After a boom in the early twenty-first century, India witnessed a macroeconomic reversal marked by a slowdown in growth that has lasted a little longer than the boom. At the same time, a fresh criterion of governance, namely inclusion, has emerged and become a priority for the state. Written against the backdrop of these developments, the essays in this volume represent a range of perspectives and methods pertaining to the study of growth and its distribution in India.
The essays in Section I take the long view of growth in the country. They represent issues of abiding interest and provide the canvas upon which the rest of the articles may be seen as placed. Section II takes a macro view of the recent history of the economy. The essays explore the reasons for the shift from a regime of high growth and low inflation to one of low growth and high inflation, deconstruct the ‘dream run’ of the economy over 2003–08, and evaluate the United Progressive Alliance government’s performance.
Section III comprises essays that study the economy at the next level down, covering its agriculture, industry and services. Another essay reflects upon the desirable space for finance in India, a topic that has assumed some relevance after the global recession. Finally, the essays in Section IV address the emergence into the public sphere of the idea that growth must be inclusive. Accordingly, the essays here assess the extent to which recent growth has been inclusive, approaching the issue from various angles.
Assembling authoritative voices on the economy of contemporary India, this volume will be indispensable for students of economics, management, development studies and public policy. It will also prove useful to policymakers and journalists.
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