GENERAL REVIEW STUDY OF SMALL & MEDIUM ENTERPRISE (SME) CLUSTERS IN INDIA 1. Macro-Economic Posture of Indian Economy
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چکیده
The economic performance of India has often been equated with the slow growth rate of around 3.5 % never quite entering into the ‘take off’ stage of the Rostow's model. Some economists believed, as though the nation was destined for it. At the time of India's independence in the year 1947, the nation had a plethora of serious problems to face, viz. shortage of food-grains, poor infrastructure, lack of financial resources, high rate of illiteracy and poor industrial base. To build the nation's economy, following the socialist path of development an overwhelming importance was attached to the public sector units, which the first Prime Minister of India called them "Modern Temples of India".
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