Two Decades of LPG: Liberalisation, Privatisation, Globalisation

Two Decades of LPG, which is a sequel to his Economic Reforms in India and Abroad (1992) and a supplement to the popular books Business and Government and Business Environment, critically examines the transformation of the Indian business environment over the last two decades. The introductory chapter provides a short description of the changes, historically, in the economic roles of government across the world and the global LPG wave of the recent decades. The second chapter examines the government-business dynamics in India over the last six-and-a-half decades, viz., the growth of the control regime and its impact and the transition in the last two decades. The next three chapters go into some macro details of the reforms in three important sectors − industrial, financial and external. The last chapter, entitled The Emerging India, takes a bird`s eye view of the changes in the position of India in the world economy over the last two millennia. Particular attention has been given to evaluate India`s economic performance since 1950 and the impact of the economic reforms. The chapter concludes with a look at the future prospects and challenges for the Indian economy.