Some Dynamic Aspects of Net Domestic Product in India - A Sectoral Analysis

Economic growth of a nation refers to continuous expansion in its real income. As a consequence, growth in real national income over a sufficiently long time horizon enables the nation to acquire the take-off stage in the process of economic development. Essentially, economic development refers to the process of growth, duly accompanied by structural changes in the economy. Alternatively, economic development is reflected through the nature and strength of interlinkages among different sectors of the economy. No doubt, there are known to be a number of conceptual limitations associated with net domestic product (NDP), yet it is widely accepted to be a single useful measure of the income of a nation. The present paper aims at examining some dynamic aspects (like pace of growth; nature, pattern and speed of structural changes; and extent of intersectoral linkages) in aggregated/disaggregated NDP of India.