Role of globalization

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Transcript of Role of globalization

Page 1: Role of globalization
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WHAT IS GLOBALIZATION

Globalization can be defined as a set of economic, social, technological, political and cultural structures and processes arising from the changing character of the production, consumption and trade of goods and assets that comprise the base of the international political economy. Due to the effect of globalization, the information now flows more swiftly from its origin to destination. Globalization has also played a major role in generating employment opportunities in India.

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MEASURES OF GLOBALIZATION

• Devaluation: devaluating the Indian currency by a hoping 18-19% against all the major global currencies.

• Disinvestment: The core elements of globalization are privatization and liberalization.

• Allowing Foreign Direct Investment (FDI): • The foreign investment regime has been quite

transparent and thus the economy is getting boosted up. Various sectors were opened up for liberalizing the FDI regime.

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EFFECTS ON INDIAN ECONOMY

• GDP per capital is less than $2000.• Upper classes are the profitable segment.• Lower classes are still suffering from

miserable labor conditions.

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IMPACT ON VARIOUS SECTORS

Villagers still live in kuchcha houses.

Poorly designed houses in the name of Indira Awaas Yojna-initiative by the government.

Farming communities are still untouched.

Non availability of electricity.Roads constructed, toilets are not

of standard quality.

RURAL INFRASTRUCTURE

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• POSITIVE SIDESSchool buildings are available.More number of girls are

attending the school.Students of graduates and post

graduates are increasing.• NEGATIVE SIDES

Inadequacy of faculty.Benches, boards and other

facilities are of sub standard quality.

Lack of awareness for technical education.

EDUCATION

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Ignorant about internet.The absence of

electricity have resulted the failure of technology to percolate in villages.

Upper class people have DTH and dish tv facilities.

TECHNOLOGY

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This sector is untouched and unaffected from western influence.

Migration is taking place and poor people are moving to urban areas in search of employment.

CULTURAL & SOCIAL VALUES

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The sector does not have any positive impact.Government is always willing to import food grains, sugar etc whenever there is a price increase of these commodities. Government never thinks to pay more to farmers so that they produce more food grains but resorts to imports.

AGRICULTURE

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GLOBALIZATION AND POVERTY

Five important areas have to be followed to achieve the goal. The areas are-

technological entrepreneurship new business openings for small medium enterprises importance of quality management new prospects in rural areas and

privatization of financial institutions.

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GLOBALIZATION AND MARKET CHANGES

In the 1990s when the government initiated the open market and economic liberalization plan. This led to huge improvement in the market scenario of the country which significantly changed from the state controlled market to the consumer market.

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WHAT IS LPG

Liberalization basically meant Unleashing the productive potential of people in terms of reducing the kind of constraints imposed over a period of time upon the entrepreneurs.

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RECENT DEVELOPMENTS

Change in the Indian mindset such as self reliance and socialistic policies of economic development.

India is in the process of restructuring her economy, with aspirations of elevating herself from her present desolate position in the world.

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