Editor – Yashwant Sinha and Vinay K. Srivastava
Rating – 5/5 stars
Number of Pages – 376
Publisher – Rupa Publications
Economists say that if India won its political Independence in 1947, it won its economic independence in 1991. India faced a serious economic crisis in that year. It all started in July 1991 with a major fall down of the economy resulted in introducing trend of privatization and globalization. The book discusses the tumultuous year of 1991 and reforms brought after to free domestic economy.
The book is divided into three parts – Revisiting Pre- And Post-Liberalization India – discusses the economic crisis of 1991 and the reforms introduced. Fiscal, Budgetary and Capital Market Reforms – discusses the policies, issues, and challenges faced by the country and suggestive measures. Public Sector Enterprises and Disinvestment – reforms and disinvestment in the public sector, government policies and trade policies.
The book has essays discussing the achievements and failures and corrective measures needed. The essays are contributed by distinguished authors from politics, government, academia, economists, civil servant, analysts, such as C.Rangarajan – former governor of RBI and held several key positions, U.K. Sinha – Chairman of Securities and Exchange Board of India (SEBI), Rajat Kathuria – Director and Chief Executive at Indian Council for Research on International Economic Relations (ICRIER), New Delhi.
It’s been more than twenty-five years since July 1991, when economic liberalization began in India. The year 1991 is important in regard to the history of Indian economy. India faced a serious economic challenge that brings reforms that changed Indian markets and the financial sector in the country. The book is a detailed analysis of reforms, policies, shortcomings, and challenges ahead. The book is an excellent and interesting read for the economists, journalists, students, concerned citizens and one who like to be well informed.
Yashwant Sinha is a veteran politician and a senior leader of the Bharatiya Janata Party (BJP). He is credited with preparing the blueprint for the 1991 economic reform of India as part of his Union Budget.
Sinha taught political science at the University of Patna till 1960 before he joined the Indian Administrative Service. In 1984, he resigned from the service and joined politics as a member of the Janata Party. He worked as the Union Minister of Finance from November 1990 to June 1991 in Chandra Shekhar’s Cabinet. He later joined the BJP and became its national spokesperson in 1996. He served as the Union Minister of Finance (1998-2002) and External Affairs (2002-04).
Vinay K. Srivastava is presently working as Dean and Associate Professor, Raffles University, Neemrana. He is the author of Privatisation of Public Enterprises in India (2007) and is the editor of Public Enterprises and Changing Scenario (2014). With 16 years of experience in academic, Srivastava has published more than 65 articles in various journals, magazines, and newspaper. He is the founder and managing editor of Arash: A journal of ISMDR and Raffles Business Review.
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‘I received a copy from Publisher in exchange for an honest and unbiased review.’