• NIVEDITA NAHAK
• K.JOHN

Abstract: Generally Economy consists of the economic systems of a country or other area. The labour, capital, land resources and manufacturing, trade, distribution consumption of goods and services of the area. The social economy is defined by the collection of different social objectives of the various organizations which is based on cooperative, not-for-profit, and voluntary rather than paid activities carried out within communities, across national economies, and internationally. In the year 1950, the Planning Commission was set up to determine priorities and co‐ordinate Indian economic development. The system has been called a “mixed economy” as opposed to either a centrally planned economy or an essentially free market driven system. Over the years, the main two objectives of planned economic development have been to build up within a democratic context. These are (1) a rapidly expanding and technologically progressive economy, and (2) a social order based on justice and offering equal opportunity to every person. Indian economy has three phases, these are pre-colonial, colonial and post-colonial. The pre-colonial stage of India started by the Indus Valley civilisation on 1700 AD. In this stage our India full of resources and a very good trade relation with other parts of the world. In the colonial stage the East India company established in India for improve the trade relation and India caused huge strain to the Indian economy. Gradually the economic growth rate of India drastically declined. The independent India called as a posts-colonial period. In this phase the process of rebuilding started, various policies and schemes were formulated by the Indian Government. The Indian economy bound for slower growth. India has come a long way in modernizing its economy, reducing poverty and improving living standards for a large segment of its population. In this context, we develop an index of infrastructure stocks and estimate growth-accounting equations to investigate the impact of infrastructure development on output. Overall, the results reveal that infrastructure stocks, labour force and total investment play an important role in economic growth in India. India is the world's sixth-largest economy by nominal Gross Domestic Power (GDP) and the third-largest by purchasing power parity (PPP) in 2015 and 2018 India's economy became the world's fastest growing major economy, after surpassing America and China.

KEYWORDS: Developing countries, Economic Development, Social economics, Planning Modernizing India

"Concept Of Social Economy and Its Relevance to India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 10, page no.483-489, October-2018, Available :http://www.jetir.org/papers/JETIR1810971.pdf

"Concept Of Social Economy and Its Relevance to India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 10, page no. pp483-489, October-2018, Available at : http://www.jetir.org/papers/JETIR1810971.pdf