Money and Finance in the Indian Economy

• Coherent macro-theoretic framework
• Identifies inter-sectoral linkages
• Diagnostic as well as prescriptive
• Written in a non-technical style
• Suitable as student reading

This volume analyses the diverse and often unexpected financial developments during the last 15 years of the post-reforms period. The essays provide an overview of the challenges faced by monetary and fiscal authorities under the rapidly changing domestic and international economic environment. With a focus on fiscal imbalances; monetary-cum-exchange rate policies, and management of cross-border capital flows, the volume deals with a wide-range of issues: 

• The transition from a period of credit rationing to a situation of demand constraint in the loan market 
• Fiscal problems with reference to the rising revenue and fiscal deficits such as debt financing, food subsidy and stock-piling of foodgrains, and fiscal correction measures. 
• External sector developments and their inter-relationship with other sectors of the macroeconomy. 
• The contribution of the banking sector towards economic growth and containment of financial volatility. 

The volume provides a fruitful analysis of these problems through the identification of inter-sectoral linkages in terms of a coherent macro-theoretic framework.

Readership: Undergraduate and postgraduate students and teachers of macroeconomics, Indian economy, development economics, finance, and politics.