What is it about?
This paper examines the effect of unemployment and inflation on the economic growth of a developing state Bihar (INDIA) based on time-series data from 1990 to 2019. It recommends large-scale investment in physical capital and skill development and carry-on renewal at opportune moments to keep a steady positive trend of economic growth.
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Why is it important?
There are significant benefits from the increased supply and improvement in the quality of physical capital which increases labor productivity as well as investment in human capital.
Perspectives
The investment made in terms of mechanized technologies, supporting infrastructure and appropriating the knowledge relating to their management; and adopting new technologies and practices involving better innovation in agriculture, forestry, manufacturing, and relevant skill development will sustain and boost the value-added growth of this developing state of India.
Dr. Jitendra Kumar Sinha
Retired from Directorate of Economics & Statistics, Bihar.
Read the Original
This page is a summary of: Economic impact of unemployment and inflation on output growth in Bihar during 1990–2019, Statistical Journal of the IAOS, April 2022, IOS Press,
DOI: 10.3233/sji-210848.
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