Extract: 'Emerging India' by Bimal Jalan

Bimal Jalan is one of India's well-known economists. He was Governor of the Reserve Bank of India from 1997 to 2003. He has held several top positions in the ministries of finance and industry and in the Planning Commission. He was also Chairman of the Economic Advisory Council to the Prime Minister and represented India on the boards of the IMF and the World Bank. His book 'Emerging India' was recently published by Penguin India.

Here is an extract from the book..............