Public Economics In IndiaTheory And Practice


Book Description

Traditionally The Term Public Finance Has Been Applied To The Package Of Those Policies And Operations Which Involve The Use Of Tax And Expenditure Measures, While Budgetary Policy Is An Important Part To Understand The Basic Problems Of Use Of Resources, Distribution Of Income, Etc. There Is A Vast Array Of Fiscal Institutions Tax Systems, Expenditure Programmes, Budgetary Procedures, Stabilization Instruments, Public Debt Policies, Level Of Government, Etc., Which Raise A Spectrum Of Issues Arising From The Operation Of These Institutions. Further, The Existence Of Externalities, Concern For Adjustment In The Distribution Of Income And Wealth, Removal Of Poverty, Etc., Require Political Process For Their Solutions In A Manner Which Combines Individual Freedom And Justice. The Problem Of Allocation Of Resources Between Public Goods And Private Goods Is A Perennial Problem. Then In A Democracy There Is A Political Process Of Voting To Decide About The Budgetary Policy To Be Adopted. Therefore, Now More Attention Is Paid To A Wider Coverage Of Government Activities Relating To Financial Aspects And The Subject Is Known As Public Economics .The Present Book Is An Excellent Presentation Of Fiscal Institutions And A Careful Analysis Of The Issues Underlining Budgetary Policies In General And Indian Experience In Particular. Based On The Curriculum Prescribed By The University Grants Commission (Ugc), It Ideally Caters To The Academic Needs Of Postgraduate Students Of Public Economics. Apart From The Traditional Topics Of Public Finance, I.E. Taxation, Public Expenditure, Public Debt, Fiscal Policy, Federalism, Etc., The Book Contains Chapters On Public Sector Vs. Private Sector, Theory Of Public Choice And Changing Perspective About The Role Of The Government. Special Focus Of The Book Is On Indian Public Finances Including The Fiscal Crisis Of 1991 And Fiscal Sector Reforms.




Public Economics in India


Book Description




Agricultural Growth and Rural Poverty Reduction in India


Book Description

This book provides a blueprint for the allocation of public expenditures “in” and “for” agriculture at the dis-aggregated state level and suggests a reorientation in favour of disadvantaged regions where the marginal returns on additional investments would be higher. It provides insights into the inter-linkages between public expenditures, private investment, rural poverty, and agriculture productivity from a regional perspective to reflect upon spatial differences in the welfare effects of various investments, subsidies, and policies. The book focuses on agricultural growth and rural poverty reduction through public and private investments, non-farm employment, and other pathways to the formulation of appropriate policies at the dis-aggregated state level. It presents new evidence based on advanced econometric tools for analysing and understanding the relationship between public and private investments in agriculture and input subsidies (fertilizer, power, irrigation, and credit) together with their impacts at the dis-aggregated state level. The book also deliberates on an income based direct support system for farmers as an alternative to the existing input price subsidy regime. Accordingly, the book offers valuable insights not only for researchers working on poverty alleviation, rural economy, and agricultural growth, but also for policymakers.




Public Finance


Book Description

Public Finance Is A Study Of Collection Of Revenue From The Public By The Government And Spending It For The Welfare Of Society. Although An Important Part Of Economics, Public Finance, As A Science Is Older Than Economics Itself. Actually, It Was The Forerunner Of Science To Which It Is Now Subordinate. The Writings Of Cameralists Dealt More Fully With This Part Of The Field Of Political Economy Than With Any Other.During The Last Two Decades Or So, Every Branch Of Economics Has Undergone Considerable Change Under The Impact Of Keynesian New Economics. Realising This, Many Foreign Writers Have Attempted To Recast Public Finance Theory By Incorporating Keynesian Analysis. Indian Writers, However, Have, By And Large, Modeled Their Treatment Of The Subject On The Once Famous But Now Largely Out Of Date Dalton S Public Finance.This Book, In 2 Volumes, Brings To Light The Changes That Have Come About And Comprehensively Covers Various Aspects Of Public Finance Theory, Revenue, Debt And Expenditure. Construction Of Chapters And Enlisting Of Questions Have Been Done After Making A Wide Analysis Of The Syllabi Prescribed For The Subject In Various Indian Universities, Following The Pattern Of Questions Asked In Different Examinations. The Text Has Been Supplemented With Tables And Figures Which Have Been Updated From Authentic Sources. Opinions Of Established Economists And Erudite Scholars Have Been Cited In Each Major Topic Relating To Public Finance To Substantiate The Text. Every Effort Has Been Made To Keep The Style Lucid And The Approach Analytical.The Book Caters To The Academic Needs Of The Postgraduate, Graduate And Undergraduate Students Of Economics. It Is Equally Useful For Those Pursuing Mba And M.Com. Courses. In Addition, The Aspiring Candidates For Various Competitive Examinations Will Find This Book Highly Useful. It Will Prove An Ideal Reference Book For Teachers And Researchers.




