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Kerala PSC Indian Economy Book Study Materials Page 151Book's First Page
6 6.1 C h a p t e ronomi e orms Economic REfoRms An important feature of India’s reform programme, when compared with reforms underway in many other countries, is that it has emphasised gradualism and evolutionary transition rather than rapid restructuring or ‘shock therapy’. This gradualism has often been the subject of unfavourable comment by the more impatient advocates of reform, both inside and outside the country.* In This Chapter... Introduction Privatisation Economic Reforms Globalisation Economic Reforms in India Generations of Economic Reforms Liberalisation The Reform Approach * Montek S. Ahluwalia Addressing at the inaugural session of the Seminar on ‘India’s Economic Reforms’, Merton College, Oxford University, London, June 1993.