Economic liberalization in India was shaped largely by the economic problems of the government than by the economic priorities of the people or by the long-term development objectives. Thus, there were limitations in conception and design which have been subsequently validated by experience. Jobless growth, persistent poverty and rising inequality have mounted as problems since economic liberalization began. And all these years later, four quite crises confront the economy; agriculture, infrastructure, industrialization and education as constraints on the country’s future prospects. These problems must be resolved in economic growth has to be sustained and transformed into meaningful development.