The Indian development experiences of the last few decades, particularly in the context of globalization and liberalization, reveals that "the greater was the degree of governmental control and the wider was the magnitude of bureaucratic regulations the slower was the pace of economic growth and the narrower was the scope of economic development. " It shows that the economic reforms carried out in India give a mixed account of positive as well as negative impacts. The positive impacts include revival of the growth process and achieving a higher growth process and achieving a higher growth in employment and a steady improvement in the balance of payment situation. A creditable achievement was the build up of large amount of foreign exchange reserves. But the reforms have not succeeded in achieving sound macro-economic balances with regard to revenue and expenditure of Central Government. Another major negative impact was the acceleration of the inflationary trends in the economy. The increase in inflation had considerably reduced the purchasing power and adversely affected large section of poor people in the country including the people below poverty line. Against this background, this collection of seventeen articles contributed by economists, management experts, leading columnists, and experienced administrators embodies a critical analysis of various aspects of modern management in the context of liberalization and globalization. The volume contains in depth-and illuminating discussions on wide ranging issues and areas of modern management viz., development management, genesis of banking sector, reforms, economic reforms in banking sector, strategic human resource management, strategic marketing, role of the state in globalization, role of FDI and FII in the new economic policy; value added tax system, black money, world trade, small industry policy, customer relationship, management infrastructure, economic growth etc. The views and opinions expressed by the contributors are of immense value for policy makers, planners, administrators and academicians for restructuring and rejuvenating policies and strategies related to management issues in the days to come.
M.R. Biju (b.1965), recipient of the Post-Doctoral Research Award of the University Grants Commission, is a prolific writer on socio-political and developmental issues. He has published eight out-standing books and seventy research papers published in prestigious journals. Some of these have been abstracted in the International Political Science Abstracts, Paris. He is also editing an international journal- South Asian Journal of Socio-Political Studies (SAJOSPS) His books include (1) Politics of Democracy and Decentralization in India (1997), (2) Dynamics of New Panchayati Raj System Reflections and Retrospections (1998), (3) Parliamentary Democracy and Political Change in India (1999), (4) India's Foreign Policy: Towards a New Millennium (2000) (5) Decentralization: The Indian Experience (2006) (6) Human Rights in a Developing Society (2006), (7) Women's Empowerment: Politics and Policies (2006), (8) Tourism Management and Sustainable Development (2006). Dr. Biju obtained his PhD on Panchayati Raj in Kerala in 1991 and started his career in the Institute of Social Science, New Delhi in a research project on the Present Status and Future Prospects of Panchayati Raj in India. In 1994 he joined the faculty of Sree Narayana College, Kollam, University of Kerala. Dr. Biju is a Life Member of several academic and professional bodies. He has presented a number of research papers in seminars and conferences on a wide range of areas.
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