Well Being and Public Expenditure A Study of Indian Economy

Abstract

Well-being is termed as an Umbrella by certain specialist as it is the positive perception, happiness towards life and society. The modern state is labelled as a welfare state , the activities of government have expanded in both length and breadth. There is certain reasons of massive increase in public expenditure all over the world. GDP is parameter of the development of an economy. In the, objectives of the study framed to examine the inter-relationship among well-being, public expenditure and GDP, to measure the relationship between major selected macro-economic indicators and well-being in Indian economy during the period from 2001 to 2020. Results were extracted with the help of VAR grangers causality, OLS, ARDL model which showed that there is significant relationship between well-being, public expenditure, well-being and macroeconomic indicators. Researcher suggested an action plan to ensure the economic welling of people and speed up economic development of the country by proper management of public expenditure. Government should focus on employment creation, health, and inflation. newline newline newline