Some explorations into India's post-independence growth process, 1950-51-2002/03: The demand side
- 2010
- p.47-58.
- 9 Oct
Aggregate demand growth in India during 1950-51 to 2002-03 has been consumption-driven at the margin, with the relative contribution of consumption having risen in the high growth phase covering the period 1980-81 to 2002-03. In this phase, consumption growth accelerated and the gap between rates of growth of investment and consumption narrowed substantially. Further, in this high growth phase, aggregate demand growth was consumption-driven not because of increases in the private final consumption expenditure ratio but because of increases in the government final consumption expenditure ratio. - Reproduced.