Propelling India from Socialist Stagnation to Global Power v. 2; Policy Reform - Hardcover

"Dr. Arvind Virmani's valuable research output has been captured in the two volumes making the books a comprehensive retrospect and prospect of India's economic policies and performance. "The volumes are unique in terms of both the range of subjects and the depth of analysis, and bear an imprint of remarkable intellectual integrity. "These volumes would easily stand out for their impressive scholarly analysis of a wide gamut of issues from a variety of perspectives: historical, global, institutional and political-economy dimensions of the fiscal, financial and real sectors. His insightful research output and analytical prowess are well encapsulated in these two volumes. Indeed, a good reference book for researchers and policy makers alike, from a respected scholar with a policy-making background and unflinching commitment to national interests." - Y.V. Reddy Governor, Reserve Bank of India, Mumbai "This book by Arvind Virmani, one of India's well-known economists, is an important contribution to the contemporary debate on a wide range of policy and analytical issues. In analysing India's development experi-ence, Dr. Virmani devotes considerable attention to empirical research as well as his personal experience as a policy advisor to the Government of India in the Ministry of Finance. The blend of theory, research and policy makes this book eminently worthwhile for anyone interested in India's future as a fast-growing poverty free developing country." - Bimal Jalan A distinguished economist; Member of Parliament (Rajya Sabha); formerly: Governor, Reserve Bank of India"

Together, the two volumes review the economic history of India from Independence to the current period and then go on to make forecasts about the future of the Indian economy and its role in the World. The objective is not criticism for the sake of it. Throughout the focus is on policy and institutional reforms to solve identified policy mistakes and problems. Volume II focuses on the wider and deeper economic reforms initiated in the 1990s. It outlines the reforms, analyses their effect and draws lessons for the future. Among the areas covered are governance problems and institutional reforms, the BoP crisis, FDI, indirect tax and tariff reform, food policy and savings & monetary policy.