Year: 2026
Type: article
Abstract: This paper provides a comprehensive retrospective analysis of the changes in the Indian economy from the late twentieth century to the present day. This study seeks to provide light on India's complex economic landscape by conducting a thorough evaluation of significant economic reforms, sectoral dynamics, social development indicators, and policy implications. The analysis begins with an examination of the Nehruvian model legacy and the economic issues that India faced prior to change, such as the dominance of state-led planning, import substitution industrialization (ISI), and agricultural stagnation. The story then shifts to the momentous economic liberalization measures of 1991, which signaled a turn toward market-oriented policies, privatization, and globalization. Sectoral evaluations look at the performance and difficulties of agriculture, industry, services, infrastructure, and social sectors, highlighting important accomplishments, continuing inequities, and new prospects. The research also looks at the impact of India's demographic dividend, urbanization trends, and technological improvements on future economic growth.
Author: Sajjan Kumar Lal
Institution: Thakur College of Engineering and Technology
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W7208822576
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