Battles Half Won : The Political Economy of India's Growth and Economic Policy since Independence

Rapid growth since 1980 has transformed India from the world's 50th ranked economy in nominal U.S. dollars to the 10th largest in 2005. The growth of per capita income has helped reduce poverty. At the same time, evidence suggests that income...

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Main Authors: Ahmed, Sadiq, Varshney, Ashutosh
Format: Working Paper
Language:English
en_US
Published: World Bank, Washington, DC 2017
Subjects:
GDP
GNP
NDP
TAX
Online Access:http://documents.worldbank.org/curated/en/891731468330971811/Battles-half-won-the-political-economy-of-Indias-growth-and-economic-policy-since-independence
http://hdl.handle.net/10986/28048
id okr-10986-28048
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic ABSOLUTE TERMS
ACCOUNTING
ADVERSE EFFECTS
AGRICULTURAL SECTOR
AGRICULTURE
ANNUAL GROWTH
ANNUAL GROWTH RATE
AVERAGE GROWTH
AVERAGE LEVEL
BALANCE OF PAYMENTS
BALANCE OF PAYMENTS CRISIS
BARGAINING
BASIC EDUCATION
BENEFICIARIES
CAPITAL ACCUMULATION
CAPITAL FLOWS
CAPITAL INFLOWS
CAPITAL MARKETS
CASUAL WORKERS
CENTRAL PLANNING
COMMAND ECONOMY
CORPORATE TAX RATES
COUNTRY CASE
CURRENCY
CURRENCY DEVALUATION
CURRENT ACCOUNT DEFICIT
DEBT
DEBT SERVICE
DEMOCRACY
DEREGULATION
DEVALUATION
DEVELOPED COUNTRIES
DEVELOPING COUNTRIES
DEVELOPING WORLD
DEVELOPMENT INDICATORS
DEVELOPMENT PRACTITIONERS
DEVELOPMENT STRATEGIES
DEVELOPMENT STRATEGY
DIMINISHING RETURNS
DOMESTIC DEBT
DOWNSIDE RISKS
ECONOMIC BOOM
ECONOMIC DEVELOPMENT
ECONOMIC EXPANSION
ECONOMIC GROWTH
ECONOMIC HISTORY
ECONOMIC LIBERALIZATION
ECONOMIC OBJECTIVES
ECONOMIC OUTCOMES
ECONOMIC PERFORMANCE
ECONOMIC POLICY
ECONOMIC REALM
ECONOMIC REFORM
ECONOMIC REFORMS
ECONOMIC SECTORS
ECONOMIC THEORIES
ECONOMICS
ECONOMICS PROFESSION
EDUCATIONAL ATTAINMENT
ELASTICITY
EMPLOYMENT
EQUAL RIGHTS
EQUITY ISSUES
EXCHANGE CONTROLS
EXCHANGE RATE
EXCHANGE RATES
EXPORTS
EXTERNAL DEBT
FINANCIAL INSTITUTIONS
FINANCIAL SECTOR
FISCAL DEFICITS
FISCAL POLICIES
FISCAL POLICY
FOREIGN CAPITAL
FOREIGN DIRECT INVESTMENT
FOREIGN EXCHANGE
FOREIGN EXCHANGE RESERVES
FOREIGN INVESTMENT
FOREIGN INVESTORS
GDP
GDP PER CAPITA
GLOBAL ECONOMY
GLOBAL MARKETS
GNP
GOVERNMENT BUDGET
GOVERNMENT FINANCES
GROWTH IMPACT
GROWTH PERFORMANCE
GROWTH PROCESS
GROWTH RATES
HOLDING
HUMAN DEVELOPMENT
IMPORT TARIFFS
INCOME DISTRIBUTION
INCOME GROUPS
INCOME INEQUALITIES
INCOME INEQUALITY
INCOMES
INDUSTRIAL COUNTRIES
INDUSTRIAL DEVELOPMENT
INDUSTRIAL POLICY
INDUSTRIAL SECTOR
INDUSTRIALIZATION
INDUSTRIALIZED COUNTRIES
INEQUALITY DATA
INFANT MORTALITY
INFLATION
INFLATION RATE
INSTRUMENT
INTEREST BURDEN
INTERNATIONAL BANK
INTERNATIONAL DEVELOPMENT
INTERNATIONAL FINANCIAL INSTITUTIONS
INTERNATIONAL INVESTORS
INTERNATIONAL STANDARDS
INVESTING
INVESTMENT RATE
INVESTMENT RATES
INVESTMENT REGIMES
INVESTMENT REGULATIONS
JOB CREATION
LABOR ABSORPTION
LABOR FORCE
LABOR LAWS
LABOR MARKET
LABOR MARKET FLEXIBILITY
LABOR MARKET POLICIES
LABOR PRODUCTIVITY
LABOR SUPPLY
LABOR UNIONS
LAND REFORMS
LAYOFFS
LESS DEVELOPED COUNTRIES
LIFE EXPECTANCY
LONG-TERM GROWTH
LOW-INCOME ECONOMY
MACROECONOMIC CRISIS
