Discuss economic reforms in India in the light of social justice and welfare.

Question

Philoid · Accepted Answer

The effect of economic reforms is -

1. During 10th five-year plan India witnessed the growth of GDP from 6.1% to 8%.

2. There was growth in small scale industries.

3. India became pioneer producer in the field of engineering goods, telecommunications, readymade clothes, etc

4. Inflation was under control

5. The agricultural sector was adversely affected by the economic reforms

6. The inequalities among people and states widened

7. Resulted in growth in service sector and the Indian economy went into structural transformation and its economic dependence shifted from primary sector to service sector.