Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

Pyare Lal Arya

Abstract

The purpose of this note is to examine the contention that the concepts of production and other aggregates used in the revised U.N, System of National Accounts (S.N.A.) are not very suitable for developing countries. Rather, the concepts prevailing in the literature on economic theory provide the second best alternative in the absence of the most appropriate ones.

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Pyare Lal Arya

Abstract

In his note on "Musgrave's Diagrammatic Explanation of Tax Liabilities Under Various Sacrifice Formulas", published in Artha Vijnana, Vol. XV, No.4, Dec. 1973, Shri G. Thimmaiah showed an inconsistency in the relationship between utility and income implied in the diagram used by Musgrave and suggested modifications to remove the inconsistency.

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Pyare Lal Arya

Abstract

Two issues are considered in this paper. The first deals with the possibility of reshaping the flow-of-funds accounts on the basis of the structure of the Indian economy. Integration of the modified flow-of-funds accounts with national accounts of India forms the second issue at stake.

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