About the Book
This book is a detailed chronicle of India’s Growth story. The risks to
the growth are many, some emanating from within the country; and many from the
external environment, particularly when we are integrating with the global
The book succinctly brings out how the pressure to comply with the
expectations of the international investors and frequency of financial crisis
have taken considerable policy attention at the cost of more fundamental
problems of human poverty. It scrutinizes the performance of agriculture,
manufacturing and service sectors from the perspective of inclusive growth and
suggests pathways for a more just society.
Growth is a means to ensure human development and the authors have deftly
analysed the various risks to India’s growth resurgence, and thus to human
development. The essentials of good governance as means to ensure balanced,
stable and equitable growth and human development have been lucidly presented.
PART – I: PROLOGUE, Chapter 1 – Introduction,
Chapter 2 - Problems of the Indian Economy, PART – II: SECTORAL RISKS AND EMERGING CHALLENGES, Chapter 3 – Agriculture, Chapter 4 – Manufacturing, Chapter
5 - Service Sector, Chapter 6 – Energy, Chapter 7 - Water and Environment, PART – III: EPILOGUE, Chapter 8 - Governance:
Challenges and Options, Chapter 9 - Policy Perspective – The Way Forward.
Dr. B. Yerram Raju - Dr. B. Yerram Raju, Economist, is Former Dean of Studies, Administrative
Staff College of India, Hyderabad and former senior management executive of
State Bank of India and author/co-author of more than 650 articles in all the
leading financial dailies and 14 books that include: A Saint in the Board Room;
Risk management: The New Accelerator; Agricultural banking: Getting the
perspective Right among others. His research interests are in developmental economics,
financial risk management, MSMEs, Cooperatives and governance. He was Member of
the Jury of the Asia Pacific Bankers’ Congress, Manila during 2004 and 2005. He
is on the Boards of a few Consulting institutions dealing with setting up
producer companies/agri cooperatives apart from being member of Board of
Governors of Siva Sivani Institute of Management, Hyderabad and Farmers and
Rural Science Foundation, Hyderabad. He was a short term consultant for the
World Bank, UNCTAD, UNIDO, GOI, Andhra Pradesh (combined), and Telangana. He is
also Senior Fellow, ISED, Kochi.
M. Sitarama Murty - Mr. M. Sitarama Murty is a postgraduate in electronics from Andhra
University. He had worked for five banks of the State Bank group, including
State Bank of India at Paris, with over 37 years of experience. He retired as
the Managing Director of State Bank of Mysore. His fields of interest are
agriculture, international banking, foreign exchange and treasury management.
He is widely travelled and participated in several international conferences
abroad. He has been working as consultant and is on the boards of a few
companies. He was also on the Board of Karnataka Bank ltd., for over six years.
He has published two books and written more than a hundred articles in national
Dr. Singala Subbaiah
Dr. Singala Subbaiah has been working with Reserve Bank of India
(RBI) for nearly 18 years and is presently a General Manager in RBI, Hyderabad.
During his tenure in RBI, Dr. Singala has worked in several departments dealing
with regulation, supervision, financial markets and payment systems. He was a Member of Faculty at the Reserve
Bank’s Staff Training College, Chennai and Professor of Finance at the Administrative
Staff College of India, Hyderabad on deputation from RBI. Prior to joining the
RBI, he worked as a Lecturer in Business Management, Osmania University. Dr.
Singala’s qualifications include B.E, MBA (Finance), and Ph.D (Business
Management). As a recipient of Lee Kuan Yew fellowship, Dr. Singala has
completed Masters in Public Management from National University of Singapore
and Harvard University, where he was awarded gold medal for his thesis on financial stability. He is a certified Financial Risk Manager (FRM) of the Global
Association of Risk Professionals (GARP). He has authored/co-authored a number
of articles on banking and finance in Reputed journals. Views expressed in the
book are personal and not those of the RBI.