MACROECONOMIC ENVIRONMENT
MACROECONOMIC POLICIES
MACROECONOMIC STABILITY
MACROECONOMIC STABILIZATION
MARKET ECONOMY
MARKET REFORMS
MONETARY POLICY
NATIONAL SAVING
NATIONAL SAVINGS
NDP
NET DOMESTIC PRODUCT
OUTPUT
PAYMENTS CRISIS
PER CAPITA INCOME
PER-CAPITA INCOME
POLICY CHANGE
POLICY CIRCLES
POLICY IMPLICATIONS
POLICY MAKERS
POLICY PROCESS
POLICY STANCE
POLITICAL ARENA
POLITICAL ECONOMIES
POLITICAL ECONOMY
POLITICAL PROCESS
POLITICAL STABILITY
POOR PEOPLE
POVERTY LINE
POVERTY REDUCTION
POWER PARITY
PRICE CONTROLS
PRIVATE INVESTMENT
PRO-POOR
PRODUCTIVITY
PRODUCTIVITY GROWTH
PROFIT MOTIVE
PUBLIC EXPENDITURES
PUBLIC GOOD
PUBLIC INVESTMENT
PUBLIC SECTOR
PUBLIC SPENDING
PURCHASING POWER
RAPID GROWTH
RAPID INDUSTRIALIZATION
RATE OF GROWTH
REAL WAGES
REFORM PROGRAM
REMITTANCES
RESERVE
RESERVE BANK
RESERVES
RETURN
RURAL POVERTY
SAVING RATE
SAVINGS RATE
SECONDARY ENROLLMENT
SECTORAL COMPOSITION
SHAREHOLDERS
SKILLED WORKERS
STOCK MARKET
STOCK MARKETS
TAX
TAX COLLECTIONS
TAX CONCESSION
TELECOMMUNICATIONS
TOTAL FACTOR PRODUCTIVITY
TRADE BARRIERS
TRADE LIBERALIZATION
TRADE POLICIES
TRADE REGIMES
TRANSPARENCY
UNDERESTIMATES
UNEQUAL SOCIETY
UNSKILLED WORKERS
URBAN AREAS
URBAN POVERTY
URBAN WORKERS
WAGE DIFFERENTIALS
WAGE INCREASES
WAGES
WITHDRAWAL
WORK FORCE
spellingShingle ABSOLUTE TERMS
ACCOUNTING
ADVERSE EFFECTS
AGRICULTURAL SECTOR
AGRICULTURE
ANNUAL GROWTH
ANNUAL GROWTH RATE
AVERAGE GROWTH
AVERAGE LEVEL
BALANCE OF PAYMENTS
BALANCE OF PAYMENTS CRISIS
BARGAINING
BASIC EDUCATION
BENEFICIARIES
CAPITAL ACCUMULATION
CAPITAL FLOWS
CAPITAL INFLOWS
CAPITAL MARKETS
CASUAL WORKERS
CENTRAL PLANNING
COMMAND ECONOMY
CORPORATE TAX RATES
COUNTRY CASE
CURRENCY
CURRENCY DEVALUATION
CURRENT ACCOUNT DEFICIT
DEBT
DEBT SERVICE
DEMOCRACY
DEREGULATION
DEVALUATION
DEVELOPED COUNTRIES
DEVELOPING COUNTRIES
DEVELOPING WORLD
DEVELOPMENT INDICATORS
DEVELOPMENT PRACTITIONERS
DEVELOPMENT STRATEGIES
DEVELOPMENT STRATEGY
DIMINISHING RETURNS
DOMESTIC DEBT
DOWNSIDE RISKS
ECONOMIC BOOM
ECONOMIC DEVELOPMENT
ECONOMIC EXPANSION
ECONOMIC GROWTH
ECONOMIC HISTORY
ECONOMIC LIBERALIZATION
ECONOMIC OBJECTIVES
ECONOMIC OUTCOMES
ECONOMIC PERFORMANCE
ECONOMIC POLICY
ECONOMIC REALM
ECONOMIC REFORM
ECONOMIC REFORMS
ECONOMIC SECTORS
ECONOMIC THEORIES
ECONOMICS
ECONOMICS PROFESSION
EDUCATIONAL ATTAINMENT
ELASTICITY
EMPLOYMENT
EQUAL RIGHTS
EQUITY ISSUES
EXCHANGE CONTROLS
EXCHANGE RATE
EXCHANGE RATES
EXPORTS
EXTERNAL DEBT
FINANCIAL INSTITUTIONS
FINANCIAL SECTOR
FISCAL DEFICITS
FISCAL POLICIES
FISCAL POLICY
FOREIGN CAPITAL
FOREIGN DIRECT INVESTMENT
FOREIGN EXCHANGE
FOREIGN EXCHANGE RESERVES
FOREIGN INVESTMENT
FOREIGN INVESTORS
GDP
GDP PER CAPITA
GLOBAL ECONOMY
GLOBAL MARKETS
GNP
GOVERNMENT BUDGET
GOVERNMENT FINANCES
GROWTH IMPACT
GROWTH PERFORMANCE
GROWTH PROCESS
GROWTH RATES
HOLDING
HUMAN DEVELOPMENT
IMPORT TARIFFS
INCOME DISTRIBUTION
INCOME GROUPS
INCOME INEQUALITIES
INCOME INEQUALITY
INCOMES
INDUSTRIAL COUNTRIES
INDUSTRIAL DEVELOPMENT
INDUSTRIAL POLICY
INDUSTRIAL SECTOR
INDUSTRIALIZATION
INDUSTRIALIZED COUNTRIES
INEQUALITY DATA
INFANT MORTALITY
INFLATION
INFLATION RATE
INSTRUMENT
INTEREST BURDEN
INTERNATIONAL BANK
INTERNATIONAL DEVELOPMENT
