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Macroeconomic Policy in India Since the Global Financial Crisis - Trends, Policies and Challenges in Economic Revival Post-Covid (Hardcover, 1st ed. 2022)
Loot Price: R2,976
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Macroeconomic Policy in India Since the Global Financial Crisis - Trends, Policies and Challenges in Economic Revival Post-Covid (Hardcover, 1st ed. 2022)
Series: India Studies in Business and Economics
Expected to ship within 12 - 19 working days
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This book discusses the Indian economic crisis and brings out what
went wrong and the correction necessary for getting the economy
back to high growth trajectory, leading to economic transformation.
To do so, the book covers trends in performance of Indian economy
since the Global Financial Crisis to the COVID-19 effect, bringing
out factors that have determined the same. The book questions the
approach to macroeconomic policy of both the RBI and the government
and brings out what it takes for macroeconomic policy to be
supportive of high growth. It contains revealing contrasts with
East Asia and China, although India has the same potential to grow
with an expansion of manufacturing. Overall, it argues that
macroeconomic policies (as much as structural, industrial, and
trade policies) have been deficient and even good initiatives on
the industrial policy and trade flounder for the lack of a
strategic approach to macroeconomics. The book highlights the
special opportunities present in an emerging economy with vast
under and utilised labour and the macroeconomic policy initiatives
that can take advantage of this key feature. It covers the
macroeconomic data on growth using multiple indicators, then the
external shocks and the internal policy measures/responses;
besides, GVA/GDP, credit, exports, external transactions, interest
and policy rates, yields, exchange rates, money, capital flows,
indices of industrial sector, price indices and inflation,
government expenditures, tax rates, fiscal deficits, market
uncertainty measures to present a holistic picture of the economy
and the shocks and policy actions that have followed. The book uses
an innovative method of presentation and the consistency of the
trends/stances of both monetary and fiscal policy using these large
number of variables. It discusses the debate on overestimation of
GDP/GVA growth estimates over the years from 2011-12 to about
2016-17 comprehensively. There is special coverage of GST with a
comparison with China. Coverage also includes performance since the
COVID-19 crisis again using a large number of indicators and an
explanation for the same in terms of the limitations of the
government's initiatives to counteract. The book is a quick and
ready reference of what has happened in macroeconomic terms to
those interested in the relevant facts. It is of interest to
international economists, policy analysts, and investors whose need
to understand that the Indian economy in macroeconomic terms and in
terms of the stances and penchant of the government and the RBI is
of value.
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