The Nehru Development Model: History And Its Lasting Impact
At the dawn of independence, Pandit Jawaharlal Nehru embarked on a significant journey as India's first prime minister. His vision was twofold: to establish a robust democratic foundation while fostering economic growth. The political aspect was a triumph, steering India onto the democratic path with lasting success. However, the economic project faced substantial hurdles.
Nehru’s economic strategy was largely built on the pillars of heavy industry and an expanding public sector, paired with relative isolation from global markets. Unfortunately, this approach did not yield the necessary growth to eradicate poverty in India. Moreover, it instilled an ethos that makes transitioning to an outward-oriented, pro-market economy challenging even today, long after Nehru's era.
In this insightful book, esteemed economist and policymaker Arvind Panagariya takes a deep dive into the economic history of the Nehru period. He systematically documents its impact on contemporary economic thought and the policy landscape post-Nehru. Readers are invited to explore intriguing questions like:
- How did the Nehru economic model evolve over time?
- What influence did Nehru's thinking have on this model?
- In what ways did the economic history of this era shape subsequent policymaking in India?
This book not only presents a historical account but also examines the enduring repercussions of the Nehru development model, offering readers a comprehensive understanding of its significance in today's economic discourse.
