India's Economy: Pre-liberalisation to GST: Essays in Honour of Raj Kapila

India's economy has transformed from a colonially subjugated economy to the fastest-growing major economy, but the coming decade is crucial for its future. This edited volume in honor of Raj Kapila addresses a wide array of issues confronting India's economy, emphasizing the need for a development process that is just, humane, inclusive, sustainable, poverty-reducing, and environment-friendly.

Format: Hardback
Length: 738 pages
Publication date: 30 June 2023
Publisher: Academic Foundation

The year 2017 marks a significant milestone in India's history, commemorating the 70th year of its independence. It is a remarkable achievement that the country has transitioned from a colonially subjugated economy to the fastest growing major economy in the world. This transformation is truly impressive and worthy of praise. However, the coming decade holds immense importance for India's future. As we look ahead, it is crucial to envision the economic roadmap that will guide the nation toward prosperity and growth.

Several critical questions need to be addressed and carefully considered. Firstly, how can India continue to sustain its impressive economic growth while ensuring social welfare and reducing poverty? Secondly, how can the country address the challenges of urbanization, infrastructure development, and environmental sustainability? Thirdly, what role can innovation and technology play in driving economic growth and creating job opportunities?

To address these challenges, this edited volume in honor of Raj Kapila brings together contributions from a diverse group of eminent economists and policymakers. The papers in this volume explore a wide range of issues confronting India's economy, highlighting the need for a holistic and inclusive approach. A common thread that runs through all the contributions is the emphasis on ensuring that India's development process is just, humane, inclusive, sustainable, poverty-reducing, and environment-friendly.

One of the key themes explored in the volume is the role of government policies in shaping India's economic trajectory. The papers discuss the need for proactive government intervention to promote inclusive growth, address social inequalities, and create a conducive environment for business and investment. The authors argue that a well-designed and implemented policy framework can unlock the full potential of India's economy and lead to sustained growth and development.

Another important theme is the role of infrastructure development in driving economic growth. The papers highlight the need for investment in infrastructure such as transportation, energy, and telecommunications to support the growth of industries and improve the quality of life for citizens. The authors emphasize the importance of public-private partnerships and innovative financing mechanisms to ensure the efficient and sustainable development of infrastructure.

In addition to government policies and infrastructure development, the volume also explores the role of innovation and technology in driving economic growth. The papers discuss the need for India to embrace technology and innovation to improve its productivity, competitiveness, and ability to adapt to changing global market conditions. The authors highlight the importance of promoting research and development, encouraging entrepreneurship, and fostering a culture of innovation in the country.

Furthermore, the volume addresses the challenges of urbanization and rural development in India. The papers discuss the need for inclusive urbanization, which ensures that the benefits of economic growth are shared by all segments of society. The authors emphasize the importance of providing access to basic services, affordable housing, and quality education in urban areas to ensure that urban residents can lead fulfilling lives.

Similarly, the papers discuss the need for rural development, which addresses the economic and social challenges faced by rural communities. The authors emphasize the importance of promoting agricultural productivity, improving access to credit and markets, and creating job opportunities in rural areas to reduce rural-urban migration and improve the quality of life in rural communities.

In conclusion, the year 2017 marks the 70th year of India's independence, and the coming decade holds immense importance for the nation's economic growth and development. This edited volume in honor of Raj Kapila provides valuable insights and perspectives on the challenges and opportunities facing India's economy. The papers in this volume emphasize the need for a holistic and inclusive approach to development, which ensures that the benefits of economic growth are shared by all segments of society. By addressing the critical questions outlined society and considering the recommendations presented in this volume, India can position itself as a global leader and achieve sustainable and inclusive growth for all its citizens.

Weight: 525g
Dimension: 229 x 152 (mm)
ISBN-13: 9789332704312