Indian Economy

The CSO has recently released a new series of national accounts with base year 2011-12. This series presents a considerably improved performance of the economy during the years 2012-13 and 2013-14 vis-a-vis the earlier series with base year 2004-05. However, many economists have criticised the methodology by the CSO in arriving at the new estimates while some others have argued that the overall macroeconomic overview of the economy during these years does not justify the optismistic results arrived at by the CSO. In any case, the new series gives data for only three years and thus cannot be used for a comparative long-run study over a period of time. Till such series becomes available, one has no option but to continue to use the series with base year 2004-05. This is what we do in the present edition although results based on the new series are also presented at relevant places. As in the case of the earlier editions, in this edition also we critically analyse the performance of the Indian economy over the years, discuss the problems confronting the different sectors, and carry out a threadbare evaluation of the different programmes being undertaken by the government in considerable detail. We also examine the challenges and opportunities facing the Indian economy in the new emerging global environment. Contents : PART I - ECONOMIC DEVELOPMENT: A THEORETICAL BACKGROUND, PART II - STRUCTURE OF THE INDIAN ECONOMY, PART III - BASIC ISSUES IN AGRICULTURE, PART IV - THE INDUSTRIAL SECTOR AND SERVICES IN INDIAN ECONOMY, PART V - FOREIGN TRADE AND FOREIGN CAPITAL, PART VI - MONEY AND BANKING, PART VII - PUBLIC FINANCE, PART VIII - ECONOMIC PLANNING AND POLICY