Indian Economy Descending Into an Unproductive Gorge

In the Book, the author has analyzed the present days' economic woes of the Indian people in an entirely different way. His approach is to go deep into the problem, encompassing all the aspects of the forces that impact and impinge upon the economic phenomenon and then endeavour to arrive at a practical and sustainable solution to get out of the labyrinth of India's present day socio-economic problems. His concept of productivity in all economic activities is entirely a new approach and thinking in the field of economic theory & practice and deserves a serious consideration. His identification and assessment of productive capacities of all the three sectors of the economy, i.e. Agriculture and Allied activities sector, Industrial sector and Services sector and then finding out the great discrepancies in the distribution of National Income, is a discovery in the field of economic theory and practice. He points out in the Book that distribution of National Income to the above mentioned three sectors of the economy, irrespective of their contributions to economic productivities, is the real cause of our economic woes. In simple words, the people who contribute more to the economy are getting too little income and those who contribute less are getting too much, according to the author. His calculation leads us to believe that Agriculture and Allied sector is getting 45% less income than what they deserve, while the industrial and services sectors are getting 30% and 60% respectively more than what they deserve. Swaminathan Committee report too pointed out towards this unequal exchange and recommended a 50% increase in the payment of MSP (minimum support price) to farmers over and above their cost of production for their produce. This has vindicated the authors findings with the Swaminathan Committee report which simply endorses the correctness of the sectoral productive contribution theory given by the author in this book. In addition to it, he suggests a new method of GDP calculation, wherein a proper consideration has been provided for the productive contribution of each sector of the economy including a provision for 'negative productivity', which occurs in our economy every now and then. Actually, introducing the concept of 'negative productivity' in the economic domain is another innovative contribution by Mr. Srivastava in the field of economic theory and practice which none other economist ever discussed. He further cautions our planners regarding the disproportional increase of services sector in the economy and ignoring the Agriculture and Industrial