Economic Liberalisation and Indian Economy: A Comparative Study

India witnessed a landmark shift in its economy since the adoption of new economic policy in 1991. Its arrival resulted in more of an ideological debate like capitalism and socialism, but undoubtly these reforms were unavoidable and compelling. One of the primary reasons to adopt this policy by India was to acquire a seat at a highest table and to deal with a severe balance of payment crisis. Apart from that, many analysts as well as researchers have revealed diverse opinions in this context. Some authors have welcomed its arrival; on the other hand some have made its criticism. With this standpoint, this study is an attempt to compare the position of Indian economy during Pre and Post liberalisation epoch. This study is exclusively based on secondary data collected from various sources more specifically form available government database. It was ascertained during the study that an increased trend during all the decades excluding the third decade (2000–01 to 2009–10), which clearly indicates that new economic reforms have positively affected the Indian economy.