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Chapter 5 - Breaking the mould? Economic growth since 1980

Published online by Cambridge University Press:  05 April 2013

B. R. Tomlinson
Affiliation:
School of Oriental and African Studies, University of London
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Summary

Economic growth in India has accelerated dramatically since 1980 and has been sustained without any serious interruptions. Per capita national income began to rise steadily in the 1980s and 1990s, and took off to unprecedented levels during the first decade of the new millennium. The pattern of growth in the Indian economy was driven by the dynamism of the services sector increased agricultural output, industrial production or commodity exports. India achieved the goal of food security in the 1970s. The development of manufacturing industry in the period of economic reforms was initially shaped by the long years of planning for a self-reliant economy. The growth of the service sector has been the most distinctive feature of the Indian economy over the last thirty years. The policy reforms of the 1980s and 1990s had their origins in a series of decisions to stimulate economic growth as a way of solving the entrenched economic and political problems of the 1970s.
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The Economy of Modern India
From 1860 to the Twenty-First Century
, pp. 182 - 229
Publisher: Cambridge University Press
Print publication year: 2013

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