List of Tables
List of Figures
List of Boxes
List of Statistical Profile
List of Abbreviations
List of Contributors
1. Overview—Accelerating Growth and Development Challenges in Short and Long Terms
S. Mahendra Dev and C. Veeramani
Introduction
Macroeconimic Performance
Sectoral Issues
Social Development and Welfare Issues
Environmental and Sustainability Issues
Way Forward for 'Good Days'
References
2. Macroeconomic Developments and Challenges for Growth
Manoj Panda
Introduction
Macroeconomic Developments
Policy Challenges for High Growth
Conclusion
References
3. External Shocks
Ashima Goyal
Introduction
The Degree of Openness
CAD: Excess Demand or External and Sectoral Shocks? Policy Failures
Reducing the Impact of External Shocks on the Exchange Rate
Exchange Rate Regime and Inflation Targeting
The Way Forward
References
4. Unravelling India's Inflation Puzzle
Pankaj Kumar and Naveen Srinivasa
Introduction
Estimating India's Potential Growth: A Time Series Approach
Evaluating the RBI's Policy Response to these Developments
Conclusion
References
5. Investment Growth Nexus: Cyclical Evidence from India
R. Krishnan and Rajendra R. Vaidya
Introduction
A Brief Literature Review
Data Sources and Behaviour of Components of Investment
Methodology: Measuring the Cyclical Component
Empirical Results
Conclusion
References
6. The Changing Face of Rural India
Shovan Ray
The Diversity of Indian Experience
Working Patterns across Sectors
Irrigated, Coastal, and Rainfed Farming Systems
Rural Livelihoods
Rise in Rural Non-farm Activities
Migrations and Their Trails
Rural Incomes, Poverty and Deprivations
Amenities of Rural Life in India
Conclusion
References
7. Dynamics of Firms' Competitive Behaviour in Indian Manufacturing Industries: 1971-2010 96
Rupayan Pal
Introduction
Policy Background
The Data
Evolution of PCM across Manufacturing Industries: 1971-2010
Econometric Evidence: Firm's Characteristics, Reforms, and Firm-level PCMs
Drivers of Industry-specific Competitive Dynamics: A Decomposition Analysis
Conclusion
References
8. Small Enterprises in Indian Manufacturing and Inclusive Growth: Search for Compensatory Mechanisms
K.V. Ramaswamy
Introduction
Role of Small Enterprises in Employment, Job Creation, and Poverty
Evolution of Size Structure and Compensatory Mechanism
Data and Defi nitions
Employment Change by Type of Enterprise: 2001-11
What Could Be Done to Boost Small Enterprises and Employment Growth?
Conclusion
References
9. Corporate Debt Market in India: Issues and Challenges
Rajeswari Sengupta and Vaibhav Anand
Introduction
Current Status of Indian Corporate Debt Market
Supply Side Issues
Analysis of the Recent Public Issuances
Recent Steps to Address Supply Side Issues
Demand Side Issues
Recent Steps to Address Demand Side Issues
Secondary Market Issues
Wholesale Debt Market (WDB)
Risk and Hedging Related Issues: CDS
Risk and Hedging Related Issues: Interest Rate Futures
Conclusion
References
10. Oil and Natural Gas Price Reforms and Its Impacts on Indian Agriculture
A. Ganesh-Kumar and Nitin Harak
Introduction
Oil and Natural Gas Sector—Some Stylized Facts
Agriculture and Its Linkages with the Oil and Natural Gas Sector
Methodology and Data
Scenario Specification
Results
Conclusion
References
11. Food Inflation in India: Implications for Food Security and Policy Options
S. Mahendra Dev, Vijay Laxmi Pandey, and Andaleeb Rehman
Introduction
Elements of Food Inflation
Persistence in Inflation
Factors Driving Food Inflation
Infl ation in Some of the Specific Commodities
Policies for Reduction in Food Inflation
References
12. Food Security in India: A Review of Current Debates
Sudha Narayanan
Introduction
The Challenge of Food Security in India
The National Food Security Act: Claims and Contestations
India and the WTO Agreement on Agriculture
Sustainable Nutritional Security
Conclusion
References
13. Health and Health Care in India: Current Scenario and New Challenges
Subrata Mukherjee
Introduction
Linkages between Health, Poverty, and Development
Health Status
Access to and Utilization of Health Care
Health Expenditure and Health Financing
Health Interventions and Programmes
Emerging Issues
Conclusion
References
14. Assessing Health Care Scenario and Willingness to Pay for Health Insurance in Slums of Mumbai and Its Periphery
Basudeb Chaudhuri, Namrata Gulati, Apara Banerjee, Ahana Roy, Imdadul Halder, and Safayet Karim
Introduction
Existing Health Insurance Schemes
Health Insurance Schemes for Maharashtra
Methodology
Main Findings from the Survey
Willingness to Pay for Health Insurance
Factors Impeding Health Insurance Affiliation
Conclusion
References
15. Bridging the Welfare Gap? Corporate Social Responsibility in India
Jayati Sarkar and Subrata Sarkar
Introduction
CSR in India—The Legal Framework
Why Corporate Social Responsibility?
Regulatory Approaches to CSR
Looking Back to Look Forward: CSR Practices of Indian Companies
Mandatory CSR: Prospects and Challenges
References
16. By Chance or Design: India's Makeover since 2001
S. Chandrasekhar
Introduction
Where does India Live?
Progress towards Development Goals
Concerns over Labour Market
Financial Inclusion
Looking Ahead
References
17. Climate Change and Its Impacts: Understanding Some Facts, Myths, and Controversies
Vinod Kumar Sharma
Introduction
Some Global Warming Facts
Climate Change Negotiations
Myths and Controversies
Stance of Developing Countries
Th e Way Forward
Conclusion
References
18. An Odyssey to Sustainability: The Urban Archipelago of India
B. Sudhakara Reddy
Prologue
Methodology
Growing Cities, Green Cities, and 'Just' Cities
Sustainability—An Elusive Goal?
The Task Ahead
References
19. Indian Transportation and Its Sustainability
Sudhakar Yedla
Indian Transportation—Th e Present Situation
Transportation and Sustainability Issues
Indian Planning and Sustainable Transport—Way Forward
References

A Statistical Profile of India's Development

According to recent estimates, India is the third largest economy in the world after USA and China in terms of purchasing power parity. More significantly, the country witnessed a major shift in political leadership when a clear mandate was provided to the BJP-led NDA coalition in the national elections in May 2014. This has empowered the new government to take bold economic decisions to meet the short- and longer-term challenges of this country.

Accelerating growth is the immediate challenge for the new government as it is expected to deliver on the economic front as well as on the social front. It has to bolster businesses as well as the common people. India, aspiring to be a global power, must promote harmonious and inclusive socio-economic development. Keeping this in mind, many crucial questions are raised: How has the economy been performing? What should be done to revive GDP growth? What is the relationship between investment and growth? How to address India's vulnerability to external crises? How to control inflation? How to achieve social and environmental goals? Providing answers to these and other such questions, this volume, the eighth in India Development Report series, examines:

• macroeconomic developments and economic growth, inflation, and
external shocks;
• investment and growth nexus;
• dynamics of a firm's competitive behaviour;
• small enterprises and the corporate debt market;
• oil and gas price reforms and agriculture, changing face of rural
areas, food inflation, and food security;
• health and health care, and health insurance; and
• corporate social responsibility, climate change, urban sustainability,
transport, and sustainable development.


The Report includes a statistical appendix, which is a treasure trove of various economic and social indicators and helps provide an independent assessment of the Indian economy.