Economic Growth of India in Post Independence Era Dr. Mittal Parul Assistant Professor, Department of Commerce, KLP College, Rewari, India Online published on 15 September, 2015. Abstract This paper empirically examined the economic growth of India in post independence era i.e. 1951–2013. The major indicators to measure the economic growth of any country are GDP (Gross Domestic Product), PCI (Per Capita Income), NI (National Income), GDS (Gross Domestic Savings), GDCF (Gross Domestic capital Formation) etc. GDP helps us to understand the structure and level of an economy. Capital formation leads to more production, employment, per capita income and economic growth of the country. With the help of data on net domestic product, we can know the growth rate of economy, importance of different sectors, savings and investment aspect of an economy. In India, NI is increased up to Rs. 10056523 crores in the year of 2013–14 while it was only Rs. 340 in 1867–68, Rs. 1067 in 1913–14, Rs. 2364 in 1921–22 and Rs. 6234 in 1945–46 in pre-independence period under the British rule. After independence, Indian economy is growing faster but in comparison to other countries like USA, Japan, UK, China and Sri Lanka; India is still a developing economy. Indian economy has US $1550 per capita income on exchange rate basis according to world development report, 2014. Top Keywords Economic Growth, GDP, NI, PCI, GDS, GDCF. Top |