Summary Effect of Liberalisation on Rural Economy in India
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Course
Finance
Institution
Indian Institute Of Management
The liberalization of the Indian economy has had a significant impact on the rural economy. One of the key effects has been the increase in agricultural productivity due to the introduction of modern technology, improved infrastructure, and access to global markets. Liberalization has also led to t...
effect of liberalisation on rural economy in india
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Indian Institute Of Management
Finance
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Effect of Liberalisation on Rural Economy in
India
Liberalization refers to the relaxation of government regulations and
restrictions on economic activity, including trade, investment, and finance. The
effects of liberalization on the rural economy in India have been both positive
and negative, depending on various factors such as the sector, the level of
development, and the policies.
One of the main positive effects of liberalization on the rural economy in India
has been the increase in agricultural exports. Liberalization has led to the
removal of trade barriers, which has enabled Indian farmers to access new
markets and earn higher prices for their produce. This has increased the
competitiveness of the agricultural sector, leading to higher productivity, better
quality, and increased incomes for rural farmers.
Moreover, liberalization has also led to the growth of rural industries and
services. Liberalization has enabled private sector players to enter the rural
market, leading to the development of agribusinesses, food processing
industries, and rural tourism. This has created employment opportunities for
rural communities, reducing poverty and increasing rural incomes.
Another positive effect of liberalization on the rural economy in India has been
the improvement of infrastructure and services in rural areas. Liberalization
has led to increased investment in rural electrification, water supply, and
sanitation, leading to the provision of essential services to rural communities.
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