ipl-logo

Liberalization Privatization And Globalization In India

1490 Words6 Pages

The adoption of liberalization, privatization and globalization policies, in other words the New Economic Policy in 1991 marked a historic event in the history of India. It transformed not only the economic framework of the country but has had a huge impact on the social fabric as well. As a result, the whole social dynamics of the country gained a new outlook. It is widely believed that India started its journey of the economic growth only after adopting the free market policies but what is generally ignored are the implications of this growth on the marginalized sections of the society. Even though India boasts of having the sixth highest number of billionaires in the world but simultaneously maximum numbers of poor also belong to our nation. The gulf between rich and poor is ever widening. All these are due to the fact that the State has changed its stand from pro-people to pro-capitalists and socialism is now considered a thing of the past. The socialist agenda of the constitution is slowly but surely being destroyed by the State and the judiciary instead of resisting this act, is rather providing a helping hand. Defining Globalization The word ‘globalization’ signifies different meaning to different persons. There has been much disagreement among different authors regarding its definition and components. Such has been the extent of this disagreement that to some it represents the triumph of a capitalist world economy tied together by a global division of labor while

Show More
Related

  • How Did British Colonialism Affect India

    1122 Words  | 5 Pages

    One of the critical impacts that affected India was there economics. One

    Read More

  • Pros And Cons Of Privatization

    175 Words  | 1 Pages

    Discuss the privatization of correctional services. What are some of the arguments for and against privatization? PRO: One of the benefits to privatized correctional services is the reduction of operating cost. In which the privatize company would be more efficient and less expensive.

    Read More

  • Negative Effects Of Privatization In America

    1097 Words  | 5 Pages

    The issue of Privatization in America has gone back to the 1800s. Yet, throughout the centuries the effects of this have been debated; whether Privatization good or it’s bad. Though, like any issue Privatization’s effects are not black and white. In order to understand Privatization effects, one must look at Privatization’s history, positives, and negatives. Since its origins in America in the 1800s, Privatization has changed.

    Read More

  • Annotated Bibliography

    1152 Words  | 5 Pages

    Statement of Intent: Urvashi Butalia’s article ‘India’s elites have a ferocious sense of entitlement’ published in the ‘New Internationalist magazine’, January 2013 issue, is a critique of the domineering influence by a few rich people over the poor people. But the deep divide of classes is not a good sign for growth and progress in India. This act requires teamwork. My coursework is a letter to the concerns raised by Urvashi Butalia, with an insistence that the duty for change lies as much with the rich classes as with the economically emerging classes of people. “Who in India would have the temerity to study the rich?”

    Read More

  • Pros And Cons Of Globalization In Colombia

    954 Words  | 4 Pages

    Globalization is the inclusion of the differents values socio-cultural and economic local from one country to another, through their relationships exchanged a series of products and knowledge that extend and increase their ideological and economic situation. Globalization is beneficial for businesses of Colombians. As well as has influenced in areas as the social, economic, cultural, political, technological and educational in our country, globalization has ventured into the business of Colombians to favor or disfavor wholesale sales. Globalization has been a transition process started from the time of conquest and colonization, this exchange of cultural contracted a new market with mobility and trade of products and goods which over time did not stop there, but rather it was intensified and point greater flowed recognition from the

    Read More

  • Self-Interest In Adam Smith: The Father Of Economics

    750 Words  | 3 Pages

    When India adopted the new economic order in the early 1990s, it empowered the invisible hands of the market and ensured economic freedom for enterprises. It is also true that markets are capable of generating their own rules which may ultimately lead to market failures. Moreover, freedom of choice and human rationality doesn’t always result in behaviour consistent with what was advocated by the free market theorists. One of such behaviours is that the economic enterprises themselves can impede upon the freedom of others. Such anti-competitive practices have a negative impact on GDP and a severe impact on consumer welfare.

    Read More

  • Airbnb Case Study Globalization

    1557 Words  | 7 Pages

    3. Globalization Throughout the last decades, globalization became a real phenomenon, but history tells us that it is actually not a new social, historical phenomena, but has, under different names and manifestations, been with us for a long time. It is actually not only the continuation of the liberalization of international trade, which began in the mid-19th century with the launch of cross-border trade over long distances and later with intensive large-scale mobility of labor and capital. During capitalism, globalization has amplified due to the lust for profit, which is driven by capitalists across the globe. Indeed, globalization has significantly strengthened ever since.

