This refreshing book explores the multidimensional factors that have determined the specific brand of pragmatism that has characterised the reform process in India since it was set in motion in the mid-eighties. Narendar Pani argues that there is a definite conservative bias to these economic reforms which became particularly evident (through an emphasis on problem-solving) when they gained momentum in 1991.

He contends that this conservatism was the result of numerous factors including the broad political consensus on the need for economic reforms; the reluctance to dismantle mechanisms of state intervention, particularly in the rural sector; and the compulsions posed by the forces of political instability.

One of the outstanding features of this jargon-free book is the original theory it propounds using a new methodology which combines journalistic techniques and academic tools. It will interest not only those engaged in the fields of economics, political science and policy studies but all those who wish to understand the factors underlying the current trend of economic liberalisation in India.