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in Economic and Political Weekly
- School of Policy & Governance
A recent writ petition on renaming India as Bharat, which got dismissed by the Supreme Court, is discussed. There are political motives behind naming or renaming a place, but Hindustan, Bharat, and Hind — are all part of the package that is India.
Does there exist a trade-off between labour’s income share and output growth rate? Or does a reduction in wage share in itself reduce the output growth rate? These questions have returned to the centre stage in the midst of India’s present crisis as the government sought the dilution and suspension of labour laws as a counter-cyclical policy instrument. In the absence of any other stimulus or countervailing factors, the impact of such a policy would hinge on the relationship between income distribution and effective demand. This paper attempts to lay bare this relationship for the Indian economy through an empirical analysis of India’s macro data and a theoretical model on the basis of regression results.