ECONOMIC LIBERALIZATION AND GLOBALIZATION. — Social Science STD 10 — Question
Gujarat BoardEnglish MediumSTD 10Social ScienceECONOMIC LIBERALIZATION AND GLOBALIZATION.3 Marks
Question
State the effects of Globalization on Indian economy.
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Answer
Effects of Globalization on Indian economy: It has been more than one and a half decade since the implementation of Globalization policy in $1991.$ The following are its effects: • Advantages:
$>$ A high raise in exports, a high raise in growth- rate.
$4$ A high raise in Foreign Direct Investment $(FDI)$ etc.
$>$ Thus, there is an increase in the rate of economic development leading to an increase in income and high standard of living. • Disadvantages:
$>$ A high raise in imports.
$>$ Raise in foreign debts.
$>$ Raise in poverty and a raise în inequality.
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