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Title: Public Infrastructure Investment Economic Growth and Fiscal Sustainability in India An Empirical Analysis
Researcher: Chotia, Varun
Guide(s): Rao, N. V. M.
Keywords: Economics, Investment, Economic Growth, Fiscal Sustainability
University: Birla Institute of Technology and Science
Completed Date: 2017
Abstract: The interlinked aspects of Public Infrastructure Investment, Economic Growth and Fiscal Sustainability have been of great importance in terms of the proper functioning of any developing economy, like India. newlineThe importance of Infrastructure is well established with a general agreement being developed across the world that Infrastructure has a direct and positive correlation with the economic growth and development of a nation. Post liberalization era, the focus on infrastructure development has been increasing continuously. From a growth enhancing point of view, Infrastructure sector has emerged as one of the most significant sectors in recent years. The investment in infrastructure as a percentage of Gross Domestic Product (GDP) has increased from 4.9 per cent in 2002-03 to approximately 7.2 per cent in 2011-12 and is estimated to further increase up to 10 per cent by 2016-17. The share of bank funding in financing the Infrastructure sector increased from 3.74 per cent in 2002 to around 10.40 per cent in 2015. It is also predicted that augmented spending on infrastructure would reach United States Dollar (USD) 19 billion during the 12th five year plan period i.e Financial Year (FY) 2012-17. Based on the review of literature, three major research gaps were identified. Firstly, till date very few studies had been conducted in India, analyzing the relationship between Public Infrastructure Investment and economic growth, particularly from a state level point of view. Secondly, there was insufficiency of research works which had explored and suggested the best mode of infrastructure financing for India s major Infrastructure sectors. Also, the aspect of determining the major determinants of attracting any Public Private Partnership (PPP) in India was largely untouched. Thirdly, the vital relationship between debt and economic growth needed evaluation, particularly from an Indian context. Also, measurementof fiscal sustainability and estimation of a threshold value of debt/GDP ratio for Indian states still remained re
Pagination: 274p.
Appears in Departments:Economics & Finance

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