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

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Growth Rate of India s GDP, 1950-51 to 1987-88-Examination of Alternative Hypotheses

Growth Rate of India's GDP, 1950-51 to 1987-88 Examination of Alternative Hypotheses R Nagaraj A rigorous statistical testing of the alternative hypotheses on the long-term trend growth rate of India's (measured) real gross domestic product does not reject the proposition of a break in the series at 1979-80 and an increased growth rate thereafter This result is found to hold even when the observation for 1979-80 (a statistical outlier) is dropped. Moreover, the statistically significant break with a positive sign since 1979-80 also is evident for GDP excluding 'public administration and defence'; and even after adjusting for the observed lowering of the growth of the latter in the revised (with 1980-81 as the base year) series of National Accounts Statistics.

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