Poverty and unemployment are the two most formidable problems of the Indian economy. Indian economy took a new direction when the Government announced its new industrial policy in the Parliament in July 1991. Since then, the economic reforms process has encompassed all areas of the economy. The wide-ranging reforms, initiated and implemented since 1991, have induced greater efficiency and competitiveness in all spheres of economic activity. How these reforms have impacted on the growth pattern in terms of employment generation and reduction in poverty is a matter of intense debate among economists and social scientists. The present work is a small contribution to the existing and growing body of literature on various aspects of economic reforms in India.