Question

Explain the role of globalisation and impact of it in india?

Answer 1

Answer:

Globalization is an important element of economic reform, introduced in India in 1991. This implies that it should raise the rate of Economic growth in country and reduce poverty and that it should not increase inequalities in the Economy, Also, There should be social integration of the economy with rest of the world.

It will increase output, employment opportunities and economic development of the country. Living standard of people in India has been developed due to increase in the wages of skilled and unskilled labor. The poverty ratio of urban and rural areas has been decreased to a greater level.

Answer 2

Answer:

It will increase output, employment opportunities and economic development of the country. Living standard of people in India has been developed due to increase in the wages of skilled and unskilled labor. The poverty ratio of urban and rural areas has been decreased to a greater level