Indian Economy

1. A Brief overview of the historical process of development in India and the State of the Economy at Independence. Alternate Strategies of Development: State vs. market, import substitution versusexport promotion.  

2. Growth and Sectoral Performance: Aggregate GDP growth, structural change and productivity, manufacturing growth and issues relating to productivity, market structure and  economies of scale; issues relating to services-led growth. 

3. Trade and Payments Reforms in India: Contours of trade and payments reforms in India including WTO related reforms in market access, Merchandise trade performance and determinants, Dimensions of Services Trade, Capital Flows and their impact, Balance of Payments and issues related to Accumulation of Foreign Exchange Reserves, Capital Account Convertibility. 

4. Fiscal Reforms in India – Profile of Fiscal Reforms, Issues relating to deficit and growth, FRBM Act and fiscal prudence, Reforms with respect to State Finances, VAT, Issues relating to public debt. 

5. Financial Sector Reforms in India – Issues relating to reforms in banking, insurance, pensions, exchange rate and capital market.  

6. Employment, Poverty and Inequality in India – Measurement issues, Regional and sectoral dimensions in employment, poverty and inequality, Recent debates on poverty and employment during reforms, Issues relating to rural employment, livelihood security and NREGA. 

7. Issues relating to Infrastructure in the Indian economy: Identifying the constraints, Government policies, Case studies of economic impact of selected sectors including roads, energy, railways, ports, irrigation, sanitation and water supply.  

8. Agriculture: Agricultural Growth and Distribution, Agriculture Commodity Markets, Contract Farming, Technology and Agriculture, WTO and Agriculture  

Suggested Readings 

  1. Ahluwalia I. J. and I. M. D. Little (eds.). 1998. India's Economic Reforms and Development: Essays for Manmohan Singh. New Delhi: OUP.

  2. Ahluwalia, M. S., S.S. Tarapore and Y. V. Reddy. (eds.). 2004. Macroeconomics

    and Monetary Policy. New Delhi: OUP.

  3. Banerjee, N and S. Marjit. (eds.) 2005. Development, Displacement and Disparity: India in the Last Quarter of the Twentieth Century. Hyderabad: Orient Longman.

  4. Balakrishnan, P. 2010. Economic Growth in India. New Delhi: OUP.

  5. Basu, K. (ed.) 2005. India’s Emerging Economy. New Delhi: OUP.

  6. Callen, T. P. Reynolds and C. Towe. 2001. India at the Crossroads: Sustaining Growth and Reducing Poverty. Washington D.C.: International Monetary Fund.

  7. Chakravarty, R. 2006. The Financial Sector in India. New Delhi: OUP

  8. Chatterjee, B. and A. K. Karmakar (eds.). 2011. Capital Account Convertibility in India. New Delhi: Deep & Deep Publications.

  9. Government of India, MoF, Economic Survey, Various issues Gulati, A. and T. Kelley. 2001. Trade Liberalization and Indian Agriculture. New Delhi: OUP.

  10. Hanson, J. A. and S. Kathuria (eds.) 2002. India: A Financial Sector for the Twenty-fist Century. New Delhi: OUP.

  11. India Development Report various years. New Delhi: OUP.

  12. Joshi, V. and I. M. D. Little 1994. India: Macroeconomics and Political Economy, 1964-1991. New Delhi : OUP

  13. Joshi, V. and I. M. D. Little. 1996. India's Economic Reforms (1991- 2001). New Delhi: OUP.

  14. Karmakar, A. K. 2010. BoP Theory and Policy – The Indian Experience, Deep & Deep Publications, New Delhi

  15. Krueger, A.O. (ed). 2002. Economic Policy Reforms and the Indian Economy. New Delhi: OUP.

  16. Mohan, R. (ed). 2002. Facets of the India Economy. New Delhi: OUP

  17. National Human Development Report various issues. New Delhi : OUP

  18. Pushpangadan, K. and N. Shanta. 2009. The Dynamics of Competition: Understanding India’s Manufacturing Sector. New Delhi: OUP.

  19. Panagariya, A. 2008. India: The Emerging Giant. USA: OUP.

  20. Rakshit, M. 2008 a. Macroeconomics of Post-Reforms India. New Delhi: OUP. 22. Rakshit, M. 2008 b. Money and Finance in the Indian Economy. New Delhi: OUP.

  21. Radhakrishna, R. and S. Ray (eds.). 2005. Handbook of Poverty: Perspectives, Policies and Programmes. New Delhi : OUP

  22. Reddy, Y.V. 2004. Lectures on Economic and Financial Sector Reforms in India. New Delhi: OUP.

  23. Sikdar, S. 2002. Contemporary Issues in Globalization: An Introduction to Theory and Policy in India. New Delhi: OUP.

  24. Tendulkar, S. and T. A. Bhavani. 2007. Understanding Reforms. New Delhi: OUP.

  25. Vaidyanathan, A. and K. L. Krishna. 2007. Institutions and Markets in India's Development. New Delhi: OUP.

  26. Economic and Political Weekly and Other Selected Journals- Selected Issues