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Trade and Payments Policies in India an Evaluation of Recent Changes and Their Implications

The changes in the economic policies of the government of India in recent months have attracted widespread response from various quarters. Some economists see in this package of initiative the stamps of IMF’s imposition and the role of global neo-imperilism in thwarting India’s sovereign march for development and prosperity, while others describe the policy changes as steps in the right direction which were long overdue. The discussions, however, are not often clear-cut and bear ideological overtones of both the proponents and opponents. The relevant question, however, is not to ignore the interplay between political and economic forces