By Biswa Swarup Misra (auth.)
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Additional resources for Regional Growth Dynamics in India in the Post-Economic Reform Period
Example text
8 in the post-reform period. 4 per cent per annum. The better growth record of the UTs as a group, however, needs to be viewed in the context that the four UTs account for a very small proportion of the all-India population and the GDP. Overall, there has been a noticeable improvement in per capita GSDP for all three categories of states in the post-reform period because of the sobering effect of a slowdown in population growth during this period. 4 presents the growth rate of GSDP and per capita GSDP across the states.
As far as UTs are concerned, the range of variation of contribution to different sectors to SDP has declined for all the three broad subsectors. 1 per cent. 5 per cent of SDP for Pondicherry in the post-reform period. In the preceding sections we have discussed the growth of different sectors across the states and the changing shares of different sectors in the SDP in the pre-reform and post-reform period. The discussion of the growth profile in the ‘share’ and ‘growth’ dimension leads us to comment on the relative importance of different sectors in their contribution to the growth for the states and how the same has changed over time.
Financial sector reforms were initiated in India in 1992–93 to promote a diversified, efficient 10 Regional Growth Dynamics in India and competitive financial system. Banks were supposed to evolve as truly commercial entities in the post-reform scenario. In the new scenario, how the credit–growth relationship has evolved at the state level is an interesting matter for enquiry. In the broader canvas of the credit–growth relationship, one issue which is still controversial today is the causal relationship between credit and output.