Essays On Indian Monetary And BOP Experience
In order to provide proper perspective on monetary theory for the reader, the first essay in the book gives an overview of monetary theory. This essay puts in proper perspective the essays in the book which examines various dimensions of the Indian monetary and BOP experience. An understanding of major tenets of the monetary theory will help proper appreciation of the empirical material in the rest of the book. The second essay gives a comprehensive statistical account of trends in money supply and its determinants covering the period 1970-71 to 1987-88. India has been experiencing inflationary rise in prices since 1960s. the third essay gives an analytical account of India?s inflationary experience and the next essay deals with the erosion of India?s Rupee during 1970s and 1980s. the fifth essay brings out clearly how monetization of public debt has been a major factor in growth of money supply and the consequent inflationary rise in prices. The next two essays deal with Chakravarthy Committee report on monetary system. The succeeding essays deal with different dimensions of commercial banks credit. The next essay deals with periodically recurring problem of shortage of small denomination currency and conics followed by an essay which gives an analytical and statistical account of progress of innovative development banking in India. The last two essays deal with India?s balance of payments experience and the role of I.M.F. in India?s efforts for achieving adjustment in BOP.
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