Overview

Based on extensive research and data, and aided by Bimal Jalan's experience as the former Governor of the Reserve Bank of India, this book gives us a vision for the way ahead. Since 2014, the political profile of the Indian Union government has changed dramatically. After a long period of coalitions and their innate issues and delays they bring to the reform process, we have a government that has a majority on its own. This puts India in a great place to initiate some strong, much-needed political and economic reforms in order to promote overall national interests. Before diving in, it is important to look back and learn from our past experiences, so that we don't repeat the same mistakes. And who better than Bimal Jalan to take us through India's economic past. Divided into two sections, 'Learning from our Economic Past' and 'Beyond the Metrics of Economy', the essays in this volume cover a range of topics-from economic and political reforms to good governance-and a recounting of the lessons they provide is bound to contribute immensely to the contemporary debate about India's approach to its economy and political reforms in the twenty-first century. 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. As Indians, and indeed the world, face 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.

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