ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Is Indian Industry Demand or Supply Constrained

Is Indian Industry Demand or Supply Constrained? Ashok Kumar Lahiri Prannoy Roy The growth of Indian industry has been held by some to be limited 'supply constraints' and shortages in savings resulting from an inadequacy in the production of capital goods. On the other hand, the question has been raised by others whether there is not some role for 'demand' as a factor constraining growth. The aim of this paper is to provide a systematic empirical test to identify the years (if any) in which the Indian industrial sector was demand constrained and those in which it was supply constrained.

The Industrial Sector in India-A Quantitative Analysis

A Quantitative Analysis Ashok Kumar Lahiri Srinivasa Madhur Dipankar Purkayastha Prannoy Roy This paper attempts an empirical investigation of the factors affecting output, prices, wages and raw material costs in the factory sector of Indian industry. It forms part of a larger system of equations which together constitute a macro-econometric model of the Indian economy The focus of the study is on the price-quantity adjustment mechanism in Indian industry with specific attention to the role of government policies and international trade in the determination of output and prices. Since there has been considerable diversity in the behaviour of the different constituents of the industrial sector in India, the model is constructed in a disaggregated four-sector framework classified on the basis of end-use: consumer goods, capital goods, basic goods and intermediate goods.

Share, Size and Subsistence-Revisiting Some Old Controversies of Tenancy

The last fifteen years or so have seen a resumption of the debate over share-tenancy. An attempt is made in this paper to construct a theoretically vigorous model of tenancy based on assumptions which are realistic to India.

The Budget, Money and Credit-A Macroeconometric Analysis

The Budget, Money and Credit A Macroeconometric Analysis Srinivasa Madhur Pulin Nayak Prannoy Roy The authors here present a model of the fiscal and monetary sectors of the Indian economy for short-term macro economic forecasting and policy formulation and, in particular, for analysing the implications of the annual budget of the Central government for the economy at large. The effect of the budget on certain key macro variables such as money, credit and inflation is sought to be studied with the help of the model It is seen that many of the policy variables in the monetary sector which earlier investigations seemed to find insignificant can in fact be important and effective instruments in the hands of policymakers. It is also found that in formulating its interest rate policy, it is futile for the central bank to raise or lower all rates of interest by a common factor

Farm Size and Labour Use- A Comment

Farm Size and Labour Use A Comment Prannoy Roy AFTER almost two decades of divergent views on the inverse relation between farm size and productivity, the mere fact that two of the main participants in the debate have attempted to find common ground is, in itself, welcome [A Rudra and A K Sen, Economic and Political R and S (1980)]. Besides that, however, little eke seems to emerge from this "synthesis". R and S (1980) essentially amounts to both authors agreeing that (a) the inverse relation is not a "universal" phenomenon in Indian agriculture,1 and (b) in the various regions of the country where the inverse relation has been tested it is "more frequently confirmed than rejected" (ibid, p 393).
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