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Inclusive Growth   
Inclusive Growth 
Development Perspectives in Indian Economy

N. A. Mujumdar

Hard Bound Book (5¾" x 8¾") :   Pages : 200
2007  Edition   :   ISBN -81-7188-629-9
Price : Rs. 595.00 ;  US $ 39.95
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Authored by the distinguished economist N.A. Mujumdar, the bunch of 19 papers brought together in this book seeks to argue that in the present Indian context, inclusive growth has become both, a growth and a development imperative: growth, because a high GDP growth like 8 or 9 per cent can be sustained only if other sectors or segments of the economy, which have been sluggish because of number of factors including policy neglect, can be activated; development, because this is perhaps the best route by which the bulk of the poor can be provided with livelihood and food security.

Facilitating inclusive growth is a far more complicated process, involving micro planning, evolving area specific solutions and participation of a number of actors panchayati raj institutions, central and state Governments and NGOs, SHGs, etc. Inclusive growth also demands a committed bureaucracy and more imaginative policymakers, from both of whom a pro-active role is warranted. The exploratory work embodied in this book, it is hoped, would provoke further studies on the subject.


Dr. N.A. Mujumdar is former Principal Adviser, Reserve Bank of India. At present, he is the Editor of the Indian Journal of Agricultural Economics and also Honorary Professor at the Society for Development Studies.

Dr. Mujumdar began his career as Lecturer in what was then known as the School of Economics, University of Bombay. He was Nuffield Fellow of Oxford University, Oxford in 1959, and after his return to India, joined the Reserve Bank of India.

The author has also worked, under the auspices of the International Monetary Fund, as Adviser to the Central Banks of five countries: Zambia, Mauritius, Tanzania, Belize and Cambodia. He was member of various Working Groups appointed by the Reserve Bank of India and the Planning Commission.

He has published ten books and a number of research papers in various technical journals. Among his recent books are: Economic Reforms Sans Development (2004) and Indian Agriculture in the New Millennium (a set of 2 volumes co-edited with Uma Kapila, 2006), both published by Academic Foundation, New Delhi.



Part I
Risk Philosophy and Rural Credit

1. Risks, Uncertainties and Rural Credit in Indian Agriculture

Part II
Agriculture and Inclusive Growth

2. Centrality of Agriculture to India’s Economic Development

3. The Unaddressed Agenda of Development

4. Redefining the Approach to Poverty Reduction and Development

5. First Principles of Foodgrains Management

6. Redrafting the Agenda for Agricultural Development

7. Watershed Development: Mother of All Water Management Modes

8. Rural Employment: Beyond Monetary and Fiscal Arithmetic

9. Millennium Development Goals and Development Policies

10. Unequal Partners in Development

Part III
Banking and Finance

11. The Rising Rupee and the Forex Reserves

12. Two Faces of Banking Sector Reforms

13. Monetary Policy: January 2006: Containing Inflationary Forces

14. The Budget for 2006-07 and the Bankers

15. Monetary Policy: April 2006: Forewarning Hardening of Interest Rates

16. Credit Policies and Financial Inclusion

Part IV
Development Perspectives

17. CEO Salaries: Don’t Bank on Peanut-Monkey Logic

18. Delusions of Grandeur

19. Investing in Education? Yes, But What Sort of Education?


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