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Empirical study on Human Development Index of Indian States & UTs: Data and Calculation

Human Development Index Analysis of Indian States and Union Territories The Human Development Index (HDI) is a composite measure that assesses the development level of regions based on three key dimensions: health, education, and standard of living. This analysis presents the calculation of HDI for all Indian states and union territories using the latest available data on life expectancy, education metrics, and per capita income. The results reveal significant disparities across regions, with Delhi, Kerala, and Himachal Pradesh emerging as top performers while states like Bihar, Chhattisgarh, and Uttar Pradesh require focused development efforts. Methodology for HDI Calculation The HDI calculation follows the United Nations Development Programme (UNDP) methodology, which transforms indicators in different units into indices between 0 and 1 through normalization and then combines them using a geometric mean. Health Dimension The health dimension is measured by life expectancy at bi...

Navigating India’s Debt Sustainability Amid Growth Headwinds

Aviral Akshat 1 , Chellsea Lauhka 1 , Poulami Sarkar 1 aviralakshat.iitd@gmail.com, chellsea.lauhka31@gmail.com, poulamisarkar343@gmail.com 1 Indian Institute of Technology, Delhi As India enters the mid-2020s, its fiscal outlook is drawing increased scrutiny. Public spending surged in the aftermath of the global pandemic, pushing up both central and general government debt-to-GDP ratios. These trends have sparked concern in policy circles and among international observers. The International Monetary Fund (IMF) has warned that under adverse conditions, general government debt could be near 100% of GDP by FY2027–28 —particularly if climate-related investments rise without matching revenue efforts. Meanwhile, provisional GDP estimates for FY2024–25 show a slowdown to 6.5%, the weakest growth since the pandemic year of 2020–21. This mix of softening growth and elevated debt highlights the challenge of maintaining fiscal discipline while ensuring sustained public investment—both ess...

Kaldor's development Theory

Nicholas Kaldor, a respected British economist, liked the policy of industrialization and industry effects." The Kaldor model for growth and development, developed by the renowned British economist Nicholas Kaldor, provides a different approach to economic growth that emphasizes industrialization and sectoral interactions. A key assumption made by Kaldor was to agree with the viewpoint that the manufacturing sector encourages the larger part of the economic growth movement as a result of increasing the returns to scale and installing the so-called dynamic economies of scale. The realization is based on the fact that the production ratio of an investment is proportionate to the percentage of the labor force engaged in the manufacturing sector so that the other will be the features of productive sectors in the total value added by that sector. This is predicated on the observation that productivity growth in manufacturing tends to spill over to other sectors, thereby stimulating ove...

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Akshat Chronicles Inc.

Aviral Akshat: I’m an engineering student at Indian Institute of Technology Delhi with a stronger inclination towards ideas than equations. I am currently interning with CEEW. While I’ve learnt to work with numbers, it’s the realm of policy, economics, and public discourse that truly draws me in. Outside my academic work, I write independently, as a columnist and author, trying to make sense of the world through a broadly liberal and economic perspective. I’m less interested in chasing marks and more in pursuing meaning, and perhaps, a worthwhile disagreement now and then. I don’t just read the news, I try to ask why things are the way they are, and how they might be better. In time, I hope to work within the bureaucracy, not as a cog in the machine, but as someone who helps improve how the machine runs. With a technical grounding and a writer’s voice, I’m not out to make noise, I’m hoping to make sense.

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Liquidity Trap and effectiveness on monetary and fiscal policy in this context.

A liquidity trap is an economic condition where traditional monetary policy loses its effectiveness due to very low or zero nominal interest rates. Despite efforts by central banks to stimulate the economy by reducing interest rates, individuals and businesses prefer holding cash rather than spending or investing it. This situation is often accompanied by a high level of uncertainty about the future, leading to an increase in savings as a precautionary measure. Consequently, the economy remains stagnant, and the usual tools of monetary policy, such as lowering interest rates, fail to generate the desired economic activity. In a liquidity trap, several characteristics become evident. Firstly, interest rates are extremely low, often near zero, as central banks attempt to make borrowing more attractive. Secondly, despite these low rates, savings rates remain high because consumers and businesses lack confidence in the economy's future prospects. They hoard cash, waiting for more favor...

Role of IMF & World Bank in shaping framework of modern economy after World War II .

After the devastation of the Second World War, the global economy required significant restructuring and support to foster recovery and growth. This period saw the inception of two key financial institutions: the International Monetary Fund (IMF) and the World Bank. Both played pivotal roles in shaping the economic framework of the post-war world, addressing immediate financial needs, stabilizing economies, and fostering long-term development. The IMF was established to promote international monetary cooperation, facilitate the expansion and balanced growth of international trade, and provide resources to member countries experiencing balance of payments problems. Its primary focus was on ensuring global monetary stability. In the immediate aftermath of the war, many countries faced severe balance of payments deficits, which impeded economic recovery. The IMF provided short-term financial assistance to these countries, enabling them to stabilize their economies, rebuild reserves, ...

Farm sector employment sees peaks in FY23; becomes 17-year highest in 22 quarters, outperforming the industry trend.

Around two in five Indians are working either in agriculture or the eatables sector, including hunting, forestry and fishing. The number of people employed in these sectors rose to 253 million in FY23, according to RBI KLEMS data. Agriculture was one of the most successful sectors in terms of employment, with a number of 253 million people in the field, making it a 17-year high, based on KLEMS capital, labor, energy, material, and service data, as per RBI. In the fiscal year 2023, agriculture was on the billion revenue line, being the first time since the fiscal year 2007 when it exceeded 250 million people in employment, and 50 million were added in the last 4 years as a matter of fact. In order to lessen the unemployment situation, the agricultural sector added 4.8 million jobs in FY23, which was more than the manufacturing and trade jobs combined at 4.4 million. Not everyone agrees, though. The experts claim that demonetization, legalizing Goods and Services Tax (GST), and the ...

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Empirical study on Human Development Index of Indian States & UTs: Data and Calculation

Navigating India’s Debt Sustainability Amid Growth Headwinds

Kaldor's development Theory