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Understanding ReformsPost-1991 India$
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Suresh Tendulkar and T.A. Bhavani

Print publication date: 2012

Print ISBN-13: 9780198085584

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780198085584.001.0001

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The Decade of the 1980s

The Decade of the 1980s

Chapter:
(p.58) 5 The Decade of the 1980s
Source:
Understanding Reforms
Author(s):

Suresh D. Tendulkar

T.A. Bhavani

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198085584.003.0005

This chapter reviews the origins of the major changes in polity and economy in India in the 1980s. In the high tariff regime of the 1980s, small-scale producers often found it more profitable to turn traders by selling the preferentially allocated imported inputs in short supply at a premium to larger units in the domestic market rather than using them in their own production. In external trade, rules for importation of technology were considerably liberalized in view of the technology backlog caused by an earlier autarkic policy, and quantitative controls on (mostly non-competing) imports were replaced by tariffs to bring privately earned import premia into government revenues. The chapter traces the emergence of the Indian economy from a thirty-year-long low-growth equilibriumto a higher growth phase.

Keywords:   vertical mobilization, farmers, distributional coalition, traders, tariff, external trade, subsidies, government revenues, low-growth equilibrium, industrialists

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