Comprehensive Book List on India’s Budget and Economy

Understanding India’s budget and economy is crucial for policymakers, economists, and anyone interested in the nation’s financial landscape. Below is a curated list of important books that provide valuable insights into various aspects of India’s budgetary and economic policies.

Reading List on India’s Budget and Economy

1. “India’s Economic Policy: Preparing for the Future” by Arvind Panagariya

Context: Comprehensive analysis of India’s economic policies, addressing challenges and suggesting future strategies.

2. “Indian Economy: Performance and Policies” by Uma Kapila

Context: A detailed examination of the Indian economy’s performance and the impact of various policies.

3. “Budget 2023-24: Unraveling India’s Fiscal Priorities” by Economic Times

Context: In-depth coverage and analysis of the annual budget, unraveling fiscal priorities for the upcoming year.

4. “The Indian Fiscal System: A Comprehensive Guide” by M. L. Mathur

Context: A guide delving into the intricacies of India’s fiscal system, covering taxation, expenditure, and fiscal reforms.

5. “India’s Economic Reforms and Development: Essays for Manmohan Singh” edited by Isher Judge Ahluwalia

Context: Essays exploring the economic reforms in India, with a focus on the contributions of Dr. Manmohan Singh.

6. “Economic Survey of India” by Ministry of Finance, Government of India

Context: An official publication providing an in-depth analysis of the economic developments and policy initiatives in India.

7. “The Budgetary Process in India” by Bimal Jalan

Context: Examining the intricacies of the budgetary process in India, offering insights into decision-making and resource allocation.

8. “India’s National Budget: A Blueprint for Growth” by C. Rangarajan

Context: Analyzing the national budget as a blueprint for economic growth, with a focus on key policy measures.

9. “Fiscal Policy in India: Trends and Trajectory” by Montek Singh Ahluwalia

Context: A critical assessment of India’s fiscal policy trends, exploring their impact on economic trajectory.

10. “Indian Economy: Problems of Development and Planning” by D. Mishra

Context: Addressing development challenges in the Indian economy, with a focus on planning and policy issues.

11. “Budget and Economic Survey: Decoding India’s Financial Landscape” by Rajiv Mehrishi

Context: Decoding India’s financial landscape through an exploration of budgetary aspects and economic surveys.

12. “India’s Economic Development: Strategies for the New Millennium” by S. P. Gupta

Context: Strategies and approaches for economic development in the new millennium, considering India’s unique challenges.

13. “Public Finance in India” by R. K. Lekhi

Context: A comprehensive examination of public finance in India, covering taxation, public expenditure, and fiscal policies.

14. “Economic Policies and Performance in India” by Deepak Nayyar

Context: Analyzing economic policies and their impact on India’s overall economic performance.

15. “India’s Economic Challenges” by Bibek Debroy

Context: Exploring the various economic challenges faced by India and proposing potential solutions.

16. “Goods and Services Tax: Journey of One Nation, One Tax” by Arun Jaitley

Context: A detailed account of the journey and implementation of the Goods and Services Tax (GST) in India.

17. “Economic Reforms in India: From First to the Second Generation and Beyond” by Jagdish Bhagwati

Context: Tracing the evolution of economic reforms in India, examining both the first and second-generation reforms.

18. “Budgetary Politics in India” by Sudipta Adhikari

Context: Exploring the political dimensions of budgetary processes in India, shedding light on the intersection of politics and economics.

19. “India’s Fiscal Federalism” by Y. V. Reddy and Sajal Lahiri

Context: Examining the dynamics of fiscal federalism in India and its implications for economic governance.

20. “Economic Planning in India: Issues and Challenges” by K. N. Raj

Context: Analyzing the issues and challenges associated with economic planning in India, offering insights into the planning process.

21. “Financial Inclusion in India: Policies and Practices” by R. K. Uppal

Context: Examining the policies and practices promoting financial inclusion in India and their impact on the economy.

22. “Indian Financial System: Structure and Functions” by H. R. Machiraju

Context: Providing an overview of the structure and functions of the Indian financial system, crucial for understanding economic dynamics.

23. “Economic Development in India: Challenges and Prospects” by Amartya Sen and Jean Drèze

Context: Addressing the challenges and prospects of economic development in India through the lens of renowned economists.

24. “Monetary Policy in India: A Modern Macroeconomic Perspective” by Urjit R. Patel

Context: A modern perspective on monetary policy in India, exploring its role in shaping the macroeconomic landscape.

25. “India’s Trade Policy: A Comprehensive Analysis” by Biswajit Dhar

Context: A comprehensive analysis of India’s trade policies, examining their impact on the economy and global interactions.

Important Questions Related to Exams

1. Question: What is the primary purpose of fiscal policy?

    • a) Monetary stability
    • b) Price control
    • c) Economic growth and stability
    • d) Social welfare

2. Question: Which economic indicator measures the average change in prices of a basket of consumer goods and services over time?

    • a) GDP
    • b) Inflation rate
    • c) Unemployment rate
    • d) Exchange rate

3. Question: What does the term “GDP per capita” represent?

    • a) Total national income
    • b) Average income per person
    • c) Government spending
    • d) Gross investment

4. Question: In the context of international trade, what does the term “trade deficit” indicate?

    • a) Exports exceeding imports
    • b) A balanced trade situation
    • c) Imports exceeding exports
    • d) Zero trade activity

5. Question: Which organization is responsible for issuing currency notes in India?

    • a) Reserve Bank of India (RBI)
    • b) State Bank of India (SBI)
    • c) Ministry of Finance
    • d) Securities and Exchange Board of India (SEBI)

6. Question: What is the main objective of the Goods and Services Tax (GST) in India?

    • a) Increase tax rates
    • b) Simplify the tax structure
    • c) Encourage tax evasion
    • d) Eliminate indirect taxes

7. Question: What does the term “repo rate” refer to in the context of monetary policy?

    • a) Interest rate at which banks borrow from the central bank
    • b) Interest rate on loans to the public
    • c) Rate of inflation
    • d) Exchange rate fluctuations

8. Question: Which economic concept measures the percentage increase in the general level of prices for goods and services over a period?

    • a) Recession
    • b) Inflation
    • c) Deflation
    • d) Stagflation

9. Question: What is the purpose of the World Trade Organization (WTO)?

    • a) Military alliance
    • b) International economic cooperation
    • c) Environmental protection
    • d) Cultural exchange

10. Question: What is the role of the Reserve Bank of India (RBI) in the Indian economy?

  • a) Fiscal policymaking
  • b) Regulation of banks and monetary policy
  • c) Infrastructure development
  • d) Foreign affairs coordination

Kindly share your responses in the comment section!!

Piyush Shukla

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