Submitted by: Submitted by cameliabag
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Words: 34034
Pages: 137
Category: Societal Issues
Date Submitted: 10/28/2012 06:24 AM
aPUBLIC SPENDING AND HUMAN DEVELOPMENT INDICATORS:
REVISITING INDIA’S FISCAL POLICY
PROJECT SUBMITTED TOWARDS THE PARTIAL FULFILMENT OF
THE REQUIREMENT OF PAPER XII OF SEMESTER VI, 2012
BY
THE STUDENTS OF ECONOMICS HONOURS
ST. XAVIER’S COLLEGE (AUTONOMOUS), KOLKATA.
GROUP MEMBERS:
LAVANYA SUSAN TOPPO (209), SWATI SINGRODIA (213),
JASMINE MEHTA (221), SUJOY DUTTA (224), VEDIKA AGRAWAL (234)
CAMELIA BAG (235), PIU GHOSH (239), PRITHWIS LAW (242),
MANITAM BISWAS (246), SREEPARNA DEY (272).
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ACKNOWLEDGEMENT
We are grateful to Rev. Dr. J. Felix Raj, S.J., Principal, St. Xavier’s College (Autonomous),
Kolkata for all the encouragement and infrastructural support. We express our sincere gratitude
to Prof. B. Da’Silva, Vice Principal, Arts and Science Department and Fr. Dominic Savio S.J.,
Vice Principal, Department of Commerce (Morning) and Business Administration. We would
also like to thank Professor Abhirup Sarkar, for his insightful contributions to our project and
guiding us through the basic theory of our statistical analysis. We express our heartfelt thanks to
teacher Prof. P. P. Ghosh for guiding our project. We are also grateful to the other faculty
members of the Department of Economics.
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ABSTRACT
The nature and composition of government spending has been a divisive issue ever since J.M.
Keynes first highlighted the size of the role a government needs to play in an economy. There has
been extensive argumentation for both major stances –the first being that the government should
invest primarily in directly productive activities and in essence operate as a purely economic agent;
and the other being that as an agent for collective action by society, the government needs to
specifically invest in social sectors to compensate for the shortfall in private participation.
Our project presents a theoretical and normative case for government spending in those sectors
directly associated with the Human Development Index –...