Economic Policy Reforms and the Indian Economy, edited by economist Anne O. Krueger, originally published in 2002, provides an examination of the reforms that transformed India’s economy beginning in the early 1990s. This volume compiles contributions from a range of distinguished economists, offering comprehensive insights into various aspects of India’s reform journey.

The book begins with a chapter by Krueger, who sets the stage by outlining the historical context of India’s economic policies and the dire economic situation that led to the 1991 reforms. She highlights the critical policy changes, such as liberalization of trade, deregulation of industries, and opening up to foreign investment, which were designed to transition India from a closed, state-controlled economy to a more open and market-oriented one.

Subsequent chapters delve into specific sectors and issues affected by these reforms. For instance, Naushad Forbes examines the effects of the reforms on doing business in the country while Anjini Kochar writes on the emerging challenges for education policy in India. Montek Singh Ahluwalia analyzes state-level performance post the economic reforms and Rakesh Mohan explores small-scale industrial policy in India. Other contributors such as T. N. Srinivasan address the fiscal situation in India, Ashok Desai and Narayana Murthy discuss tge state of business in India, and so on. The volume also includes critical analyses of the implementation challenges and the political economy of reform in India, discussing why some reforms succeeded while others lagged.