Semester – V NMIMS

Course: Indian Economy I

B.Sc. (Economics)

Total 60 (Including Internal

Credit 4 Faculty Dr. Arpita Banerjee
Sessions Assessment times)

Course Objectives: Enable the students to critically analyse historical and contemporary issues of the Indian
economy.

· Equip the students to evaluate the merits and shortcomings of relevant policy strategies in the Indian context.

· To develop perspectives about various strategies adopted for the economic development of India.

Program Learning Goals: Analyse various socioeconomic issues pertaining to the Indian Economy.

• Apply economic theories to analyse issues in various subfields of economics

• Evaluate alternative economic policies

• Discuss/debate the optimum solution for various economic issues.

Course Outcomes: Students will: Get an in-depth understanding of the evolution of various economic
issues/outcomes in the Indian context.
Will be capable of critically evaluate recent policy debates and recent economic discourses in the Indian
context.

Evaluation Criteria

Components Weights

Continuous evaluation 50

Quiz 25

Presentation & Viva 15

Debate 10
 Session Plan
Session
No.
Theme Class Activity References Weightage

Marks-50

Tirthankar Roy (2021). Famines

in India: Enduring Lessons:
Introduction – Economic and Political Weekly.
Colonial Legacy: Vol (26)
1-4 The Impact of Class Discussion 5 Marks
Colonial Rule on Bipin Chandra, Mridula
the Indian Mukherjee, Aditya Mukherjee,
Economy India Since Independence, Penguin
Books: Chapter 2

Ravindra H Dholakia, R Nagaraj,

Manish Pandya Issues (2018).
Manufacturing Output in New
GDP Series Some Methodological
Economic and Political Weekly
Framework of the Class Vol. 53, Issue No. 35.
5-10 Indian Economy Discussion/Paper
(a) National income: Analysis J Dennis Rajakumar
Trends and (2017).Comparing IIP and NAS in 5 Marks
Structure of Their New Incarnations Economic
National Income and Political Weekly. Vol. 39.

Aanchal Magazine (2018).Simply

Put: This back series that back
series. The Indian Express.

11-15 Framework of the

Indian Economy Ejaz Ghani (April, 2021)
India Must make the most of its 5 Marks
demographic dividend. Mint
(b)
• Jinoy P Jose (April 2021). India
Demographic
will become an ageing society by
Features and Class 2040’. The Hindu Business Line.
Indicators of Discussion/Paper
Economic Analysis Amit Kapoor & Chirag Yadav
Development (May, 2021). India and the elusive
 demographic dividend. The
Economic Times.

Vamsi Vakulabharanam, Sripad

Motiram (2012).Understanding
Poverty and Inequality in Urban
India since Reforms Bringing
16-23 Framework of the Class Quantitative and Qualitative
Indian Economy Discussion/Paper Approaches Together. Economic
analysis and Political Weekly Vol. 47, Issue
(c) Poverty and No. 47-48.
Inequality 5 Marks

Vineet John Samuel (2019). What

is inequality? Oxfam India.

Savvy Soumya Misra & Tejas Patel

(2021). The Inequality Virus—
India Supplement 2021. Oxfam
India.

Maitreesh Ghatak (2021)

Does India Have An Inequality
Problem? BloombergQuint

24-27 Framework of the Class Udit Misra (2021): Why rising

Indian Economy Discussion/Paper
Analysis unemployment, not GDP growth, is 5 Marks
(c) Unemployment
the biggest challenge for India. The
Indian Express.
 Vrishti Beniwal. (2021). India’s
Unemployment Rate Set to Surge as
Virus Deepens Pain. Bloomberg.

Prachi Dutta and Rudrali Patil

(2021).How Do Unemployment
Benefits in India Fare against
Those in Other Countries? The
Wire.

Jayan Jose Thomas (2020).Labour

Market Changes in India, 2005–18
Missing the Demographic Window
of Opportunity? Economic and
Political Weekly, Vol (34).

Neetu Chandra Sharma (2020).

28-30 Regional Contrasts Class Discussion
Disparity between Indian states in
5 Marks
terms of children's health, says
report. Mint

Vikash Vaishnav and Varun

Kumar das (2021). Prosperous
Maharashtra, Karnataka hide a
disparity within. Development is
not for all. Study. The Print

Remya Nair (2021). State of the

states: NITI report shows who’s
rising, who’s lagging and the gap
in between. The Print.

