India: a political economy of stagnation
Jha, Prem Shankar
India: a political economy of stagnation c.2 - Bombay Oxford University Press. 1980 - 311 p. : ill.
This book examines the problems of stagnation in the Indian economy, particularly at the end of the Third Plan around 1965. In contrast to the purely economic analyses to these questions, the author suggests that the answer might lie in the changes in the distribution of political power brought about by attempts to force the pace of economic development in the early sixties. The author stresses the role of the intermediate class' consisting of the self-employed in trade, manufacturing and service sectors, who were able to play a crucial role in pushing up the price levels and transferring the burden of inflation on to the shoulders of other groups in society. The intermediate class has further strengthened its position by effectively penetrating the bureaucracy and the political apparatus.
The book describes the role of the intermediate class in generating and thriving on inflation, the role of gold inflows into the country and their impact on rural saving and dissaving: it also describes the income flows in the 'parallel economy and money markets and examines their role on investments, trade and political power.
165611535
India- Economic policy
338.9 JHA
India: a political economy of stagnation c.2 - Bombay Oxford University Press. 1980 - 311 p. : ill.
This book examines the problems of stagnation in the Indian economy, particularly at the end of the Third Plan around 1965. In contrast to the purely economic analyses to these questions, the author suggests that the answer might lie in the changes in the distribution of political power brought about by attempts to force the pace of economic development in the early sixties. The author stresses the role of the intermediate class' consisting of the self-employed in trade, manufacturing and service sectors, who were able to play a crucial role in pushing up the price levels and transferring the burden of inflation on to the shoulders of other groups in society. The intermediate class has further strengthened its position by effectively penetrating the bureaucracy and the political apparatus.
The book describes the role of the intermediate class in generating and thriving on inflation, the role of gold inflows into the country and their impact on rural saving and dissaving: it also describes the income flows in the 'parallel economy and money markets and examines their role on investments, trade and political power.
165611535
India- Economic policy
338.9 JHA