Economic Growth in India

Economic Growth in India Ashok Rudra IT is a pity that K N Raj's "Some Observations on Economic Growth in India over the Period 1952-53 to 1982-83" {EPW, October 13, 1984), which contains several extremely serious and probing thoughts on the much discussed question of the alleged slowing down of industrial growth in India and the reasons thereof should suffer from the fact of starting off with some highly dubious statistical calculations. The second part of his note starts with the claim that he can explain the apparent increase in incremental capital-output ratios without introducing, " .. any such subjective judgments and statistical adjustments ., ", and he does manage to put forward quite a few plausible explanations. As such, by his own admission he could have dispensed with the statistical manipulations which would unnecessarily give rise to negative reactions among discerning readers.