Mid-Year Review of the Indian Economy 2002-2003, , Suman K. Bery, , N.N. Vohra, Shipra Publications, 8175411368

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Mid-Year Review of the Indian Economy 2002-2003

Suman K. Bery (Author) N.N. Vohra (Editor)

Synopsis The present Mid-Year Review of the Indian economy is strategically timed to provide a critical analysis of trends in the current fiscal year before budget preparations for the next year get underway. It attempts to analyse the economyâ€™s present cyclical position against the background of performance over the last decade. The medium-term projections provide a real GDP growth of 6 percent, well below the target for the Tenth Five-Year Plan. The forecast for the current year places overall real GDP growth at 4.8 per cent with the major contributions coming from services and industry. At the macro level, it points to a slow down in investment growth and the need for reviving the investment climate. At the sectoral level the unsatisfactory performance of agriculture in the 1990s has come as a disappointment since, with a more liberalised trade policy environment, it was expected to benefit positively. A mixture of good and bad news, this review assesses the prospects for the Indian economy for 2002-03 and presents a medium-term view on growth. The forecasts are based on the macroeconomic models developed by the NCAER.

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About the authors

Suman K. Bery

Suman K. Bery is Director General of the National Council of Applied Economic Research, New Delhi, since January 2001. Prior to this assignment, he was at the World Bank as the Lead Economist for Brazil, and also Division Chief at the former Economic Development Institute (now the World Bank Institute) with an active programme in China; Secretary to the Bankâ€™s Research Committee. He has done work on Latin America, specifically on Argentina, Uruguay, Paraguay, Ecuador and Peru, and country work on Iran, Yugoslavia, Tanzania and Jamaica. Between 1992 and 1994 he held the position of Special Consultant to the Governor of the Reserve Bank of India. His publications include papers on Indian financial sector reforms; reforms of public sector banks; banking crises in Latin America and the political economic reform in developing countries.

N.N. Vohra

N.N. Vohra was a member of the Indian Administrative Service (1959-94), born on the Punjab cadre. During his tenure with the government of India, he successively served as Secretary Defense Production, Defence Secretary and Home Secretary. After retirement he worked as Director, India International Centre (1995-97, 1998-2003). Was recalled to serve as Principal Secretary to the Prime Minister of India (1997-98). Has been Member of the National Security Advisory Board (1998-2001); Chairman, Committee to Review Functioning of IDSA (1999-2001); Chairman, National Task Force History Review Committee (2001-02); Co-Chairman, India-EU Round Table (2001-). Writes and speaks on issues relating to security and governance. Presently engaged as Government of Indiaâ€™s Interlocutor on Jammu and Kashmir.

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