The extent and impact of financial sector reforms in India has been widely deliberated in both academic and policy circles. In this book, the issue has been addressed from the macroeconomic growth perspective. The book analyses the changes in the financial sector, its policies, growth, efficiency, and the support it has been providing to the productive sectors of the economy in post-reforms India. What makes the book unique is that it mainly uses unit-level data and estimates the financial resource gap at the economy-wide level for sectors (agriculture, industry, and services), segments (unorganized and organized), and households.
The authors provide a comparative analysis of the Indian financial system with that of UK, Brazil, and China, and investigate the role of the private sector in improving financial access.
Among the authors, T.A. Bhavani is Professor of Economics, Institute of Economic Growth, Delhi; and N.R. Bhanumurthy is Professor of Economics, National Institute of Public Finance and Policy, New Delhi.