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It also discusses the report of the Fourteenth Finance Commission in detail. The last chapter of this part focuses on the issues related to federal finance in India. The chapter on ‘India’s Fiscal Policy’ in addition to discussing the various aspects of fiscal policy as is being implemented in India, examines the issue of fiscal responsibility in detail. This is followed by a discussion of public expenditure and public debt in India. In this part, we start with a discussion of the Indian tax structure. Part VII on ‘Public Finance’ contains five chapters. It starts with a discussion of the problem of inflation in India and then takes up the discussion of Indian money market, expansion and progress of commercial banking in India, Reserve Bank of India and a critical appraisal of its monetary policy, development of capital market in India and steps taken to strengthen this market in recent years (including steps taken by SEBI) and institutional financing. Part VI on ‘Money and Banking’ consists of six chapters. We critically examine the overall working of the WTO and also take up for discussion India’s new product patent regime. The last two chapters of this part discuss in detail the opportunities and challenges that the Indian economy faces in the new global environment. Part V of the book concerns ‘Foreign Trade and Foreign Capital.’ Consisting of eight chapters, it starts with a discussion of the changes in the composition and direction of India’s foreign trade, and then proceeds to a discussion PREFACE TO THE THIRTY THIRD EDITION (vi) of India’s balance of payments, trade policy, policy relating to foreign capital, exchange rate and capital account convertibility, MNCs (including a discussion on FERA and FEMA), etc. Part 5 – FOREIGN TRADE AND FOREIGN CAPITAL The last chapter in this part (Chapter 35) discusses the growth of the services sector and related issues. This is followed by a discussion of small-scale industries, industrial policy, role and performance of public sector enterprises, the issue of privatization in public sector enterprises, role of the private sector in the Indian economy, CSR (corporate social responsibility), the problem of industrial sickness, and various issues relating to industrial labor (including exit policy). It starts with a discussion of industrial development during the period of planning and then proceeds to discuss some major industries of India. Part IV on ‘The Industrial Sector and Services in Indian Economy’ consists of ten chapters. Part 4 – THE INDUSTRIAL SECTOR AND SERVICES IN INDIAN ECONOMY We then proceed to a discussion of agricultural production and productivity trends, progress and failures in the field of land reform, green revolution and its impact on the rural economy of the country, agricultural finance and marketing, agricultural prices and agricultural price policy, the food security system in India, and agricultural labor. It starts with a discussion of the role, nature and cropping pattern of Indian agriculture and then takes up for discussion the issues in Indian agricultural policy (including a review of the new global opportunities and challenges facing Indian agriculture in the wake of the various agreements concluded under WTO). Part III of the book ‘Basic Issues in Agriculture’ consists of nine chapters. It is devoted to the discussion of various issues relating to the nature of the Indian economy including the natural resources and ecological issues, infrastructural development, population problem, poverty and unemployment, income growth and inequalities, etc. Part II discusses the ‘Structure of the Indian Economy’ and consists of thirteen chapters. It discusses the concepts of economic growth and development, common characteristics of underdeveloped countries, the role of economic and non-economic factors in economic development, the concept of human development, human development index, gender inequality index, multidimensional poverty index, etc., and issues concerning the relationship between environment and development. Part I of the book ‘Economic Development: A Theoretical Background’ is divided into three chapters. Indian Economy by Mishra and Puri 35th edition Part 1 – ECONOMIC DEVELOPMENT: A THEORETICAL BACKGROUND Many Toppers like Akshat Jain, Tina Dabi, Anu Kumari suggested this book for the preparation of UPSC.
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