This edited volume documents through its 75 years post-independence, the developmental complexities, economic achievements and challenges unique to India, given its vast population and regional, cultural, and climatic diversities, with simple illustrations, making them accessible to readers with varying levels of expertise. Since gaining independence, the Indian economy has embarked on a distinctive journey, navigating through a series of economic policy experiments in diverse economic landscapes. This distinct trajectory has not only accelerated its pace of economic growth but also addressed a myriad of developmental issues, from poverty to well-being, with varied degrees of success over the years. The detailed analysis and anecdotal evidence are at the core to show how the country's experience and challenges are different from the linear model of development transition, and must be understood in their own context.
The academic papers, both theoretical and empirical, highlight the pace and patterns of sectoral dynamics since independence, unfold the issues and factors affecting development, with a particular focus on the productivity growth of the Indian economy, and showcase debates that may help planning policy for Vision@2047, the year when India would celebrate its centenary year of independence. The book contains 24 chapters divided into ten sections, covering issues related to growth strategies, productivity growth, agricultural transition, growth heterogeneity, labour, rural non-farm sector and migration, social sectors including education and environment, and debates on industrialisation and servicification – the principle features of Indian growth and development story. Given such diverse collection of chapters and discussions in them, the book will find readers across the developmental economics sphere ranging from academics to policy makers as well as industry experts.
Chapter 1. 75 Years of Growth, Development and Productivity in India - An Introduction.- Chapter 2. Sources of Growth in the Indian Economy: Looking Back at the Last 75 years since India’s Independence.- Chapter 3. Economic Growth in India, A longer view.- Chapter 4. Monetary Policy in India: A Global Perspective.- Chapter 5. Does the Productivity Growth Numbers Explain the Unbalanced Growth Experience of the Indian Economy?.- Chapter 6. Indian Agriculture through the decades: Returns and Efficiency of Resource Use.- Chapter 7. Total Factor Productivity Growth in Indian Agriculture and Regional Convergence.- Chapter 8. Rural market imperfections and land productivity in India.- Chapter 9. Service Sector Dynamics and Role in the Indian Economy.- Chapter 10. Service Sector Growth Perspective: Recapitulations and Reflections.- Chapter 11. Regional Growth Dynamics in India since Independence.- Chapter 12. Club convergence in growth and financial development: evidence from Indian state.- Chapter 13. Development and Change in Services Sector of India: The Drivers and the Users.- Chapter 14. The status of Self-employed and Casual Workers in India.- Chapter 15. Rural Non-Farm Sector: Development Perspective.- Chapter 16. Changing Dynamics of Internal Migration in India.- Chapter 17. International Finance: Missing Link in Theory and Practice.- Chapter 18. Mapping Skill, Innovation, and Education in Determining Social Capital.- Chapter 19. Economic Impact of Global Warming in India: An Updated Review of Methods, Policies, and Recent Empirical Literature.- Chapter 20. National Accounts and Productivity Measurement : Challenges in Time series Analysis.- Chapter 21. 75 Years of India’s Industrial Policy and Performance and Prospects for a Manufacturing-led Transformation.- Chapter 22. International Trade and Uneven Gains What do theory and structure of India’s foreign trade tell us?.- Chapter 23. Trade, FDI and Growth : Policies, Trends, Patterns and Econometric Evidence from India.- Chapter 24. Assessing the Productivity of Indian Ports.
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