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The Nehru Development Model: History and Its Lasting Impact
Publisher:
India Viking
| Author:
Arvind Panagariya
| Language:
English
| Format:
Hardback
Publisher:
India Viking
Author:
Arvind Panagariya
Language:
English
Format:
Hardback
₹844
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Page Extent:
544
At Independence, Pandit Jawaharlal Nehru, India’s first prime minister, embarked upon a political and an economic project. His political project—to put India on the democratic path—was a resounding success.
This success, though, was marred by an equally resounding failure of Nehru’s economic project, built on the development of heavy industry, an expanding public sector, and relative isolation from world markets. It failed to produce the growth necessary to rid India of poverty and bequeathed an ethos that made a switch to an outward-oriented, pro-market economy a real challenge in the post-Nehru era. This line of thinking remains entrenched in the Indian political, intellectual, bureaucratic, and business constituencies.
This book by renowned economist and policymaker Arvind Panagariya is an attempt to systematically document the economic history of the Nehru era and its impact on contemporary economic thought and post-Nehru economic policymaking.
How did this system evolve? What was the influence of Nehru’s thinking on it? Above all, how did the economic history and thought of this era affect subsequent policymaking in India? These are the big questions that this volume attempts to answer.
Description
At Independence, Pandit Jawaharlal Nehru, India’s first prime minister, embarked upon a political and an economic project. His political project—to put India on the democratic path—was a resounding success.
This success, though, was marred by an equally resounding failure of Nehru’s economic project, built on the development of heavy industry, an expanding public sector, and relative isolation from world markets. It failed to produce the growth necessary to rid India of poverty and bequeathed an ethos that made a switch to an outward-oriented, pro-market economy a real challenge in the post-Nehru era. This line of thinking remains entrenched in the Indian political, intellectual, bureaucratic, and business constituencies.
This book by renowned economist and policymaker Arvind Panagariya is an attempt to systematically document the economic history of the Nehru era and its impact on contemporary economic thought and post-Nehru economic policymaking.
How did this system evolve? What was the influence of Nehru’s thinking on it? Above all, how did the economic history and thought of this era affect subsequent policymaking in India? These are the big questions that this volume attempts to answer.
About Author
Arvind Panagariya is chairman of the Sixteenth Finance Commission, Government of India, with the rank of a cabinet minister. He is also a professor of economics at the School of International and Public Affairs at Columbia University. He was the first vice chairman of the NITI Aayog, Government of India. He has authored over twenty books, published professional articles in all the top economics journals, and written for Foreign Affairs, Foreign Policy and the Wall Street Journal. In 2012, the Government of India awarded him with the Padma Bhushan, its third-highest civilian honour.
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