A MACRO ECONOMETRIC MODEL OF FOOD FOR THE INDIAN ECONOMY
Bhola Khan
Department of Economics
Yobe State University, Damaturu, Nigeria
E-mail: bholakhan.apj@gmail.com
Abstract: This study made an attempt to project demand and supply of food for Indian economy up to the 2030 on the basis of 2011-12 data. For this purposes the study used macro econometric analysis which is motivated from Kline model and developed six equation that is demand for food, output of food, price of food, supply of food, stock of food and excess supply of food. Out of six equations last three which is supply, stock and excess supply of food is identity and rest of the function/structural equation will be estimate. On the basis of data available the study project the demand for food grain in 2030 will be 285.84 million ton, supply of food will be 345 million ton, stock of food grain will be 126.9 million ton, price of food will be 8390.7 rupees per quintal, according to 2004-05 prices per capita income will be 97179 rupees and projected population will be 165 crore. All the projection about variable based on Compound Average Growth Rate (CAGR).