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Development Expenditures of the States in the Post-Liberalisation Period
The states have witnessed a sharp fall in their shares of development expenditure in gross domestic product in the post-liberalisation period compared to the same in the 1980s, albeit with some recovery in recent years. This article attempts to analyse and explain such a trend against the backdrop of the constraints in the independent fi scal policymaking powers of the states.
Non-incriminating thanks are due to Jayati Ghosh, Subhanil Chowdhury and Surajit Das for their valuable comments on an earlier draft of this paper.
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