IDEAS home Printed from https://ideas.repec.org/a/sae/reorpe/v56y2024i3p380-404.html
   My bibliography  Save this article

India’s Economic Growth since the 1980s and the Role of the State: An Alternative Perspective

Author

Listed:
  • Saswata Guha Thakurata

Abstract

It is imperative to explore the contribution of the Indian state to the country’s impressive long-term growth performance during the free-market era, given the looming demand deficiency problem arising from this iniquitous growth process. Drawing on Marx’s idea of circuit of capital, this article investigates the various ways in which the state contributes to the process of accumulation and economic growth, especially in the context of India during the period of market-oriented reforms. Additionally, this study aims to trace the changing nature of interventions of the Indian state to ascertain the domain and extent of its withdrawal and continued presence. Furthermore, it investigates the interventions undertaken by the Indian state to sustain or cushion the growth momentum at times of economic downturn during the free-market era. JEL Classification : B51, E62, O11, P16

Suggested Citation

  • Saswata Guha Thakurata, 2024. "India’s Economic Growth since the 1980s and the Role of the State: An Alternative Perspective," Review of Radical Political Economics, Union for Radical Political Economics, vol. 56(3), pages 380-404, September.
    • Handle: RePEc:sae:reorpe:v:56:y:2024:i:3:p:380-404
    DOI: 10.1177/04866134241232492
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/04866134241232492
    Download Restriction: no
    File URL: https://libkey.io/10.1177/04866134241232492?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    free-market; Indian state; economic growth; accumulation; circuit of capital;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:reorpe:v:56:y:2024:i:3:p:380-404. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://www.urpe.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.