Growth Theory and Globalisation of India

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The basic aim of economic planning in India is to bring about rapid economic growth through development of agriculture, industry, power, transport and communications and all other sectors of the economy. After the failure of Nehru-Mahalanobis model of development to deliver the goods to the people, Liberalisation, Privatization and Globalisation (LPG) model of development was introduced in 1991 by the Finance Minister, of course, the present Prime Minister, Dr. Manmohan Singh with a big bang to charter a new strategy LPG which has taken ahead Indian economy from about 3.5% Hindu rate of growth to high 9% growth in favour of a more liberal and market driven pattern of development. In this book, there are 39 papers dealing with not only the growth theory and globalization of India (both plus and minus points of the LPG) also on related topics like role of human capital, labour markets, influence of FDI in the process of globalization, globalization and women empowerment, the role of State in the LPG era, growth with corruption, comparison on the growth strategy between Indian and China and the possible economic and political integration of them in the Asian region, on the Corporate Social Responsibility, impact of globalization on socio-economic development of India, etc. All of them are exhaustive and informative. In all, it would serve as a useful volume to researchers and policy makers.

ABOUT THE AUTHOR Anil Kumar Thakur

Dr. Anil Kumar thakur, M.A. M.Ed., Ph. D., is a senior faculty member in the Post Graduate Department of Applied Economics and Commerce at College of Commerce, Patna under Magadh University. Many research scholars have obtained Ph. D. degrees under his guidance and supervision. Thakur has excelled himself in several areas of Economic Policy and Fiscal Management of the Indian Economy. He has also edited more than forty books/journals/souvenirs. Thakur is a matured organizer and architect of Indian Economic Association. He is the youngest Honorary Secretary and Treasurer of Indian Economic Association. He has founded the Economic Association of Bihar and Jharkhand and remained its Founder Secretary for more than ten years.He is a signature of Indian Economic Association and many organizations of Bihar and India. Thakur is the vanguard of young professional economists living in far-flung rural remote areas to inspire and encourage them to write articles and books.