1st Edition
Development and Economic Growth in India Drivers for Indian States
Notwithstanding the improved growth performance of India, development disparity across its states has widened in the first two decades of the 21st century. This book examines development drivers of Indian states and what the necessary course corrections could be to achieve balanced regional growth.
The book begins with a discussion on the evolution of growth and inequality across the states and delves into decomposing growth. It looks at three broad themes which are decomposition of growth and determinants of TFP, impact of Infrastructure on growth and inequality, and the institutional dimension of growth and explains why they are pivotal for sustainable growth in Indian states.
This book will be a useful reference to those interested in understanding growth and inequality in India.
1. The Indian Growth Story 2. Growth Performance of Indian States 3. Inequality in Indian States 4. Sources of Growth in Indian States 5. Determinants of Productivity 6. Infrastructure and Regional Inequality 7. Political accountability and Development in Indian States
Biography
Biswa Swarup Misra is the Dean (Academics) and Professor of Economics at the Xavier Institute of Management, XIM University, Bhubaneswar, India. Prior to joining Academics, he was an economist at the Reserve Bank of India. He has also served as the Chief Economist of Bank of India and Bank of Baroda, on sabbatical from XIM. He has publications in Journals such as Development Policy Review, Comparative Economic Studies, Journal of Asia Pacific Economy, Review of Urban and Regional Development Studies, Journal of International Development, Journal of Quantitative Economics, India Growth and Development Review, Indian Economic Journal, and RBI’s Occasional Papers on issues related to development, banking, credit cooperatives, and infrastructure.
‘The India growth story has attracted considerable attention and interest in development literature. From being a laggard, the country has now emerged as one of the fastest-growing countries in the world. Most commentators tell this story as a unitary one glossing over the fact that India is a federation of an assortment of states whose growth performance has been wildly divergent. Biswa Swarup Misra’s Development Drivers of Indian States takes us on an informed empirical excursion on the factors that explain the differential growth performance of Indian states. In this way, it is an essential addition to this small but growing literature on the economic performance of Indian states.’
Sunil Mani, Director and Professor, RBI Chair, Centre for Development Studies, Trivandrum, Kerala
‘An Excellent book on Development Drivers of States by the author with a rich knowledge on the topic. The range of issues- growth and its decomposition, regional inequality, the impact of economic and social infrastructure on productivity and inequality, and political accountability in Indian States are outstanding research output of best standards on the subject.’
K.R. Shanmugam, Director, Madras School of Economics
‘Inequality of income among Indian states has been a major challenge for policy makers in India. India, to sustain a growth level of about 8 to 10%, requires contribution from majority of the states. Prof. Misra in this well researched book, brings out the factors contributing to inequality – lack of investment in education and health, unwillingness of the political leadership in laggard states- which requires immediate attention of the political leadership. This book is highly recommended for Policymakers, academicians and researchers.’
B.A. Prabhakar, Former Chairman and Managing Director, Andhra Bank
