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This working paper presents a comprehensive analysis of India's reforms, utilizing a CGE modelling exercise to evaluate their economic impact. It delves into the implications of various economic policy changes, offering insights derived from a computable general equilibrium framework for a deeper understanding of India's economic development.

The General Equilibrium Theory is a fundamental economic theory that analyzes how supply and demand forces interact across all markets within an economy to achieve a simultaneous economic equilibrium. This comprehensive framework, often associated with Walrasian equilibrium, aims to explain the determination of prices and quantities in a system where all agents are optimizing and all markets clear, providing insights into the overall functioning of an economic system.

Explore the latest advances in general equilibrium theory, covering contemporary research, new economic equilibrium models, and their implications for modern economic thought. Discover significant progress in understanding complex market interactions and the evolution of Walrasian equilibrium concepts.