The paper begins by discussing need for developing a regional accounting framework and estimating relevant variables to formulate realistic growth targets and appropriate development strategy in the reform era for the Gujarat State as a case. Elementary regional accounting framework and estimates of crucial macroeconomic aggregates at the state level in India are attempted for the first time for Gujarat to derive implications on resource availability and investment requirement to achieve alternative growth targets. The study finds that Gujarat is a high saving society comparable to China and Korea, but invests much less domestically. Although it is a net importer internationally, it is a major net exporter within the country.
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