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...

Uttar Pradesh most populous State experienced almost the same pattern of fiscal deterioration as did the other States. In the beginning of the nineties all the fiscal parameters were showing the deficit of significant magnitude. As there was no effort on the part of the State such imbalances...

This paper examines varies areas of India´s fiscal policy, in particular fiscal discipline, the structure of government spending, the tax system and fiscal federalism. It describes reforms over the past decades which, as part of the overall economic reform agenda, helped lifting the Indian...

Andhra Pradesh is one of the pioneering States to earnestly initiate economic and fiscal reform at the Subnational level in India. Prior to the 1996 reform program, the State's budgetary position was under severe stress as in many States in India. The economic growth was below potential,...

We study the sectoral allocation of public infrastructure investments in the agriculture and manufacturing sectors in India. In addition to the changing employment and output shares of these two sectors, the capital output ratio in agriculture in India has fallen, while it has risen in...

The global hegemony of Britain in the 19th century is hardly a disputed fact. As a global hegemon, it oversaw the transfer of surplus from the underdeveloped world to its shores. The transfer of surplus was important in maintaining its status as a hegemon. In this essay, I underline the need for...

This paper will put forward a number of economic considerations raised by the Russia-Ukraine conflict with the external strong participation, on the side of the latter, of the United States and its NATO allies. We begin with some observations regarding the United States, followed by the...