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

R. Radhakrishna ¹

Affiliations
1 Indira Gandhi Institute of Development Research, Mumbai, IN

Abstract

Professor Chitre, Dr. Khirsagar and distinguished participants, I consider it a rare privilege to be associated with this function and workshop. A visit to Gokhale Institute is home coming. I see many of my old friends here: Professor Wadhwa, Dr. Apte and Professor Gadam. They were my teachers in some respect and also close friends. I pursued my doctoral studies here. Professor D. R. Gadgil taught me research methodology. I must say that I have yet to come across another scholar of his eminence. I have met a number of scholars, western and Indian but I have not met a scholar of the distinguishing eminence and intellect of Professor D. R. Gadgil Professor D. R. Gadgil was a product of the independence movement and he was thickly involved in the building of the nation, particularly, in the building of a moral society in the post-independence period.

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R. Radhakrishna ¹, G. K. Misra ²

Affiliations
1 Department of Economics, Marathwada University, IN
2 National Institute of Community Development, Hyderabad, IN

Abstract

THE few studies that have been made on the consumption patterns of India are very aggregative and restricted to the estimation of the expenditure elasticities from one period cross section data, in order, primarily, to project the future demand for the various five year plans. Such studies ignore the complex diversities of the consumption patterns and assume artificial uniformity.

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R. RadhaKrishna

Abstract

Econometric models built to delineate consumer behavior assume overwhelming importance in planned economic growth. They have come to be regarded as indispensable tools in the preparation of plans. These models are highly useful in making demand forecasts and in studying the effect of the individual price movements on forecasting and their knowledge is a must if manipulation of price structure is to become an important instrument of planning.

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