex Ratio, Employment and Unemployment Rates
PATTERNS O(PUBLIC EXPENDITURE IN THE CENTRE AND THE STATES
Plan and Non-Plan Expenditure, Revenue and Capital Expenditure, Capital Content of Plan and Non-Plan Public Expenditure, Changes in the Composition of Public Expenditure, Public Expenditure on Education and Health, Sectoral Composition of Actual Plan Expenditure
APPENDICES
Statement on Industrial Policy, National Agriculture Policy
Index