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An Unkept Promise

An Unkept Promise
What Derailed the Indian Economy

December 2021 | SAGE Publications Pvt. Ltd
The COVID-19 pandemic hit the Indian economy that was already reeling under the shocks of demonetization and GST. The economy wasn’t robust to withstand a fresh shock. Has the ‘Tyrst with Destiny at Midnight’ soured?

An Unkept Promise: What Derailed the Indian Economy looks at some of the pre-pandemic economic decisions and the string of reforms implemented during the pandemic crisis such as new farm laws, new labour codes, decisions to privatize profitable public sector units and de-nationalize banks, and the proposed move to allow corporations to run banks. With hard evidence and data, the book tries to diagnose what has gone wrong and why? It also examines the role of key democratic institutions of checks and balances in policymaking such as Parliament, Niti Aayog, Supreme Court, media and citizenry. As cronyism grows and stock market booms, millions have lost their jobs and incomes, the book warns against neo-liberal economic thinking and suggests corrective measures to get the economy back on track.
Foreword by Pronab Sen
Institutional Vacuum
Masking the Reality
Demonetization: First Direct Shock to Economy and People
GST and Other Taxes: Second Shock and Setbacks
The Pandemic Catastrophe
AatmaNirbhar Bharat: Turning the Clock Black
New Farm Laws: Opening Farming to Corporate Sector
New Labour Codes: Weakening Workers, Empowering Employers
Banking ‘Reforms’: Risks to Finance
Privatization: Public Assets, Private Profits
Neoliberal Economics Masquerade
Reimagining Indian Economy
State of Economy and Future Growth

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ISBN: 9789354791864