In India, the debate on economic policies has been resumed recently due to the problems of balances of payments, inflation, industrial recession and consequent recent programme of structural reforms as desired by the World Bank and the countries like U.S.A. Radical changes are underway in our economy since July, 1991. The Nation has dealt with the utmost determination, the issues of both stabilization and structural reforms. Fiscal reforms, exchange rate adjustment, monetary targets and inflation control constituted immediate measures for macro-economic stability supported by structural reforms in the forms of industrial deregulation, trade liberalization, liberalization of foreign direct investment, restructuring the public sector and financial sector. This book is a collection of research papers contributed by scholars in the field of management, commerce and economics. This book will be of immense use to the policy makers, research scholars and all those interested in the study of management of structural adjustment programme and economic crisis facing the Indian economy today.

Globalisation and Liberalisation of economies is gaining growing attention as a strategy for survival competition and growth. The political transformation in the Eastern Europe and former USSr and economic reforms all over the world has given an added impetus to globalisation. The unprecedented balance of payment crisis, lack of foreign exchange to meet the country's requirements, high rate of inflation and poor credibility of India in the International Financial markets compelled the policy makers to think of a departure from the trade policy and make a serious move towards radical liberalization to make the Indian economy market oriented and integrate it with the rest of the world. In tune with the developments at International level, India too has initiated the process of liberalization of economy. The deregulation and delicensing, privatization, full convertibility of rupee, free flow of foreign capital, monetary and fiscal measures according to the changing business and economic environment, reduced subsidies, permission to transnational companies etc. are the measures taken for economic renaissance of India. There have been a market increase in approvals for foreign direct investments (FDI) and agreements for supply of know how during the last few years. In this set, some of the aspects emerging from the structure adjustments and stabilization programmes have been discussed. An important and timely contribution, this set has profound implications for formulation policies concerning a comprehensive package of economic reforms. This set will be helpful in understanding the analytical issues relating to various structural changes, which are taking shape for turbulent times in developed economies.

The earlier economic policy environment had a constraining effect in the massive export thrust. The external payment situation remained under pressure for a long period of time. Several adverse medium term-factors like declining self-sufficiency in production, inflationary tendencies, a steady erosion of the surpluses in the invisible account in financing the trade deficits, unfavourable climate for concessional assistance contributed to this situation. The government introduced several measures in country's export policy as part of trade policy changes during 1991-93. Reduction in import duty on capital goods, reduction in excise and custom duties, convertibility of rupee, introduction of LERMS and export promotion capital goods scheme and permission of gold imports by NRIs etc. are the major steps to encourage and enhance India's foreign trade. This book is an attempt to highlight the diverse analytical issues related to trade policy changes and its impact on Indian economy. This volume is the collection of research papers contributed by scholars in the field of economics, commerce and management. This book will be great help in understanding the basic issues relating to India's export policy and its implications for India in the changing global economic scenario.

The issue of privatization of public enterprises has assumed the importance in recent years in the context of changing global economic scenario, emerging fiscal constraints and the poor performance of public enterprises and their inability to contribute to further economic development. The pressures and conditionalities imposed by the international donor and commercial and lending agencies like the World Bank and the IMF for structural reforms to ensure the competitiveness of its economy which include lower protective tariffs, increasing foreign investments in financial sector, industrial deregulation and privatization, is part of macro-economic adjustment programme and which plays the positive role in ensuring a healthy and efficient economy. The failure of nationalization acted as one of the principal driving forces behind privatization. In the 1980s and 1990s so far, the privatization as a tool of economic growth and stability in the changed economic environment has been employed in a developing country like India. This book is an attempt to bring together at one place the various perceptions on the multi-dimensional process of privatization of public enterprises in India with the help of contributions of economists and social scientists. This book has implications for formulating policies in order to restructure the public sector undertakings and work out various privatization strategies suited to the Indian conditions.