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- W634377181 abstract "Since the post reform period in the mid 1990s India has experienced aggregate economic growth of 5–8 per cent per year and along with China has emerged as a global player. Unlike China though, where the economic liberalisation began in 1979, India’s reform process was launched in response to the fiscal and Balance of Payment (BoP) crisis in 1991. The appropriateness of the inward looking policy stance based on Import Substitution (ISI) and controlled economy adopted since her independence in 1947, had begun to be questioned in the 1980s. The limitations of the model over the years in all aspects of the economy led to the near collapse of the fiscal and the monetary systems by the beginning of the 1990s. The reforms were therefore wide ranging, targeting trade, industry and the financial sector.1 The opening up of the economy resulted in a decade of high aggregate growth per year, per capita income growth of 3–5 per cent a year and a doubling of GDP per capita over the period (Purchasing Power Parity [PPP], 1985 base year; World Bank, 2001). Poverty, income and social poverty in the country though remains high." @default.
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- W634377181 date "2009-01-01" @default.
- W634377181 modified "2023-10-16" @default.
- W634377181 title "Does FDI Reduce Poverty? Case Studies from India" @default.
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- W634377181 doi "https://doi.org/10.1057/9780230228412_10" @default.
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