Question

Describe the impact of globalisation on Indian agriculture?

Answer 1

the impact of globalisation on Indian agriculture has been felt since colonial times. Raw Cotton and spices were important export item for india

Answer 2

The process by which businesses or other organizations develop international influence or start operating on an international scale is known as globalisation.Globalisation in India:

India became independent as one of the poorest countries of the world. The British colonial rule had destroyed the self-sufficient agrarian economy. Prime Minister Jawaharlal Nehru preferred mixed economy for planned economic development of the country. Public sectors were set up along with a number of private enterprises. But like the socialistic model of economy, the mixed economy of India has not produced profitable results.

A number of public sectors became sick and the growth rates of production had begun to fall. The government was compelled to sanction subsidy to make the price of some essential commodities low, despite the rising burden on state exchequer. While the poverty of the people continued to grow to an alarming extent, there was an acute balance of payment crisis. Due to low domestic savings, there was no adequate capital for investment.

There was also shortage of resources to provide educational and health facilities to a large growing population. Moreover, there was high rate of inflation and the balance of payment deficit was around $10 bn. In such a situation P.V. Narsingh Rao government was compelled to introduce the policy of liberalisation and privatisation. Dr. Manmohan Singh, the then finance minister was instrumental in the adoption of new economic policy in 1991.