Economic Growth and Levels of Living in India

The Indian economy in the recent past is growing faster (6-9%) than its past rate of growth (3-4%) and it is even surpassing the rate of growth of many developed and developing countries all over the world. The Indian economy is showing high growth potential and it is one of those countries that could smoothly traversed through the economic recession at the global level in the recent past. But the question arises is whether the high growth is translated into the better of people in the country, whether it has improved the living standards of the people living in this country. In order to spread the gains of growth the 11th Five Year plan set its objective of ‘inclusive growth’. The research concern is achievements in this direction and assessing of how far the high growth trajectory that the Indian economy has experienced in the recent past could improve the living conditions of its population. In this context the present paper examines the trends in economic growth and its impact on the living conditions of population in India particularly related rural and agriculture sector.