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Indian Economy Since Independence: A comprehensive and critical analysis of India's economy, 1947-2017

Kapila, Uma

978 93 327 0432 9
List price(s):
59.95 USD
26.50 GBP
32.00 EUR

Publication date:
1 January 2018

Full description: 

Praise for the silver jubilee edition: Uma Kapila's 25th edition of this well-known volume contains an excellent and up-to-date collection of essays on the Indian Economy by some of the country's leading economists, interspersed with very useful contributions by the editor herself. It will be a great boon for all students of the Indian economy...young and old. - Shankar Acharya, Chief Economic Adviser to the Government of India (1993-2001) The annual edition of Dr. Uma Kapila's Indian Economy since Independence has become a staple, annually updated, reference for University students throughout the country, for aspirants for the civil service and other examinations, and for all those interested in a single comprehensive source of information, and analysis by a galaxy of scholars, on the Indian economy. This twenty-fifth anniversary edition marks a milestone in a remarkable journey, begun in 1988 by a revered teacher of long standing from Delhi University. - Indira Rajaraman, Former Member, 13th Finance Commission and presently Member, Central Board of Reserve Bank of IndiaSharing a piece of its history...Year 1988: Upon publication of the first edition of this book, which was originally designed for students of the University of Delhi, Prof. VKRV Rao, the legendary economist, policymaker and institution builder, thus wrote in a letter addressed to the editor Uma Kapila: ...It will be a most unusual kind of textbook for pioneering which you deserve congratulations. I, therefore, send you my good wishes for the success of the publication and its use by students who do Economics Honours not only in the University of Delhi but also other universities. -V.K.R.V. Rao (1988), His wishes have since come true.

Table of contents: 

PrefaceAcknowledgementsContributorsPart IPlanning, Institutional Framework,Constraints And Role Of The State 1. Indian Economy at Independence - Uma KapilaThe Colonial Regime The India of 1947 The Agrarian Scene The State of Indian Industry and its Structure The Planning Era 2. The Economic Legacies of Colonial Rule in India: Another Look - Tirthankar RoyLinking Empire with Development: The Old Theory Linking Empires with Development: The New Trends What Kind of a State was the Raj? Benefits and Costs of Colonialism Policy and Ideology after 1947 Conclusions: Economic Legacies of Colonialism 3. Planning, Market and the State (Ed. Notes) Structural Constraints and the Development Strategy Role of the State as Visualised in the 1950s Evolution of Strategy and Priorities Changing Perceptions Role of Planning in a Market Economy Redefining the Role of State The Government, the State and the Market Relevance of Planning Commission NITI Aayog: Role and Functions 4. Economic Reforms: Looking Back and Ahead - C. RangarajanBreak with the Past The Genesis of Reforms Questions on the Reform Process 5. Fiscal and Budgetary Developments: Prospects and Reforms (Ed. Notes) Introduction Fiscal Balance and Fiscal Reform A Comprehensive Tax Reform to Promote Inclusive Growth Conclusions 6. Demography and Development (Ed. Notes) Introduction Economic Development and Population Growth The Microeconomic Theory of Fertility Population Trends Gender Equity and the Demographic Transition Population Policy since 1947 National Population Policy, 2000 Human Resource Development Public Expenditure and Education Policy Healthcare as a Social Responsibility Human Development: International Comparison Disparities and Divides Tamil Nadu: The Success Story The Future Demographic Dividend and Related Policy Interventions 7. Population Dynamics in India and Implications for Economic Growth - David E. BloomIntroduction Demographic Change and Economic Growth Review of Technical Literature India's Economic Prospects Conclusion Part II Growth And Structural Change Since 1950 8. Growth and Structural Change Since 1950 (Ed. Notes) The Performance India's Growth Turnaround Recent Growth Record Aggregate Demand Performance on Inclusiveness The Need for Faster Growth 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 9. The Recovery of India: Economic Growth in the Nehru Era - Pulapre BalakrishnanIntroduction Nehru-Mahalanobis Strategy A Record of Growth in the Nehru Era Caricature of a Vision: Through a Glass, Darkly Conclusions 10. Pressing the Indian Growth Accelerator: Policy Imperative - Rakesh Mohan and Muneesh KapurIntroduction The Indian Economy: A Story of Consistent Growth The Golden Era of Growth: 2003-2008 Consistent Growth in Savings and Investment The Great Slowdown: 2012-2014 Getting Back to High Growth: A Simulation for 2017-2032 Financing Growth Infrastructure Investment Policy Imperatives for Getting Back to the High Growth Path Public Savings and Fiscal Policy Household Savings and Management of Inflation Private Corporate Sector and Manufacturing Foreign Savings and Capital Account Management Transport Infrastructure Conclusions 11. Growth and Investment: The Interlinks - C. RangarajanBehaviour of Saving Behaviour of Investment The Way Forward 12. India on the Growth Turnpike: No State Left Behind - Arvind PanagariyaGrowth: No State Left BehindPoverty: Progress Everywhere Smaller and Newer States and Union Territories Conclusions Part III Distributional Issues: Poverty, Inequality, Malnutrition And Unemployment 13. Assessment of the Growth Experience: Poverty, Inequality and Unemployment (Ed. Notes) Poverty and Unemployment Poverty Estimates Poverty and Inclusive Growth Inequality Inequality After Economic Reforms Employment Employment, Unemployment and Labour Force Dynamics Underemployment: A Continuing Characteristic of Employment Characteristics and Structure of the Indian Labour Market Trends and Patterns of Employment Growth Summing Up: Key Features of the Employment Situation Labour Market Reforms would Help Boost Employment Creation Public Employment Programme for the Unorganised Workers: The Case of NREGA The Performance Success Stories Employment Challenges Policy Agenda 14. Report of the Expert Group to Review the Methodology for Measurement of Poverty: Executive Summary - Rangarajan Committee ReportExecutive Summary 15. Counting the Poor: Measurement and Other Issues - C. Rangarajan and S. Mahendra DevClarifications on Issues What is New? Use of Calories Multidimensional Poverty Higher Urban Poverty NAS-NSS Consumption Differences Poverty Measures in Other Countries Public Expenditure and Poverty Poverty Ratio for Eligibility under Programmes 16. Inequities in Access to Health Services in India: Caste, Class and Region - Rama Baru, Arnab Acharya, Sanghmitra Acharya, A.K. Shiva Kumar and K. NagarajDeterminants of Health InequitiesFeatures of Health Service Provisioning Inequities in Access to Health Services Factors Affecting Equity in Access to Health Services Equity Enhancing Initiatives The Way Forward 17. Labour and Employment in Fast Growing India: Issues of Employment and Inclusiveness - T.S. Papola and Alakh N. SharmaIntroduction Some Characteristics of the Indian Labour Market Trend and Pattern of Employment Growth Impact of Global Financial 2008 Crisis on Indian Labour Market and Employment Quality of Employment and Disparities Increasing Labour Flexibility and Erosion of Labour Rights Conclusion and Policy Agenda 18. India's Labour Market During the 2000s Surveying the Changes - Jayan Jose ThomasBroad Trends in Labour Absorption Explaining Jobless Growth (Second-Half of 2000s) Continuing Challenges to a Modern Labour Market Missing Women in the Indian Economy Conclusions Part IV Agriculture 19. Indian Agriculture: Developments, Issues, Policies and Agenda for Reforms (Ed. Notes) Introduction Linkages between Agriculture and Other Sectors The Institutional Context The New Technology Three Phases of Green Revolution Reform Period, 1991 to the Present


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. Detailed information on these publications is readily available at the publisher's website:




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