This paper explores the elements of continuity and change associated with Indian capitalism’s transition to its liberal phase after 1991. While acknowledging the significant changes since then, it is argued that the origins, nature, and consequences of Indian liberalization cannot be...

For over four decades after independence in 1947, India’s industrialization took place under a regime with an extensive system of controls over private capital. It is commonly believed that during this period of dirigisme, established dominant business families successfully manipulated the...

Through a critical review of some of the literature and making use of information relating to Indian groups, the case is made for a more bottom-up, and more historical, approach to the study of the developing country business group. The lack of clarity and unanimity in the conceptualization of...

The FRBM Act was reflective of the shared commitment across political parties towards fiscal conservatism. A decade later, the picture, as reflected in the Union Budget, is yet to change for the better. And given the interests that the current Government represents, a real departure from the...