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This book studies pitfalls in value added accounting of sectoral growth in real terms in the context of liberalisation of the Indian economy. Growth of sectoral gross value added can systematically deviate from that of final expenditure (and gross output), even maintaining the broad national accounting identity between the aggregates. For an investigation along these lines, input-output transactions tables provide invaluable information. The book discusses at length tricky questions of data handling and issues in interpretation of data. As the growth rate of the economy accelerated,...

"The poem is rising into splendid popularity. Some say it is better than Milton-but that is all bosh-nothing can be better than Milton; many say it licks Kalidasa; I have no objection to that. I don't think it impossible to equal Virgil, Kalidasa, and Tasso." Michael Madhusudan Datta wrote this in a letter to a friend about his verse narrative, The Slaying of Meghanada (1861). The epic, a Bengali version of the Ramayana story in which Ravana, not Rama, is the hero, has become a classic of Indian literature. Datta lived in Bengal at the height of what is frequently called the...