Atul Kohli (2006). Politics of

31-38 Changing Group Economic Growth
Development work/Debate in India, 1980-2005 10 Marks
Strategies and Part I: The 1980s. ? Economic and
policy framework Political Weekly Vol. 41, Issue No.
over the years in
13
India
 Atul Kohli (2006). Politics of
Economic Growth
in India, 1980-2005
Part II: The 1990s and Beyond.
Economic and Political Weekly.
Vol. 41, Issue No. 14.

Balakrishnan, P. (2014). The great

reversal: A macro story. Economic
and Political Weekly, 29-34.

Uma Kapila (2019).Agriculture: Role

and Growth Performance. Green
Revolution.

Agriculture and Food

Management. Chapter (7).
Economic Survey of India (2020-
2021).

Industry and Infrastructure:

Chapter (8). Economic Survey of
India (2020-21).

Services Sector: Chapter (9).

Economic Survey of India (2020-
21).

Aiyar, S. S. (2011). The Elephant

39-47 Economic Reforms Class Discussion, That Became a Tiger: 20 Years of
Paper Economic Reform in India. Cato
Analysis/Debate Institute Development Policy
Analysis, (13).

Deepak Nayyar (2017). Economic

Liberalisation in India, Then and 10 Marks
Now. Economic and Political
Weekly, Vol 52, Issue no 52.

Nagaraj, R. (2017). Economic

reforms and manufacturing sector
growth. Economic and political
weekly 52(2), 61.

Shantanu De Roy (2017).Economic

Reforms and Agricultural Growth
in India. Economic and political
weekly Vol. 52, Issue No. 9.

Anand, Ishan & Azad, Rohit.

(2019). India's Slowdown: What It
Is and What Can Be Done.
Economic and political weekly. vol
(54). Issue No. 41.
 Class Sangeetha Ghosh (2020) 10 Marks
48-55 Covid-19 and the Discussion/Paper
‘Examining the Covid-19 Relief
Indian economy analysis.
Package for MSMEs’. Economic
and Political Weekly, Vol. 55,
Issue No. 22.

Sajjid Chinoy & Toshi Jain (2021).

Fiscal Policy and Growth in a Post-
COVID-19 World. Economic and
Political Weekly Vol (9).

Alok Sheel (2021). The Indian

Economy COVID-19 and Beyond.
Economic and Political Weekly.
Vol (21).
Total- 60
(Including
Rohit Idani. (2021).India’s already- Options)
stressed rural economy is getting
battered by the second wave of Covid-
19. Scroll.in

References/Books

1.Tirthankar Roy, The Economic History of India 1857-1947, Oxford University Press, 3rd edition, 2011.

2. Uma Kapila, editor, Indian Economy Performance and Policies. 19th edition, Academic Foundation.

3. India after Liberalisation: An Overview. Bimal Jalan. HarperCollins India, 2021.

4. D. Mazumdar and S. Sarkar, editors, Globalization, Labour Markets and Inequality in India, Routledge,
2008

5. An Uncertain Glory India and its contradictions, Jean Dreze and Amartya Sen, 2013

6. Reforms and Economic Transformation in India, Bhagwati and Panagariya, OUP, 2013

7. Bhagwati, Jagdish (2004); In Defense of Globalization, Oxford University Press U.K. 10. ILO 2004

8. Ahluwalia.I.J. and I.M.D. Little. India’s Economic Reforms and Development.

(Essays in Honour of Manmohan Singh), Oxford University Press, New Delhi. 1999

9. Economic Policy Reforms and the Indian Economy, (Edited by Anne O. Krueger) The University of
Chicago Press, 2002.

10. Economic Survey of India 2020-21.

11. Panagariya, A. India: The emerging giant. Oxford University Press, 2008
Readings:

1. The Indian Economy, Problems and Prospects, edited by Bipan Chandra, Penguin Books, 2004

2. India’s emerging Economy, Performance and Prospects in the 1990’s and beyond, edited by Kaushik
Basu, Oxford University Press, 2004

3. Select Essays on Indian Economy, C. Rangarajan, Academic Foundation, 2004

4. An Uncertain Glory: India and its contradictions, Jean Dreze and Amartya Sen, Allen lane, 2013

5. Reforms and Economic Transformation in India, Bhagwati and Panagariya, OUP, 2013

6. Why growth Matters, Jagdish Bhagwati and A Panagariya, Public Affairs, 2013

7. Reimagining India: Unlocking the Potential of Asia's Next Superpower, edited by Mc.Kinsey and Co.,
2013.

8. The Third Pillar: How Markets and the State Leave the Community Behind, Raghuram Rajan,

Harper Collins India, 2019.

Additional: Newspaper/ magazine articles and scholarly papers, would be given during the course.

Prepared by Approved by

Signature Signature
(Concerned Faculty/HOD) (Dean)