PAPER – II
1. Indian Economy in Pre-Independence Era:
Land System and its changes, Commercialization of agriculture, Drain theory, Laissez faire theory and critique. Manufacture and Transport: Jute, Cotton, Railways, Money and Credit.
2. Indian Economy after Independence:
A The Pre Liberalization Era :
(i) Contribution of Vakil, Gadgil and V.K.R.V. Rao.
(ii) Agriculture : Land Reforms and land tenure system, Green Revolution and capital formation in agriculture.
(iii) Industry Trends in composition and growth, Role of public and private sector, Small scale and cottage industries.
(iv) National and Per capita income : patterns, trends, aggregate and Sectoral composition and changes their in.
(v) Broad factors determining National Income and distribution, Measures of poverty, Trends in poverty and inequality.
B The Post Liberalization Era :
(i) New Economic Reform and Agriculture : Agriculture and WTO, Food processing, Subsidies, Agricultural prices and public distribution system, Impact of public expenditure on agricultural growth.
(ii) New Economic Policy and Industry : Strategy of industrialization, Privatization, Disinvestments, Role of foreign direct investment and multinationals.
(iii) New Economic Policy and Trade : Intellectual property rights : Implications of TRIPS, TRIMS, GATS and new EXIM policy.
(iv) New Exchange Rate Regime : Partial and full convertibility, Capital account convertibility.
(v) New Economic Policy and Public Finance : Fiscal Responsibility Act, Twelfth Finance Commission and Fiscal Federalism and Fiscal Consolidation.
(vi) New Economic Policy and Monetary system. Role of RBI under the new regime.
(vii) Planning : From central Planning to indicative planning, Relation between planning and markets for growth and decentralized planning : 73rd and 74th Constitutional amendments.
(viii) New Economic Policy and Employment : Employment and poverty, Rural wages, Employment Generation, Poverty alleviation schemes, New Rural, Employment Guarantee Scheme.

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