Revisiting Regional Growth Dynamics in India in the Post Economic Reforms Period

Revisiting Regional Growth Dynamics in India in the Post Economic Reforms Period analyses the state level performance in three sub periods 2000-03, 2004-08 and 2009-12 by broadly corresponding to low growth, high growth and the post crisis phase respectively. The book discusses the game changer initiatives that put India into a higher and sustainable growth trajectory. The author highlights the key challenges to inclusive growth in a federal set up and suggests the way ahead. Apart from growth, the book examines the issue of regional inequality. It develops a consistent index for infrastructure facilities, by encompassing the social and economic dimension for Indian states and analyses the growth. The book analyses the importance of credit and health from a growth perspective by adopting a blend of analytical rigour and econometric techniques to understand India's growth process. This book is a sequel to Regional Growth Dynamics in India in the Post Economic Reform period (Palgrave Macmillan, 2007).

Biswa Swarup Misra is currently working as a Professor of Economics and Associate Dean at the Xavier Institute of Management, Bhubaneswar. The author was an Economist in the Reserve Bank of India during 2002-2010. His previous industry engagements include Chief Economist at Bank of India and Economist at the Union Bank of India. He has been a core team member for the research publications and policy documents of the Reserve Bank of India. He has been a visiting faculty in the Reserve Bank's training establishments. His research interest includes study of Growth Dynamics, Fiscal Behaviour, Finance and Development, Banking and Macro Economic Modelling. Professor Misra has published in journals such as Comparative Economic Studies, Reserve Bank's Occasional Papers, the Journal of Quantitative Economics, the Indian Economic Journal and Journal of Income and Wealth. He is the author of, Regional Growth Dynamics in India in the Post-Economic Reform Period, published by Palgrave Macmillan, UK and Credit Cooperative in India-Past, Present and Future, published by Routledge. Apart from Research, Professor Misra contributes regularly to editorials of Business Line on contemporary macroeconomic issues. He is a Member of the Scientific Council of Journal of Management and Financial Sciences, Warsaw School of Economics, Poland. Dr. Misra has been a member of the Working Group on Savings constituted by the Planning Commission for the 12th Five Year Plan and at present is a Member of the 'Expert Group for Development of a Methodology for Computation of an Index for Infrastructure Development at the all India level and for States' constituted by the Ministry of Statistic and Programme Implementation, New Delhi.

1. Introduction
2. Key Challenges
2.1. Macroeconomic Challenges
2.1. Center-State and inter-state relations
2.3. Growth Drivers
2.4. Conclusion
3. Growth Performance
3.1. Growth Performance
3.2. Sectoral Growth Performance
3.3. Sectoral Contribution to Growth
3.4. variability of Output
3.5. Contribution of States to Growth in GDP and Population
3.6. Conclusion
Annex 3.1. Data Issues
Annex 3.2. Setcoral Growth 2000-03
Annex 3.3. Setcoral Growth 2004-08
Annex 3.4. Setcoral Growth 2009-12
Annex 3.5. Setcoral Growth 2000-12
Annex 3.6. Setcoral Shares 2000-03
Annex 3.7. Setcoral Shares 2004-08
Annex 3.8. Setcoral Shares 2009-12
Annex 3.9. Setcoral Shares 2000-12
Annex 3.10. Share of States in Combined SDP and Population
Annex 3.11. Contribution to Growth in Combined Output and Population
Annex 3.12. Variability in Sectoral Output
Annex 3.13. Sectoral Contribution to Growth
4. Income Inequality
4.1. Consumption Based Inequality
4.2. Behaviour of Per Capita Income
4.3. Inequality Measures
4.4. Convergence Amongst Indian States
4.5. Conclusion
Annex 4.1 Estimates of Absolute Convergence Behaviour in Cross section and Panel Dimension
5. Infrastructure and Growth
5.1. Approach to Provision of Infrastructure
5.2. Recent initiatives for infrastructure push
5.3. Infrastructure Index
5.4. Infrastructure Index-Relative Position of States
5.5. Infrastructure and Growth
5.6. Conclusion
Annex 5.1. Causality between Social and Economic Infrastructure for General Category States
Annex 5.2. Causality between Social and Economic Infrastructure for Special Category States
Annex 5.3. Causality between growth in SDP and growth in Economic Infrastructure for GCS
Annex 5.4. Causality between growth in SDP and growth in Social Infrastructure for GCS
Annex 5.5. Causality between growth in SDP and growth in Overall Infrastructure for GCS
Annex 5.6. Causality between growth in SDP and growth in Economic Infrastructure for SCS
Annex 5.7. Causality between growth in SDP and growth in Social Infrastructure for SCS
Annex 5.8. Causality between growth in SDP and growth in Overall Infrastructure for SCS
Annex 5.9. Overall Infrastructure Index - General Category States (2001-2010)
Annex 5.10. Overall Infrastructure Index-Special Category States (2001-2010)
Annex 5.11. Infrastructure Index with Qualitative Dimensions for General Category States (2004-2010)
Annex 5.12. Infrastructure Index with Qualitative Dimensions for Special Category States (2004-2010)
6. Health and Growth
6.1. Review of Literature
6.2. Stylised Facts
6.3. Empirical Methodology
6.4. Results
6.5. Concluding Observations
Annex 6.1 Panel Unit Root test
Annex 6.2 Panel-Cointegration tests
7. Credit and Growth
7.1. Growth of Credit and Credit Allocation Across Sectors
7.2. Credit-Output growth at the State level
7.3. Shares of different sectors in credit and output
7.4. Methodology and Empirical Results
7.5. Conclusion
Annex 7.1. Growth of Sectoral Credit and Output 2001-2004
Annex 7.2. Growth of Sectoral Credit and Output 2001-2004
Annex 7.3. Growth of Sectoral Credit and Output 2001-2004
Annex 7.4. Growth of Sectoral Credit and Output 2001-2011
Annex 7.5. Sectoral Shares in Credit and Output 2001-2004
Annex 7.6. Sectoral Shares in Credit and Output 2005-2008
Annex 7.7. Sectoral Shares in Credit and Output 2009-2011
Annex 7.8. Unit Root Tests-General Category States
Annex 7.9. Unit Root Tests – Special Category States
Annex 7.10. Panel-cointegration Tests
Annex 7.11. FMOLS Estimates of Responsiveness Between Credit and Output