The course begins with an exposition of analytical foundations of economic reforms with supporting empirical observations. The main themes to be discussed are:
- The theory of economic reforms.
- Limitations of planned industrialisation and import substitution as strategies of development.
- The debt crisis of 1991 and initiation of fiscal and financial reforms and reforms in industry, trade, and agriculture.
- The impact of reforms on poverty in India.
- The unfinished agenda: reforms related to infrastructure, labour market and capital account convertibility.
Isher Judge Ahluwalia and I.M.D. Little (eds.): India�s Economic Reforms and Development, Oxford University Press, Delhi, 1998.
Jeffrey D. Sachs, A. Varshney, and N. Bajpai (eds.): India in the Era of Economic Reforms, Oxford University Press, Delhi, 1999.
Uma Kapila (ed.): Recent Development in Indian Economy Part III, The Ongoing Economic Reforms, Academic Foundation, Delhi 1994.
Deepak Lal, The Poverty of Development Economics, Harvard University Press, Cambridge, Massachusetts, 1985.