Reinventing Development Economics: Explorations from the Indian Experiment

There is no generic formula for growth and every country has specific characteristics and historical experiences that must be reflected in its growth story. It has now been widely recognized that inclusive growth is imperative for sustainability, so governments around the world are aware that even as they pursue economic growth they must make that growth process inclusive. This book explores the new aspects of development philosophy. Divided into six broad sections, it addresses the issues of growth and development, monetary policy, banking policy, fiscal policy, food security, and global environment with reference to the Indian economy. The underlying theme of all the articles in the volume is how to promote growth that is inclusive, equitable, and ultimately leads to the emergence of a value-based, compassionate society.

N. A. Mujumdar is a distinguished economist, the editor of the Indian Journal of Agricultural Economics, and a former principal advisor at the Reserve Bank of India. He is the author of several books, including Economic Reforms Sans Development, Inclusive Growth: Development Perspectives in Indian Economy,India’s New Development Agenda, Indian Agriculture in the New Millennium,and Some Problems of Underemployment.