UNIT 1: Economic Growth Since Independence (17 hours)

Introduc on (Start Your Answer Like This):

"India’s economic journey since 1947 can be divided into three major phases: the
planning phase (1951–1980), the liberaliza on phase (1980–1991), and the post-
reform phase (1991–present). Each phase had dis nct policies, achievements, and
challenges."

Phase 1: 1951–1980 (Planning & Slow Growth)

Key Focus:

 Centralized planning through Five-Year Plans

 Public sector-led growth

 Import subs tu on industrializa on (ISI)

 Focus on self-reliance, food security

Example Answer Point:

"The Second Five-Year Plan (Nehru-Mahalanobis Model) emphasized heavy industries

and capital goods, assuming that industrial growth would eventually trickle down to
all sectors. However, this strategy neglected agriculture and led to bo lenecks."

Cri cism:

 Low produc vity

 "Hindu rate of growth" (3.5–4%)

 Bureaucra c red-tapism

Phase 2: 1980–1991 (Pre-reform Accelera on)

Key Developments:

 Par al liberaliza on

 More focus on private sector and exports

 Growth rate increased to around 5.5%

Link with Current Concepts:

"This phase acted as a bridge between rigid planning and liberal reforms, showing
that deregula on could boost produc vity and investment."

Phase 3: Post-1991 Reforms (Liberaliza on Era)

LPG Reforms:

 Liberaliza on: Removal of licensing, reduced control on industries

 Priva za on: Disinvestment in PSUs

 Globaliza on: Integra on with world trade (WTO membership, 1995)

Key Achievements:

 India became one of the fastest-growing economies (6–8% GDP growth)

 Rise in IT & services exports

 Forex reserves grew

 Poverty declined (but unevenly)

Quote to Use:

“1991 was a watershed moment—India moved from a closed economy to an open,

market-driven one.”

Answer Wri ng Tips:

1. Use data: Men on GDP growth rates in each phase.

2. Quote reports: E.g., Economic Survey, Rakesh Mohan (2019), Vijay Joshi
(2016).

3. Divide answer in 3 phases with bullet points or subheadings.

Next, let’s move to:

UNIT 2: Sectoral Performance – Agriculture, Industry & Services (18

Hours)
Agriculture

Achievements:

 Green Revolu on (1960s): Boosted wheat & rice output

 India became food surplus

Current Issues:

 Stagnant produc vity

 Small & fragmented landholdings

 Farmer suicides, MSP debate, climate risks

Schemes to Men on:

 PM-KISAN, PMFBY, e-NAM, Soil Health Cards

How to Conclude:

"Despite feeding the na on, agriculture's contribu on to GDP has fallen below 20%,
highligh ng the need for income diversifica on and reforms."

Industry

Pre-1991:

 License Raj, Industrial Policy 1956

 Public sector monopoly

Post-1991:

 Industrial Policy 1991: Deregula on, foreign investment

Challenges Today:

 Slow manufacturing growth

 MSMEs lack credit, technology

 ‘Make in India’ progress mixed

Keywords:

 Formal vs informal sector

  Industrial corridors

Services

Why Important:

 Highest GDP contributor (~55%)

 IT, telecom, banking, e-commerce

Problems:

 “Jobless growth”

 Urban-rural digital divide

Quote:

"India leapfrogged from agriculture to services, bypassing manufacturing."

Answer Wri ng Strategy:

 Use sector-wise headings (Agri – Ind – Serv)

 Men on share in GDP and employment

 Include diagrams like pie charts, bar graphs if allowed

UNIT 3: Inclusive Growth – Trends, Distribu onal Issues and

Policies, Demography, Poverty and Unemployment (9 hours)

1. What is Inclusive Growth?

Defini on:
Inclusive growth refers to economic growth that is broad-based, reduces
inequali es, and benefits all sec ons of society — especially the poor and
marginalized.

Key Phrase: “Growth with equity, not just growth for numbers.”
2. Trends and Pa erns in Inclusive Growth

 Post-1991, growth accelerated, but inequali es rose.

 Urban areas grew faster than rural.

 Southern states performed be er (Kerala, TN), BIMARU states lagged.

 Gender and caste gaps s ll exist.

Data to Remember:

 Gini coefficient rising (inequality)

 Mul dimensional Poverty Index (MPI): India improved but s ll has regional
poverty pockets.

