Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

Dhanmanjiri Sathe ¹

Affiliations
1 Department of Economics, University of Pune, Ganesh Khind Road, Pune 411007, Maharashtra, IN

Abstract

In this article, India's sources of structural change for from 1951-1952 to 1983-1984 have been examined. Though this entire period falls before the '1991- libralization' policy shift, there were subtle overtures towards opening up since the early seventies. Capturing the sensitivity of the economy to this policy shift has been attempted here. Six input-output tables with eighteensector classification scheme have been used. It was found that the nonproportional growth in the Indian economy was largely driven by technological change and, to a certain extent, import substitution from 1951- 1952 to 1983-1984. The contribution of exports in changing the structure of the Indian economy was quite limited for the said period.

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Dhanmanjiri Sathe ¹

Affiliations
1 Institute of Management Development and Research, Pune, IN

Abstract

In this paper, we have developed a methodology for creation of an import matrix. This generated matrix has then been compared to the published import matrix for 1991-92, for the Indian economy. We find that there is a wide discrepancy between the two. This raises questions regarding the use of a generated import matrix, especially in a liberalizing atmosphere. We have also found the actual and the potential linkages for 1973-74, 1983-84 and 1991-92. Contrary in the expectations, we find that these two are highly and positively correlated. The reasons for this have been examined. We have also looked into the measures of import substitution and the net foreign exchange savings.

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