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India's Economic Reforms
Edited by : UMA KAPILA;
Hard bound book;  Pages : 308
1998 Edition; ISBN - 81-7188-111-4
Price : Rs. 495.00 ; USD $ 45.00
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1. Editor’s introduction
Uma Kapila
Reader in the Department of Economics, Miranda House, University of Delhi
  • Economic Reforms: Rationale and Assessment
  • Economic Reforms in the Context of Globalisation
  • Lessons from China
  • Financial Sector Reforms
  • Agricultural Strategy and Economic Reforms
  • Employment Situation
  • Tenth Finance Commission
  • Public Sector Commercial Banks and Financial Sector Reform
  • Reforms in the Insurance Sector
2. India’s Economic Reforms
T.N. Srinivasan
Prof., Economic Growth Center, Yale University, U.S.A.
Jagdish Bhagwati
Prof., International Economics Research Center, Columbia University, New York, U.S.A.
  • India at Crossroads
  • Rationale for Reforms
  • Designing and Implementing Reforms
  • The Need for Clear and Repeated Affirmation of Reforms
  • The Need for Momentum
  • The Need for Comprehensiveness
  • The Speed of Reforms
  • The Need for Institutional Change
  • Meeting Expectations
  • Macroeconomic Reforms
  • The Macroeconomic Crisis
  • The Fiscal Deficit and Remedial Action
  • Are We Borrowing Too Much?
  • Institutional Changes to Accompany Trade Liberalisation
  • Direct Foreign Investment
  • Public Sector Enterprises
  • Privatisation and Competition
  • Infrastructure
  • Financial Sector Reform
  • Agriculture
  • Foreign Trade in Agricultural Goods
  • The Public Distribution System
  • Subsidies on Agricultural Inputs
  • Agricultural Credit
  • Trading Choices
  • Supporting the GATT
  • Regionalism: India’s Options
3. An Interim Assessment of Economic Reforms In India
P.N. Dhar
Prof. Emeritus; Formerly Chairman, Institute of Economic Growth, Delhi; Asstt. Secretary General at the United Nations
  • Need for Reforms
  • Policy Excesses
  • Politics of Economic Policies
  • The beginning of Reforms
  • Reforms Slow Down
  • Financial Crisis 
  • Resumption of Reforms
  • Current Phase of Reforms
  • Next Phase of Reforms
  • Debt Problem
  • Financial Stabilisation Programme
  • Beginning of Tax Reforms
  • Agricultural Development
  • Subsidies and Consensus
  • Disinvestment by Public Sector Units
  • Globalised Economy: Much Ado about Sovereignty
  • External Debt of India
4. Economic Reforms in India
Manmohan Singh
Former Union Minister of Finance, Government of India, New Delhi
  • The Imperative of Economic Reforms
  • Foundations for Sustained Economic Growth in India
5. The Indian Economy at Crossroads : Illusions and Realities
Deepak Nayyar
Prof., Jawaharlal Nehru University (J.N.U), New Delhi and Formerly, Chief Economic Advisor, Ministry of Finance, Govt. of India
  • The Crisis in the Economy
  • The Strategy of the Government
  • Problems of Adjustment and Transition
  • The Evidence on Stabilisation
  • The Medium Term Prospects
  • The Underlying Assumptions
6. Economic Reforms in India in the Context of Emerging Global Economy
C.T. Kurien
Director, Madras Institute of Development Studies
  • The Nature of Global Economy
  • Developments in the World Economy
  • India’s Economic Reforms in the Global Context
7. Economic Liberalisation: Lessons from China
Isher Judge Ahluwalia
Research Prof., Center for Policy Research, New Delhi
  • Role of Foreign Investment
  • High Degree of Provincial Autonomy
  • Emphasis on Change
  • Emerging Problems in China 
  • High Inflation
  • Trade Deficit
  • Reform of State-owned Enterprises
  • Bureaucracy and Corruption
8. Banking Sector Reforms
C. Rangarajan
Governor, Research Bank of India, Bombay
  • Assessment of Indian Banking System
  • External Constraints
  • Structural Reform of the Banking System
9. Reforming the Financial Sector
R.N. Malhotra
Ex-Governor, Reserve Bank of India, Bombay; Chairman, ICRIER, New Delhi
  • Major Deficiencies
  • Banking Reforms
  • Progress
10. Indian Agriculture: Emerging Perspectives and Policy Issues
C.H. Hanumantha Rao
Ex-Member, Finance Commission and Planning Commission, Govt. of India; Ex-Director, Institute of Economic Growth, Delhi
Ashok Gulati
Director, National Council of Applied Economic Research, New Delhi
  • Changes and their Likely Impact on Agriculture
