Chapter

Questions in the Post-1991 Reforms Process

Suresh D. Tendulkar and T.A. Bhavani

in Understanding Reforms

Published in print August 2012 | ISBN: 9780198085584
Published online September 2012 | e-ISBN: 9780199082087 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198085584.003.0001
Questions in the Post-1991 Reforms Process

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This chapter provides a set of coherent and plausible clues towards unscrambling the puzzling features of the Indian reform process, while addressing the challenging questions in political economy and institutional analysis that they pose. India’s low-growth distributional equilibrium was disturbed despite a stepped-up growth rate of GDP in the 1980s by the entry of numerically large groups of farmers and small-scale industrialists/traders. The disturbed distributional equilibrium of the 1980s opened a window of opportunity for the post-1991 reforms, which form the theme of the remaining chapters, along with the questions they raise. The author investigates the context, timing, and direction of the macro-level reform process and shows how these were basically the result of interaction amongst individual growth-promoting reform initiatives that try to produce micro-level structural adjustments in the economy. An overview of the rest of the chapters in this book is also presented in this chapter.

Keywords: reforms; liberalization; structural adjustments; coalition politics; Nehruvian socialism; economic growth

Chapter.  2868 words. 

Subjects: Economic Development and Growth

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