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Synopsis Development has always been the main concern of everyone. But the question is how it can be achieved today in the fast moving world economy. At present, the people and the world economy are connecting to each other very fastly to fulfill the goal of development. These developments in the world economy created the catch words, Liberalization, Privatization and Globalization (LPG). This book gives the detail and in-depth knowledge of liberalization, privatization and globalization. This book also explains what have been the reasons, which compelled India to follow the path shown by the IMF and World Bank to make economic reforms in 1991? What are the areas in which the new economic reforms were announced? What steps have been taken to stabilize the economy? What are the major changes, which distinguish the pre and post reforms period? All these developments in the Indian economy have been described, compared and analyzed in this book. This book is very useful for the teachers and students of economics, commerce and management studies. The researcher can also find this book very valuable for the research work on the Indian economy.