Essays on Indian Monetary and BOP Expereince

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In order to provide proper perspective on monetary theory for the reader, the first essay in the book gives an overview of monetary theory.. This essay puts in proper perspective the essays in the book which examines various dimensions of the India monetary and BOP experience . An understanding of major tensts of the monetary theory will help proper appreciation of the empirical material in the rest of the book . The second essay gives a comprehensive statistical account of trends in money supply and its determinants covering the period 1970-71 to 1987-88. India has been experiencing inflationary rise in prices since 1960 s. The third essay gives an analytical account of Indiaâ€™s inflationary experience and the next essay brings out clearly how monetization of public debt has been a major factor in growth of money supply and the consequent inflationary rise in prices. The next two essays deal with Chakravarthy Committee report on monetary system. The succedding essays deal with different dimensions of conmmercial banks credit. The next essay deals with periodically recurrency and coins with periodically problems of shortage of small denomination currency and coins followed by an essay which gives an analythical and statistical account of progress of innovative development banking in India. The last two essays deal with Indiaâ€™s balance of payments experience and the role of I.M.F., in Indiaâ€™s efforts for achieving adjustments in BOP.

ABOUT THE AUTHOR V Lakshmana Rao

Prof. V. Lakshmana Rao (b. 1940) obtained his M.A. degree in Economics in 1963 from Andhra University. He also obtained M.A. degree in Economics from Vanderbilt University, U.S.A. He was awarded Ph.d. degree by the Andhra University for his Thesis on Industrial Productivity and Entrepreneurship in Andhra Pradesh in 1977. He has been in Economics Faculty of the Andhra University since 1964. Some of the earlier books authored by him are Development Banking in India, Industrial Entrepreneurship in India, economic Growth of Andhra Pradesh, Economic Development of India and Economic Development of Andhra Pradesh. He has published more than 100 research and finaicial dailies. He attended several conferences both national as well as interntional. He has written a few books and monographs on Economics for the Telgu Akademy in Telgu. He also writes short stories and poetry in Telgu and English.