Institute of Economic Growth (IEG)
The Institute of Economic Growth (IEG) is an autonomous, multidisciplinary Centre for advanced research and training. Widely recognized as a Centre of excellence, it is one of India 's leading academic institutions in the fields of economic and social development. Established in 1958, its faculty of about 23 social scientists (economists, demographers and sociologists) and a large body of supporting research staff focus on emerging and often cutting-edge areas of social and policy concern. Many past and current faculty members are internationally renowned and award-winning scholars.
IEG's research falls into nine broad themes: Agriculture and rural development, environment and resource economics; globalization and trade; industry, labour and welfare; macro-economic policy and modeling; population and development; health policy; and social change and social structure. In addition, the Institute organizes regular training programmes for the trainee officers of the Indian Economic Service and occasional courses for officers of the Indian Statistical Service, NABARD, and university teachers. The Institute's faculty members also supervise doctoral students from India and abroad, provide regular policy inputs, and engage with government, civil society and international organisations.
Over the years IEG has hosted many renowned international scholars, including Nobel Laureates Elinor Ostrom and Amartya Sen, and others such as Ronald Dore, Yujiro Hayami, Jan Breman and Nicolas Stern.
Founded in 1958 by the eminent economist V.K.R.V. Rao, IEG's faculty, Board of Directors and Trustees have included a wide range of distinguished intellectuals and policy makers, including V.T. Krishnamachari, C.D. Deshmukh, P.N. Dhar, A.M. Khusro, Dharm Narain, C. Rangarajan, C.H. Hanumantha Rao, Nitin Desai, T.N. Madan, P.C. Joshi and Bimal Jalan. Several former faculty members have served as members of the Planning Commission or on the Prime Minister's Panel of Economic Advisors. Former Prime Minister Manmohan Singh has had a long association with the Institute, initially as Chairman of the Board (1972-1982) and since 1992 as President of the IEG Society. Mr. Tarun Das is the Chairman and Prof. Ajit Mishra is the Director of the Institute.
The Institute of Economic Growth is a social science research and training centre of excellence, founded by Professor V.K.R.V. Rao in 1958. It was set up to promote multidisciplinary research on issues relevant to India’s economic growth and social development. Since its inception, the Institute has aspired to produce research that is theoretically sound, methodologically rigorous by international standards, and relevant for policy. With this ambition, their faculty members have kept up with theoretical and methodological developments in their fields, and with changes in the ground realities of the economy and society. They have to their credit a wide range of publications, including articles in international academic journals and books published by leading national and international publishers. While research remains the Institute’s primary activity, the faculty also guides Ph.D and M.Phil students from India and abroad, trains civil servants, particularly the Indian Economic Service officers, on economic and social policies, and provides policy advice to the Government of India.
When the Institute was founded, India had recently attained Independence. At that time, economic planning and social welfare formed the fulcrum of the country’s development strategy.
The Institute’s research profile reflected national concerns, and themes such as agricultural and rural development, industry, trade, finance, monetary economics, population, urbanization, macroeconomics, and social change received prime attention. Since the 1980s, and especially since the 1990s, however, there have been notable changes in the country’s economic strategy. While India still remains a mixed economy, with a focus on both State and market, the introduction of economic reforms has shifted the balance from largely State-led growth to a growing emphasis on the private sector and an open economy. Liberalisation and globalisation have affected not only the economy, but also the society and polity. Existing development paradigms are being challenged by new concerns such as environmental degradation and gender inequality. These call for new theoretical and methodological innovativeness.
Responding to these contemporary challenges, the research agenda of the Institute faculty has broadened to include emerging issues such as liberalisation and globalisation with a human face, technological change, environment and natural resources, gender inequality, the well-being of vulnerable sections, regional disparity, citizenship and governance, social pathologies, health economics, ageing, and social capital. Hence, while the Institute’s faculty continues to pursue its traditional specializations, it has also widened its scope. Moreover, it has sought to approach even the traditional fields with a fresh perspective, informed by new theoretical and methodological approaches. What remains unchanged is their continuing stress on academic excellence and policy relevanceSee more