- India and the World Economy, 1757–1947
- Battles Half Won: Political Economy of India's Growth and Economic Policy Since Independence
- Estimating Rural Poverty: Distributional Outcomes, Evaluations, and Policy Responses
- Microfinance: The Shg-Linkage Program
- Microinsurance: A Case Study of the Indian Rainfall Index Insurance Market
- Caste and Upward Mobility
- Performance of Indian Manufacturing in the Postreform Period
- Informal Sector and the Developing World: Relating Theory and Evidence to India
- Structural Transformation and Jobless Growth in the Indian Economy
- Development, Displacement, and Food Security: Land Acquisition in India
- Reforming Primary and Secondary Schooling
- Higher Education Reforms in India
- Health and Health Care Policy in India: The Case for Quality of Care
- Population Dynamics in India and Implications for Economic Growth
- The Dynamics and Status of India's Economic Reforms
- Political Economy of Infrastructure Spending in India
- Aspects of Bureaucratic Corruption
- Distributive Conflicts and Indian Economic Policy: Some Notes On Political Economy
- Economic Growth and Ecological Sustainability in India
- Fiscal Rules in India: are they Effective?
- Financial Frictions and Monetary Policy Transmission in India
- Monetary Policy, Capital Flows, and the Exchange Rate
- India's Trade and Exchange-Rate Policies: Understanding the Bop Crisis and the Reforms Thereafter
- Domestic Financial Sector Reforms
- The Convergence Debate and Econometric Approaches: Evidence from India
- The Globalization Debate and India
- India at the WTO: From Uruguay to Doha and Beyond
- An Estimated DSGE Model of the Indian Economy
- Development Patterns in China and India: Perspective with A Ces Production Function
- What More do we want to know about the Indian Economy?
Abstract and Keywords
This article highlights India's growing economic importance on the world stage and focuses on the recent and future course of the Indian economy. India's remarkable economic growth in recent years has made it one of the fastest growing economies in the world. In 2011, India ranked as the 11th largest economy in the world in nominal US dollars. With respect to purchasing power parity, India has the fourth largest economy in the world after the United States, China, and Japan. The immense optimism surrounding the Indian economy is underscored in the 2010 Economic Survey, which alludes to the strong possibility of double-digit growth in the coming decade. While India's economic growth has been impressive, rapid growth has been accompanied by a slow decline in poverty, widening regional disparities, and continuing sociopolitical instability. Large sections of the population continue to be deprived of basic health and education.
Chetan Ghate (Indian Statistical Institute, New Delhi)
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