Bimal Jalan Knihy

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.

India's fundamentals are, no doubt, stronger now than ever before, but the country also faces several old and new challenges in the areas of politics, economics and governance.

The book explores India's economic evolution, examining the interplay between political and economic reforms from the pre-liberalization era to the present day. Bimal Jalan analyzes how these reforms have influenced inclusive and incremental growth, providing insights into the complexities of India's development journey.

Bimal Jalan, former Reserve Bank of India governor and Rajya Sabha MP places India's post-Independence strengths and weakness under a microscope and analyses the last four decades of India's economic journey, which saw the nation's transition from a strictly regulated, slow-growth, state-led enterprise to one of the fastest-growing economies in the world. Dr Jalan has had a ringside view of financial governance during his long and distinguished career. Drawing on this vast experience he compares two distinct periods-1980-2000 and 2000-15-to examine the core changes and their significance, and considers their lessons for the immediate future.Dr Jalan suggests measures to improve governance which, if implemented, could make India one of the fastest growing emerging global powers and ensure that the benefits of economic growth reach all her people.