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India was a typically backward economy at the time of Independence in 1947. It exhibited the following features: (a) traditional and stagnant agriculture, (b) poor technological and scientific capabilities, (c) limited and lop-sided industrialization, (d) underdeveloped means of transport and communications, (e) grossly inadequate health and educational facilities, and (f) virtually non-existent social security arrangements. In short, the country suffered from the twin problems of rampant poverty and widespread unemployment, both making for low general standard of living. After over 70 years of development efforts, India is being hailed as a bright star in the otherwise gloomy world economy. The World Bank in its report titled Global Economic Prospects, released on June 4, 2019, has projected Indian economy to grow at 7.5 percent per annum in the next three years (2019-20 through 2021-22). With these projections, India will continue to retain the position of being the fastest growing major economy in the world. India stands out as a haven of stability and an outpost of opportunity. These achievements are creditable because they have been accomplished in the face of global headwinds. India has started witnessing many of the advantages of a fast growing economy. More consumption, greater production, more industries, expanding service sector, greater urbanisation, many more jobs, more economic activity and certainly more revenues for the Central and State Governments.  

Contents: 1. Post-Independence Review of the Indian Economy. 2. Agriculture and Allied Activities. 3. Industry, Infrastructure and Logistics. 4. Government Budgeting, Taxation and Fiscal Federalism. 5. Money, Monetary Policy and Prices. 6. Financial Institutions, Financial Markets and Financial Instruments. 7. Foreign Trade, Balance of Payments and Foreign Investment. 8. Current Status and Future Prospects of the Indian Economy. Bibliography. Index.