Iconisation of Chandrababu: sharing sovereignty in India's federal market economy
By: Rudolph, Lloyd I.
Contributor(s): Rudolph, Susanne Hoeber.
Material type:
ArticlePublisher: 2001Description: p.1541-552.Subject(s): Economic growth - India | Economic growth
In:
Economic and Political WeeklySummary: The dawn of liberalisation in the early 1990s saw the gradual emergence of a federal market economy, with decision-making powers shared between the centre and states. A measure of economic sovereignty and decentralisation has now placed the onus on state chief ministers to effect economic growth in their respective states. Not only do they need to negotiate a path that avoids undue capitulation to populist pressures; to invite private investment, they must work in consonance with the centre's new role as a regulator and fiscal disciplinarian and deal with the hard-budget constraints demanded by the faceless, international credit-rating agencies. - Reproduced
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Articles
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Indian Institute of Public Administration | Volume no: 36, Issue no: 18 | Available | AR48585 |
The dawn of liberalisation in the early 1990s saw the gradual emergence of a federal market economy, with decision-making powers shared between the centre and states. A measure of economic sovereignty and decentralisation has now placed the onus on state chief ministers to effect economic growth in their respective states. Not only do they need to negotiate a path that avoids undue capitulation to populist pressures; to invite private investment, they must work in consonance with the centre's new role as a regulator and fiscal disciplinarian and deal with the hard-budget constraints demanded by the faceless, international credit-rating agencies. - Reproduced
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