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Liberalisation, Privatisation And Globalisation — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsLiberalisation, Privatisation And Globalisation3 Marks
Question
Explain any four negative impacts of liberalisation and globalization.
✓

Answer

The four negative impacts of liberalisation and globalisation are:
  1. There has been a decline in agricultural growth rate. The removal of fertiliser subsidy has adversely affected the small and marginal farmers.
  2. Industrial sector has also witnessed lopsided growth, as the cheaper imports have led to a decrease in the demand for domestically produced industrial products.
  3. Globalisation which brought about free movement of goods and services from R.O.W. has had an adverse effect on the products of domestic industries and thereby the employment opportunities.
  4. Liberalisation and globalisation have led to the spread of consumerism.
  5. Economic reforms have also led to the erosion of cultural roots and values.

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