ABSTRACT
The course of India’s economic reform has been long and winding. It has produced incremental rather than radical advances. Often it has seemed to lack direction and a coherent strategy. India’s road to reform is shaped by a political and cultural terrain that makes dramatic new reforms difficult. The continuing resonance of Fabian socialist ideology, the country’s democratic political institutions, and its structure of political power have facilitated movement in some directions while impeding advances in others.
