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External Liberalization, Economic Performance and Social Policy$
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Lance Taylor

Print publication date: 2001

Print ISBN-13: 9780195145465

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780195145465.001.0001

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India: Globalization and Its Social Discontents

India: Globalization and Its Social Discontents

(p.179) 6 India: Globalization and Its Social Discontents
External Liberalization, Economic Performance and Social Policy

Amitava Krishna Dutt

J. Mohan Rao

Oxford University Press

This chapter examines the historical record with a view of assessing the diverse views about India's economic reforms, which have aimed to liberalize and globalize its economy. First, the content of reforms undertaken are briefly examined and then an account is given of how the effects of globalization are to be explored in the following sections. The third section looks at some macroeconomic dimensions of performance, including the realized effects of openness on external transactions, on economic growth, and on trends in the rural sector, which remains the mainstay of employment. The fourth section summarizes trends in employment and unemployment, and the changing commodity composition of employment and its distribution across the formal/informal divide. The fifth section delves into some controversies surrounding the assessment of changes in income distribution and poverty under the impact of reforms, and the sixth turns to the government policy toward social safety nets.

Keywords:   economic growth, economic reform, globalization, government policy, income distribution, informal sector, liberalization, poverty, rural sector, social policy, structural reform, unemployment

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