As India moves rapidly in its journey towards inclusive and sustained development we got confronted with new issues, challenges and of course opportunities. We as a nation responded to these changes by making desired changes and modifications in our strategy and models of growth. From this perspective three different stages as follows can be marked out. Stage one gets marked out as a period of centralized planning and covered the period 1951-1991. The second period, 1991 to 2014, can be labeled as the period of liberalized planning. The final and the third stage began in 2014 and have attempted to prepare a holistic strategy to bring out a structural and institutional transformation of the economy. We have presented the different aspects of economic activity through these different stages of growth.
The distinguishing features of the book are as follows.
- Discussion in each topic is based on up-to-date facts and figures.
- The level of discussion in each topic has been fine-tuned to the requirements of the course.
- While analysis is based on latest available facts and figures, the use of long statistical tables has been avoided to the extent possible.
- Short sentences and simple language make the subject- matter in each topic both interesting and easily understandable.
- Discussion in each topic has been divided in sections and sub-section. These have been numbered in sequence in each chapter. This make for easy cross-reference.
- Questions as per the pattern of the university question paper, have been added at the end of each chapter. Also suitable hints for solution have been provided along with.
- Beginning mid-2014 the Indian Economy has entered a new era of sustainable, inclusive and rapid (or SIR) growth. The SIR growth is designed to give practical shape to new economic thinking which can be aptly described as modi economics. We have analysed this phenomenon in details. New thoughts, directions, policies, etc. are emerging fast. Our analysis would help readers to keep a track of and make an intelligent appraisal of unfolding events.
UNIT I - GROWTH AND DEVELOPMENT
UNIT II - NATIONAL INCOME
- Economic Growth and Development
UNIT III - MAJOR PROBLEMS OF INDIAN ECONOMY
- National Income: Trends and Structural Changes
UNIT IV - INDIA’S PLANNED ECONOMY
- Poverty in India
- Inequalities in Income Distribution
- Problem of Unemployment
- Population in India
UNIT V - INFRASTRUCTURE FOR DEVELOPMENT UNIT
- Era of Five Year Plans in India (1951–2014)
- Emerging New Era of the Indian Economy
UNIT VI - INDIAN AGRICULTURE
- Physical Infrastructure in India
- Social Infrastructure in India
UNIT VII - INDUSTRIAL SECTOR IN INDIA
- Agricultural Development in India
- Land Reforms and Rural Development
- Sources of Farm Credit and Marketing of Agricultural Produce
- Food Policy and Public Distribution System in India
UNIT VIII - FOREIGN TRADE
UNIT IX - PUBLIC FINANCE
- Industrial Development in India
- Industrial Policy and New Economic Policy (Liberalisation, Privatisation and Globalisation)
- Small-scale Industries in India
- Fiscal System and Policy in India
- Indian Macroeconomics Today
- Economy of Tamil Nadu