Why liberalisation, privatisation and globalisation diluted the socialist credentials of india?
Answers
The term socialist was incorporated in our constitution (preamble) by 42ed constitutional amendment act, 1976 and made it explicit. Though it was not mentioned (explicitly) anywhere in our original constitution, it is no doubt our forefather wanted our democracy to be socialist democracy, which is abundantly clear from the directive principles of state policy. Even the congress in its Avadi session, 1955 passed a resolution to establish a socialistic pattern of society. Though Preamble is not enforceable itself but it is a part of constitution and guiding force to our democracy. (When there is an ambiguity in interpretation of the constitution, we can turn to the principles of preamble to make it clear)
The Balance of Payment crisis of 1991 which forced the Indian economy to open up and undergo Liberalisation, privatisation and globalisation. It seems the socialism principle has been diluted, however to say the concept of socialism has been made redundant will be unjust.
The non-enforceable directive principles which are moral obligation on the state in guiding its policies, which lean heavily towards socialism. The government has enacted various schemes under this for e.g. MGNREGA, Labour protection laws, legal service authority act, public distribution system, Subsidies on various items for farm use (HY seeds, Fertilisers etc.) and other laws for the protection of socially weaker sections of the society.