Abstract

The Indian economy’s stature has changed from developing country to fastest developing country in the last two decades. One foundation and a key impetus for this were received in the form of the financial reforms of early 1990s. The chief strand in these overarching reforms was a reasonably novel direction to the economy known as Liberalization. It introduced privatization & globalization in Indian economy. In the ensuing years various macroeconomic measures came into picture and boosted economic expansion and development. This case covers the role and scope of various Indian macroeconomic variables in these economic expansion and development as well as to undertake a treatment of their mutual and dynamic association in the long run, especially in the Indian context. This study brings to fore certain important findings, and the understanding of behavior of select variables should also stand us in good stead as regards devising new policies for the future especially with the aim of attaining inclusive and sustainable growth

Keywords: Financial reform, Macroeconomic variables, Privatization, Globalization, Liberalization, Economy