The Political Economy of India&apos;s Postplanning Economic Reform: A Critical Review

Kalim Siddiqui, null

doi:10.13169/worlrevipoliecon.9.2.0235

ScienceOpen: research and publishing network

For Publishers

For Researchers

Blog
About

Search
Advanced search

818

views

recommends

If you have found this article useful and you think it is important that researchers across the world have access, please consider donating, to ensure that this valuable collection remains Open Access.

The World Review of Political Economy is published by Pluto Journals, an Open Access publisher. This means that everyone has free and unlimited access to the full-text of all articles from our international collection of social science journals. Furthermore Pluto Journals authors don’t pay article processing charges (APCs).

scite_

Smart Citations

Citing PublicationsSupportingMentioningContrasting

View Citations

See how this article has been cited at scite.ai

scite shows how a scientific paper has been cited by providing the context of the citation, a classification describing whether it supports, mentions, or contrasts the cited claim, and a label indicating in which section the citation was made.

Header Abstract Content Author and article information References Comments

World Review of Political Economy

Volume 9, Issue 2

Record: found
Abstract: found
Article: found

Is Open Access

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

Published

research-article

Author(s): Kalim Siddiqui

Publication date (Print): Summer 2018

Journal: World Review of Political Economy

Publisher: Pluto Journals

Keywords: Indian economy, neoliberalism, economic structuring, growth rates, poverty

Bookmark

Abstract

Content

Author and article information

Journal

Journal ID (doi): 10.13169

Journal ID (publisher-id): worlrevipoliecon

Title: World Review of Political Economy

Publisher: Pluto Journals

ISSN (Print): 2042891X

ISSN (Electronic): 20428928

Publication date (Print): Summer 2018

Volume: 9

Issue: 2

Pages: 235-264

Article

Publisher ID: worlrevipoliecon.9.2.0235

DOI: 10.13169/worlrevipoliecon.9.2.0235

SO-VID: b6bd1c6f-d4ce-44f3-82ef-3ef28db958ff

License:

