Economic Growth in India and its Many Dimensions

Contents: Preface.  Introduction by Arup Mitra. I. Macro Issues: 1. Rethinking Economics, Statistical System and Welfare: The Case of India/R. B. Barman. 2. Impact of Export and Remittances on Import Penetration in South Asian Economies: An Econometric Exploration/Manas Bhattacharyya and Kaushik Basu. 3. Stock Market Volatility Patterns in India/Amita Batra. 4. Evaluation of Alternative Bayesian VAR Model for Forecasting Indian Inflation/Sangeeta Chakravarty. II. Sectoral Studies: 1. Growth in Output, Employment and Productivity in the Manufacturing Sector: A State-wise Comparative Study of Post-Liberalisation India/Bishwanath Goldar and Anita Kumari. 2. Productivity in Food Processing Industry under varying Trade Regimes: Analysis across Indian States/Seema Bathla. 3. India’s Manufacturing Sector: Constraints and Need for New Initiatives/M. C. Singhi.4. Determinants of Tertiary Sector Employment in India/Seema Joshi. III. Inclusive Growth:  1. Economic Growth, Inequality and Policy/Arup Mitra. 2. Growth of GSDP and Wages in India: An Inter-State Comparison/Partha Pratim Mitra and Vinay Kumar Pandey. 3. Poverty, Inequality and State Expenditure: Intra-Regional Disparities in North East India/Rakhee Bhattacharya and Govind Bhattacharjee. 4. Growing Lifespan, Ageing, and Later Life Income Challenges: Exploring the Activity Status of Older Indians/Moneer Alam and Pratima Yadav. Index. 

India has posted a high growth rate since liberalisation in the 1990s. But, what does this number called growth rate mean?
Has there been uniform growth in all sectors
Has there been overall growth across all regions of the country?
Have all social groups of people (such as the socio-economically backward, the elderly) been benefitted by this growth?
Why is poverty still present to such a huge extent in India?
To answer these questions and to discuss the challenges facing us today we need to look at growth and understand its many dimensions. This collection of essays looks at growth along three dimensions:
1. Measurement and methodology (Section 1): Essays on the current statistical system and various econometric models
2. Issues across the various sectors (Section 2): Essays on the performance of manufacturing sector, services sector and food procssing sector
3. Inclusivity of growth (Section 3): Essays analysing wage rates, health indicators, development in the North East states and status of elderly in the country.