Economic policies and India's reform agenda: new thinking Reddy, Y. V.

Navigating through the debates between 2010 and 2012 on the continuing global financial crisis, Economic Policies and India’s Reform Agenda: New Thinking reflects the confidence of the former central banker who steered the nation’s banks to safer waters. Reddy seeks a change in economic thought and policy-making. Arguing for a three-fold shift in the discipline, he calls for broadening the focus of policy-makers, improvisation in the tools employed by economists and an emphasis on empirical evidence. This ‘new thinking’, he says, will contribute to India’s accelerated development. New Thinking addresses three concerns of economic thought for a developing economy: public policy after the crisis, the role of the financial sector in development, and the lessons learnt from world economies. Novel in approach, this volume critically examines India’s development strategies and suggests a ‘redefining’ of the role of the financial sector in accelerating development. The author’s observations on other developing economies and analyses of the diverse uncertainties enable a comprehensive understanding of the influence of global factors on the reform agenda for India.