‘The Political Economy of India’s Growth Episodes’ authored by Sabyasachi Kar and Kunal Sen and published in the SPERI Palgrave Pivot series was launched in New Dehli with a keynote speech by Dr Naushad Forbes, President of the Confederation of India Industry (CII). Read the coverage in the Asian Age: Post-Independence Growth gets a fresh perspective.
The book breaks down the last 65+ years of Indian development into several episodes of growth, providing a rich set of insights into the political economy of the Indian development process. The first of these episodes, running from the 1950s to 1992, was mostly characterised by economic stagnation, with a nascent recovery in the eighties. The second, covering the period 1993 to 2001, witnessed the first growth acceleration in the economy. A second acceleration ran from 2002 to 2010. The fourth and final episode started with the slowdown in 2010 and continues to this day. The book provides a theoretical framework that focuses on rent-structures, institutions and the polity and demonstrates how changes in these can explain the ups and downs of growth in India.