Indian Economy


Book Description

At The Time Of Attainment Of Independence, The Indian Economy Was In A Bad Shape. Centuries Of Exploitative Rule By The British Had Drained India Of Its Wealth. The Realization Of The Need For Resurrecting The Indian Economy Had Dawned Upon Our Leaders Even Before Independence. The National Planning Committee (Npc) Was Constituted In 1938 To Study Various Aspects Of Economic Development. After Independence, The Planning Commission Was Set Up In 1950 To Assess The Country S Needs For Material Capital And Formulate Economic Plans.During The Initial Years Of Planning Major Thrust Was To Develop Heavy And Basic Industries To Reduce The Country S Dependence On Import Of Machinery And Equipment, And Initiate Self-Sustained Long-Term Growth. The Progress Under The Nehru-Mahalanobis Model Of Growth Which Continued Upto The 1980S Was Slow. The 1990S Saw Major Shifts In Economic Policies With The Introduction Of Privatization And Liberalization In The Form Of Industrial Delicensing And Opening Up Of Indian Economy To International Trade. The Economic Reforms, Together With The Adoption Of New Technologies And Building Up Of Infrastructure, Have Led To A High Annual Gdp Growth Rate Of Over Eight Per Cent For The Last Three Years. Nearly All Economic Indicators Are In The Positive Zone.Paradoxically, However, The Country Is Experiencing Shortages In Amenities, Infrastructure And Essential Services. The Basic Objectives Of Alleviation Of Poverty, Generation Of Adequate Employment Opportunities And Removal Of Inequalities Of Income And Wealth Have Not Been Realized. Growth Is, By And Large, Confined To Our Urban Areas.The Book Studies The Structure And Features Of Indian Economy And Analyses All The Important Issues Relating Thereto. It Includes Latest Facts And Figures. It Will Be Useful To The Economists, Government Executives, Parliamentarians And Legislators To Frame Effective Policies. The Coverage And Treatment Of The Subject Will Immensely Help Students Of Economics And The Aspiring Candidates Of Various Competitive Examinations.




Special Economic Zones


Book Description

Special Economic Zones Are Specially Delineated Duty-Free Enclaves Deemed To Be Foreign Territories For The Purposes Of Trade Operations, Duties And Tariffs. Sezs Include Development Of Roads, Airports, Ports, Telecom, Generation And Distribution Of Power, Construction Of Industrial/Commercial/Residential Complexes, Etc.Encouraged By The Phenomenal Success Of Sezs Of People S Republic Of China Which First Used This Model As A Measure To Attract Foreign Capital, Technology And Managerial Expertise The Indian Government Announced In The Exim Policy Of March 2000, A Scheme For Setting Up Sezs In The Country. The Special Economic Zones Act, Which Was Enacted Subsequently In The Year 2005, Has Been Subject To Much Debate And Discussion. From Politicians To Businessmen, From Journalists To Social Activists All Have Expressed Different Views Thereon. While Some Have Hailed It As A New Mantra For Export-Oriented Economic Activity, Others Have Criticized It For Giving Excessive Tax And Tariff Concessions To Sez Developers. The Government Is Keen To Promote The Establishment Of These Large, Self-Contained Areas, Supported By World-Class Infrastructure, Oriented Towards Export Promotion.The Present Book Special Economic Zones: Issues, Laws And Procedures, In Two Volumes, Studies In Detail The Various Aspects Of Policy Relating To Sezs. Different Problems Relating To People S Apprehensions About These Models Of Growth Displacement Of A Large Number Of Landowners, Environmental Pollution Likely To Be Caused By Huge Industrial Units Being Set Up In The Sezs, The Inter-Ministerial Differences Over The Issue Of Unprecedented Concessions, Incentives And Sops Being Given To The Developers, Etc. Have Been Discussed In The Four Analytical Articles Written By Economic Experts, Making Valuable Suggestions. Besides Articles By Erudite Experts, The Book Contains Documents Relating To Sezs In Matters Like Foreign Trade Policy; Income Tax, Central Sales Tax, Customs Duty; Circulars And Orders Of Related Ministries, Government Departments And Reserve Bank Of India; And Laws And Subsequent Amendments Concerning Sez Policy Of The Government. The Book Includes The Land Acquisition Act, 1894; National Policy For Resettlement And Rehabilitation Of Project Affected Families, 2003; National Rehabilitation Policy, 2006 And Resettlement & Rehabilitation Policy (Nhpc), 2007. Also Given In This Book Are Documents Containing The Policy Framework Of States.Such Wide Coverage Makes This Book A Unique Treatise On Special Economic Zones. It Will Prove Highly Useful For Mncs, Sez Developers, Policymakers, Lawyers, Businessmen And Students. The General Readers Will Also Find It Interesting And Informative.




