Two Decades after Economic Liberalization: Examining India’s Road to Progress  

Oleh:

Chatterjee, Anik K

Jenis: Article from Proceeding
Dalam koleksi: The International Symposium on Social Sciences (TISSS) and Hong Kong International Conference on Education, Psychology and Society (HKICEPS) at Hongkong, December 2013, page 376.
Topik: India; Economic Growth; Social Sector; Rural-Urban Dichotomy
Fulltext: Hong Kong-Conference 57.pdf (284.72KB)

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India’s economic reforms, which have lasted for more than two decades now, turned it into a major force of the world economy and enabled the country to improve its geo-economic position. On the one hand, the country – largely due to economic reform – is witnessing a rapid growth in its industrial-technical sectors; and of the middle class (which now numbers about 300 million). Experts believe that this social group in major countries (China, India, Brazil and Indonesia) is capable of “reinvigorating” economic growth in the world economy through constantly and rapidly growing consumer demand. India’s economic growth after reforms has also remained satisfactory. However, on the other hand, India’s development remains polarized, reproducing social and wealth disparities on an increased scale. More than twenty per cent of the world’s poor live in India, seventy five percent of them in rural areas, and their social activism is growing. Reforms have not done wonders in the social sector as conditions of literacy, health-care, nutrition, employment, sanitation, and housing continue to remain dismal. The rural-urban dichotomy also remains the key obstacle to India’s progress into the 21st century. However, reforms are an unfinished journey, and with proper planning and action, India may reap the benefits of liberalization in future.

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