The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

India, Economics in

  • Deepak Lal
Reference work entry


This article outlines the debates amongst Indian economists on planning, transforming agriculture, poverty and income distribution, and political economy and institutions. It shows that much of this work pioneered many analyses which have come to define the sub-discipline of ‘development economics’.


Agricultural subsidies Agriculture and economic development Attached labour Bauer, P Bhagwati, J Caste system Central planning Comparative advantage Conjunctural poverty Delhi School Destitution Development economics Dirigisme Dual economies Dutch disease Exchange controls Famine Farm size Fel’dman, G. A Food security Free trade Friedman, M Green Revolution Homo economicus Import substitution India, economics in Industrialization Johnson, H. G Land reform Leisure Lewis, W. A Mahalanobis, P. C Malthus’s theory of population Meade, J. E Pastoralism Peasants Population growth Poverty Poverty alleviation Price controls Privatization Protection Public works Ramaswami, V. K Redistribution of income Rent seeking Rural employment Sen, A Shadow prices Sharecropping Shenoy, B. R Stalin, J Structural poverty Surplus labour Terms of trade Usury 

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Authors and Affiliations

  • Deepak Lal
    • 1
  1. 1.