Have India's economic reforms since 1991 truly delivered on their promises? This article delves into the progress of India's economic policy reforms, initiated in response to a balance of payments crisis, offering an original assessment of their impact. Drawing from a review of recent books and World Bank reports, the analysis explores critical issues in economic policy, and the reforms' effects on poverty reduction, and infrastructural advancement. The review highlights sectoral issues within agriculture and industry revealing that while some economic growth has been achieved, progress remains insufficient to address the development agenda effectively. India continues to face substantial challenges as reforms enter a more complex phase, suggesting a need to reassess and refine strategies. In conclusion, the paper underscores the importance of addressing both the 'economic agenda' and the 'development agenda' to foster inclusive growth and improve overall human development. It encourages further policy adjustments to promote human development and more equitable distribution of resources.
Published in the _Journal of Economic Studies_, this paper aligns with the journal's focus on economic theory and demography. It examines India's economic reforms within a global context, contributing to the journal's exploration of economic development and policy. By analyzing the reforms' impact on various sectors, the paper enriches the journal's discussion on the challenges and opportunities in emerging economies.