Abstract
Economic growth of the country is part of economic development, as development is the phenomenon which follows growth and involves not only an increase in the total output but also a change in the structural and institutional factors that operate in economy and a welfare quotient. India has been observing an economic phenomenon called the stagflation, which has slowed economic growth in country and thus economic development
The objective of this paper is on growth witnessed in India and reasons why growth rate after displaying great momentum has reduced in past two years which has also reduced the level of development. Paper has also explored various measures of the economic development in an economy. The paper tries to estimate the reasons for stagflation in the economy and probable solutions to it.
KEYWORDS: economic development, economic growth, stagflation,