Indian Economy, Vol. 3

Indian economy has come a long way since Indias Independence in 1947. Although the major problems of poverty, unemployment, unequal distribution of wealth, and inadequate infrastructure still continue to persist, the fact cannot be denied that a rapid development is being made in many important areas. Some landmark policy decisions like delicensing, and prudent monetary and fiscal measures taken by the government, have put the economy on a higher growth path. In fact, the countrys annual GDP growth has been quite remarkable since the initiation of economic reforms in the 1990s.

The book Indian Economy in three volumes is an attempt to assess all the key indicators of Indian economy from academic point of view. Volume 1 of the book provides a detailed overview of Indian economy, also giving the economic history of India, features of Indian economy, and Indias demography. The major sectors like Agriculture and Industry have also been discussed, besides Indias Public Finance. Volume 2 studies the structure of Indian economy and attempts to answer the key questions such as whether to go for mechanization across various sectors, which may aggravate unemployment situation, or to adopt labour-intensive methods of production, which are slow; whether to encourage foreign multinational companies (MNCs) to establish their business in India, or to keep the economy insulated from foreign competition, etc.

This, volume 3 of the book studies in depth the financial system and structure of Indian economy. The entire banking and finance network, including indigenous and foreign banks, non-banking financial companies (NBFCs), Reserve Bank of India (RBI)its regulatory and credit functions as well as monetary management, reorganization of banking structure, Indian money market, special financial institutions, merchant banking, venture capital funds, stock exchanges in India, central and state financial corporations, among other things, have been discussed in detail. A special feature of this book is the inclusion of important Tables giving latest, and in some cases, also historical data on various parameters relating to Indian economy. The text has been supplemented with up-to-date information of facts, figures, policies, schemes, programmes and reviews.

The book will help the economists, government executives, parliamentarians and legislators to frame effective economic policies. It will prove beneficial to the students and teachers of economics at graduation and postgraduation levels. Those preparing for competitive examinations like Civil Services will find this book useful. To those having an interest in Indian economy, particularly its financial structure, this book will provide for a stimulating and richly rewarding reading.