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Regional Accounts of I ndia: Methods, New Estimates, and Their Uses
Author(s) -
Sethia Deepak
Publication year - 2016
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/roiw.12148
Subject(s) - economics , macro , national accounts , investment (military) , consumption (sociology) , gross fixed capital formation , product (mathematics) , balance of trade , gross domestic product , macroeconomics , social science , geometry , mathematics , sociology , politics , computer science , political science , law , programming language
For large economies with substantial regional variation, it is of great importance for policymakers and economic analysis that macro‐economic statistics are broken down by region. This paper reviews the regional accounts in I ndia, discusses their role in I ndian federal and state policies, and provides new estimates to cover major data gaps. Statistics on domestic product by I ndian state, broken down by industry, are regularly published. But despite demands and recommendations by various commissions and policymakers, a comprehensive system of regional accounts is yet to be developed. New estimates for the period 1993–2010 are presented for saving and the macro‐economic expenditure by I ndian states, like final consumption, capital formation, and trade balance. They show, for example, that some of the fastest growing I ndian states have increased their saving and investment rates to 50 percent of their domestic product.