INTERNATIONAL FINANCIAL INSTITUTIONS
INTERNATIONAL INVESTORS
INTERNATIONAL STANDARDS
INVESTING
INVESTMENT RATE
INVESTMENT RATES
INVESTMENT REGIMES
INVESTMENT REGULATIONS
JOB CREATION
LABOR ABSORPTION
LABOR FORCE
LABOR LAWS
LABOR MARKET
LABOR MARKET FLEXIBILITY
LABOR MARKET POLICIES
LABOR PRODUCTIVITY
LABOR SUPPLY
LABOR UNIONS
LAND REFORMS
LAYOFFS
LESS DEVELOPED COUNTRIES
LIFE EXPECTANCY
LONG-TERM GROWTH
LOW-INCOME ECONOMY
MACROECONOMIC CRISIS
MACROECONOMIC ENVIRONMENT
MACROECONOMIC POLICIES
MACROECONOMIC STABILITY
MACROECONOMIC STABILIZATION
MARKET ECONOMY
MARKET REFORMS
MONETARY POLICY
NATIONAL SAVING
NATIONAL SAVINGS
NDP
NET DOMESTIC PRODUCT
OUTPUT
PAYMENTS CRISIS
PER CAPITA INCOME
PER-CAPITA INCOME
POLICY CHANGE
POLICY CIRCLES
POLICY IMPLICATIONS
POLICY MAKERS
POLICY PROCESS
POLICY STANCE
POLITICAL ARENA
POLITICAL ECONOMIES
POLITICAL ECONOMY
POLITICAL PROCESS
POLITICAL STABILITY
POOR PEOPLE
POVERTY LINE
POVERTY REDUCTION
POWER PARITY
PRICE CONTROLS
PRIVATE INVESTMENT
PRO-POOR
PRODUCTIVITY
PRODUCTIVITY GROWTH
PROFIT MOTIVE
PUBLIC EXPENDITURES
PUBLIC GOOD
PUBLIC INVESTMENT
PUBLIC SECTOR
PUBLIC SPENDING
PURCHASING POWER
RAPID GROWTH
RAPID INDUSTRIALIZATION
RATE OF GROWTH
REAL WAGES
REFORM PROGRAM
REMITTANCES
RESERVE
RESERVE BANK
RESERVES
RETURN
RURAL POVERTY
SAVING RATE
SAVINGS RATE
SECONDARY ENROLLMENT
SECTORAL COMPOSITION
SHAREHOLDERS
SKILLED WORKERS
STOCK MARKET
STOCK MARKETS
TAX
TAX COLLECTIONS
TAX CONCESSION
TELECOMMUNICATIONS
TOTAL FACTOR PRODUCTIVITY
TRADE BARRIERS
TRADE LIBERALIZATION
TRADE POLICIES
TRADE REGIMES
TRANSPARENCY
UNDERESTIMATES
UNEQUAL SOCIETY
UNSKILLED WORKERS
URBAN AREAS
URBAN POVERTY
URBAN WORKERS
WAGE DIFFERENTIALS
WAGE INCREASES
WAGES
WITHDRAWAL
WORK FORCE
Ahmed, Sadiq
Varshney, Ashutosh
Battles Half Won : The Political Economy of India's Growth and Economic Policy since Independence
geographic_facet South Asia
India
relation Commission on Growth and Development Working Paper;No. 15
description Rapid growth since 1980 has transformed India from the world's 50th ranked economy in nominal U.S. dollars to the 10th largest in 2005. The growth of per capita income has helped reduce poverty. At the same time, evidence suggests that income inequality is rising and that the gap in average per capita income between the rich and poor states is growing. This paper reviews India's long term growth experience with a view to understanding the determinants of growth and the underlying political economy. The paper looks specifically at the political economy of India's growth transformation from a low-growth environment (pre-1980s) to a rapid-growth environment (post 1980s) and asks how sustainable is this transformation in view of concerns about regional disparity and income inequality. The paper concludes that the pledge that India's post-independence leadership had undertaken to abolish mass poverty remains only partially redeemed. Half the battle still lies ahead. Many more would like the fruits of the economic boom to come to them. The greatest challenge for India's policy makers today is to balance the growth momentum with inclusionary policies.
format Working Paper
author Ahmed, Sadiq
