Indian Economy: Visions, Reality, Challenges

Public opinion and the political system in India symbolize the complex strands of idealism and selfishness, commitment and dismay, planning and bureaucracy, blame and self-justification, and overwhelming discontent that comprise current Indian economic development. Governance and people both must meet challenges of economic reforms in India to fulfill the visions of economic prosperity of country and its people. The main challenge is to provide economic and social opportunities to people by streamlining economic policies. Market forces alone cannot determine economic future. Each country determines and draws a road map for economic reforms that would be based on its own skills, resources, strengths and vulnerabilities. India needs to find ways to harness the full creative capability of its inhabitants across all industries, occupations, classes and geo regions. This would give India an advantage in the global creative economy and provide the world with a large-scale model for how development of human capabilities is the most effective route to true economic development. The success of functional economic visions lies in improving quality of human life. The involved efforts of the governance and people, economists and businesses, and efficiency in economic management are required to make the visions successful. It is significant how people and governance communicate their visions to each other. The economics of providing basic minimum needs to the people in India is a big challenge. Government and people must have ‘Reality Check’ about it if they envision economic prosperity. This book Indian Economy : Visions, Reality, Challenges evokes interest of the readers to these issues, India’s aspirations to be the dominant global player, and its emerging and surging economies, and the economics of providing basic minimum needs to its people.