In Service of the Republic: The Art and Science of Economic Policy, by Ajay Shah and Vijay Kelkar, is a deep dive into the complexities of economic policy making in India. The authors, both respected economists with extensive experience in public policy, present a comprehensive framework for understanding how effective economic policy can shape a nation’s development. The book is notable for its focus on the principles that should guide policy formulation, emphasizing the importance of scientific analysis, institutional integrity, and a commitment to public welfare.

Through real-world examples, the book provides insight into how policy decisions can affect various aspects of society, from fiscal stability to social welfare. Shah and Kelkar’s approach highlights that effective policy making requires a balance between the art of negotiation and the science of economic principles.

The authors contend that India’s approach to economic reforms has been gradual and fragmented and argue for a more holistic and strategic approach. They stress the importance of developing robust institutions, fostering competition, and investing in human capital as key drivers of economic progress.

In Service of the Republic is essential reading to understand the inner workings of public policy, offering valuable lessons on how to create policies that are both economically sound and socially responsible. The book’s insights are particularly relevant as India seeks to navigate complex economic challenges in its journey toward sustainable and inclusive development.