Varshney, Ashutosh
author_facet Ahmed, Sadiq
Varshney, Ashutosh
author_sort Ahmed, Sadiq
title Battles Half Won : The Political Economy of India's Growth and Economic Policy since Independence
title_short Battles Half Won : The Political Economy of India's Growth and Economic Policy since Independence
title_full Battles Half Won : The Political Economy of India's Growth and Economic Policy since Independence
title_fullStr Battles Half Won : The Political Economy of India's Growth and Economic Policy since Independence
title_full_unstemmed Battles Half Won : The Political Economy of India's Growth and Economic Policy since Independence
title_sort battles half won : the political economy of india's growth and economic policy since independence
publisher World Bank, Washington, DC
publishDate 2017
url http://documents.worldbank.org/curated/en/891731468330971811/Battles-half-won-the-political-economy-of-Indias-growth-and-economic-policy-since-independence
http://hdl.handle.net/10986/28048
_version_ 1764465840501030912
spelling okr-10986-280482021-04-23T14:04:46Z Battles Half Won : The Political Economy of India's Growth and Economic Policy since Independence Ahmed, Sadiq Varshney, Ashutosh ABSOLUTE TERMS ACCOUNTING ADVERSE EFFECTS AGRICULTURAL SECTOR AGRICULTURE ANNUAL GROWTH ANNUAL GROWTH RATE AVERAGE GROWTH AVERAGE LEVEL BALANCE OF PAYMENTS BALANCE OF PAYMENTS CRISIS BARGAINING BASIC EDUCATION BENEFICIARIES CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MARKETS CASUAL WORKERS CENTRAL PLANNING COMMAND ECONOMY CORPORATE TAX RATES COUNTRY CASE CURRENCY CURRENCY DEVALUATION CURRENT ACCOUNT DEFICIT DEBT DEBT SERVICE DEMOCRACY DEREGULATION DEVALUATION DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING WORLD DEVELOPMENT INDICATORS DEVELOPMENT PRACTITIONERS DEVELOPMENT STRATEGIES DEVELOPMENT STRATEGY DIMINISHING RETURNS DOMESTIC DEBT DOWNSIDE RISKS ECONOMIC BOOM ECONOMIC DEVELOPMENT ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC LIBERALIZATION ECONOMIC OBJECTIVES ECONOMIC OUTCOMES ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC REALM ECONOMIC REFORM ECONOMIC REFORMS ECONOMIC SECTORS ECONOMIC THEORIES ECONOMICS ECONOMICS PROFESSION EDUCATIONAL ATTAINMENT ELASTICITY EMPLOYMENT EQUAL RIGHTS EQUITY ISSUES EXCHANGE CONTROLS EXCHANGE RATE EXCHANGE RATES EXPORTS EXTERNAL DEBT FINANCIAL INSTITUTIONS FINANCIAL SECTOR FISCAL DEFICITS FISCAL POLICIES FISCAL POLICY FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN INVESTMENT FOREIGN INVESTORS GDP GDP PER CAPITA GLOBAL ECONOMY GLOBAL MARKETS GNP GOVERNMENT BUDGET GOVERNMENT FINANCES GROWTH IMPACT GROWTH PERFORMANCE GROWTH PROCESS GROWTH RATES HOLDING HUMAN DEVELOPMENT IMPORT TARIFFS INCOME DISTRIBUTION INCOME GROUPS INCOME INEQUALITIES INCOME INEQUALITY INCOMES INDUSTRIAL COUNTRIES INDUSTRIAL DEVELOPMENT INDUSTRIAL POLICY INDUSTRIAL SECTOR INDUSTRIALIZATION INDUSTRIALIZED COUNTRIES INEQUALITY DATA INFANT MORTALITY INFLATION INFLATION RATE INSTRUMENT INTEREST BURDEN INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL INVESTORS INTERNATIONAL STANDARDS INVESTING INVESTMENT RATE INVESTMENT RATES INVESTMENT REGIMES