This paper analyzes the Indian National Sample Survey data spanning 1987/88-2011/12 to uncover patterns of transition into and out of different classes of the consumption distribution. At the aggregate level, income growth has accelerated, accompanied by accelerating poverty decline. Underlying...

The differences in financial development across Indian states, while seeming substantial, have a minor effect on firm lifecycle and growth. These results hold controlling for differences in labor regulations across states, capital intensity, and for firms born before and after the major reforms....