Essays on Economic Progress and Welfare

India's unique experience of over three decades in planned economic development has attracted considerable interest in the Third World and outside. Indian thinking on planning and economic progress has gone through many phases in the last thirty years: the Mahalanobis model which was the basis for India's Second and Third Five-Year Plans (1955-1965), the economic crisis in the mid-1960s, the change in policy mix and the Green Revolution, the realization that poverty cannot be removed by growth alone, the renewed emphasis on growth with social justice, and the recent move to liberalize economic policies and give market incentives greater play.