Indian Economy: Reality and Expectation

Indian Economy: Reality and expectation Indias development has, for the first time been an issue in elections, or so it seems. The economy has seen the worst of times over the past 200 years. Poverty-alleviation has been sluggish. The world has been increasingly critical of Indias economic policies. Liberalisation brought a wave of development that seems to fade away at this point in time. The growth rate for the economy has been abysmal. Key sectors like agriculture in many parts still suffer from inefficiency and lack of technology. The paper aims to elucidate upon, in a simple tone as to what the economic structure and what is expected out of it. The paper is heavily inspired from Japanese, Italian and primarily Korean economic miracle and Bimal Jalan, ex-RBI Governors book, The Indian Economy: The Problem and Prospects