Volume : V, Issue : V, May - 2015

Structural Change in the Course of Economic Development ; India‘s Experience

Dr. Meenu Jain

Abstract :

 Since its origin economic theory has given significant attention to structural changes (Quesnay, 1758; Turgot, 1766; and Steuart 1767). For Pasinetti, economic growth is linked to continuous structural transformation and change. During 1991 when new economic policy was unleashed, a new growth story got a big push and  consequently India underwent a structural transformation in the form of service led growth. It was believed that the  early development phase of any country, expansion of output in manufactured goods precedes growth in the services  sector. But in the case of the Indian economy, the services sector has been taking a substantial lead over manufacturing. Can the service sector become a gateway to development in India ? In this light ,this paper analyzes and discusses the structural changes in India 

Keywords :

Article: Download PDF   DOI : 10.36106/ijar  

Cite This Article:

Dr.Meenu Jain Structural Change in the Course of Economic Development ; India's Experience Indian Journal of Applied Research, Vol.5, Issue : 5 May 2015

Number of Downloads : 589

References :