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Author: Nirvikar Singh
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
In this paper we examine several dimensions of economic reform in India, in the context of the country's federal system and of globalization, i.e., we explicitly recognize that the national government has subnational governments below it, and that all these layers of government simultaneously interact with foreign governments and corporations in a global economy. We examine two groups of reforms, the first involving redrawing of state-market boundaries, and the second concerned with reconfiguring federal institutions themselves. The first group includes financial sector reforms, assignment of regulatory powers, infrastructure reform and development, and privatization. We note the progress made in financial sector reform but also the problems caused for the financial sector as a whole by state and central fiscal deficits. We discuss the extreme problems of the power sector, and the important federal dimensions that make reform more difficult there. We also highlight the regional concentration of FDI in India's more liberalized economy. The second group of reforms includes tax reforms, reform of center-state fiscal transfer mechanisms, and local government reforms. To some degree, these reforms in federal governance hold the key to opening the door to further reform elsewhere, by reducing the fiscal burden placed on the private sector by government deficits. We acknowledge the political economy aspects of reform of governance, and discuss possibilities for politically acceptable packages of fiscal reforms, such as combinations of changes in tax assignment that would be acceptable to the center as well as the state governments. We also discuss the possibility that growing regional inequalities might require the intergovernmental transfer system to be more efficient and effective in its objectives.
Author: Nirvikar Singh
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
In this paper we examine several dimensions of economic reform in India, in the context of the country's federal system and of globalization, i.e., we explicitly recognize that the national government has subnational governments below it, and that all these layers of government simultaneously interact with foreign governments and corporations in a global economy. We examine two groups of reforms, the first involving redrawing of state-market boundaries, and the second concerned with reconfiguring federal institutions themselves. The first group includes financial sector reforms, assignment of regulatory powers, infrastructure reform and development, and privatization. We note the progress made in financial sector reform but also the problems caused for the financial sector as a whole by state and central fiscal deficits. We discuss the extreme problems of the power sector, and the important federal dimensions that make reform more difficult there. We also highlight the regional concentration of FDI in India's more liberalized economy. The second group of reforms includes tax reforms, reform of center-state fiscal transfer mechanisms, and local government reforms. To some degree, these reforms in federal governance hold the key to opening the door to further reform elsewhere, by reducing the fiscal burden placed on the private sector by government deficits. We acknowledge the political economy aspects of reform of governance, and discuss possibilities for politically acceptable packages of fiscal reforms, such as combinations of changes in tax assignment that would be acceptable to the center as well as the state governments. We also discuss the possibility that growing regional inequalities might require the intergovernmental transfer system to be more efficient and effective in its objectives.
Author: Jessica Wallack
Publisher: Cambridge University Press
ISBN: 9781139448703
Category : Business & Economics
Languages : en
Pages : 558
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Book Description
This collection focuses on the ways in which federalism has affected and been affected by economic reform, especially global integration. The editors and contributors focus in particular on the political economy of institutional and economic change - how the division of authority between national and subnational governments shapes debates over policy changes, as well as how the changing economic environment creates incentives to modify the basic agreements between levels of governments. Each chapter contains a historical overview, and an in-depth account of division of authority, lines of accountability, and legislative, bureaucratic, and other arenas in which the levels of government interact for a particular country. The analyses are based on reform (or non-reform) episodes for each country - most from recent history, but some spanning the century. As a collection, the country studies span a range of developing and industrial countries with varying political systems.
Author: Harihar Bhattacharyya
Publisher: Routledge
ISBN: 1317526384
Category : Social Science
Languages : en
Pages : 292
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Book Description
This book examines the impact of globalization on some vital aspects of Indian politics, its structures and processes, and identifies the challenges to globalization itself, in order to highlight India’s complex and fascinating story. In 1991, India officially embraced the policy of neo-liberal reforms by signing the GATT agreement, which exposed the country, its society, culture and institutions to the various forces of globalization. Globalization as such may not be new to India, for the country has been embracing the influence of external cultures and civilisations for millennia, but the post-1991 reforms policy marked a significant shift, from a predominantly social welfare state and a command economy to a predominantly market driven one. Through a range of disciplinary perspectives, the authors analyse how India’s version of secularism, communal harmony, nationhood, the public sphere, social justice, and the rights of aboriginal communities came under attack from the forces of the new dispensation. The book goes on to show how globalisation in India has posed fresh challenges to political economy, democracy, federalism, decentralization, parliamentary system, judiciary, and the parliamentary Left. Critically reflecting on themes in the context of India’s globalisation that are local, regional, national and global, this book will be of interest to those in the fields of South Asian Politics, Globalisation, and International Relations.
