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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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| Paper Title: | Exploring the Peacock-Wiseman Hypothesis in India: “A Temporal Analysis of Expenditure in the Social Sector” |
| Authors Name: | Anjali Mishra |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJRTI_200196
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| Published Paper Id: | IJRTI2501008 |
| Published In: | Volume 10 Issue 1, January-2025 |
| DOI: | |
| Abstract: | The expansion of an economy and the growth of government sector activity have a significant functional association (Bhatia, 2011). According to Crafts, Government institutions and policies play a central role in long-run growth outcomes. It has a positive impact on several growth-inducing factors. Enhancing human capital productivity is one of them. Investment in health, education, and social security creates positive externalities and possibilities for sustainable growth in the country. There is a two-way positive relationship between economic growth and public spending on the social welfare of people in a country. According to Economist Amartya Sen public spending on Health and Education is essential for achieving social equity and inclusive development. Investment in human capital is one of the major steps that has to be taken to achieve self-sustenance growth in India. Health is assumed to be an important component and determinant of the overall well-being of an individual. However, India has remarkably improved in human development parameters but is still far behind in achieving Sustainable Development Goals related to human resources. Marginally improved health indicators in the country urgently need massive intervention by individuals and on the part of the government. The objective of this study is to examine the association between economic growth and the rise in social sector expenditure in India. It aims to study the impact of investing in health on the improvement of selected health indicators. This paper attempts to study the dynamics of public spending in India, particularly about societal well-being. The paper analyses the linkages between the economic growth of a country and social sector expenditure and finds out the implication of the Peacock-wiseman hypothesis for the same & finds out that the growth of social sector expenditure in India is not smooth; instead, it increases in jerky steps, as suggested by Wiseman-Peacock. |
| Keywords: | Wagner Hypothesis, Social Sector Expenditure, Human Development, Externalities |
| Cite Article: | "Exploring the Peacock-Wiseman Hypothesis in India: “A Temporal Analysis of Expenditure in the Social Sector”", International Journal of Science & Engineering Development Research (www.ijrti.org), ISSN:2455-2631, Vol.10, Issue 1, page no.a33-a40, January-2025, Available :http://www.ijrti.org/papers/IJRTI2501008.pdf |
| Downloads: | 000599 |
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2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID: IJRTI2501008
Registration ID:200196
Published In: Volume 10 Issue 1, January-2025
DOI (Digital Object Identifier):
Page No: a33-a40 Country: Fatehpur, Uttar Pradesh, India Research Area: Social Science and Humanities Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2501008 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2501008 |
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ISSN: 2456-3315
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