1. Distinguishing four phases
2. Phase I (1951-65) : takeoff under a liberal regime
3. Phase II (1965-81) : socialism strikes with a vengeance
4. Phase III (1981-88) : liberalization by stealth
5. Phase IV (1988-2006) : triumph of liberalization
6. A tale of two countries : India and the Republic of Korea
7. Declining poverty : the human face of reforms
8. Inequality : a lesser problem
9. Deficits and debt : Is a crisis around the corner?
10. The external sector : On the road to capital account convertibility?
11. The financial sector : Why not privatize the banks?
12. International trade : carrying liberalization forward
13. Industry and services : walking on two legs
14. Modernizing agriculture
15. Tax reform : toward a uniform goods and services tax
16. Tackling subsidies and reforming the civil service
17. Telecommunications and electricity : contrasting experiences
18. Transportation : a solvable problem
19. Health and water supply and sanitation : Can the government deliver?
20. Education : expenditures or transfers?
