The Gradual Revolution By Frrancine R. Frankel
The second edition of India’s Political Economy 1947-2004 The Gradual Revolution authored by Francine R. Frankel and published by Oxford University Press (2005) is a voluminous read at 788 pages covering the inception and development of the Indian political economy over a period of 57 years. The book is divided into sixteen well thought chapters each covering an important period in the development of the Indian economy in the light of prevalent historical and political arrangements.
e of the socialist rhetoric and intensifying struggle of interests among major sections of the population. From being faced with stagnation and economic failure in various sectors to strong political discontent within the party, the task before Mrs. Gandhi was …show more content…
In this particular chapter Frankel traces the slow progress towards economic liberalization. Major macro economic policies in the past had failed to bring about a well-diffused economic growth. However the Sixth Plan under the leadership of Rajiv Gandhi government showed signs that they was ready to go beyond the idea of limited liberalization, showing heavy dependence upon private investment. While talks of greater liberalization were underway unresolved conflicts of the past began to surface and impede the working of the government. They were criticised as being “pro rich”. The period of 1990-91 saw immense instability in government and failure to push forward reforms. In 1991 the Congress I came back to power and economic reforms were introduced under the able guidance of finance minister Dr. Manmohan Singh. While the initial crisis was averted, it was unable to initiate the second phase of reforms. Critics claimed that the government had sacrificed India’s economic independence to the IMF. The first decade of reforms showed a great improvement in the growth rate of the country, which was achieved without any great deal of external borrowing. India began to exhibit a unique service led growth with a massive growth in the sectors of Information Communication Technology. While the country was experiencing an overall growth, regional disparities continued to exist, as some states …show more content…
Each chapter could comprise a book in itself, such is the level of analysis. However while the in depth analysis is definitely praise worthy it is also a short coming of the book as it adds a whole lot of minute details, which at some points becomes difficult for the reader to keep note of. Secondly while chapters of the book are a continuation of one another there are portions where there is a considerable overlap of topics being discussed making it repetitive in some respects. Finally a better organisation of each chapter into smaller sub divisions would have made the book more reader friendly, as keeping track in a book as voluminous as this turns out to be considerably taxing. The book in many respects is also politically correct with absolute care being taken to not be controversial in the analysis; the critiques of Mrs. Gandhi’s policy, or the failure of Nehru or even for that matter the role of Sanjay Gandhi is discussed in the most academic manner avoiding any political controversy. Not withstanding the shortcomings, the book can be considered a bible for all novices attempting to study and grasp the intricacies of the Indian political
e of the socialist rhetoric and intensifying struggle of interests among major sections of the population. From being faced with stagnation and economic failure in various sectors to strong political discontent within the party, the task before Mrs. Gandhi was …show more content…
In this particular chapter Frankel traces the slow progress towards economic liberalization. Major macro economic policies in the past had failed to bring about a well-diffused economic growth. However the Sixth Plan under the leadership of Rajiv Gandhi government showed signs that they was ready to go beyond the idea of limited liberalization, showing heavy dependence upon private investment. While talks of greater liberalization were underway unresolved conflicts of the past began to surface and impede the working of the government. They were criticised as being “pro rich”. The period of 1990-91 saw immense instability in government and failure to push forward reforms. In 1991 the Congress I came back to power and economic reforms were introduced under the able guidance of finance minister Dr. Manmohan Singh. While the initial crisis was averted, it was unable to initiate the second phase of reforms. Critics claimed that the government had sacrificed India’s economic independence to the IMF. The first decade of reforms showed a great improvement in the growth rate of the country, which was achieved without any great deal of external borrowing. India began to exhibit a unique service led growth with a massive growth in the sectors of Information Communication Technology. While the country was experiencing an overall growth, regional disparities continued to exist, as some states …show more content…
Each chapter could comprise a book in itself, such is the level of analysis. However while the in depth analysis is definitely praise worthy it is also a short coming of the book as it adds a whole lot of minute details, which at some points becomes difficult for the reader to keep note of. Secondly while chapters of the book are a continuation of one another there are portions where there is a considerable overlap of topics being discussed making it repetitive in some respects. Finally a better organisation of each chapter into smaller sub divisions would have made the book more reader friendly, as keeping track in a book as voluminous as this turns out to be considerably taxing. The book in many respects is also politically correct with absolute care being taken to not be controversial in the analysis; the critiques of Mrs. Gandhi’s policy, or the failure of Nehru or even for that matter the role of Sanjay Gandhi is discussed in the most academic manner avoiding any political controversy. Not withstanding the shortcomings, the book can be considered a bible for all novices attempting to study and grasp the intricacies of the Indian political