ook Description
Contributors
List Contents
Readership
About the Author(s)






List of Tables and Figures
Foreword by Bimal Jalan
Preface
Introduction and Overview by Ashima Goyal

I. STRUCTURE AND REFORM

1. Drivers of Growth: Sources and Sectors
Laveesh Bhandari and Sumita Kale
2. Political Economy of Growth
Rahul Mukherji
3. After Liberalizing Reforms: Public Policy at a Crossroads
Pulapre Balakrishnan

II. THE MACROECONOMY

4. Inflation in India: Trends and Determinants
Deepak Mohanty
5. Fiscal and Monetary Policy: Outcomes and Coordination
Romar Correa
6. Monetary Policy Transmission in India: Interplay of Rate and Quantum Channels
Kanagasabapathy K., Rekha A. Bhangaonkar, and Shruti J. Pandey

III. THE OPEN ECONOMY

7. Openness and Growth in the Indian Economy
Soumyen Sikdar
8. Financial Globalization in India: Opportunity and Volatility
Renu Kohli
9. Reforms and Global Economic Integration of the Indian Economy: Emerging Patterns, Challenges, and Future Directions
Nagesh Kumar

IV. INCLUSION: EQUALITY AND OPPORTUNITY

10. Poverty and Inequality: Redesigning Intervention
Raghbendra Jha and Anurag Sharma
11. Policy Design for Food Security in India: Ensuring Stable Supplies and Economic Access
Shikha Jha and P.V. Srinivasan
12. Harnessing the Demographic Dividend in India: Can Primary Education Deliver?
Rukmini Banerji and Wilima Wadhwa
13. Health Security
Gita Sen
14. Castes, Gender, and Class: Dynamism or Stasis?
Ashwini Deshpande

V. GOVERNANCE

15. Government Taxes and Expenditures: Experience and Reform
Parthasarathi Shome
16. The Dynamics of Urban Governance in India
Abhay Pethe, Vaidehi Tandel, and Sahil Gandhi
17. Issues in Federalism and Decentralization
T.R. Raghunandan
18. Law and Regulation: Towards Social Control of Economic Activities in India
A.V. Raja and Francis Xavier Rathinam
19. The Evolving System of Corporate Governance in India
Jayati Sarkar and Subrata Sarkar

VI. INFRASTRUCTURE

20. A Governance Analysis of Transportation in India
S. Sriraman
21. Infrastructure: Source of Growth or Bottleneck?
Ram Singh and Param Jit
22. Private Participation in Power Distribution Reforms
Sidharth Sinha
23. Promoting SEZs as a Strategy of Industrialization and Lessons Learnt
Aradhna Aggarwal

VII. SECTORS

24. Agriculture in India: Performance, Challenges, and Opportunities
S. Mahendra Dev, Srijit Mishra, and Vijay Laxmi Pandey
25. New Sources of Dynamism in the Industry
Bandi Ram Prasad
26. Making Indian ICT Work for India
Rohit Prasad
27. Urban Informal Sector: Functioning, Constraints, and Mobility
Arup Mitra
28. The Unorganized Sector and Access to Finance in Rural India
Saibal Kar and Meghna Dutta

VIII. FACTORS: TECHNOLOGY, LABOUR, FINANCE

29. Innovation and Development in India: Changing Paradigms and Trajectories
K.J. Joseph and Kiran Kumar Kakarlapudi
30. Labour Market: Balancing Freedom and Protection
Rupayan Pal and Bibhas Saha
31. The Financial Sector in India: An Overview
Rajesh Chakrabarti
32 Banks: Financing the Future
T.T. Ram Mohan
33. Financial Intermediation and Economic Development:
Evidence from Bihar
Sanjay Banerji, Krishna Gangopadhyay, Prashant Gupta, and Sushanta Mallick

About the Editor and Contributors
Index

India has shown considerable dynamic change since the mid-1980s, after experiencing slower growth for much of the post-Independence period. The post-reform Indian economy has defied established economic patterns and, in the process, created a few paradoxes. In The Oxford Handbook of the Indian Economy in the 21st Century, acknowledged experts delve into the unique features of India's growth path and debate the relative importance of external factors compared to domestic reforms such as better governance.

While openness provided significant benefits, did the gradualness of the process mitigate risks or did it reduce growth? Were external shocks or poor domestic policies responsible for inflation? Were the advantages of new technology fully utilized by the country? Despite similarities with China, will critical differences force India to follow a growth path that has better balance between domestic and export demand?

These and other relevant issues are discussed in this handbook, which:

adopts a context-rich, research-based, non-ideological approach,
provides a comprehensive yet forward-looking coverage of economic issues,
includes political and social aspects and draws on policymaker and market-participant perspectives, and
brings to the fore the various aspects of India's performance that now attract global attention.

This work identifies constraints that have emerged in India's growth prospects, and highlights policies, institutions, and incentives that have worked and offer a promise for the future.