ECONOMIC GROWTH IN INDIA DURING 1950–2015: NEHRUVIAN SOCIALISM TO MARKET CAPITALISM

Comparisons of pre and postreform economic growth in India are widely researched in the literature. This paper adds to this literature, but with a sectoral growth accounting perspective. We compare the proximate sources of economic growth in India during the 1950–1980 periods, the so‐called Nehruvian socialist regime, with that of the post‐1980 period, which includes the pro‐business reforms in the 1980s and more aggressive pro‐market reforms in...