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

References

All India Debt and Investment Survey. “NSS 70th Round.” 2016. Accessed April 3, 2018. www.icssr-dataservice.in/datarepository/index.php/catalog/106/overview.
Amsden, A. 2003. The Rise of “The Rest”—Challenges to the West from the Late Industrialising Economies . London: Oxford University Press.
Anand, I., and A. Thampi. 2016. “Recent Trends in Wealth Inequality in India.” Economic and Political Weekly 50 (50): 59–67.
Bagchi, A. K. 1976. “De-industrialization in India in the Nineteenth Century: Some Theoretical Implications.” Journal of Development Studies 12 (2): 135–164.
Balakrishnan, P. 2010. Economic Growth in India . New Delhi: Oxford University Press.
Bhaduri, A. 2008. “Predatory Growth.” Economic and Political Weekly 43 (16): 10–14.
Bhagwati, J. 1993. India in Transition: Freeing the Economy . Oxford: Clarendon Press.
Bhalotra, S. B. 1998. “The Puzzle of Jobless Growth in Indian Manufacturing.” Oxford Bulletin of Economics and Statistics 60 (1): 5–32.
Blyn, G. 1966. Agricultural Trends in India 1891–1947: Output, Availability and Productivity . Philadelphia: University of Pennsylvania Press.
Central Statistical Organisation. 2015. CSO Year Book . Accessed April 3, 2018. www.mospi.gov.in/central-statistics-office-cso-0.
Chandrasekhar, C. P. 2013. “Fragile Foundation: Foreign Capital and Growth after Liberalisation.” Social Scientist 41 (1/2): 17–33.
Chandrasekhar, C. P., and J. Ghosh. 2015. “Growth, Employment Patterns and Inequality in Asia: A Case Study of India.” ILO Asia-Pacific working paper series, ILO, Bangkok, Thailand. Accessed November 20, 2017. http://www.ilo.org/public/libdoc/ilo/2014/486985.pdf.
Forbes . 2016. “The World's Billionaires.” Accessed November 20, 2017. http://www.forbes.com/billionaires/.
Girdner, E. J., and K. Siddiqui. 2008. “Neoliberal Globalization, Poverty Creation and Environmental Degradation in Developing Countries.” International Journal of Environment and Development 5 (1): 1–27.
Joshi, V., and I. M. D. Little. 1994. India: Macroeconomics and Political Economy 1964–1991 . Washington, DC: Oxford University Press.
Kaldor, N. 1967. Strategic Factors in Economic Development . Ithaca: New York State School of Industrial and Labor Relations, Cornell University.
Krueger, A. 1987. “Rent Seeking.” In The New Palgrave: A Dictionary of Economics , vol. 4, edited by J. Eatwell, M. Milgate and P. Newman, 147–149. London: Macmillan.
Lewis, W. A. 1954. “Economic Development with Unlimited Supplies of Labor.” Manchester School of Economic and Social Studies 22 (2): 400–451.
Lomborg, B. 2016. “Feeding Infants Well Starts a Virtuous Circle.” Hindustan Times , December 30. Accessed June 10, 2017. http://www.hindustantimes.com/opinion/india-s-survey-to-measure-child-nutrition-levels-is-an-excellent-step-forward/story-MNcpqANR7jzZkh0t942liL.html.
Maddison, A. 1995. Monitoring the World Economy, 1820–1992 . Paris: Development Centre of the OECD.
Nagaraj, R. 2017. “Economic Reforms and Manufacturing Sector Growth: Need for Reconfiguring the Industrialisation Model.” Economic and Political Weekly LII (2): 61–68.
National Commission for Enterprises in the Unorganised Sector. 2009. The Challenge for Employment in India: An Informal Economic Perspective . Vol. 1. New Delhi: National Commission for Enterprises in the Unorganised Sector.
Nayyar, D. 2017. “Economic Liberalisation in India: Then and Now.” Economic and Political Weekly LII (2): 41–48.
Nicholas, H. 2005. “Introduction: Putting Industrialization Back into Development.” Development and Change 36 (6): 1031–1033.
Nurkse, R. 1953. Problems of Capital Formation in Underdeveloped Countries . Oxford: Basil Blackwell.
