Economic Liberalization in India: Economic Contributes and Social Consequences

Abstract

The experience of economic liberalisation began to be felt by every co­mmon person in India during the mid 90s.The effects, however, were not uniform. It had a number of resultant outcomes depending upon the variables in the respective situations. The effects, for example, on rural and urban lives, were different. The receiver-benefits by the 'haves' and 'have-nots' were not the same. The economic liberalisation had two broad economic contributes to the people in India: emergence of monetary economy over and above other forms of economies, and increase in the options and opportunities for livelihood. The social con­sequences of economic liberalisation could be seen in the three main constituents of the social system: the individual, the family and the community. And the consequences are not all very encouraging.The paper argues that identifying change is the first step towards managing change and acknowledging change is a precondition for effective change management. Identifying and acknowledging the social consequences of economic liberalisation is most likely to help in the continuation of interventions that are needed for the constructive strengthening of the social order of society