Volume-7, Number - 1  
Month: January - June, 2011
A Study of Indian Economy in the Background of Globalization

Gyanendra B S Johri
School of Management Sciences, Varanasi

M Yogesh
Research Scholar, U.P. College, Varanasi

Page No. 41

Purpose/Aim: The economy of independent India whoch is of contemporary interest had to be built upon the overhang issues of Second World War, the trauma of partition, the integration of princely states numering over 500 and a low level of GDP.

Methodology/Approach :With an annual average growth rate of 3.5 per cent during 1950 to 1980, the growth rate of the Indian economy acclerated to around 6.0 per cent in the 1980s and 1990s.

Findings/Conclusion: In the last four years (2003-04 to 2006-07), the Indian economy grew by 8.6 per cent. In 2005-06 and 2006-07, it had grown at a higher rate of 9.0 and 9.4 per cent, respectively.

Keywords: An important characteristic of the high growth phase over a quarter of century is resilience to shocks and considerable amount of stability.