All proposals and policy measures in the forthcoming Budget may best be summed up as efforts to improve the sustainability of growth. Specific objectives are likely to be lowering inflation and deficits - fiscal and current account. While no major overhaul of taxes are expected, if the...

We construct a simple political economy model with imperfect capital markets to explain infrastructure investments across Indian states. The model predicts that: i) the fixed cost of accessing the modern sector, ii) the initial stock of infrastructure, iii) median voter wealth, and iv)...

We construct a simple political economy model with imperfect capital markets to explain infrastructure investments across Indian states. The model predicts that: i) the fixed cost of accessing the modern sector, ii) the initial stock of infrastructure, iii) median voter wealth, and iv)...

Indian economy has reached in the orbit of high rate of economic growth. She is being widely acclaimed and recognized as an emerging global economic power. The rate of growth recorded during the period 1950-51 to 2004-05 clearly showed a tendency of steady upward trend. However, the decade of...

We study the sectoral allocation of public infrastructure investments in the agriculture and manufacturing sectors in India. In addition to the changing employment and output shares of these two sectors, the capital output ratio in agriculture in India has fallen, while it has risen in...

The existing literature on Indian growth finds no evidence of B convergence across states. This represents a puzzle given the relatively free flows of capital, labour and commodities across state borders. We use a new data set to estimate convergence rates across 575 Indian districts and find...

In Ghate & Wright Journal of Development Economics, vol. 99 (2012) pp 58–67, it was noted that there was considerable variation in the extent to which different Indian states participated in the Great Indian Growth Turnaround. In this paper it is investigated whether there was any...