Manoj Kumar
Abstract:
This present study analysis on the nature and speed of structural transformation in different components of Himachal Pradesh economy. Components are the different sub-sectors of GSDP. The study is based on secondary data collected from various reports of economic survey and statistical abstracts of Himachal Pradesh. Data on state gross domestic product and its components at constant prices from 1980-81 to 2015-16 was evaluated. The nature of structural transformation in different component was estimated by following eleven different kinds the relative growth rates and speed of structural transformation and for measuring the speed of structural transformation during different spans of time, the indexes θ (Moore, 1978) and ξ (Sethi, 2003) were used. During the entire study period the Mining and Quarrying; Manufacturing; Electricity, Gas, Water Supply and other utility Services; Transport by Other Means; Communication; Trade Repair, Hotel and Restaurant Services; Financial Services; Real Estate and Ownership of Dwelling and Professional Services; Public Administration and Other Services displayed an increasing trend in relative share, while the relative share of railways and storage sub-sector almost remains the minimum and stagnant. The relative share of Agriculture and Animal Husbandry, Forestry, and Logging, Fishing, and construction sub-sector displayed a declining trend. In the process of structural transformations, the relative share of the primary sector declined in Himachal Pradesh economy. Whereas, those of tertiary and its sub-sectors has increased, particularly during post-liberalization period. The relative share of secondary sector has remained more or less stagnant. Further, speed of structural transformation has faster during post-liberalization than that during pre-liberalization, which indicated that economy of Himachal Pradesh has been developing. \r\n
