Sectoral growth and change : essays in honour of Dr. D. T. Lakdawala

Development strategies and economic policies have undergone considerable change in India. The earlier development strategy regarded saving and investment as major constraints. economic on growth. The new development strategy recognised the multiple constraints on growth like those in agriculture and foreign exchange, besides saving con straint. Controls in the fields of industry and trade has been liberalised with ul timate objective of allocating resources through market process though with sufficient government regulation to ease the transition process, particularly for employment, protect the weaker sections of the society and environment.

The set of papers in this volume, at tempt to analyse the sectoral aspects of development with respect to policies and performance in India. In the new trade policy regime with liberalised tariff rates and non-tariff rates and new pric ing policy, exports and sectoral growth rates are expected to rise. It has been shown that import restrictions adversely affected output in the manufacturing sector. With increasing openness of the economic system, productivity levels in the agricultural sector will have to be raised. The focus is on agro-climatic planning, management of land, water and energy resources for sustainable development. Analysis of technology policy and reaction with respect to ex panding industries (Electronics) and stagnating industries (Textiles) highlight the problems of economic transforma tion. It is to be noted that sectoral growth is as important as macro economic performance for balanced economic growth with equity and stability.