  • Emerging Perspectives
  • Goals of Agricultural Policy: Growth, Efficiency, Equity, Sustainability
  • Agricultural Performance: Growth, Investment and Productivity
  • Prime Movers of Growth
  • Development and Diffusion of Technology
  • Irrigation
  • Fertilisers
  • Strategies for Unfavourable Agroclimatic Regions
  • Infrastructure 
  • Institutional Reforms
  • Credit Reforms
  • Agrarian Reforms
  • Participation of Women
  • Poverty Alleviation
11. Employment Situation: Some Emerging Perspectives
A. Vaidyanathan
Prof., Madras Institute of Development Studies; Ex-Member, Planning Commission, Govt. of India
  • Changes in Level and Structure of Employment
  • Factors in Growth of Rural Non-Farm Employment
  • Wage Rates
  • Educated Employment
12. Tenth Finance Commission Report : 1995-2000
  • Framework and Approach
  • Centre and State Finances: An Analytical Overview
  • Macro-economic Stabilisation and Structural Reforms
  • Devolution: An Alternative Scheme
  • Revenues from Major Central Taxes: Growth Rates
  • Share of States in Aggregate Central Tax Revenues
  • Fiscal Discipline
  • Reform of the Tax System
  • Planning Process and Institutional Reforms
  • Decentralisation
  • Summary of Recommendations
  • Income Tax
  • Union Excise Duties
  • Additional Excise Duties
  • Grants-in-lieu of Tax on Railway Passenger Fares 
  • Upgradation Grants
  • Financing of Relief Expenditure
  • Grants for Local Bodies
  • Grants-in-Aid; Debt Relief
  • Monitoring of Maintenance Expenditure
  • Finance Commission Division
13. Public Sector Commercial Banks and Financial Sector Reforms
  • The Financial Condition of the Banks
  • Pre-emption of Bank Resources
  • Priority Sector Lending
  • Decline in Credit Quality
  • Under-capitalisation
  • Financial Position Revealed By New Norms
  • Financial Strengthening of the Banks 
  • Changes in Financial Policies 
  • Recapitalisation
  • Improving Loan Recovery
  • Improving Profitability 
  • Managerial and Institutional Strengthening; Corporate Recovery Strategies
  • Policies for Improved Risk Management
  • Internal Control Systems
  • Technology; Customer Service
  • Human Resource Issues
  • Organisational Culture and Decision-making
  • Supervision of Banks
  • Competition from Private and Foreign Banks
  • The Role of Government and the Reserve Bank of India
14. Tax Reforms Committee's Final Report (Part II)
  • Basic Considerations Relating to Import Duty Reduction
  • The Objectives
  • Degree of Protection in 1992-93 as Compared to that in 1986-87
  • The Structure of Duties · Anti-dumping
  • Levy of Surcharge
  • Advance Licensing for Exporters
15. Insurance Sector Reforms
  • Restructuring of the Insurance Industry
  • Life Insurance
  • General Insurance
  • Liberalisation of the Insurance Industry
16. Disinvestment: Strategies and Issues
C. Rangarajan
Governor, Research Bank of India, Bombay
  • Why Disinvestment
  • How much of Disinvestment
  • How to Disinvest
17. Exim Policy 1997-2002
  • General Provisions Regarding Exports and Imports
  • Export Promotion Capital Goods Scheme


Uma Kapila

Uma Kapila is Reader in the Department of Economics, Miranda House, University of Delhi. she has been a keen student of current Indian economic problems and has been teaching this subject to undergraduate and post-graduate student of the last forty years. 
As a teacher-fellow at the center for advanced studies, Delhi School of Economics (1976-79), Mrs. Kapila completed her Ph.D. on " Oilseeds Economy of India. " she has also served on the Planning Commission Study Group on " Agricultural Strategies in the Eastern Region of India for the seventh Five Year Plan" (Perspective planning Division). 
Dr. (Mrs.) Uma Kapila is the author of the book "Oilseeds Economy of India" (1982) published by the Institute of Economic Growth under their series " Studies in Economic Development and Planning". She is the editor of the widely read book entitled "Indian Economy Since Independence", currently into its eleventh edition. She also edited five volume on Indian Economy entitled Recent Development in India Economy with special reference to Structural Reforms. She is, presently, Co-edited with Mr. Raj Kapila, book series on economic developments and on banking and financial sectors developments.

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