In Service of the Republic: The Art and Science of Economic Policy

The authors begin by examining India's strong growth between 1991 and 2011 and the subsequent slowdown. They ask why India's economic promise has weakened, how the country can avoid the middle-income trap, and how it can become prosperous before its demographic advantage fades. The book explores the foundations of economic policy, India's development experience, the science and art of policymaking, public institutions and practical examples of policy design.

Vijay Kelkar is an economist and former senior civil servant who served as India's Petroleum Secretary, Finance Secretary and Chairman of the Thirteenth Finance Commission. He also worked with UNCTAD and the International Monetary Fund. He was awarded the Padma Vibhushan in 2011.

Ajay Shah is an economist whose professional experience includes the Centre for Monitoring Indian Economy, the Indira Gandhi Institute of Development Research and India's Ministry of Finance. He has also worked as a professor at the National Institute of Public Finance and Policy, with research interests spanning economics, law and public administration.

The book presents a wide-ranging analysis of how India can transform economic potential into sustained prosperity. Kelkar and Shah examine the country's economic performance, institutions and policymaking processes, while discussing issues such as economic growth, public administration, regulation and development strategy. Rather than treating economic policy as purely technical, the authors emphasize the importance of institutions, incentives, political choices and effective implementation. The result is a practical and analytical framework for thinking about India's future as a modern economic power.