Reforming India’s External, Financial, and Fiscal Policies

Author: Anne O KruegerSajjid Z Chinoy/Editor(s): Anne O Krueger / Sajjid Z ChinoyPublisher: Oxford University PressYear: 2004Language: EnglishPages: 248ISBN/UPC (if available): 0195668251 DescriptionThis book examines some of the complex issues facing post-reforms India. Contributors-including eminent academics, CEOs, and policy-makers-analyse the complexities and loopholes in India’s reforms journey. They discuss why, after unprecedented GDP growth in the 1990s, the reforms process has lost steam, and suggest corrective measures needed to redress the situation.Looking at India in the international context, the volume examines policies towards global trade and capital inflows, including issues in exchange-rate policy. The contributors concur that for India to transform into an outward-looking economy, it needs:Reduction in the mean level of import dutiesRelaxation in the sectoral cap on foreign direct investmentMarket-determination of forex rate and depreciation in the real exchange ra