ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Amay NarayanSubscribe to Amay Narayan

Long-run Performance of the Organised Manufacturing Sector in India

The Indian manufacturing sector has not increased its share in output or employment along expected lines. The aggregate trends in this sector at the 3-digit level of the National Industrial Classification from 1983 to 2017 are investigated here. Using data from the Annual Survey of Industries obtained from theEPWRFITS, it identifies three sub-periods within the overall period: 1988–96, 1996–2006, and 2006–17. A shift-share decomposition is used to show that most of the decline in the labour to capital ratio can be explained by within-industry changes. Finally, industries are analysed with respect to their capacity to deliver job and wage growth.

Mapping India’s Finances

As a useful adjunct to other macroeconomic accounts, this paper describes financial flows between different sectors of the Indian economy from 1955 to 2015. It finds that the consolidated government sector has the largest net deficit, while the households sector has the largest net surplus. The private corporate sector is running larger deficits than at any other time in the past, implying more reliance on external credits. With liberalisation and globalisation, the rest of the world sector is now the second-largest net surplus sector in the economy.
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