Papers presented at the National Seminar on Disinvestment Programme in India, held at Jabalpur during 21-22 January 2005.

Over the past decade India has been undertaking a programme of economic reform, and at the same time the economy has been growing at a high rate. As part of the reform programme, and in line with prevailing economic thinking, India has been privatising its large, ungainly public sector. One assumption underlying this programme is the dogma that public sector enterprises are doomed to inefficiency, and that competitive market forces can be relied on to make firms more efficient once they are privatised. But is this really true? Combining rigorous data analysis with case studies to provide a balanced evaluation of the process of deregulation and privatisation within the overall context of economic reforms, the author demonstrates, remarkably, that, contrary to the prevailing view, private sector firms do not outperform public sector firms across all sectors. He also shows that revenue-raising considerations have weighed more heavily with the government than efficiency objectives. Overall, this study of the reform process in India, with its unique longstanding mix of private and public sectors, will be of great interest to all those studying reform and transition worldwide.

Privatization of Public Enterprises: Trends and Issues This book presents a critical assessment of India's disinvestment exercise initiated as part of the larger economic reforms in 1991. The macro-economic crisis of the 1980s exposed the excessive expansion of Public Sector Enterprises (PSEs) which manifested a number of weaknesses in their performance. This domestic crisis was converted into an opportunity when a massive programme of disinvestment of PSEs was launched in a phased manner. A number of PSEs were privatized through the sale of equity to the public. The purpose of the reform was to limit their size and redefine their role to enhance productivity and efficiency. This study intends to review the functioning of the disinvestment drive on empirical grounds. To be precise, it examines to what extent the disinvestment of PSEs is successful on the parameter of financial efficiency, modernization, employment generation, regional imbalance, utilization of proceeds, and methods of privatization. The book provides insight for researchers and policymakers working on this current subject.

This festschrift volume presents discussions on contemporary issues in international economics and finance. It is aimed to serve as a reference material for researchers. There are two broad sections of the book -- International Macroeconomics and International Finance. The chapters in the International Macroeconomics section discuss critical topics like aggregate level macro model for India with a new Keynesian perspective, balance of payments, service sector exports, foreign exchange constraints for import demands, foreign direct investment and knowledge spill over, the relationship between forex rate fluctuation and investment, Institutional quality-trade openness-economic growth nexus, currency crises and debt-deficit relationship in the BRICS countries in the backdrop of COVID-19. Apart from these, various analytical issues related to macroeconomic policies are also covered in this section. The topics discussed includes the nature of forex market interventions, the issue of disinvestment and privatization, changing nature of fiscal policy, the inflation-growth nexus, macroeconomic simulation modelling, measuring core inflation, central bank credibility, monetary policy, inflation targeting, Infrastructure, trade, unemployment and inequality nexus. In the International Finance section, topics such as COVID-19 induced financial crisis, commodity futures volatility, stock market connectivity, volatility persistence, determinants of sovereign bond yields, FII and stock market volatility, cryptocurrency price formation, financialization of Indian commodity market, and a Keynesian view of the financial crisis are discussed. Overall, thirty two chapters in the volume discuss cutting edge research in the areas of the two sections. A tour de force... a lucid guide to some of the diverse and complex issues in International Macroeconomics and Finance. This collection of scholarly works is a fitting tribute to respected Prof. Bandi Kamaiah and his enviable academic contributions. - Prof. Y V Reddy, Former Governor, Reserve Bank of India This volume comprising thoughtful essays by our leading scholars on some of important policy issues that India is facing is indeed a rich tribute to Professor Bandi Kamaiah . This book will greatly benefit the academic community as well as our policy makers. - Prof. Vijay Kelkar, Chairman, 13th Finance Commission of India; Chairman, India Development Foundation, Mumbai, India Noted economists from India and abroad gather to apply the rigorous searchlight that Professor Bandi Kamaiah used so effectively in his career. Major current topics in macroeconomics and international finance are effectively explored in the volume. - Prof. Ashima Goyal, Emeritus Professor, Indira Gandhi Institute of Development Research, Mumbai, India; and Member, Monetary Policy Committee of Reserve Bank of India This volume of 32 papers in macroeconomics, international economics, and international finance is intended as a tribute to the eminent econometrician , Prof B Kamaiah. Post-graduate students and researchers will find much valuable literature in the volume, which is a fitting tribute to Prof Kamaiah. The editors and authors deserve rich compliments. - Prof. K L Krishna, Former Director, Delhi School of Economics, New Delhi, India I am so happy to hear that Dr. Kamaiah's colleagues and ex-students are bringing out a special volume of articles in his honor. Nothing can be more appropriate. Dr. Kamaiah, being a man of tremendous publications, deserves this tribute. I wish all the luck and success to the new book. - Prof. Kishore Kulkarni, Distinguished Professor of Economics, Metropolitan State University of Denver, USA

Budgeting In India: Developments And Perspectives 2. Planning And Budgetary Process; Budget- Meaning, Principles, Classifications; Mechanism Budgeting In A Commercial Organisation 3. Budgeting In Government: Conventional Budget And Other Formats Of Budget 4. Performance Budgeting: Meaning, Need & Mechanism 4A. 4B. 5. Zero-Base Budgeting: Meaning, Characteristics, Benefits, Zbb Process – Decision Units And Decision Packages 5A. 5B. 6. Zbb: Implementation In India – A Case Study Of Research And Development Organisation 7. Outcome Budgeting 8. Gender Budgeting 9. Fiscal Responsibility And Budget Management: A Step Towards Financial Discipline 10. Accrual Accounting In Government: Concept And Roadmap

This title was first published in 2000. An essential collection of studies which examine the many aspects of the Indian economy from trade relations and exchange rate mechanisms to privatization. The text looks at the issue of poverty and income distribution and advances the problems and issues associated with the Indian economy.