Patnaik, P. 2013a. “Finance and Growth under Capitalism.” In Non-mainstream Dimensions of Global Political Economy , edited by B. Dasgupta, 12–22. Oxford: Routledge.
Patnaik, P. 2013b. “Independent India at Sixty-Five.” Social Scientist 41 (1/2): 5–15.
Patnaik, P. 2014. “Imperialism and Agrarian Question.” Agrarian South: Journal of Political Economy 3 (1): 1–15.
Patnaik, P. 2015. “The Nehru-Mahalanobis Strategy.” Social Scientist 43 (3/4): 3–10.
Rodrik, D. 2002. “After Neoliberalism, What?” Harvard University working paper series. Accessed June 10, 2017. http://cemi.ehess.fr/docannexe/file/2787/rodrik2002.pdf.
Rodrik, D. 2011. The Globalisation Paradox: Democracy and the Future of the World Economy . New York: W.W. Norton.
Rodrik, D. 2016. “Premature Deindustrialization.” Journal of Economic Growth 21: 1–33.
Routray, S. 2015. “The Post-Development Impasse and the State in India.” Third World Quarterly 36 (10): 1906–1921.
Siddiqui, K. 1998. “‘Agricultural Exports, Poverty and Ecological Crisis’: Case Study of Central American Countries.” Economic and Political Weekly 33 (39): A128–A136.
Siddiqui, K. 1999. “New Technology and Process of Differentiation: Two Sugarcane Cultivating Villages in UP, India.” Economic and Political Weekly 34 (52): A39–A53.
Siddiqui, K. 2009. “The Political Economy of Growth in China and India.” Journal of Asian Public Policy 1 (2): 17–35.
Siddiqui, K. 2012. “Developing Countries Experience with Neoliberalism and Globalisation.” Research in Applied Economics 4 (4): 12–37.
Siddiqui, K. 2014. “Contradictions in Development: Growth and Crisis in Indian Economy.” Economic and Regional Studies 7 (3): 82–98.
Siddiqui, K. 2015. “Challenges for Industrialisation in India: State versus Market Policies.” Research in World Economy 6 (2): 85–98.
Siddiqui, K. 2016a. “A Study of Singapore as a Developmental State.” In Chinese Global Production Networks in ASEAN , edited by Y.-C. Kim, 157–188. London: Springer.
Siddiqui, K. 2016b. “International Trade, WTO and Economic Development.” World Review of Political Economy 7 (4): 424–450.
Siddiqui, K. 2016c. “Will the Growth of the BRICs Cause a Shift in the Global Balance of Economic Power in the 21st Century?” International Journal of Political Economy 45 (4): 315–338.
Siddiqui, K. 2017a. “Capital Liberalization and Economic Instability.” Journal of Economics and Political Economy 4 (1): 659–677.
Siddiqui, K. 2017b. “Globalization, Trade Liberalisation and the Issues of Economic Diversification in the Developing Countries.” Journal of Business & Economic Policy 4 (4): 1–16.
Siddiqui, K. 2017c. “Hindutva, Neoliberalism and the Reinventing of India.” Journal of Economic and Social Thought 4 (2): 142–186.
Srinivasan, T. N. 1993. “Demand Deficiency and Indian Industrial Development.” In Development and Change: Essay in Honour of K. N. Raj , edited by P. Bardhan, M. Datta-Chaudhuri, and T. N. Krishnan, 246–264. New Delhi: Oxford University Press.
Stiglitz, J. 2010. Freefall: America, Free Markets, and the Sinking of the World Economy . New York: W.W. Norton.
United Nations Industrial Development Organisation. 2012. International Yearbook of Industrial Statistics . Accessed November 22, 2017. https://www.unido.org/resources/publications/flagship-publications/international-yearbook-industrial-statistics.
Williamson, J. 1990. The Progress of Policy Reforms in Latin America . Washington, DC: Institute for International Economics.
World Bank. 2016. “Dancing with the Giants: China, India, and the Global Economy.” World Bank Report. Accessed June 10, 2017. https://openknowledge.worldbank.org/handle/10986/6632.
Yeldan, Y. 2006. “Neoliberal Global Remedies: From Speculative-Led Growth to IMF-Led Crisis in Turkey.” Review of Radical Political Economics 38 (2): 193–213.

