Increase in India s Growth Rate-Facts and a Tentative Explanation

Increase in India's Growth Rate Facts and a Tentative Explanation Sandeep Bhargava Vijay Joshi This article considers changes in India's growth rate at the aggregate and broad sectoral levels as well as at the disaggregated sub-sectoral levels. The authors investigate whether the changes in India's growth rate have come from public or the private sector and suggest that most of the growth has come from the private sector They also suggest that it is the combination of stability of public investment and economic liberalisation which has been the key to the improved growth performance.