This book is based on policy papers written during the nineties at the Ministry of Finance. The fundamental objective of economic policy is to generate equitable economic growth and thus bring about the increased well being of all citizens. The goal of these policy papers was to remove policy distortions that were hindering growth and productivity and to introduce economic and institutional reforms that would accelerate growth. The policy recommendations were shaped by theory and empirical evidence on the one hand, and by institutional/organisational and socio-political constraints on the other. The eighteen essays included in this book encompass a broad canvas: the new paradigm on which the reforms of 1991 were based and integrated policy framework that it entails; policies that have special relevance for ensuring growth with productive employment; macroeconomic reform issue related to the fiscal situation and the external accounts; problems and policies relating to different sectors such as agriculture, industry, telecom, power and urban.
Issues such as adoption of value added tax, capital account convertibility, FDI in media, which have been at the centre of public debate, have also been covered in this book.