This book presents evidence on the determinants of economic growth in India. There are two major puzzles about the Indian economy: first, why was there so title acceleration in GDP growth despite wide ranging economic reforms introduced in the two-year period 1991 to 1993. Second, what has caused the acceleration in economic growth since 2003. In addition, the book provides evidence to document that savings, investments, and GDP growth in India reveal unambiguous signs of a structural break and hence rejects the hypothesis that 8 per cent plus GDP growth in India in unsustainable.
ABOUT THE AUTHOR Surjit S. Bhalla
Surjit S. Bhalla is managing director of Oxus Research and Investments, a New Delhi-based economic research, asset management and emerging-markets advisory firm. He taught at the Delhi School of Economics and held various positions at the Rand Corporation, the Brookings Institute, the research and treasury departments of the World Bank, Goldman Sachs (1992-94) and Deutsche Bank (1994-96). He is the author of research papers on a wide range of topics including farm productivity and agricultural policy; poverty and inequality; the determinants of growth, with emphasis on the separate roles of economic and political freedom; inflation and capital account convertibility; and determination of interest rates, exchange rates and stock prices. He is also a regular contributor to newspapers and magazines on economics, politics and cricket.
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