This paper reconsiders two questions relating to India's economic growth: structural breaks in growth and the impact of equipment investment on aggregate economic growth. First, statistical tests of structural change show that economic growth in post-independence India has witnessed four...

This book studies pitfalls in value added accounting of sectoral growth in real terms in the context of liberalisation of the Indian economy. Growth of sectoral gross value added can systematically deviate from that of final expenditure (and gross output), even maintaining the broad national...

Introduction: the take-off -- Growth and structural change since 1978-79: issues in measurement -- Sectoral shares in Indian GDP: how to regard it? -- Sectoral growth: GVA-output dichotomy -- Manufacturing sector in the Indian economy: paradox of growth and stagnation -- Growth and sectoral GVA...