Full Length Research Paper

Indian Economy in the 75th Year of its Independence

J. Cyril Kanmony

Article Number - 63C0C29C68133  | Vol. 4(1), pp. 1-8, January 2023  | 
 Received: 2 August 2022 |  Accepted: 30 September 2022  |   Published: 15 January 2023

Copyright © 2024 Author(s) retain the copyright of this article.
This article is published under the terms of the Creative Commons Attribution License 4.0.


2022 is India’s 75th year of independence. From the date of independence, authorities are taking steps to move the economy upward in all aspects. On the basis of policies adopted, the entire period of 75 years can easily be divided into three: the planning era or pre-globalisation period (1947 to 1991), the post-globalisation or post-reform period (1991 to 2014) and the National Democratic Alliance regime (2014 to till date). During all these years some changes have taken place and the economy is moving upward though there are some retrogressive outcomes. At this juncture the author ventures into highlighting the changes that emerged in the important constituents of Indian economy. Though during the planning era, on an average the rate of growth of the Indian economy was only limited. India experienced a faster economic growth after that. But there is growth of GDP without proportionate growth in employment generation. Agriculture remains trapped in backwardness, the chronic distress existing in Indian farming has forced nearly five lakh farmers to commit suicide. Food production increased considerably. But due to maldistribution of food grains there is also severe poverty though the rate of poverty is declining continuously. Malnutrition is highly prevalent in India. Earlier India imported many drugs from foreign countries. But at present it is a pioneer and world leader in vaccine production. There is a widespread growth of educational institutions and so the literacy rate increased very much. India has the third largest road network in the world. Today the country has so many vehicles of sophisticated and luxurious nature that had not been available during the pre-reform period. India has the fourth largest national railway in the world. During the reform period there are favourable changes in both trade and payments. There is enough foreign exchange reserve. Foreign direct investment increased very much while the net negative investment is also very high.


Keywords: Independence, Planning era, Post-globalization, Malnutrition, Farmers’ suicides & Demonetization.




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J. Cyril Kanmony

Professor Emeritus, PG & Research Centre, Department of Economics, Scott Christian College (Autonomous), Nagercoil – 629003, Kanniyakumari District, Tamil Nadu. Email: [email protected]



How to Cite this Article

Kanmony, J. C. (2023). Indian Economy in the 75th Year of its Independence. Journal of Economics, Business Management and Administration, 4(2), 1-8.



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Abbreviation: J. Econ. Bus. Manage. Admin.
ISSN: 2971-7736 (Online)
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