This paper brings analytical economics to bear on some of the central economic policy challenges faced by contemporary India; monetary policy for controlling inflation, central bank exchange rate interventions and fiscal policy for promoting growth. Government, by giving orchestrated guarantees...

This paper is a short history of the Indian economy since 1968. India today is a changed country from what it was half a century ago, when Myrdal published his Asian Drama. The stranglehold of low growth has been broken, its population below the poverty line has fallen markedly, and India has...