Inclusive Growth and Social Change

Has the Indian economy realized its oft-stated goal of inclusive growth? Did the rapid progress made after liberalization help improve income levels of the most vulnerable households in the country? Can the economy succeed in establishing complementary linkages between the formal and informal sectors so that the growth of the former enables the latter? What can be the role of agriculture in this context? This book addresses such debates, and posits that, despite the consistently high growth rate driven by the formal sector, informality exists without substantial improvement in its basic economic conditions. It explores the conflicts and complementarities between both segments of the economy arguing that these interactions lead to a distorted structure of capitalism. With in-depth theoretical foundations and empirical analysis, the book interrogates the paradigm of 'growth' being 'inclusive', proposing that only a comprehensive structural change can resolve the challenges of the informal sector.