Production Function Studies of Indian Industries-A Survey

Considerable work has been done on the theoretical and empirical problems of estimating the production functions of the Indian Industries. The studies were mainly aimed at analysing the contributory factors of output growth, returns to scale, partial and total productivity indices, technical progress, elasticity of factor substitution, etc. The period covered in these studies using the CMI (Census of Indian Manufactures) and ASI (Annual Survey of Industries) data estimating Cobb Douglas (CD), Constant Elasticity of Substitution (CES) and Variable Elasticity of Substitution (VES) production functions was from 1946 to 1975.