Chapter

Priorities for Further Reforms

Edited by Anne O. Krueger

in Economic Policy Reforms and the Indian Economy

Published by University of Chicago Press

Published in print July 2002 | ISBN: 9780226454528
Published online February 2013 | e-ISBN: 9780226454542 | DOI: http://dx.doi.org/10.7208/chicago/9780226454542.003.0010
Priorities for Further Reforms

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This chapter describes the current state of economic policy reform, the key areas where further reform is urgently needed if India is to sustain a 6–7 percent annual rate of economic growth, and some topics for further research. Indian economic policy reforms of the 1990s are best marked using the good news/bad news format. The first short-run threat to the sustainability of Indian economic growth—even at the 6 percent level—is the fiscal situation. Dereservation of small-scale industry (SSI) would surely enhance the functioning of not only the labor market but also the entrepreneurial market. Government delivery of education, health, agricultural research and extension, the judicial system, and other services can be greatly streamlined. It is noted that, as is befitting an academic conference, there are a large number of areas in which additional research could greatly inform the policy reform process.

Keywords: economic policy reform; India; economic growth; small-scale industry; labor market; education; health

Chapter.  3815 words. 

Subjects: International Economics

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