Economic policy refers to the strategies and actions taken by a government to manage its economy. It includes decisions on taxation, government spending, and regulation. These policies aim to promote economic growth, reduce unemployment, and control inflation. In India, economic policy has evolved significantly since independence. It reflects the country’s diverse needs and challenges, balancing growth with social equity.
For decades after Independence, Indian economic policy instinctively tilted in favour of labour over capital. Redistribution, employment guarantees,...
