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      The Political Economy of India's Postplanning Economic Reform: A Critical Review

      research-article
      World Review of Political Economy
      Pluto Journals
      Indian economy, neoliberalism, economic structuring, growth rates, poverty
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            Abstract

            A quarter of a century has passed since neoliberal economic policies were first adopted in India in 1991, and it is timely to review their outcome. The study is important because there currently seems to be a gap in the literature since most published research has highlighted India's overall GDP growth rates. In the postplanning reform period, India reduced the role of the state and public sector and dismantled controls, while increasing the role of the market and private sector within the economy. As a result, foreign capital investment and foreign exchange reserves improved. The study intends to examine what happened to the industrial sector after neoliberalism was adopted. This article primarily focuses on the discourse about neoliberal economic policy and its effects on Indian economy, especially, in the context of sectoral change. The article centres on a critical review of the available literature and a contribution to the substantive topics indicated in the title. The study contributes to the existing literature by focusing on the industrial and the agricultural sector, which has been neglected by the mainstream economists who have focused largely on growth rates.

            Content

            Author and article information

            Journal
            10.13169
            worlrevipoliecon
            World Review of Political Economy
            Pluto Journals
            2042891X
            20428928
            Summer 2018
            : 9
            : 2
            : 235-264
            Article
            worlrevipoliecon.9.2.0235
            10.13169/worlrevipoliecon.9.2.0235
            b6bd1c6f-d4ce-44f3-82ef-3ef28db958ff
            © 2018 World Association for Political Economy

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

            History
            Categories
            Articles

            Political economics
            Indian economy,poverty,growth rates,economic structuring,neoliberalism

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