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A lucid analysis of the 'revolutionary' changes in the Indian economy. In this important book two of India's leading economists rescue the current economic debate from jargon and dogma and present it in language accessible to ordinary Indians who, finally, must bear the brunt of the reforms. Cutting through the euphoria and hype that prevent any serious appraisal of liberalization, they highlight the advantages of a free market as also the grave dangers of unquestioning reliance on market forces in a developing country which is home to the largest number of the world's poor. They argue for a flexible system that will adapt to changes in society and polity, a system where both the market and the State must play a role. ' excellent primer to understand the intricacies of the process of liberalization of the Indian economy.' --The Tribune 'Amit Bhaduri and Deepak Nayyar have done nothing less than write the best book to be found anywhere so far on India's New Economic Policy.' --The Indian Express 'This is an unusual book on the logic, record and the future of economic liberalization in India. It succeeds where others have failed in presenting to a larger audience a critical evaluation of liberalization.' --The Hindu 'Finally an intelligible look at liberalization and the is difficult to overestimate the timeliness of this book.' --Outlook
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