The role of India and China is expanding in the global economy. A whole new array of economic and financial issues are emerging which need to be tackled if the current period of growth is to endure. The issues that need attention include how to expand the services sector, especially financial services; how to keep pace with the incredible growth of the manufacturing sector; how to ensure the widest possible diffusion of the huge economic gains seen over the last ten years and how to provide the framework for the development of two-fifths of the human race.

Economic Reforms in India and China: Emerging Issues and Challenges aims at providing the goals, strategies and policies to tackle these issues. It discusses the efforts to address issues like encouraging less successful sectors of the economy that have been complicated by forces of globalization and the ever-changing realities of today's global economy and appraises issues pertaining to economic reforms. The articles explore ways to improve the well-being of the poor, to design effective structures and institutions for poverty reduction and how the reforms, in their economic, political and social dimensions can be used to tackle global developmental issues.

Introduction: Economic Reforms—Unanswered Questions and Open-Ended Answers

Introduction: Economic reforms—Unanswered questions and open-ended answers
B. SudhakaraReddy

Whenever you are in doubt or when the self becomes too much with you, apply the following test: Recall the face of the poorest and the weakest man whom you may have seen and ask yourself if the step you contemplate is going to be of any use to him.

Mahatma Gandhi

Introduction

The overarching objective of any reform in a country is to foster economic, social and political advancement, reduce inequalities, and promote inclusive growth. Reforming the existing system is extraordinarily difficult and is fraught with challenges. A major problem is the course of the reform agenda. Often, there is little guidance about what is essential, what should come first, what should follow ...

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