After the initiation of economic reforms in 1991, India's economy has been growing faster than its historical growth rate. The country's Tenth Five Year Plan (2002-07) recorded an annual growth rate of 7.2% and the underway Eleventh Five Year Plan (2007-12) aims to achieve a 9.0% growth rate per annum. However, the pattern of economic reforms over the last 20 years have left in its trail a variety of inequalities which have caused socio-political tensions. Some states in India have surged ahead while others lag behind. While the economy has performed well in terms of the growth rate of gross domestic product, the performance in terms of human development indicators has been unsatisfactory.
Economic reforms have not paid adequate attention to health and education sectors. The industrial growth of India is becoming elite-oriented by registering relatively large increases in the production of commodities consumed by wealthy people. It is noteworthy that 70% of India's population still lives in rural areas. India's recent economic growth performance is creditable. However, is has not made any demonstrable difference to the lives of the poorest and the vulnerable sections of society.
This book contains 12 research papers which provide deep insights into India's recent growth pattern and its deficiencies. |