Comments

Comment on this article

[1] All India Debt and Investment Survey. “NSS 70th Round.” 2016. Accessed April 3, 2018. www.icssr-dataservice.in/datarepository/index.php/catalog/106/overview.

[2] Amsden, A. 2003. The Rise of “The Rest”—Challenges to the West from the Late Industrialising Economies . London: Oxford University Press.

[3] Anand, I., and A. Thampi. 2016. “Recent Trends in Wealth Inequality in India.” Economic and Political Weekly 50 (50): 59–67.

[4] Bagchi, A. K. 1976. “De-industrialization in India in the Nineteenth Century: Some Theoretical Implications.” Journal of Development Studies 12 (2): 135–164.

[5] Balakrishnan, P. 2010. Economic Growth in India . New Delhi: Oxford University Press.

[6] Bhaduri, A. 2008. “Predatory Growth.” Economic and Political Weekly 43 (16): 10–14.

[7] Bhagwati, J. 1993. India in Transition: Freeing the Economy . Oxford: Clarendon Press.

[8] Bhalotra, S. B. 1998. “The Puzzle of Jobless Growth in Indian Manufacturing.” Oxford Bulletin of Economics and Statistics 60 (1): 5–32.

[9] Blyn, G. 1966. Agricultural Trends in India 1891–1947: Output, Availability and Productivity . Philadelphia: University of Pennsylvania Press.

[10] Central Statistical Organisation. 2015. CSO Year Book . Accessed April 3, 2018. www.mospi.gov.in/central-statistics-office-cso-0.

[11] Chandrasekhar, C. P. 2013. “Fragile Foundation: Foreign Capital and Growth after Liberalisation.” Social Scientist 41 (1/2): 17–33.

[12] Chandrasekhar, C. P., and J. Ghosh. 2015. “Growth, Employment Patterns and Inequality in Asia: A Case Study of India.” ILO Asia-Pacific working paper series, ILO, Bangkok, Thailand. Accessed November 20, 2017. http://www.ilo.org/public/libdoc/ilo/2014/486985.pdf.

[13] Forbes . 2016. “The World's Billionaires.” Accessed November 20, 2017. http://www.forbes.com/billionaires/.

[14] Girdner, E. J., and K. Siddiqui. 2008. “Neoliberal Globalization, Poverty Creation and Environmental Degradation in Developing Countries.” International Journal of Environment and Development 5 (1): 1–27.

[15] Joshi, V., and I. M. D. Little. 1994. India: Macroeconomics and Political Economy 1964–1991 . Washington, DC: Oxford University Press.

[16] Kaldor, N. 1967. Strategic Factors in Economic Development . Ithaca: New York State School of Industrial and Labor Relations, Cornell University.

[17] Krueger, A. 1987. “Rent Seeking.” In The New Palgrave: A Dictionary of Economics , vol. 4, edited by J. Eatwell, M. Milgate and P. Newman, 147–149. London: Macmillan.

[18] Lewis, W. A. 1954. “Economic Development with Unlimited Supplies of Labor.” Manchester School of Economic and Social Studies 22 (2): 400–451.

[19] Lomborg, B. 2016. “Feeding Infants Well Starts a Virtuous Circle.” Hindustan Times , December 30. Accessed June 10, 2017. http://www.hindustantimes.com/opinion/india-s-survey-to-measure-child-nutrition-levels-is-an-excellent-step-forward/story-MNcpqANR7jzZkh0t942liL.html.

[20] Maddison, A. 1995. Monitoring the World Economy, 1820–1992 . Paris: Development Centre of the OECD.

[21] Nagaraj, R. 2017. “Economic Reforms and Manufacturing Sector Growth: Need for Reconfiguring the Industrialisation Model.” Economic and Political Weekly LII (2): 61–68.

[22] National Commission for Enterprises in the Unorganised Sector. 2009. The Challenge for Employment in India: An Informal Economic Perspective . Vol. 1. New Delhi: National Commission for Enterprises in the Unorganised Sector.

[23] Nayyar, D. 2017. “Economic Liberalisation in India: Then and Now.” Economic and Political Weekly LII (2): 41–48.

[24] Nicholas, H. 2005. “Introduction: Putting Industrialization Back into Development.” Development and Change 36 (6): 1031–1033.

[25] Nurkse, R. 1953. Problems of Capital Formation in Underdeveloped Countries . Oxford: Basil Blackwell.

[26] Patnaik, P. 2013a. “Finance and Growth under Capitalism.” In Non-mainstream Dimensions of Global Political Economy , edited by B. Dasgupta, 12–22. Oxford: Routledge.

[27] Patnaik, P. 2013b. “Independent India at Sixty-Five.” Social Scientist 41 (1/2): 5–15.

[28] Patnaik, P. 2014. “Imperialism and Agrarian Question.” Agrarian South: Journal of Political Economy 3 (1): 1–15.

[29] Patnaik, P. 2015. “The Nehru-Mahalanobis Strategy.” Social Scientist 43 (3/4): 3–10.

