Changes Of Indian Economy And The Social Sectors, Poverty, And Reform

1432 Words Aug 7th, 2014 6 Pages
Sectorial changes in Indian Economy with reference to Liberalization, Privatization & Globalization post 1991 - The social sectors, Poverty and Reform Introduction

In July 1991 the new model of economic reforms in India know as Globalization, Liberalization and Privatization started to create an economy that was the fastest building economy. This reform was successful in terms of building the economy but as India has a diverse society the rapid growth bought inequalities in the society. As a consequence people became opposed to the idea of globalization, liberalization and privatization.

India lags behind in general education standard and achievement and also in health and health improvement . These are the sectors where government has an important role to play. Primary education and health facilities have been neglected in India while focusing on higher education. The main object of reform must be so that the different social and economic classes are benefited from such a reform. The poor and backward classes of our society have not benefited from the reforms. The only possible way of assiting the poor is by increasing the demand for their services. Increase in demand of employment hence provides increase in real wage rates.
Adequately increased demand in employment can result in rise of industrial employment and real wages in the East Asian ‘tigers’ in the 1960’s and 1970’s . Industrial employment will increase demand in unskilled labor and most of the poor in…
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