By Suman Bery, Barry P. Bosworth, Arvind Panagariya
A brand new annual book devoted to study at the modern Indian financial system. It offers a discussion board for addressing the scope, velocity, and desirability of financial reforms inside India and their primary affects at the country's social and fiscal welfare.
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Additional info for India Policy Forum 2004
36. “Baggage rules” are those applicable to imports entering India as a part of passengers’ baggage. Arvind Panagariya 25 In the same vein, not too long ago, telephone service was considered a luxury even among upper-middle-class Indians in urban areas, and they had to wait in long queues to obtain it. 37 In contrast, telephone service today, whether it be fixed line or cellular, is available on demand in most regions, and absence of a dial tone and inability to connect to the number dialed are no longer at issue.
48 The conventional productivity measures do not take this innovation-induced accumulation into account. 49 Empirical studies aimed at measuring TFP in India focus virtually exclusively on manufacturing and may be divided into two categories, those relying on industry-level data and those relying on firm-level data. Their findings are not unambiguous, because of differences in methodology, the unit of analysis, and the quality of the data, but the weight of the evidence is in favor of trade liberalization leading to productivity gains.
Around this time, under pressure from the United States, the World Bank also went back on its promise of $900 million in annual aid; this further strengthened the hands of the protectionist forces, which had more or less full control of the process in any case. See Joshi and Little (1994, chapter 4). 12. Bhagwati and Desai (1970, pp. 486–87). Arvind Panagariya 5 The late 1960s and early 1970s saw a reversal of the 1966 liberalization measures and a further tightening of the import controls. S. policy of isolating Prime Minister Indira Gandhi immediately before and after the Bangladesh war in 1971 drove her further toward economic isolationism.