Author: Jochen Gottwald
Publisher: GRIN Verlag
ISBN: 3638230651
Category : Political Science
Languages : en
Pages : 19
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Book Description
Seminar paper from the year 2003 in the subject Politics - Region: South Asia, grade: 1.0 (A), University of Heidelberg (South Asian Institute for Political Science), course: State and Economy in South Asia, with the example of India, language: English, abstract: Many scholars expected India to drag her feet in the liberalization process, due to the opposition of economically weak groups, negatively affected by a globalized market economy, but politically empowered through institutions created by India′s long democratic tradition (Lanyi 2000). The missing of this resistance was one of the most puzzling experiences of the last ten years. Supplementing Rob Jenkins′ popular thesis that India is going through a "reform by stealth" (Jenkins 1999) led by witty politicians, perfectly able to play the tunes of these various institutions, this article will provide a neo-institutionalist position with emphasize on the impact of the IMF′s structural adjustments programme on the federal and local level, which led to a change in the formal as well as in the informal institutions themselves. There are four points in Jenkins′ approach open to criticism and able to undermine the achievements of his research: a) the reductionist and static understanding of institutions b) the neglect of international entrepreneurs and structure influencing institutional policy c) the neglect of specific Indian "realities", forcing institutions to adapt in the face of liberalization d) the overemphasizing on the relevance of informal institutions and corruption as a means to achieve desired political outcomes. The thesis provided in this essay will be that the observed shift towards an increased directive ability of the central government is only a short-term phenomenon masking a steadily accelerating devolution of power that capacitates state- and local authorities to autonomously negotiate their self-interest in a globalized world over the long run. This process not only leads to an obvious need to redesign fiscal federalism, but will also call for an abolition of several centre-favouring precautions of Indian federalism.
Author: M. Govinda Rao
Publisher: Oxford University Press
ISBN: 0199087857
Category : Political Science
Languages : en
Pages : 400
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Book Description
This is a comprehensive work on India's fiscal federalism. The book surveys and analyses the evolution of fiscal federalism from the angle of political economy and brings to bear analytical skills of a very high order to assess and relate the political and administrative dimensions of India's federal system to fiscal federal issues. The authors present a synthesized framework, combining both economic and political elements in a political economy prism such as the Cente–State relations with not only the political perspectives but also the economic ones with the belief that only such a framework can provide a useful guide to implementable reform of policies.
Author: Ed. K.R. Gupta
Publisher: Atlantic Publishers & Dist
ISBN: 9788126904945
Category :
Languages : en
Pages : 392
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Book Description
In India, The Move Towards Globalisation And Free Trade Coincided With The Process Of Structural Reforms And Economic Liberalisation That Began In July 1991. Since Then The Country Has Seen A Significant Integration Of Markets In Commodity, Services, Finance And Technology With Other Countries. Right At The Outset Of Globalisation, Some Persons In India Like Those In Other Developing Countries Were Against This New Trend, Perceiving It As Elite-Driven And Incapable Of Bringing Qualitative Change In Peoples Lives. Fear Of Lagging Behind In The Race With The Advanced Countries, Which Would Ultimately Capture A Lion S Share In The Global Market, Had Further Led Some People To Oppose Globalisation.But The Present Scenario Is Altogether Different. India S Apprehensions About Globalisation Have Been Removed To Some Extent. Economic Liberalisation Has Paved Way For Rapid Technological Progress For India While Globalisation Has Given Its Young Talent Vast Employment Opportunities In America And Europe. Today, India Has Become A Big Market For Multinational Giants. There Is Hardly A Big-Name Company That Is Not Outsourcing To India. India Has Developed Several Hubs Of Information Technology-Enabled Services, Business Process Outsourcing, Research & Development, Pharmaceuticals And Telecommunication. On The Contrary, The Advanced Countries Like The United States Are Now Fearing Globalisation Because They Are Losing Jobs In The International Corporate World To Indian Technical Experts. Globalisation And Liberalisation Have Brought New Opportunities In Our Country In Trade, Business, Services And Employment. The Atmosphere Is Vibrant. The Younger Generation Is Educated, Talented And Ambitious. The Opening Of International Markets Has Led To Earnest Endeavours To Improve Product Quality To Secure Marketing. Internationalisation And Privatisation Of Education Has Led To Updating Of Curriculum And Bring Technical Manpower That Would Implement The Latest Technology In Manufacturing And Servicing. The Globalisation Should Be Made An Instrument Of Rapid Economic Development In A Way That Its Benefits Reach All Regions Of The Country And All Sections Of Society.The Volume Has Wide Coverage Including In Its Spectrum The Structural Changes In The Indian Economy. Contributors To This Volume Have Not Only Recognised The Reality Of Globalisation As A Process Of Change But Have Also Comprehensively Dealt With The Major Issues And Concerns For India In The Context Of Globalisation. The Papers Closely Examine Important Implications And Impact Of Liberalisation And Globalisation Measures Taken By The Government In Recent Years.It Is Hoped That The Book Would Be Found Useful By The Researchers And Students Of Economics, Businessmen, Government Executives, Parliamentarians And Legislators, Concerned With The Formulation And Execution Of Economic Policies, And The General Readers Interested In Knowing The Changes That Are Taking Place In Our Economy.
