Answer:
?The policy of liberalization has brought about changes in our society.? This statement is very true though the changes are beneficial in some case and disadvantageous in some other cases.
Liberalization refers to a number of policies such as privatization of public sector enterprise; loosening of government regulations, reduction in tariffs and import dudes. The result of liberalization is evident in form of more foreign firms entering in Indian markets. This is followed by economic growth and prosperity. More employment opportunities are generated. The foreign goods are easily available in country at low costs. Though some sectors like software and information technology and agriculture (Like fruit and fish) are benefitted by liberalization, yet there are some sectors which fail to compete with the global market, such as (automobiles, electronics or oilseeds). This was also followed by loss of employment in many sectors.
Indian agriculture was protected from the global market by support prices and subsidies. Support prices help to ensure a minimum income generation for farmers because they as it is the price at which the government agrees to buy agricultural commodities. Subsidies lower the expenses of farming as the government pays part of the expenses incurred (like those on fertilisers or diesel oil). Liberalization is against this kind of government interference in markets, so support prices and subsidies are missing. So, the farmers are not able to earn decent livelihood.
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