Abstract
The present paper attempts to evaluate the economic performance of India for the period of 1981-2007, using the conventional growth accounting technique, also known as “Solow growth model”. In particular, it examines the relative contributions of factor accumulation and productivity growth in the economic growth of the economy. The main objective is to check if the growth is sustainable. Also, an attempt is made to find the proximate explanation of any major ups and downs that happened in the economy during this period. The paper concludes by arguing that the recent spectacular performance of the Indian economy is mainly fuelled by improvement in TFP.
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