EconPapers    
Economics at your fingertips  
 

India: From License and Inspection Raj to the Triumph of Reforms

Kartick Das

The IUP Journal of Managerial Economics, 2011, vol. IX, issue 4, 7-14

Abstract: India followed social democratic policies from 1947 to 1991. The economy was characterized by extensive regulation, protectionism, public ownership, pervasive corruption and slow growth. Since 1991, continuing economic liberalization has moved the economy toward a market-based system. A revival of economic reforms and better economic policy in 2000s accelerated India’s economic growth rate. In recent years, Indian cities have continued to liberalize business regulations. By 2008, India had established itself as the world’s second fastest growing major economy. However, the year 2009 saw a significant slowdown in India’s official GDP growth rate to 6.1% as well as the return of a large projected fiscal deficit of 6.8% of GDP, which would be among the highest in the world. The present study is an attempt to understand the nature of transition from a socialist to a liberalized economy that has helped India emerge from a bottomless pit to become a potential economic superpower.

Date: 2011
References: Add references at CitEc
Citations Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjme:v:09:y:2011:i:4:p:7-14

Access Statistics for this article

More articles in The IUP Journal of Managerial Economics from IUP Publications
Series data maintained by G R K Murty ().

 
Page updated 2017-09-29
Handle: RePEc:icf:icfjme:v:09:y:2011:i:4:p:7-14