Abstract
Demographic trends have a substantial impact on any country’s economic performance. The present study demonstrates and analyzes the probable relationship between population indicators and economic growth of Maharashtra. For population dynamics and economic growth assessment, we have selected these indicators such as – per capita income, total population, urban population, literacy rate, birth rate, death rate and sex ratio of 1961, 1971, 1981, 1991, 2001 and 2011. To understand the Bivariate association between population indicators and economic growth and which variable will more affect economic growth, various statistical techniques has been used like- Karl Pearson Product Movement Correlation method and Stepwise Multivariate Regression has been used. The result shows that there is a positive high correlation between per capita income and total population (R = 0.858) that means when population increase that translate into increase of participation in the workforce. And there is also high positive correlation between per capita income and urban population (R = 0.883). Considering all the causal factors in the stepwise regression, it indicates that the highest correlation coefficient (R2 =0.779) which collectively explains the 77.90 per cent change through urban population in economic growth.
Published Version
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