AN EMPIRICAL ANALYSIS OF ECONOMIC GROWTH AND INFLATION OF SECONDARY SECTOR OUTPUT OF JAMMU AND KASHMIR ECONOMY
In the present paper we have attempted to study the association between economic growth and inflation rate of secondary sector of Jammu & Kashmir Economy for a reference period of 1980-2011. GDP deflator has been used to calculate the inflation rate in secondary sector as well as for an economy as a whole. The OLS regression model has been used to analyze the association between economic growth and inflation rate of secondary sector of state Economy. The results of the growth regression model proved that there is a weak association between the two variables which gave birth to an important policy option that inflation of the secondary sector output should be checked and only a mild inflation should be allowed in the sector which will prove to be an incentive to the farmers of the state economy.
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