Examining India's present and future prospects

New Delhi, Nov 06, 2021, IANS

At this time of crucial transition, Bimal Jalan, a former Reserve Bank of India Governor and Rajya Sabha MP, examines the countrys present and future prospects in "India Reckoning: Politics, Economy, Governance and Beyond" (Bloomsbury).

For Jalan, there are two clear priorities for the future: to continue and benefit from the dramatic global changes in technology, trade, and investment over the previous three decades, and to get rid of the deadweight of the past in order to maximize the benefits from our economic and political strength.

Jalan offers a blueprint for the government to launch reforms to reduce corruption and administrative bottlenecks in the delivery of services to the people, such as by:

* Reducing corruption in the administrative system

* Improving the role of the legislative, executive and judiciary in policymaking

* Improving governance and politics in a resurgent India and

* Strengthening the functioning of the financial and banking sectors.

In nine succinct chapters, Jalan with his characteristic insight and brilliance, discusses a range of political and economic issues which will help India realize its full potential as one of the fastest-growing, emerging economies in the world.

Bimal Jalan has previously held several positions in the Government including those of Finance Secretary and Chairman of the Economic Advisory Council to Prime Minister. He was also a nominated Member of Parliament from 2003 to 2009.

He was Chairman of Expenditure Management Commission during 2014-16. He also represented India on the Boards of the IMF and the World Bank. In 2019, he was the Chairman of the Committee on "Economic Capital Framework", set up by the RBI in association with the government.

He has been associated with a number of academic and public institutions including the Indian Statistical Institute, Kolkata; the Institute of Economic Growth, Delhi; Centre for Development Studies, Thiruvananthapuram as Chairman; and as President of National Council of Applied Economics and Research, New Delhi.