India's growth rate wounded or battling on?
Economic and Political Weekly
The discussions surrounding the Indian economy's performance during the past three-and-a-half year rule of the National Democratic Alliance government have been entirely concerned with the ups and downs of particular year-on-year quarterly growth rates alone, and this amounts to missing the wood for the trees. This article attempts to contrast the notion of a growth rate that is normally employed in the growth theory with y-o-y quarterly rates for the Indian economy. It argues, in particular, that the policy failure (if any) associated with demonetisation can not be judged with reference to growth rates.
Dasgupta, Dipankar, "India's growth rate wounded or battling on?" (2017). Journal Articles. 2304.