Sources of Growth in the Indian Economy: Looking Back at the Last 75 Years Since India’s Independence

Bishwanath Goldar (), Dibyendu Maiti, Suresh Chand Aggarwal, Abdul Azeez Erumban and Pilu Chandra Das
Additional contact information
Bishwanath Goldar: Institute of Economic Growth
Dibyendu Maiti: Delhi School of Economics
Suresh Chand Aggarwal: Institute for Human Development
Abdul Azeez Erumban: University of Groningen
Pilu Chandra Das: University of Calcutta

Chapter Chapter 2 in 75 Years of Growth, Development and Productivity in India, 2025, pp 23-90 from Springer

Abstract: Abstract Sources of India’s economic growth during 1951–1952 to 2019–2020 and five sub-periods, 1951–1966, 1967–1979, 1980–1993, 1994–2007 and 2008–2019 are analysed using the growth accounting framework. The analysis is undertaken at the aggregate economy level and for five major sectors of the economy. The trends in employment and capital formation in the sub-periods and the overall period are examined. The growth in real gross value added and the changes in the sectoral composition are studied. Further, how the sectoral pattern of aggregate TFP has evolved over time is investigated which brings out that the primary factor influencing sectoral variations in contributing to aggregate TFP growth was the relatively weak productivity growth performance of the manufacturing and non-manufacturing industries sector during the period prior to the initiation of liberal market reforms in India. An econometric analysis of determinants of TFP growth is undertaken which shows that education, trade openness, structural change and ICT investments have contributed to TFP growth.

Keywords: Indian economy; Long-tem economic growth; Growth accounting; Sources of growth; Employment; Capital formation; Productivity; Structural change; Determinants of TFP growth; Trade openness; ICT investment (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-97-8054-9_2

Ordering information: This item can be ordered from
http://www.springer.com/9789819780549

DOI: 10.1007/978-981-97-8054-9_2

Access Statistics for this chapter

More chapters in India Studies in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().