By N. S. S. Narayana
This booklet provides an empirically anticipated utilized normal equilibrium version for India and the research of quite a lot of coverage concerns conducted utilizing the version. a few of the chapters within the ebook take care of public distribution regulations, international alternate and reduction guidelines, rural works programmes, phrases of exchange rules, fertilizer subsidy guidelines and irrigation improvement guidelines. those guidelines are analysed by way of their speedy and medium time period results on construction, intake and costs of alternative commodities, at the progress of the financial system in addition to at the distribution of source of revenue between various teams in rural and concrete parts and the prevalence of poverty within the economic climate. each one bankruptcy facing coverage research describes the analytical concerns concerned, the historic context and adventure of the coverage involved, result of the version eventualities and the coverage insights that emerge
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Additional resources for Agriculture, Growth, and Redistribution of Income: Policy Analysis With a General Equilibrium Model of India
NSA was estimated earlier. 55 by die year 2P00 and a suitable time function was specified accordingly. , were all culled out from various data sources and exogenously specified. Buffaloes in milk: BM, = P J l + n J ( L V B F L X . , (29) where LVBFL^ BM^ n^ Pbm = = = ~ stock of buffaloes in year t; stock of buffaloes in milk in year t; natural growdi rate of buffaloes; and proportion of buffaloes in milk in total number of buffaloes. The stock of buffaloes in milk was estimated through historical natural growth rate of buffaloes, because (a) die number of working or non-working buffa loes is much less compared to die number of catüe; (b) draft power (relating to work on farms) provided by buffaloes is relatively small compared to bullocks, and (c) buffaloes, their milk yields being higher, are maintained as profitable commercial assets not only by farmers, but by numerous milk- 36 Agriculture, Growth and Redistribution of income selling entrepreneurs.
While several explanations have been offered in the lit erature explaining this discrepancy, we merely note here that (a) estimates of food consumption based on NSS data are generally higher; and (b) estimates of total private final consumption expenditures are roughly the same between NSS surveys data and official data. In the light of (a) and (b), the standard LES equation was slightly modi fied and estimated by us as follows: Pi = Cij P/ + bij[Ej - ΣΙ^^ CiJ + a^j -f u^j (64) i = 1,10 j = 1,10 = log 1 + Var(Y) See eqns.
However, the Indian data over 1950-80 reveal that the actual ICOR has in creased over time and was in the range of 6-8 in the late seventies. 7. Our assumption is a compromise between the recent past and the Planning Commission's optimism. Finally, one must recognize that part of the non-agricultural output is generated in the rural areas and the income from that accrues to rural popu lation. ,) (46) We have no direct data to estimate b^^. 4. Having described the essential features of the supply sub-models we turn to the sectoral aggregation of our model.
Agriculture, Growth, and Redistribution of Income: Policy Analysis With a General Equilibrium Model of India by N. S. S. Narayana