By N.S.S. Narayana, Kirit S. Parikh and T.N. Srinivasan (Eds.)
This ebook provides an empirically expected utilized basic equilibrium version for India and the research of a variety of coverage matters performed utilizing the version. a number of the chapters within the booklet care for public distribution rules, international alternate and relief regulations, rural works programmes, phrases of exchange regulations, fertilizer subsidy regulations and irrigation improvement guidelines. those guidelines are analysed when it comes to their speedy and medium time period results on construction, intake and costs of other commodities, at the development of the financial system in addition to at the distribution of source of revenue between various teams in rural and concrete parts and the prevalence of poverty within the financial system. each one bankruptcy facing coverage research describes the analytical concerns concerned, the historic context and event of the coverage involved, result of the version situations and the coverage insights that emerge
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Extra resources for Agriculture, Growth and Redistribution of Income: Policy Analysis with a General Equilibrium Model of India
42 Agriculture, Growth and Redistribution of Income Most of our output estimates were in physical units. Some commodity outputs were valued in Indian rupees at some base year prices. Appropriate wholesale price indices were used in bringing them to a common base year (1970) prices. Depending on the commodity and the sector to which it belonged either a base year wholesale price was used in converting the value output to physical units or a base year exchange rate (assumed to be Indian Rs. 5 per US dollar in 1970) was used in converting the value o u φ u t in 1970 Indian rupees to 1970 US dollars.
While several explanations have been offered in the lit erature explaining this discrepancy, we merely note here that (a) estimates of food consumption based on NSS data are generally higher; and (b) estimates of total private final consumption expenditures are roughly the same between NSS surveys data and official data. In the light of (a) and (b), the standard LES equation was slightly modi fied and estimated by us as follows: Pi = Cij P/ + bij[Ej - ΣΙ^^ CiJ + a^j -f u^j (64) i = 1,10 j = 1,10 = log 1 + Var(Y) See eqns.
Were all culled out from various data sources and exogenously specified. Buffaloes in milk: BM, = P J l + n J ( L V B F L X . , (29) where LVBFL^ BM^ n^ Pbm = = = ~ stock of buffaloes in year t; stock of buffaloes in milk in year t; natural growdi rate of buffaloes; and proportion of buffaloes in milk in total number of buffaloes. The stock of buffaloes in milk was estimated through historical natural growth rate of buffaloes, because (a) die number of working or non-working buffa loes is much less compared to die number of catüe; (b) draft power (relating to work on farms) provided by buffaloes is relatively small compared to bullocks, and (c) buffaloes, their milk yields being higher, are maintained as profitable commercial assets not only by farmers, but by numerous milk- 36 Agriculture, Growth and Redistribution of income selling entrepreneurs.
Agriculture, Growth and Redistribution of Income: Policy Analysis with a General Equilibrium Model of India by N.S.S. Narayana, Kirit S. Parikh and T.N. Srinivasan (Eds.)