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Development Challenges of India After 25 Years of Economic Reform

In: Development Challenges of India After Twenty Five Years of Economic Reforms

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  • Ashok K. Lahiri

    (Member 15th Finance Commission, Government of India)

Abstract

Performance of Indian economy in post-reform period may be considered to be gratifying if compared with pre-reform period. But, if compared with other comparable countries, it is sobering only. After 25 years of economic reforms, there are some critical challenges to be faced in near future. Fiscal rectitude is the most important challenge. The policy also needs to settle the question of ‘market failure’ versus ‘state failure’. Agricultural reforms, availability/waiver of farm loans, role of minimum support price and creation of physical and social infrastructure are going to be key questions in future.

Suggested Citation

  • Ashok K. Lahiri, 2020. "Development Challenges of India After 25 Years of Economic Reform," India Studies in Business and Economics, in: Nripendra Kishore Mishra (ed.), Development Challenges of India After Twenty Five Years of Economic Reforms, pages 33-50, Springer.
    • Handle: RePEc:spr:isbchp:978-981-15-8265-3_3
    DOI: 10.1007/978-981-15-8265-3_3
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