A section of the media seems to be mighty impressed with Bihar’s miraculous (11.03%) average annual growth during the 2004-05 to 2008-09, supposedly akin to that of Gujarat (11.05%) but is there a catch in this stunning statistics? (See the graph below). While the media has quoted the Gross State Domestic Product at factor cost (at constant 1999-2000 prices) as provided by the Central Statistical Organization (CSO), but the corresponding...
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'Outlays have had no relationship with outcomes': Mani Shankar Aiyar
As an Indian, and one who has held high ministerial office, it is only right that I begin by portraying the reality of my own country before drawing comparisons with my South Asian neighbours. The World Food Programme tells us that half the world’s hungry live in India. Which is the more significant reality: Our being the second-fastest growing economy in the world, or that, notwithstanding that extraordinarily high growth...
More »India 134th out of 182 countries by Vidya Subrahmaniam
India ranks 134th out of 182 countries, the same as in 2006, in the 2009 Human Development Report released on Monday. China registers the largest gain in rank, moving up seven places to finish at 92. The United States dropped one place to end at 13. The HDR ranks countries on the Human Development Index (HDI), measuring their progress on three key indicators — education, life expectancy and income measured by...
More »Measuring progress by Jayati Ghosh
A commission set up to look into alternative ways of measuring economic and social progress has added to the existing debate but not made any real advances. FOR some time now it has been clear that standard measurements of growth and development are inadequate and possibly even misleading. The problem of looking at only the aggregate gross domestic product (GDP) has been widely noted: its blindness to distributional issues and...
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Output and Growth According to the [inside]Economic Survey 2017-18, Volume-2[/inside] (please click here to access): • The growth rates of agriculture & allied sectors have been fluctuating at 1.5 per cent in 2012-13, 5.6 per cent in 2013-14, (-) 0.2 per cent in 2014-15, 0.7 per cent in 2015-16 and 4.9 per cent in 2016-17. • The Gross Capital Formation (GCF) in Agriculture and Allied Sectors relative to Gross Value Added (GVA) in...
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