1. Economic Growth and India's Future?
- Author:
- Joydeep Mukherji
- Publication Date:
- 03-2006
- Content Type:
- Working Paper
- Institution:
- Center for the Advanced Study of India
- Abstract:
- Recent optimism about India is based on the view that the country may finally be on a higher growth trajectory after more than a decade of halting economic reform. Spurred by a balance of payments crisis a decade ago that pushed the government of India to nearly defaulting on its foreign debt, a series of coalition governments have slowly deregulated the once most-regulated economy outside the communist world. Over the years, the government has enlarged the role of market forces, given more freedom to the private sector, and cut barriers to domestic and foreign competition. At the same time, India's state governments have gained considerable autonomy from the central government, making India into the federal state envisaged in its constitution.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- India, East Asia, and Asia