Introduction India’s economic journey over the past three decades has been marked by periods of robust growth, liberalization-led industrial expansion, and rapid technological progress. Since the economic reforms of 1991, India has consistently achieved high GDP growth rates, at times exceeding 7–8% per annum. This rapid economic expansion has positioned India as one of the…
Introduction Economic reforms in India represent one of the most significant turning points in the nation’s history since independence. Initiated in 1991 under the leadership of then Prime Minister P. V. Narasimha Rao and Finance Minister Dr. Manmohan Singh, these reforms marked the transition from a protectionist, state-dominated economy toward a liberalized, market-oriented system. The…
Introduction India embarked on a new economic trajectory in 1991 with the adoption of liberalization, privatization, and globalization (LPG) reforms. These reforms marked a structural shift from a predominantly state-controlled economy to a more market-oriented system. The intent was to boost growth, attract foreign investment, improve efficiency, and integrate India with the global economy. Over…