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Bimal Jalan’s formidable analysis of the last four decades of India’s economic journey illuminates the nation’s transition from a strictly regulated, slow-growth state enterprise to one of the fastest-growing economies in the world. Dr Jalan has had a ringside view of financial governance during his long and distinguished career, which included stints as Union Finance Secretary and Governor of the Reserve Bank of India. Drawing on this vast ...
As India marks the twenty-year milestone of economic liberalization, some concerns about the country’s future prospects as an emerging power are beginning to be voiced; often, these stem from the past history of sharp swings in India’s fortunes. Bimal Jalan, one of the country’s well-known economists and former Governor of the Reserve Bank of India, has closely followed the path of India’s economic policies across its changing ...
In August 1990, India’s fragile economy was plunged into a crisis by the adverse impact of the conflict in the gulf. For the next ten months, the economy teetered on the brink of collapse as the country passed through two changes of government and a general election. The worst was soon over, but the policy reforms initiated by the government led to an intense public debate about the country’s economic future. The Indian Economy Problems and Prospects, first ...
As Recently as a decade ago, the prospect of India becoming a developed country and time soon seemed a distant possibility. Since then, however, there has been a sea change in our own and the world’s perception about our future. What explains this rising tide of optimism? And how far is it justified? In The Future of India: Politics, Economics and Governance, Bimal Jalan, former governor of the Reserve Bank of India, takes up the formidable challenge of ...
This volume of collected essays covers a variety of subjects - ranging from banking and finance to science and development. The common thread that binds the diversity of the topics is India's past record and present policies in the macro, micro and meso economic spheres. Without being apologetic about India's past records, these essays probe into the analytics of some select areas in policy-making in the Indian economy. The first essay in the volume flags the ...