Globalised Indian Economy: Contemporary Issues and Perspectives

Since 1991 the Indian economy, like any other economy, is pulled through the pulls and pressures of globalisation. A decadel reform shows welcome changes in industrial and services sectors and worrisome problems in social sectoral shifts. Now there is a worldwide agonising appraisal to reprioritize the development initiatives. The book is a select analytical as well as critical contribution from distinguished social economists on the contemporary issues and perspectives of the globalised Indian economic dynamics presented at the 84 Annual Conference of Indian Economic Association held at Vellore in December 2001. The panel includes Professors : Arjun Sengupta, P.R. Brahmananda, V.R. Panchamukhi, C. Rangarajan, Ruddar Datt, R.S. Bawa, Subramanian Swamy, R.S. Misra, C.T. Kurien and Vedagiri Shanmugasundaram. The book is divided into four sections. Part I deals with the developmental imperatives in India against the backdrop of "development deficits" during the decade reforms period. Part II analyses the global economic dynamics with special reference to IMF, international money, trade and growth in developing areas and the impact of multinational commissions. Part III focuses on issues and concerns of economic reforms in India the challenges and opportunities of globalisation and its impact on agricultural development. Part IV gives refreshing insights into the teaching of economics in the Indian context, new strands in the global economic thought and the relevance of the Gadgilian economic policy. The role of economic trinity—WB, IMF and WTO—and their impactional syndrome on the Indian economic development are discussed in a dispassionate way and signalled alternatives to the current forms of economic globalisation. The message is clear : as a developed country, India should take advantage of both the threats and opportunities of globalisation and localization. The book provides a refreshing referral benefit to students, research scholars and teachers in socio-economic studies and, policy-makers in reorienting development programmes.