Author: Kulwant Rai Gupta
Publisher: Atlantic Publishers & Dist
ISBN: 9788171567065
Category : Economic development
Languages : en
Pages : 324
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Book Description
Six Years Have Passed Since The Fast Process Of Liberalisation And Globalisation Was Started In India In July 1991. The Book Examines The Achievements And Failures Of The Process Of Economic Reforms During This Period. It Makes Useful Suggestions To Make The Economic Reforms More Successful And Human. The Role Which The State Has To Play In Accelerating The Process Of Economic Development And In Lessening Social Tensions Involved In Rapid Economic Reforms Has Been Clearly Laid Down In Detail.The Book Studies The Experience Of Economic Reforms In Other Countries And The Lessons Which India Can Draw From That. It Also Examines The Role Which Multinationals Can Play In The Economic Development Of The Country.The Book Analyses The Impact Of Economic Reforms On The Agricultural Economy And The Cottage And Small Scale Sector. It Emphasises The Need For Greater Attention To These Sectors On Which Depends The Well Being Of An Overwhelming Portion Of The Population.A Host Of Issues Concerning The Process Of Liberalisation And Globalisation Have Been Examined By Fortyseven Economists Spread Over The Entire Country.The First Volume Was Published In 1995 And The Response Of Readers Was So Heavy That It Had To Be Reprinted Again. The Encouraging Response To The First Volume Has Led To The Publication Of The Second Volume.
Author: Govinda M. Rao
Publisher:
ISBN:
Category : Federal government
Languages : en
Pages : 31
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Book Description
Author: Baldev Raj Nayar
Publisher: Georgetown University Press
ISBN: 1626161089
Category : Political Science
Languages : en
Pages : 316
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Book Description
A common critique of globalization is that it causes economic segmentation and even disintegration of the national economy. Quite to the contrary, Baldev Raj Nayar provides a thorough empirical treatment of India’s political economy that challenges this critique by demonstrating that, on balance, both state and market have functioned to attenuate such a disintegrative impact and to accentuate economic integration. The active role of the Indian state in the areas of economic planning, fiscal federalism, and tax reform has resulted in improved economic integration and not increased segmentation. Similarly, his investigation of trade, investment, entrepreneurship, and migration suggests tendencies inherent in the market in favor of economic integration, especially when assisted by the state. While globalization has its benefits, such as higher economic growth, and costs, such as external shocks, Nayar’s findings show that India has benefited from globalization more than it has been victimized by it. Globalization and India’s Economic Integration shows how globalization’s pressures favoring efficiency paradoxically induced the state to push for consolidation on a pan-Indian scale in the area of fiscal federalism and to advance the cause of the common market through reforming the indirect tax system; meanwhile, the state has pressed forward with social inclusiveness as never before in its economic planning. For another, the market, too, has been instrumental, because of its widened scope and its inherently expanding character, in strengthening economic integration through trade expansion, diffusion of industry, and increased inter-state migration. Nayar’s groundbreaking work will interest students, scholars, and specialists of India, South Asia, globalization, and political economy.
Author: Biplab Dasgupta
Publisher: SAGE Publications Pvt. Limited
ISBN:
Category : Business & Economics
Languages : en
Pages : 292
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Book Description
In this comprehensive appraisal of Indian economic reforms, the author recounts how reforms were initiated and how they unfolded in stages since 1991. He analyzes all the components of the structural adjustment programme including in the agrarian, industrial, banking, public sector, fiscal reforms, trade, environmental and labour sectors. In keeping with his ideological and political convictions, the author questions the benefits of the reforms and argues that an uncritical acceptance of IMF/World Bank/WTO/ conditions has not served to benefit the majority of Indian society.
