Indian economy

Indian Economy, in its nineteenth edition, contains several new topics. These include human development index; industrial sickness; new fiscal policy; tax reforms; agricultural income tax etc. The 1993-94 budget of the Central Government has also been referred to at several places in the chapters on public finance. Quite many changes by way of recasting the material and reinterpretation of facts have been made in the context of the on going structural reforms of the economy. The entire book has been revised extensively and updated with the latest available data. The policy announcements made in the current year in the fields of foreign trade, exchange rate, financial system etc., have been incorporated in several chapters. The various problems of the country have been analysed within the frame of the theory of underdevelopment and development discussed in the first two chapters of the book. The two chapters that follow dwell upon the past of the economy under the British rule, and its present state. The productive capacity of the economy has been described and assessed in chapters in natural resources, population, -Iabour-force, infrastructure and physical and human capital. This is followed by a study of the country's national income its industrial
origin, its distribution and poverty. Sectoralproblems bearing on growth and modernisation of agriculture, industries and services have been dealt with in several chapters. Much attention has been given to current problems like price-rise, deficits in balance of payments, fiscal deficits, unemployment, land reforms including the subject of efficiency and farm-size, industrial sickness, foreign direct investments, debt burden, convertible rupee system etc. At" the end several aspects of planning have been dealt with. These pertain to features. and objectives of planning strategy and financing of plans, as also the new economic policy. The
progress of the economy under planning has been critically examined in a separate chapter. In another chapter the various provisions and policies of the Eighth Five Plan Plan have been described and critically evaluated.