INVESTMENT REGULATIONS JOB CREATION LABOR ABSORPTION LABOR FORCE LABOR LAWS LABOR MARKET LABOR MARKET FLEXIBILITY LABOR MARKET POLICIES LABOR PRODUCTIVITY LABOR SUPPLY LABOR UNIONS LAND REFORMS LAYOFFS LESS DEVELOPED COUNTRIES LIFE EXPECTANCY LONG-TERM GROWTH LOW-INCOME ECONOMY MACROECONOMIC CRISIS MACROECONOMIC ENVIRONMENT MACROECONOMIC POLICIES MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARKET ECONOMY MARKET REFORMS MONETARY POLICY NATIONAL SAVING NATIONAL SAVINGS NDP NET DOMESTIC PRODUCT OUTPUT PAYMENTS CRISIS PER CAPITA INCOME PER-CAPITA INCOME POLICY CHANGE POLICY CIRCLES POLICY IMPLICATIONS POLICY MAKERS POLICY PROCESS POLICY STANCE POLITICAL ARENA POLITICAL ECONOMIES POLITICAL ECONOMY POLITICAL PROCESS POLITICAL STABILITY POOR PEOPLE POVERTY LINE POVERTY REDUCTION POWER PARITY PRICE CONTROLS PRIVATE INVESTMENT PRO-POOR PRODUCTIVITY PRODUCTIVITY GROWTH PROFIT MOTIVE PUBLIC EXPENDITURES PUBLIC GOOD PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC SPENDING PURCHASING POWER RAPID GROWTH RAPID INDUSTRIALIZATION RATE OF GROWTH REAL WAGES REFORM PROGRAM REMITTANCES RESERVE RESERVE BANK RESERVES RETURN RURAL POVERTY SAVING RATE SAVINGS RATE SECONDARY ENROLLMENT SECTORAL COMPOSITION SHAREHOLDERS SKILLED WORKERS STOCK MARKET STOCK MARKETS TAX TAX COLLECTIONS TAX CONCESSION TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS TRADE LIBERALIZATION TRADE POLICIES TRADE REGIMES TRANSPARENCY UNDERESTIMATES UNEQUAL SOCIETY UNSKILLED WORKERS URBAN AREAS URBAN POVERTY URBAN WORKERS WAGE DIFFERENTIALS WAGE INCREASES WAGES WITHDRAWAL WORK FORCE Rapid growth since 1980 has transformed India from the world's 50th ranked economy in nominal U.S. dollars to the 10th largest in 2005. The growth of per capita income has helped reduce poverty. At the same time, evidence suggests that income inequality is rising and that the gap in average per capita income between the rich and poor states is growing. This paper reviews India's long term growth experience with a view to understanding the determinants of growth and the underlying political economy. The paper looks specifically at the political economy of India's growth transformation from a low-growth environment (pre-1980s) to a rapid-growth environment (post 1980s) and asks how sustainable is this transformation in view of concerns about regional disparity and income inequality. The paper concludes that the pledge that India's post-independence leadership had undertaken to abolish mass poverty remains only partially redeemed. Half the battle still lies ahead. Many more would like the fruits of the economic boom to come to them. The greatest challenge for India's policy makers today is to balance the growth momentum with inclusionary policies. 2017-08-28T21:12:30Z 2017-08-28T21:12:30Z 2008 Working Paper http://documents.worldbank.org/curated/en/891731468330971811/Battles-half-won-the-political-economy-of-Indias-growth-and-economic-policy-since-independence http://hdl.handle.net/10986/28048 English en_US Commission on Growth and Development Working Paper;No. 15 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research South Asia India