An inward-looking economy with a State-dominated development programme to a liberalized economy operating in a globalized world—India has indeed come a long way since Independence. In this volume, Bimal Jalan—long-standing witness to India’s trajectory through the decades—gives us a complete picture of the country’s economic journey so far.
In the pages of this book we read about broad issues of development policy, the role of science and technology, exchange rate management, globalization and more—all significant themes in the ongoing debate on India’s approach to economic reforms towards 2025 and beyond. Based on extensive research and data, and aided by Jalan’s experience as the former governor of the Reserve Bank of India, this book, more importantly, also gives us a vision for the way ahead.
As India—and indeed the world—faces challenging times, the recounting of tales from India’s economic history, when accompanied by the observations and wisdom of a senior economist like Bimal Jalan, can help allay fears and give optimism for the times to come.