Growth Performance, Structural Transformations and Inter-Sectoral linkages in India
The present analytical study based on regular time series data (for the period 1980-81 to 2016-17) aims at examining growth performance, structural transformations and inter-linkages with respect to real net domestic product in Indian economy by applying distributed lagged modelling. As per main findings from the study, subsequent to the development of primary sector, tertiary sector has come into existence, thereby providing an indication towards the development of secondary sector to have been by-passed. For the balanced development of the economy, adequate steps needs be undertaken to strengthen the primary sector, as it is the source of supply of raw materials to the industrial units of the economy. Furthermore, it was observed that primary & secondary sectors on one hand and secondary & tertiary sectors on the other hand, were found to be strongly inter-linked with each other in the Indian economy. But income from primary sector did not exhibit any perceptible inter-sectoral linkages with tertiary sector of the economy, which may pose threat to the sustainability of the growth of service sector.
Keywords: Structural Transformations, Inter-Sectoral Linkages, Net domestic Product, Distributed Lagged Modelling.