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| Paper Title: | An Analytical Study of National Output, Employment, and Foreign Trade of India: Evidence from the Past Three Decades of Neoliberal Reforms |
| Authors Name: | MRUTYUNJAYA SAHOO , PRAVEEN SAHU |
| Unique Id: | IJSDR2210153 |
| Published In: | Volume 7 Issue 10, October-2022 |
| Abstract: | The COVID-19 epidemic caused the Indian economy to face a "once in a century" catastrophe, having an effect on economic activity and, in turn, the livelihoods of billions of people affected. The study aims to briefly discuss the sectors’ specific growth in national account, industry and its components’ proportionate share of GVA, gross capital formation, merchandise and services trade, labour force, employment, and unemployment. The annual growth rates of macroeconomic determinants have faced the challenges pertaining to the V-shaped recovery of the Indian economy from the pre-COVID to post-COVID pandemic crisis period. This study also shows India’s merchandise trade was deficit and services trade were surplus during the past three decades of neoliberal reforms from 1990-91 to 2020-21. In the last three decades, India has lost foreign exchange reserves through merchandise trade while gaining foreign exchange reserves through services trade. Due to the massive amount of primary goods imported, such as petroleum, oil, and lubricants (POL), ores, and minerals, as well as large amounts of imported manufactured goods, India suffered from both a primary sector trade deficit and a secondary sector trade deficit. |
| Keywords: | GVA, GCF, Employment, Exports, Imports, and Trade openness. |
| Cite Article: | "An Analytical Study of National Output, Employment, and Foreign Trade of India: Evidence from the Past Three Decades of Neoliberal Reforms", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.7, Issue 10, page no.899 - 911, October-2022, Available :http://www.ijsdr.org/papers/IJSDR2210153.pdf |
| Downloads: | 000337071 |
| Publication Details: | Published Paper ID: IJSDR2210153 Registration ID:202168 Published In: Volume 7 Issue 10, October-2022 DOI (Digital Object Identifier): Page No: 899 - 911 Publisher: IJSDR | www.ijsdr.org ISSN Number: 2455-2631 |
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