Studies in Indian Economy


Book Description

India S Economy, Which For Decades Was Stuck With The So-Called Hindu Rate Of Growth Around 3 Per Cent, Has Hit The 9 Per Cent Mark For The Last Two Consecutive Years. Leading Economists Hold That The Growth Can Be Sustained In The Coming Years If The Government Can Put In Place More Reforms And Implement Them. There Is No Denying The Fact That The Initiatives Taken In The Early 1990S Continue To Reap The Rewards And Have Enabled India To Become The Fourth Largest Gdp In The World In Terms Of Purchasing Power. The Policy-Driven Reforms Have Taken Our Country From The Third World Status To One That Plays A Part, Albeit Small, In Defining The Fate Of The Global Economy. The Country Is In The Midst Of A Great Transformation, Almost Epochal In Scope. Everything Is Positive In The Economy Today Manufacturing Is Resurgent, Services Going Strong, Revenue Collection Buoyant, Export Jumping 37.3 Per Cent, Foreign Investment Flows Strong And No Overheating Of The Economy. There Is A New Sense Of Optimism And A Willingness To Take Risk And Think Big Among The Business Tycoons. Simply Put, Indians Can Get Ready To Uncork The Bubbly To Celebrate Unprecedented Growth In The Coming Years.The Rapid Growing Economy, However, Brings Its Own Share Of Problems. Agriculture Is Not Keeping Pace With The Overall Buoyancy And There Has Been A Rise In Inflation Rate. Besides, Poor Infrastructure, Antiquated Labour Laws, Low Quality Education For All Except The Elites, Dismal Health Services, And Widening Of Rural Urban Disparities Are Only Few Of The Many Constraints Which India Cannot Afford To Overlook.In Economy Some Legs March In The Wrong Direction, Some In The Right One. But If There Are More Right-Moving Legs, They Can Negate The Wrong Ones And Move The Economy In Their Direction. The Present Book Seeks To Suggest The Right Initiatives And Reforms Through Its Articles And Speeches Contributed By Eminent Economists. It Emphasises That In The Present Scenario Reform Should Focus On Four Areas Concerted Efforts To Bring About Second Green Revolution, Measured Strategies To Deregulate Priority Industries, Substantial Push For Infrastructural Development, And Strong Encouragement Of Manufacturing Alongside Knowledge-Based Services. Such Measures Will Undoubtedly Ensure Inclusive Growth In The Country And Enable The Gdp Growth Not Only To Reach But Even To Sustain The Magical Double-Digit Figures As Projected By Many Economists. The Book Aims At Acquainting Readers With The Economic Scenario In India In Its True Spirit On One Hand And Suggests Effective Measures To Meet The Challenges Ahead On The Other.It Is Hoped That The Book Will Be Found Highly Useful By The Researchers And Students Of Economics; Government Executives, Parliamentarians And Legislators Concerned With The Formulation And Execution Of Economic Policies; And The General Readers Keen To Know In Depth The Present State Of Indian Economy And The Challenges Ahead.




