1 Department of Mathematics Dr.M.G.R Educational and Research Institute, Chennai, India Dr.M.G.R PLANETM Online Journal of Mathematical Sciences Vol. 3, Iss. I www.mgrplanetmjournal.wordpress.com A Study on Indian Economy using Fuzzy Cognitive Maps T. Johnson Professor, Department of Mathematics Dr.M.G.R Educational and Research Institute, University Maduravoyal, Chennai – 600 095, India. E-mails: gotojohnthomas@gmail.com, Johnson.math@drmgrdu.ac.in Abstract In this paper, we try to analyze the current Economic condition of India using Fuzzy Cognitive Maps (FCMs). The study is based on the Economic survey report prepared by the Ministry of Finance, Government of India. From the report, we extract the core factors which affects the Indian Economy aŶd aŶalLJze theŵ usiŶg FCMs. Those factors play a vital role in the Indian Economy are identified through the study and the steps that the Government has to take, to improve the Indian Economy are discussed. Keywords: Fuzzy set; Fuzzy cognitive maps; Factors affecting Indian Economy; Remedial measures; Economic survey. Introduction: In this paper, we are going to analyze the present economic condition of India and find solutions to improve it. The study is based on the Economic survey 2013-14 report prepared by the Ministry of Finance, Government of India and it was presented to both houses of parliament during the budget session 2014-15. The entire report is available in the official website http://indiabudget.nic.in/survey.asp and it is open to all. So, the information we are going to use from the Economic survey report is an official and updated one. Also on the website, it is quoted as follows: This document would be useful for policymakers, economists, policy analysts, business practitioners, government agencies, students, researchers, the media, and all those interested in the development in the Indian economy. Problem: Several factors were discussed in the report, which affects the economy of India but for our study, we are taking only the core factors which play a significant role in the Economy. We list them as follows: The factors are: 1) Agriculture 2) Education