What is it about?
The paper measures the contribution of investment in major sectors in the economic growth of Bihar (India) by decomposing their contributions by setting out stationary structural relations and estimating the contribution of investment in the Agricultural & Allied Sector in the overall growth of the economy.
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Why is it important?
The study indicates a strong influence of the Agricultural & Allied Sector on the Industry and Service Sector and the crowd-in effect of public investment has been established.
Perspectives
The study supports the pursuit of public sector investment in the Agricultural & Allied Sector to increase sectoral as well as aggregate growth rate in GDP at a feasible and manageable within the overall government expenditure, thus it is rational- more so, in the light of providing food security.
Dr. Jitendra Kumar Sinha
Retired from Directorate of Economics & Statistics, Bihar.
Read the Original
This page is a summary of: Contribution of investment in economic growth of major sectors: With focus on agriculture and allied sector in Bihar, Statistical Journal of the IAOS, April 2017, IOS Press,
DOI: 10.3233/sji-160318.
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