After independence, issues relating to the growth and planning of Indian economy have been the subject matter of debate and discussion at home as well as abroad. Planning gave the direction regarding the growth rate of every sector of the economy. It is 70 years now since the initiation of the economic planning process in 1951. The scope of the economic planning undertaken has been wide ranging, covering such sphere as international trade, industrial production, financial markets, and foreign investment. The system of state control on economic activities has gradually been dismantled and replaced by a more market friendly economic system where economic decisions of private agents respond to market signals. The Indian economy has been achieving the high rate of growth after the planning process in India.