This book presents perspectives by eminent economists, social scientists and policy makers, exploring in depth the post-reform developments in India, including issues pertaining to growth and equity, issues which have been at the core of life-time work of Prof. R. Radhakrishna. The book brings out how some public policy instruments created to promote growth have turned out to be regressive, promoting inequalities and creating a highly asymmetric federalism in India. It examines the efficacy of fiscal and monetary reforms and also emphasises the need for strengthening the institutions of governance, particularly judiciary and police, in order to boost investors' confidence. It presents exercises in econometric modelling for explaining factors in growth and vetting policies, and explores the issue of governance and institutions. The book provides insights into the working of an emerging economy and a large democracy which has to strive for public acceptability of the tensions of its negotiations between equity and growth. With its depth of academic excellence and breadth of topics covered, it is a 'must read' for researchers, policy makers, industry watchers, think tanks, and NGOs.

This book presents perspectives by eminent economists, social scientists and policy makers, exploring in depth the post-reform developments in India, including issues pertaining to growth and equity, issues which have been at the core of life-time work of Prof. R. Radhakrishna. The book brings out how some public policy instruments created to promote growth have turned out to be regressive, promoting inequalities and creating a highly asymmetric federalism in India. It examines the efficacy of fiscal and monetary reforms and also emphasises the need for strengthening the institutions of governance, particularly judiciary and police, in order to boost investors’ confidence. It presents exercises in econometric modelling for explaining factors in growth and vetting policies, and explores the issue of governance and institutions.  The book provides insights into the working of an emerging economy and a large democracy which has to strive for public acceptability of the tensions of its negotiations between equity and growth. With its depth of academic excellence and breadth of topics covered, it is a ‘must read’ for researchers, policy makers, industry watchers, think tanks, and NGOs.

This book considers the remarkable transformations that have taken place in India since 1980, a period that began with the assassination of the formidable Prime Minister Indira Gandhi. Her death, and that of her son Rajiv seven years later, marked the end of the Nehru-Gandhi era. Although the country remains one of the few democracies in the developing world, many of the policies instigated by these earlier regimes have been swept away to make room for dramatic alterations in the political, economic, and social landscape. Sumit Ganguly and Rahul Mukherji, two leading political scientists of South Asia, chart these developments with particular reference to social and political mobilization, the rise of the BJP and its challenge to Nehruvian secularism, and the changes to foreign policy that, in combination with its meteoric economic development, have ensured India a significant place on the world stage. The book is intended for students and anyone interested in understanding this diverse, energetic, and youthful democracy.

This book considers the remarkable transformations that have taken place in India since 1980, a period that began with the assassination of the formidable Prime Minister Indira Gandhi. Her death, and that of her son Rajiv seven years later, marked the end of the Nehru-Gandhi era. Although the country remains one of the few democracies in the developing world, many of the policies instigated by these earlier regimes have been swept away to make room for dramatic alterations in the political, economic, and social landscape. Sumit Ganguly and Rahul Mukherji, two leading political scientists of South Asia, chart these developments with particular reference to social and political mobilization, the rise of the BJP and its challenge to Nehruvian secularism, and the changes to foreign policy that, in combination with its meteoric economic development, have ensured India a significant place on the world stage. The book is intended for students and anyone interested in understanding this diverse, energetic, and youthful democracy.

There is a general consensus that the first generation of reforms are over and to take the India economy to a higher growth trajectory, and one should move on to the second generation.

Political Economy of Reforms in India discusses the political economy of the country's growth, globalization, and welfare. It finds that the political economy of growth and globalization are intimately connected. And, the political economy of welfare, though dependent to a much greater extent on state intervention than growth, is critically dependent on the growth process. Governments and markets can both fail to deliver. Understanding the political process of economic change is critical for evolving a view about the importance of governments and markets in economic activity. This book highlights the critical importance of political economy during the course of development. Economic ideas about growth, globalization, and welfare have to traverse a political distance before citizens can benefit from economic institutions and policies. Mukherji reviews the importance of various factors that affect economic change in India and finds that the way the government, especially its technocrats, think is important for producing change.