Question

Impact of globalization has not been uniform justify. For 5 marks

Answer 1

Since its introduction, globalization of the Indian economy has come a long way. Now there is greater choice before the consumers, who now enjoy improved quality and lower prices for several products. People are enjoying much higher standards of living than they enjoyed earlier. In this way, globalization has benefited well off consumers and also producers with skill, education and wealth.

But the other side of the picture is not very bright. Flexibility in labour laws has worsened the conditions of workers because they are appointed on non-regular basis to avoid facility of provident fund and other facilities. Workers work extra hours of work and they receive no payment for this. Small producers have also suffered from globalization because they are unable to compete with MNCs.

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