THE FUTURE OF INDIAN ECONOMY

In 1991, when India faced a
major economic crisis, the government asked the International Monetary Fund
for a bailout loan. To prevent a repeat, the government introduced reforms in
the economy in accordance with the international trend of privatization and
globalization. This was a milestone as it changed Indian markets and the
financial sector in the country. Foreign direct investment was encouraged,
public monopolies were restricted and service and tertiary sectors were
developed. Since then, all sectors of the economy have changed their approach
and strategies.The economic reforms have completed twenty-five years and this
book debates on the achievements and failures of this policy. It draws upon
the research insights and opinions of academicians, scholars and practicing
managers who, apart from the analysis, also offer their views on the
corrective measures needed.