    Read More

  • Similarities Between The United States And Western Europe

    730 Words  | 3 Pages

    Globalization is both the good and the bad, and it can nor will be sold separately. Globalization is an inevitable process that has been advertising and sold globally as the good, even though the good and the bad are the same. The good part of globalization is that it brings both corners of the world together to share a common interest and create a social connection. By which the bad part transforms the difference into similarities, however, an outside actor has made sure that their difference is the overarching similarity. Through Neoliberalism, the United States and Western Europe have taken over contemporary globalism to spread their ideals of free trade, democracy, and, culture.

    Read More

  • Explain What Is Meant By The Term Privatization Used Throughout This Chapter

    373 Words  | 2 Pages

    1. Explain what is meant by the term "privatization" used throughout this chapter. The term privatization mean the transfer of ownership, property or business taken from government from private sector. The government have the power to shut down the down which can be taken over by public- traded such on the service side as prisons, housing, school, and defense and on the property side highways, parking meters and land. The government to make profit they have have to sell the the public- trade and property side its very a dangerous privatization to continue to take ownership and advantages the outcome from this is putting the working class and middle class people in jeopardy. 2.

    Read More

  • Social Inequality In The White Tiger

    2011 Words  | 9 Pages

    The novel is somewhat of a memoir of his journey to finding his freedom in India’s modern day capitalist society. The book shows how it can create economic division. In India there are not social classes, there are social

    Read More

  • The Impact Of Globalization In Germany

    1127 Words  | 5 Pages

    Globalization is defined as the transfer or easy flow of goods, services and capital from one country to another. Globalization according to some authors has been accompanied by an increasing rate in inequality in terms of income distribution, and this has happened both in the developed and the developing nations. The data on growth and income inequality seem to contradict the optimism of the proponents of globalization. By conceiving of globalization

    Read More

  • Kosovo And Globalization Essay

    750 Words  | 3 Pages

    The term “Globalization” has been in existence for the past 50 years. It is one of the major causes of the increase in international trade. The Oxford Dictionary defined Globalization as “the process by which businesses or other organizations develop international influence or operate on an international scale”. It is a phenomenon that has been in the front burner for several years. Certain individuals opine that it serves as an advantage for the developing countries to compete in the global market while others were of the opinion that it favors the developed countries by making them richer (Giddens, A. 1999).

    Read More

  • Pros And Cons Of Globalization In The Textile Industry

    954 Words  | 4 Pages

    The exceptionally notoriety of the word 'globalization’ signals a require for caution. The word was barely utilized some time recently the late 1980s, indeed in scholarly circles, but nowadays you can barely open a daily paper without experiencing the term. It might effortlessly show up to is an elegant name utilized to assign wonders around which one has as it were the vaguest thoughts. However to dispose of the concept of globalization, and the huge consideration agreed the marvels it envelops, on such grounds, would be silly. There is a genuine require for a common, non-specific term to portray the complex, multi sided ways in which the world is inter-connected, and progressively so.

    Read More

  • Privatization In China

    972 Words  | 4 Pages

    In the last quarter century, China has been experiencing three dimensional transformation of the economy: from a planned economy to a market economy, from an agrarian economy to an industrial economy, from a relative closed economy to a relative open economy. By the time Deng took power, he made the historic decision “reform and opening-up” at the Third Plenum of the CCP Eleventh Party Congress on December 18-22, 1978. 1978–1984 the first parts of Chinese economic reforms in the late 1970s and early 1980s involved the bottom-up approach of reforms focusing on agricultural Reform, decentralization of the government, entry of township and village enterprises, state-Owned Enterprise reform, . Deng decollectivized agriculture and emphasized

    Read More

  • Advantages And Disadvantages Of Globalization In Developing Countries

    1006 Words  | 5 Pages

    Globalization is a process of linking the world through many aspects, from the economic to the culture, the political. in different nations. This process uses to describe the changes in society and in the world economy, by creating a linkage and increasing exchange between individuals, organizations or nations in cultural perspective, economics on global scale (Globalization 101, n.d.). A process of creating many opportunities but also causes many challenges for all the nations in the world, particularly for developing countries. There are so many advantages that globalization brings to developing countries like free trade, technology transfer and reducing unemployment.

    Read More

More about Liberalization Privatization And Globalization In India

Open Document