BECE-002 Indian Economic Development - Issues and Perspectives (BA)
This unit outlines the growth performance in each plan, the shifts in plan priorities and strategies, and the shifts in major economic policies leading to the present regime of economic reforms with a central place to market induced investment and growth.
In this unit, we discuss: (i) the principles on which the devolution of functions and revenue sharing is based; (ii) the types of fiscal imbalance that arises in the process and methods by which fiscal adjustment are sought to be established; and (iii) the institutional arrangements that exist in India to recommend the norms for effecting fiscal transfers and allocate the budgetary resources among the states in the federal system.
In this unit, we first review the state of finances of each of tiers of government. We then analyse the trends in their aggregate tax revenue and expenditure patterns. We finally make an evaluation of the trends of public debt and discuss the associated policy issues.
In the present unit, we deal with the reasons behind low productivity in Indian agriculture and examine the different areas of reforms that would have a bearing on increasing productivity like size of holdings, land reforms, organic/contract farming, futures trading, subsidies, crop insurance, trade, etc.