The Nehru-era economic history and thought and their lasting impact / Arvind Panagariya.

Format:

Book

Author/Creator:

Panagariya, Arvind, author.

Series:

Oxford scholarship online.

Oxford scholarship online

Language:

English

Subjects (All):

Nehru, Jawaharlal, 1889-1964.

Nehru, Jawaharlal.

India--Economic conditions--1947-.

India.

India--Economic policy.

India--Politics and government--1947-.

Physical Description:

1 online resource (353 pages)

Edition:

1st ed.

Place of Publication:

New York, NY : Oxford University Press, [2024]

Summary:

This text examines the evolution of Nehru's economic philosophy with socialism, self-sufficiency, & heavy-industry development at its core. Through extensive archival research, Arvind Panagariya reconstructs & reinterprets this history, paying attention to the administrative processes deployed to implement policies, contemporary economic thought, & important historical events not adequately covered in the existing literature. He assesses the evolution of Nehru's own political beliefs & the construction of the Nehru development model, the resulting regime & exclusionary nature of economic growth, & the lasting intellectual legacy of the Nehru-era socialism on politicians, civil servants, policy analysts, & businesspeople in the six decades since Nehru's death. This book tells the tale of a model with the near-unanimous approval of experts from all around the world at its inception & the impact of its failure.

Contents:

Cover

Half Title

Title Page

Copyright Page

Dedication

Contents

Figures and Tables

Preface

1 Introduction

The Economic Thought: Nehru and His Contemporaries

Economic History: Policies and Their Implementation

Economic History: Outcomes and Analysis

Concluding Remarks

Notes

Part I The Economic Thought: Nehru and Others

2 Nehru: From Radical to Fabian Socialist

Not an Early Convert to Fabian Socialism

Conversion to Radical Socialism

Critical Role of the Deliberations in the National Planning Committee

A Shift to a More Moderate Socialism

Explaining the Shift

Nehru's Personal Views Less Moderate Than the Initial Policy

Compromise Not Alien to Nehru

3 The Nehru Development Model

Objectives

Strategy

Instruments

4 Other Contemporary Influential Voices

Mahalanobis and the Draft Plan-Frame

Memorandum By the Panel of Economists

Dissent From Within the Panel

Foreign Experts

Industrialists: The Bombay Plan

Forum of Free Enterprise

Part II The Economic History: Implementation and Outcomes

5 Industrial and Labor Policies

Industrial Policy

Labor Policy

6 Implementation: Target-Setting and Industrial Licensing

The Planning Commission and Target-Setting

The Choice Between Public and Private Sector

Industrial Licensing

Price and Distribution Controls

7 A Liberal Import Regime: 1882-1956

From Free Trade to Modest Tariff Protection: 1882-1940

The Advent of Foreign-Exchange-Cum-Import Control Regime: 1940-45

A Liberal Beginning in the Post-Independence Era: 1945-56

8 A Highly Restrictive Import Regime: 1957 to 1964

Import Policy Tightens.

A Digression to the Devaluation Debate

The Import Licensing Regime

Imports Under the Established Importer License

Allocation of Foreign Exchange

Pitfalls of the System and Its Efficiency Implication

9 Export and Foreign Investment Policies

The First Half of the Twentieth Century

The Planning Era: 1951-66

Export Performance and Policies

Foreign Investment Policy

10 Growth, Industrialization, and Poverty

Growth

Composition of Output and Employment Across Broad Sectors

Structure of Organized Industry

Agriculture: Food Grain Production

Export Performance

Import Performance

Poverty Alleviation

Education

A Critical Examination

Part III The Lasting Impact

11 The Political Leadership I: 1950-84

Jawaharlal Nehru: No Retreat Until the End

Lal Bahadur Shastri: A Champion of Agriculture, But . . .

Indira Gandhi: The Ultimate Socialist

Morarji Desai: Nothing Conservative About Him

Indira Gandhi Returns: A Liberal This Time Around?

12 The Political Leadership II: 1985-2023

Rajiv Gandhi: A Leader Without Socialist Baggage at Last

The Door to Liberal Ideas Opens

V. P. Singh and Chandra Shekhar: Two Short-Lived Governments

P. V. Narasimha Rao: A Decisive Turn to the Markets

The Post-Narasimha Rao Era

13 Institutions and the Business Community

Institutions

Business Community

14 Economists and Other Policy Analysts

The Early Decades: 1950-80

The Door Opens to the Liberal Economists Within the Government: 1980-90

Reforms Spawn New Reform Champions: 1991-2004

The Narrative Changes Yet Again: 2004-14

The Pro-Reform Narrative Triumphs Again: 2014-22.

Concluding Remarks

15 An Afterthought

Appendix 1 Statement of Industrial Policy, April 1945

Government Assistance to Industry

Licensing of Industry

Other Controls

Appendix 2 Government of India Resolution On Industrial Policy, 6 April 1948

Appendix 3 Industrial Policy Resolution, 30 April 1956

Appendix 4 Statement Made By The Prime Minister in The Constituent Assembly of India (Legislative)

6 April 1949

References

Index.

Notes:

Includes bibliographical references and index.

Description based on online resource and publisher information; title from PDF title page (viewed on June 13, 2024).

ISBN:

9780197774649

0197774644

9780197774625

0197774628

OCLC:

1439098654