The economic growth and structural changes in India since independence have been transformative. However, three questions about Indian economic development puzzle thinkers: 1) Why, despite a persistent policy and intellectual concern with poverty, has India’s record on this score been modest, especially with regard to human capital indicators? 2) Why has India managed reasonably sound macroeconomic policies, in sharp contrast to its microeconomic inefficiencies? And, 3) What explains India’s modest growth in the early decades after independence, under good governance, but much more rapid rates of growth in recent decades even as corruption has mushroomed? Answering these questions requires a careful analysis of the key drivers and critical junctures that led to changes in economic policies and their consequences for growth and distribution. The Indian State’s foremost challenge is strengthening public institutions and governance.
— Suggested Readings
Basu, Kaushik and Annemie Maertens (eds.) (2012). The New Oxford Companion to Economics in India. New Delhi: Oxford University Press. [PDF 750KB]
Boo, Katherine. (2012). Behind the Beautiful Forevers: Life, Death, and Hope in a Mumbai Undercity. New York: Random House.
Jaya, Neeraja. and Pratap Mehta (eds.) (2010). A Handbook of Indian Politics. New Delhi: Oxford University Press.
Kohli, Atul. (2012). Poverty Amid Plenty in the New India. Cambridge: Cambridge University Press.
Mazumdar, Dipak, and Sandip Sarkar. (2008). Globalization, labor markets and inequality in India. London: Routledge. (Résumé en français disponible ici)
Panagariya, Arvind. (2008). India: The Emerging Giant. New York: Oxford University Press. [PDF 1.7MB]
Veena, J. (2013). India Emerging: The Reality Checks. IDRC