ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Budget, Government Style and Sustainability of Economic Reform in India

of Economic Reform in India Chiranjib Sen The success of economic reforms depends on whether policy-makers can overcome both political and economic constraints. This paper focuses on a relatively neglected dimension of the Indian economic reform process the institutional underpinnings of state capacity. It has argued that state capacity, defined as the capability for political management of the reform process within a democratic system, is crucial for the sustainability of the reforms. Paradoxically, this is true even for the neo-liberal type of economic reform which aims at diminishing the role of government Why Budget 1998 Is Different:

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