The Indian Economic Crisis: Deliberations and Remedies
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The national debate about the advisability of opening up the economy, going in for an IMF Loan, restructuring the economy, privatisation of public sector undertakings, rationalising tariffs and abolishing subsidies etc. is on. The tenth lok sabha has produced a hung parliament after the general elections. The post independent India had misfortune of having government going for soft options resulting in gradually mounting budgetary deficits. Economic indiscipline has always been seeking new ebbs. This has pushed up the inflation rate into double digits. Spiralling non-plan and non productive government expenditure coupled with a slowdown in tax and revenue collections have brought the country to the bsink of bankruptcy. The continuing xenomania in approach to foreign investment and the lackadaisical attitude in dealing with public sector undertaking has led to industrial stagnation.
Everyone is agreed that drastic measures are called for to set the economy right. But ideological considerations and the hangover of 40 years of planned mixed economy are holding back both politicians and bureaucrats from taking bold initiatives.
This collection of articles reflects the dilemma that the country faces today. Time alone will tell how India survives the crisis.
| Common | |
| Author | M. C. Khandelwal, C. Prabhakar, S. C. Sharma |
| Binding | Hardcover |
| Edition | 1 |
| ISBN | 81-7132-044-9 |
| Language | English |
| Number Of Pages | xii+197 |
| Publication Year | 1991 |
| Publisher | Pointer Publishers, Jaipur |