The Changing Face of Indian Economy


Book Description

The Indian Economy Is Undoubtedly On The Fulcrum Of An Ever-Increasing Growth Curve. Long Criticised For Nurturing An Inward Looking Economy, The Country S Impressive Gdp Growth Of 9.2 Per Cent During The Financial Year 2006 07 And 8.4 Per Cent In 2005-06 Has Led The Experts Of Globalisation Forecast That By The Next Thirty Years India S Economy Could Be Larger Than All But Those Of The United States And China. Thus, India Has Not Only Been Able To Discard Its Image As The Tortoise Of The Region But Has Also Presented Itself To The World As An Economic Powerhouse. The Initiatives Taken In The Early 1990S Continue To Bring The Rewards And Have Enabled India To Become The Fourth Largest Gdp In The World In Terms Of Purchasing Power. Today, The Young Generation Has The Potential To Absorb And Master New Technologies. The Country Has A Healthy Regulatory Environment And Strong Financial System. Owing To Its Better Returns On Investments, It Has Been Able To Attract A Large Number Of Foreign Investors. Mncs Are Today Looking For Low-Cost Manufacturing Bases, And India Is Seen As Their Favourite Choice. It Has Been Estimated By The Eminent Economists That India May Emerge As One Of The Three Top Engineering Goods Exporters Among Low- Cost Offshore Manufacturers With An Export Target Of $ 250-300 Billion By 2015. Likewise, It Is Becoming A Major Force In Complex, High-End And High Margin Information Technology Services.Today, There Is An Increasing Willingness Internationally To Work With India And Build Relationships For Mutual Benefit In Different Fields Automobile, Pharmaceuticals, Tourism, Electronics & Communications, To Name A Few. No Wonder There Are Many Who Believe That The Future Belongs To India. It Is Not To Say That The Country Has An Easy Ride Ahead. Its First Challenge Is To Broad-Base Growth. According To World Bank Data, A Considerably Large Proportion Of India S Population Earns Less Than $ 2 A Day. Furthermore, The Problems Of Illiteracy, Lack Of Health Care And Unemployment Are Still Acute, Which Indicate That India Is Long Way Away From Prosperity. The Changing Face Of Indian Economy Thus Needs To Be Looked Into From Several Sides. The Present Book Is A Modest Effort In This Direction. It Makes An Analytic Study Of India S Progress Since Independence Of The Country And Focuses On The Policies And Initiatives Taken As Yet. It Aims At Acquainting Readers With The Economic Scenario Of India In Its True Spirit.It Is Hoped That The Book Will Prove An Ideal Reference Book For Students, Researchers And Teachers Of Economics. Even The General Readers Interested In The Present State Of Indian Economy And Its Progress Will Find It Valuable And Informative.




Poverty in India


Book Description

The Previous Century Was Marked By India S Great Transformation From A Colonial Agrarian Economy To A Modern, Vibrating, Knowledge-Based Economy Within The Framework Of A Liberal And Secular Democracy. A High Annual Gdp Growth Rate Of Over 8 Per Cent Is Now Being Achieved On A Consistent Basis. The Rapid Economic Growth Has, However, Brought Only A Marginal Decline In Rural And Urban Poverty As Nearly 250 Million People, Constituting About 25 Per Cent Of The Country S Total Population, Still Remain Below The Poverty Line.The Data Relating To The Dimensions Of Poverty Is Startling A Whopping 350 Million People Are Illiterate, 150 Million Have No Access To Safe Drinking Water, 750 Million Lack Clean Sanitation Facilities And Are Prone To Diseases Resulting Therefrom, And 50 Per Cent Of The Children Eat Below Acceptable Nutritional Levels. Average Life Expectancy At Birth Has No Doubt Risen To 63 Years, But Infant Mortality Rate (Imr) And Maternal Mortality Rate (Mmr) Are Still At Unacceptably High Levels 57 Per 1000, And 3 Per 1000 Live Births Respectively. In Terms Of Human Development Index (Hdi), India Is Ranked 126Th Among The 177 Listed Countries. Even The Mentioned Statistics Do Not Fully Capture The Sheer Destitution And Misery Our Marginalized Sections Of Population Are Subjected To. The Poverty That They Endure Robs Them Of Their Human Dignity And Makes A Mockery Of Our Claims To Social Justice And Equity.Growth, When Unevenly Spread, Dwarfs Overall Prosperity. Hence, Bridging The Income Divide Is The Biggest Challenge For India. The Government On Its Part Has Launched Several Poverty Alleviation Programmes But They Have Not Brought The Desired Result. The Approach Paper To The Eleventh Five-Year Plan Has Laid Emphasis On Strategies That Accelerate Growth And Make It Broadbased.The Present Anthology Is Comprised Of Well-Researched Articles By Erudite Scholars Who Have Deeply Analysed The Problem Of Persisting Poverty In India. Various Factors Responsible For Such A Situation Have Been Studied And Ways And Means Suggested To Considerably Reduce If Not Eradicate Poverty.The Book Will Serve As A Valuable Reference Source For Students And Teachers Of Economics And Researchers On This Subject. It Will Also Be Useful For The Policymakers, Planners, Parliamentarians, Government Agencies And Ngos. Common Readers Concerned With The Overall Development Of The Nation Will Find It Highly Informative.