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1) Evaluate whether globalisation has helped India in dealing with one of the most significant socio economic challenge which is poverty?(250 words)

Topic – Part of static series under the heading – “Effect of globalisation on Indian society”

1) Evaluate whether globalisation has helped India in dealing with one of the most significant socio economic challenge which is poverty?(250 words)

 

Key demand of the question

The question expects us to examine how far globalisation and the resultant impact on economy and society has helped us in dealing with the problem of poverty, whether globalisation has helped in mitigating the issue or accentuating it.

Directive word

Evaluate – When you are asked to evaluate, you have to pass a sound judgement about the truth of the given statement in the question or the topic based on evidences.  You have to appraise the worth of the statement in question. There is scope for forming a personal opinion here.

Structure of the answer

Introduction – Discuss the most significant impact of globalisation has been seen in the sphere of Liberalization of economy which has had several impacts including on poverty

Body

  • Mention that India was main mover of globalization. The government of India made major modifications in its economic policy in 1991 by which it allowed direct foreign investments in the country. As a result of this, globalization of the Indian Industry occurred at large scale.
  • Discuss how globalisation resulted in reduction of poverty – Creation of jobs through growth in services sector, due to the liberalization policies, India has become a consumer oriented market where the changes are brought by the demand and supply forces. Due to the high demand and the supply chains, there has been significant growth in the market. As such, more and more job opportunities are being created in different sectors. This has increased the per capita income considerably which has improved the poverty level to a great extent, technological changes taking place due to globalisation, gender equality in access to working opportunities which has positively impacted females etc
  • Discuss issues which have led to worsening of poverty – issues such as MSP under dispute at WTO, the problem of jobless growth, greater incorporation of technology which was ill suited for Indian labour market etc

Conclusion – give your view on whether globalisation has really helped in reducing poverty and how should the impact of globalisation be improved.

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