[30] Rodrik, D. 2002. “After Neoliberalism, What?” Harvard University working paper series. Accessed June 10, 2017. http://cemi.ehess.fr/docannexe/file/2787/rodrik2002.pdf.

[31] Rodrik, D. 2011. The Globalisation Paradox: Democracy and the Future of the World Economy . New York: W.W. Norton.

[32] Rodrik, D. 2016. “Premature Deindustrialization.” Journal of Economic Growth 21: 1–33.

[33] Routray, S. 2015. “The Post-Development Impasse and the State in India.” Third World Quarterly 36 (10): 1906–1921.

[34] Siddiqui, K. 1998. “‘Agricultural Exports, Poverty and Ecological Crisis’: Case Study of Central American Countries.” Economic and Political Weekly 33 (39): A128–A136.

[35] Siddiqui, K. 1999. “New Technology and Process of Differentiation: Two Sugarcane Cultivating Villages in UP, India.” Economic and Political Weekly 34 (52): A39–A53.

[36] Siddiqui, K. 2009. “The Political Economy of Growth in China and India.” Journal of Asian Public Policy 1 (2): 17–35.

[37] Siddiqui, K. 2012. “Developing Countries Experience with Neoliberalism and Globalisation.” Research in Applied Economics 4 (4): 12–37.

[38] Siddiqui, K. 2014. “Contradictions in Development: Growth and Crisis in Indian Economy.” Economic and Regional Studies 7 (3): 82–98.

[39] Siddiqui, K. 2015. “Challenges for Industrialisation in India: State versus Market Policies.” Research in World Economy 6 (2): 85–98.

[40] Siddiqui, K. 2016a. “A Study of Singapore as a Developmental State.” In Chinese Global Production Networks in ASEAN , edited by Y.-C. Kim, 157–188. London: Springer.

[41] Siddiqui, K. 2016b. “International Trade, WTO and Economic Development.” World Review of Political Economy 7 (4): 424–450.

[42] Siddiqui, K. 2016c. “Will the Growth of the BRICs Cause a Shift in the Global Balance of Economic Power in the 21st Century?” International Journal of Political Economy 45 (4): 315–338.

[43] Siddiqui, K. 2017a. “Capital Liberalization and Economic Instability.” Journal of Economics and Political Economy 4 (1): 659–677.

[44] Siddiqui, K. 2017b. “Globalization, Trade Liberalisation and the Issues of Economic Diversification in the Developing Countries.” Journal of Business & Economic Policy 4 (4): 1–16.

[45] Siddiqui, K. 2017c. “Hindutva, Neoliberalism and the Reinventing of India.” Journal of Economic and Social Thought 4 (2): 142–186.

[46] Srinivasan, T. N. 1993. “Demand Deficiency and Indian Industrial Development.” In Development and Change: Essay in Honour of K. N. Raj , edited by P. Bardhan, M. Datta-Chaudhuri, and T. N. Krishnan, 246–264. New Delhi: Oxford University Press.

[47] Stiglitz, J. 2010. Freefall: America, Free Markets, and the Sinking of the World Economy . New York: W.W. Norton.

[48] United Nations Industrial Development Organisation. 2012. International Yearbook of Industrial Statistics . Accessed November 22, 2017. https://www.unido.org/resources/publications/flagship-publications/international-yearbook-industrial-statistics.

[49] Williamson, J. 1990. The Progress of Policy Reforms in Latin America . Washington, DC: Institute for International Economics.

[50] World Bank. 2016. “Dancing with the Giants: China, India, and the Global Economy.” World Bank Report. Accessed June 10, 2017. https://openknowledge.worldbank.org/handle/10986/6632.

[51] Yeldan, Y. 2006. “Neoliberal Global Remedies: From Speculative-Led Growth to IMF-Led Crisis in Turkey.” Review of Radical Political Economics 38 (2): 193–213.