This article will delve into the positive economic aspects brought about by the liberalization of the Indian economy, while also analyzing to some extent why institutional rigidity has marked India as largely unsuccessful in improving the public good distribution in the same period.
In this article, the author evaluates the economic reforms of 1991 and talks about how they were lopsided as well, focussing on unemployment and exploitation of labour and environment.
The author discusses the talk around the failure of the agricultural sector to keep up with the 1991 reforms that opened the gates of India to the outside world. From price volatility through shrinking farm sizes to trade liberalization, the article expounds upon various obstacles faced by this sector under the newly globalized India.
