Contents:
List of Tables x;
List of Figures xiii;
List of Boxes xv;
List of Statistical Profile xvi;
List of Abbreviations xix;
List of Contributors xxii;
1. Overview: Growth: Achievements and Distress 1;
R. Radhakrishna • S. Chandrasekhar;
Performance of the Indian Economy 1;
Emerging Indian Economy 2;
Growth and Well-being 5;
Employment 9;
Agrarian Crisis 12;
Higher Education 13;
Emerging Issues in the Financial System 14;
India in a Globalizing World 17;
Concluding observations 18;
2. Macroeconomic Overview 20;
Manoj Panda;
Introduction 20;
National Income Growth 20;
Other Macroeconomic Developments 27;
Asian Economic Integration 32;
Poverty and Distribution 34;
Conclusion 38;
3. Crisis in Agriculture and Rural Distress in Post-Reform India 40;
D. Narasimha Reddy • Srijit Mishra;
Introduction 40;
Agrarian Structure on the Eve of Economic Reforms 41;
Reforms and Impact on the Farming Community in Agriculture 41;
Rural Distress and Farmers’ Suicides 47;
Reform-led Growth, Small Peasant Adjustment Cost, and The Need for State Support 50;
4. Employment and Unemployment Since the Early 1970s 54;
T.N. Srinivasan;
Introduction 54;
Trends in Employment and Unemployment Rates 56;
Conclusions 63;
5. State of Higher Education in India 71;
S.R. Hashim;
Changing Perception about Value of Higher Education 72;
Education and Earning 74;
Household Expenditure on Education 75;
Growth of Higher Education 76;
Investment in Higher Education 79;
Using the Existing Research Infrastructure for Teaching at Higher Levels 81;
The Rural–Urban Gap in Education 83;
Summary and Conclusion 84;
6. Exploring Intra Urban Differences in Economic Well-Being in India 87;
S. Chandrasekhar • Tesfayi Gebreselassie;
Introduction 87;
Data 88;
Extent, Distribution, and Characteristics of Slum Population 89;
Heterogeneity in Slum Population 91;
Intra Urban Differences in Economic Condition of Households 92;
Conclusion 95;
7. Macroeconomic Policy and the Exchange Rate: Working Together 96;
Ashima Goyal;
Introduction 96;
India’s Changing Exchange Rate Regime 97;
Stability of Forex Markets 98;
Internal and External Balance 101;
Inflation and the Labour Market 106;
Structure, Monetary, and Fiscal Policy 109;
Conclusion 110;
8. Emerging Policy Regime for Bank Credit Delivery and Tasks Ahead: A Critical Review 112;
S.L. Shetty;
Introduction: Importance Assigned to Finance for Development 112;
Post-nationalization and Post-reform Banking Developments 113;
Micro-credit Movement in India 124;
Disappointing Ground Reality After the 1990s 126;
More decisive evidence from AIDIS and Other Field Studies 128;
New Initiatives for Expanding Credit Flow to Agriculture and Other Priority Sectors 129;
New Policy Regime for Better Credit Delivery: Tasks Ahead 131;
9. Non-Perfoming Assets in Indian Banking: Magnitude, Determinants, and Impact of Recent Policy Initiative 134;
Kausik Chaudhuri • Rudra Sensarma;
Introduction 134;
Literature Review 135;
Indian Banking System and its NPA Problem 135;
Prudential Norms and Regulatory Response to NPAs 138;
Empirical Methodology and Data 140;
Empirical Results 140;
Impact of Policy Response 142;
Policy Implications and Concluding Remarks 143;
10. India and China: Changing Patterns of Comparative Advantage? 145;
C. Veeramani;
Trade Policy Reforms 146;
Growth of Exports 147;
Structure of Exports and Changing Comparative Advantages 148;
Conclusion and Implications 155;
11. Indian Textile and Apparel Sector: Performance, Employment, and Demand 157;
G. Badri Narayanan;
Introduction 157;
Indian Textile Sector in the International Market 158;
India’s Organized Textile Sector: Performance and Employment 161;
Performance of India’s Unorganized Textile Sector 166;
Domestic Consumption of Textiles in India 172;
Conclusions 175;
12. Globalization, Employment, and Labour Market Flexibility: The Case of India 178
K.V. Ramaswamy;
The Issues 178;
Globalization and Employment 179;
Aggregate Employment 179;
Job Security Regulations: Impact on Labour Markets 180;
Empirical Studies 182;
Manufacturing Employment in India: Past Trends and the Debate 183;
Trade and Manufacturing Employment in India in the 1990s 183;
A Statistical Profile of India’s Development 189.