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Indian Economy since Independence: Persisting Colonial Disruption / Kumar, Arun
Indian Economy since Independence: Persisting Colonial Disruption
Kumar, Arun
List Price : US$ 72.23
Our Price : US$ 57.78
You Save : 20%
  Book ID : 41518
  ISBN-10 : 81-7094-873-8 / 8170948738
  ISBN-13 : 978-81-7094-873-5 / 9788170948735
  Place of Publication : Delhi
  Year of Publication : 2013
  Edition : (First Edition)
  Language : English
  816p., Abb., Bib., Index, 25 cm.


1. Why Another Book on Indian Economy
2. Methodological Aspects
3. The Idea of a Disrupted Society
4. The Criticality of the Long Run for Analysis
5. The Role of Leadership
6. Model of Development
7. Conclusion

I. Introduction
1. The Backdrop
2. Data Related
3. Is Rate of Growth a Good Measure of Society's Progress?
4. Modelling, Causal and Dependent Variables
5. Scheme of the Book and Outline

II. Pre-Independence India and the Disruption of Society
1. Introduction: Hysteresis and Historical Facts
2. One-Way Globalisation since 1750
3. Some Important Developments in Pre-Independence India
4. The Emerging National Leadership
5. Concept of Disruption of Indian Society
6. Link with the Post-Independence Period

III. Some Key Developments in India since Independence
1. The Continuation of Disruption in Post-Independence India
2. The 1950s: Setting up the Developmental Structures
3. Problems of the Strategy of Dependent Development in the 1960s
4. Growing Disarray of the 1970s
5. The 1980s: Heading Towards the Crisis of Mixed Economy
6. The 180-Degree Turn with New Economic Policies
7. Conclusion
8. Some Important Dates for India from the Time of Independence

IV. Continuing Disruptions, Crisis of Leadership and Phases of the Economy since Independence
1. Introduction
2. Leadership of the Country and Continuing Disruption
3. The Nature and Extent of Democracy in the Country
4. Phases of the Indian Economy since Independence
5. Conclusion: The Continuing Disruptions

V. Theoretical Aspects: Macroeconomic Policies, Resources for Development and Government Intervention
1. Philosophical Aspects Underlying Policies
2. Theoretical Aspects of Economic Growth
3. Aspects of Fiscal Policies since Independence
4. Consumption, Consumerism and Shortage of Resources
5. Planning and Public Sector
6. Financial Sector and Its Development
7. Conclusion

VI. Structural Changes in the Indian Economy
1. Introduction: A Complex Economy
2. Workers in the Indian Economy
3. Changing Structural Dichotomies in Post-Independence Period
4. Agriculture: Coping with the Crisis Within
5. Manufacturing: Struggling to Modernise
6. Tertiary Sector: Becoming Dominant
7. Conclusion

VII. Global Aspects of Post-Independence Developments
1. Introduction
2. Exports and Imports: Their Changing Structure
3. Conceptual Aspects of One-Way Globalisation and Marketisation
4. Aid and Capital Flows: Some Considerations
5. Role of World Bank and IMF: Managing Marketisation in the World
6. GATT / WTO and Impact on the Indian Economy
7. Conclusion

VIII. The All Pervasive Black Economy
1. Introduction
2. India's Economic Position in the World
3. The Size of the Black Economy
4. The Black Economy, Illegality and Governance
5. Causes of Existence of Black Economy
6. Black Economy and Its Consequences
7. Some Recent Important and Illustrative Cases
8. Possible Remedies
9. Conclusion: Reinforcing Disruption in Society

IX. Inadequacies in Infrastructure and Continuing Disruption: Impact on the Societal Dynamics
1. Introduction: Infrastructure Gap at Independence
2. Infrastructure Development in India since 1950
3. Urbanisation in India: Irrationalities Abound
4. Transportation
5. Energy and Associated Environmental Considerations
6. Communication
7. The Health Sector: Some Key Issues
8. Conclusion

X. Link between Poverty, Inequality, Marginalisation
Employment and Environmental Destruction with Disruption
1. Introduction: Poverty as a Social Category
2. Changing Nature of Poverty and Inequality in India
3. Structure of Employment, Technological Change and Poverty
4. Specific Issues Relating to Poverty and Inequality in India
5. Environment, Poverty and the Marginalised
6. Conclusion: Poverty, Inequality, Marginalisation and
Disruption of Society

XI. Key Aspects of the Disruption of Social
Dynamics: Inadequacies in Knowledge Generation
1. Introduction
2. Historical Context of Post-Independence Developments
3. Major Policy Changes
4. Continuing Disruption in India's Education System
5. Financing of Education, Especially Higher Education
6. Overview Post-Independence Developments in Education
7. S & T in India and Problems in Knowledge Generation
8. Need for Societal Control Over Technology
9. Conclusion
Appendix I: S & T and Industrial Policies
Appendix II: Summary of Recommendations of Post-1991
Committees on Education
Appendix III: Proposed Sources of Financing Higher Education

XII. Conclusion: Understanding the Continuing Disruption of Indian Society and Economy
1. Colonial Disruption and Its Persistence After Independence
2. Methodological Aspects Highlighted by the Analysis
3. Theoretical Aspects of Disruption
4. Black Economy: The Missing Dimension in Analysis
5. Inter-Relationship between Modernity, Marketisation, Black Economy and Disruption
6. Political Aspects
7. Question of Alternative(s)


This book presents a historical and political survey of India's economic development since independence. It analyses the post-independence developments in the context of the preceding British rule. It is argued that the major economic and other problems of post-independence India have their roots in the disruption of Indian society caused by colonisation. The country’s persisting poverty, illiteracy, and general backwardness can be traced to the poor quality of political leadership because of its elitist roots, low investment due to the drain of the surplus, and the Indian society's loss of value for original and relevant ideas and knowledge.

The book highlights that there is a common explanation of how a handful of British could conquer India and rule over it for two hundred years and why independent India has not been able to overcome its problems over the last six decades. The colonial rule following Macaulay’s prescription created an elite class that mediated between the British rulers and the common Indian. The resulting gap between the elite and people at large persists till today leading to a weak leadership, endemic corruption, policy failure and poor governance. Thus, for example, India remains trapped in a one-way globalisation, mindlessly copying irrelevant solutions from the West. Then, too, material progress since independence has been largely concentrated in the "modern" sectors, dictated largely by the stage of the world economy. Two separate circles of development got created, the rapidly developing modern one uncomfortably co-existing with the marginalised and crisis-ridden traditional sectors.

This is a magisterial, seminal work on independent India's economy by a renowned economist. It stands out because it probes various aspects of the Indian society in a holistic manner, including key events, the changing institutional setting, the evolving political economy and its theoretical understanding, the role of the black economy in policy failure and the stunting of societal dynamism due to the inadequacies in knowledge generation. Further, it integrates issues ignored by most analysts, such as the environment, the marginalised, sectoral imbalances, poor infrastructure, fiscal crisis, monetary policy difficulties, persisting under-employment, growing regional disparities, trade imbalances, the continuity with the pre-independence period, international developments, the role of knowledge generation through education and science and technology, and the hierarchy of policies, all of which are germane to an understanding of the progress and hiatus in India's economy since independence.

There is no gainsaying the fact that the Indian economy has achieved much in the period. The point, however, is that it is too little compared to what was needed to be achieved and that the nation is headed in the wrong direction, highlighting the disjuncture between the short run and the long run - a running theme in the book. The approach adopted in the book leads to newer questions and answers.




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