India's Economic Growth History: Fluctuations, Trends, Break Points and Phases

Arvind Virmani

Indian Economic Review, 2006, vol. 41, issue 1, 81-103

Abstract: This paper reviews India's growth performance since independence. One of the innovations in this paper is to take explicit account of rainfall variations that play a very important role in the Indian economy. This allows us to determine whether the Indian economy has become less dependent on the monsoons ('drought proof'). It also allows a statistically more accurate determination of the different phases of Indian economic growth. These phases are linked to different policy regimes and therefore allow us to evaluate the impact of a set of policies on economic growth.

Keywords: Indian Economy; Economic Growth; Development; Phases of Growth; Socialism; Bharatiya Rate of Growth. (search for similar items in EconPapers)
JEL-codes: N1 O1 O4 O5 P0 (search for similar items in EconPapers)
Date: 2006
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