Book- Analysis the behaviour of all major macroeconomic variable and identifies three major issues for critical evaluation: Industrial recession, capital market collapse,global recession and war and its contagion effect on the Indian economy. The Review concludes further slowdown and increase in the GDP growth rate can be brought about only by improving the productivity of both labour and capital
B B Bhattacharya is a Director, Institute of Economic Growth. His specialization includes Macroeconomics, Monetary Economics, Public Finance, Development Economics, International Finance and Macro Economic modeling and forecasting. He has published seven books and more than fifty technical papers on these subjects in well-known journals in India and abroad. A leading expert on macro econometric forecasting in India, he served as the Honorary Secretary and Vice President of the Indian Econometric Society. Currently he is the Charmin of the Committee for Review of Capital Formation in Indian Agriculture and the Vice President of the Indian Association for Research in National Income and wealth. His views on economic and public policies are widely quoted in India and abroad.
N R Bhanumurthy is a faculty member in the Development Planning Centre, Institute of Economic Growth. His specialization includes International Money and Finance and Macro-Econometric modeling and forecasting.
N N Vohra, was a member of the Indian Administrative Service (1959-94), borne on the Punjab cadre. With the Government of India, he successively served as Secretary Defence Production, Defence Secretary and Home Secretary. On retirement he took over as Director, India International Centre (1995-97, 1998). In 1997 he was recalled to serve as Principal Secretary to the Prime Minister of India (1997-98). Member of the National Security Advisory Board (1998-2001), Chairman, National Task Force on Internal Security (2000) and C0-Chariman of the India-EU Round Table, has been writing on issues relating to security and good governance.
Preface, List of tables, Introduction, Production, Investment and employment, Behaviour of prices, Money, credit and interest, Fiscal balance, External sector performance, Causes of industrial recession, The capital market turmoil, Global recession, war and contagion effects, Macroeconomic forecasts, Conclusions, Comments made by the discussants on the review, appendix