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Ideology and Economic Policy

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  • Raj Krishna

Abstract

Any attempt to understand the rich and complex experience of India's partially planned economic development under a democratic regime must transcend narrowly defined economic and demographic variables. This paper explores the ideological basis of economic policy in India so as to explain India's developmental experiment in its conception, execution and fruition. The present analysis indicates the reduced government monopoly, efficient management of the public sector and a rationalization of the control structure would significantly help industrial growth in India. The enlightened self interest of the rich in the long run lies in the elimination of a mass poverty and consequently a booming market for mass consumption goods.

Suggested Citation

  • Raj Krishna, 1988. "Ideology and Economic Policy," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 23(1), pages 1-26, January.
    • Handle: RePEc:dse:indecr:v:23:y:1988:i:1:p:1-26
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    Cited by:

    1. Dilip Dutta, 2002. "Effects of Globalisation on Employment and Poverty in Dualistic Economies: The Case of India," ASARC Working Papers 2002-08, The Australian National University, Australia South Asia Research Centre.
    2. Pulapre Balakrishnan, 2007. "Visible hand: Public policy and economic growth in the Nehru era," Centre for Development Studies, Trivendrum Working Papers 391, Centre for Development Studies, Trivendrum, India.

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