Short Answer Type

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What are the main arguments made for and against liberalization?


Arguments for:

  1. The policy of liberalisation is mainly responsible for the globalization of the Indian economy. This process begain the late 1980s.
  2. Due to liberalisation reduction in tariff and import duties was made. Now foreign goods can be imported easily.

Arguments against:

  1. Small manufacturers cannot face global competition. The foreign goods and brands are in the market, therefore, local goods and brands have gone way behind.
  2. The process of Privatisation has led to loss of employment in some sectors.

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Long Answer Type

Explain globalization and the new international division of labour by giving a suitable example.

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Short Answer Type

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Long Answer Type

Why are land reforms necessary? Discuss their impact on Indian after independence.

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