INDIAN ECONOMIC REFORMS AND ITS GROWTH EXPERIENCE DURING NEW MILLENNIUM

Since independence Indian economic growth rate have major turning points. Before 1980’s with import substitution as a policy, India has less growth rate. The trigger in the growth rate was can be found after 1980s, may be for this fact some experts have the opinion that the reforms were started during this period. In the post-economic reforms economic performance was good. This performance was much better during 2002-2012; it is due to the gradual effect of reforms and in addition to this, the powerful and popular concepts like Public Private Partnership (PPP), faster and more inclusive growth etc during the new millennium plans viz. tenth and eleventh five year plans. In light of these facts the present paper discusses Indian economic growth experience during new millennium i.e. particularly during tenth and eleventh five year plans. In the paper the major 1991 economic reforms also discussed.