01222pab a2200157 454500008004000000100001900040245008200059260000900141300001600150362001100166520079700177650002000974700001900994700001701013773003401030180718b2007   xxu||||| |||| 00| 0 eng d  aRanjan, Rajiv,  aIndia's potential economic growth: measurement issues and policy implications  c2007  ap.1563-572.  a28 Apr  aThis paper provides estimates of the potential growth rate for India by adopting alternative approaches of statistical trend filtering techniques and a production function. The Hodrick-Prescott filtering technique leads to estimated potential GDP growth of about 7 per cent. The warranted growth rate hovers around 8 per cent for the more recent period. The multivariate production function framework yields a potential growth of 6.6 per cent, which could be an underestimate given the data limitations. From the policy perspective, changes in policy instruments are linked to measures of output and the inflation gap within the framework of a policy reaction function. Empirical results showed that policy actions have significant association with output gap and inflation gap. - Reproduced.  aEconomic growth  aDhal, Sarat C.  aJain, Rajeev  aEconomic and Political Weekly