3. Distribu onal Issues and Policies

Issues:

 Income and wealth concentrated in top 10%

 Rural-urban divide

 Informal sector workers not protected

Policies Promo ng Inclusion:

 Mahatma Gandhi NREGA – rural employment guarantee

 Food Security Act – subsidized food grains

 PM-JDY (Jan Dhan Yojana) – financial inclusion

 Aadhaar + DBT – leak-proof transfers

4. Demography – Boon or Bane?

 India has a demographic dividend: Over 60% popula on below 35 years

 Challenge: Turning this into produc ve employment

Problems:

 Skill gaps (low employability)

  Youth unemployment rising

Schemes to Quote:

 Skill India Mission, PMKVY, Digital India

5. Poverty and Unemployment

Poverty:

 Reduced from ~45% (1993) to ~11% (2022 est.)

 Yet, urban poor & informal poor remain vulnerable

Unemployment:

 Open unemployment, underemployment, and disguised unemployment

 Educated youth facing high unemployment

Data:

 PLFS 2023: Unemployment rate ~6.1%, higher among graduates

Answer Wri ng Structure:

Intro: Define Inclusive Growth

Body:

 Trends with data

 Problems (inequality, jobless growth)

 Govt schemes
Conclusion:

“India’s growth story must focus on capability-building and equal opportunity to

ensure it is truly inclusive.”

UNIT 4: Economic Policies and Their Impact (12 hours)

1. Economic Policies – Overview

Post-1991 Reforms:

 LPG: Liberaliza on, Priva za on, Globaliza on

 Greater private sector role

 Reduced fiscal deficits

 Tax reforms (GST)

2. Fiscal Policy Impact

Posi ve:

 Higher capital expenditure on infrastructure

 Direct Benefit Transfers (DBT) streamlined

Nega ve:

 High subsidies (food, fuel, fer lizer)

 Fiscal deficit s ll high

Example: Budget 2024 increased capex to ₹11 lakh crore — boost for growth &
employment.

3. Monetary Policy Impact

 Infla on targe ng by RBI (CPI target 4% ± 2%)

 Repo rate cuts post-COVID helped liquidity

Issue:

“Monetary policy alone cannot solve structural problems like unemployment.”

4. Trade and Industrial Policy

 India signed FTAs (with UAE, Australia)

 PLI Schemes: Promote local manufacturing

 Make in India, Startup India

Challenges:
  S ll import-dependent for electronics, energy

 Export compe veness low

5. Labour and Social Policies

 Code on Wages, Gig Worker protec on reforms started

 E-Shram portal: Na onal database for informal workers

 Health insurance: Ayushman Bharat (PMJAY)

Conclusion of Answer:

“Policies in India must now aim not just for growth, but for sustainable, inclusive and
green growth, where people, planet and produc vity go together.”

Q1. Analyze the Factors Behind Growth Accelera on in India

Introduc on:
India’s growth trajectory witnessed a sharp accelera on post-1991 with the shi from
a state-controlled economy to a liberalized one. Between 1991 and 2010, GDP
growth averaged 6–7% compared to the Hindu rate of growth (~3.5%) in earlier
decades.

1. Economic Reforms (1991 onwards)

 Liberaliza on: Removal of industrial licensing, FDI inflows

 Priva za on: Reduced role of PSUs

 Globaliza on: Openness to trade, IT sector boom

(Example: FDI increased from $74 million in 1991 to $81.72 billion in 2021)

2. Sectoral Shi s
  Service sector expansion: IT, telecom, finance

 Contribu on of industry: Auto, pharma, steel exports

 Agriculture: Slow but steady rise with MSP and technology use

3. Demographic Dividend

 Large working-age popula on

 Urban migra on and human capital rise

(But skill mismatch remains a challenge)

4. Technological & Ins tu onal Support

 Digital infrastructure (Aadhaar, UPI)

 Startup ecosystem

 Role of ins tu ons: SEBI, RBI, NITI Aayog

5. Role of Government Policies

 Fiscal consolida on + targeted welfare (DBT, MGNREGA)

 Infrastructure push (Bharatmala, PM Ga Shak )

Conclusion:

Growth accelera on was led by reforms, service-sector dynamism, and popula on

advantage. The challenge now is ensuring this growth is inclusive, job-rich, and
environmentally sustainable.

Q2. Did India Experience Deindustrializa on? Explain Answer Describing the
Dynamic Changes

Introduc on:
Deindustrializa on refers to a decline in the share of manufacturing in GDP and
employment, even before achieving high levels of income — termed “premature
deindustrializa on.”

India’s Experience:

1. Stagna on of Manufacturing Sector

 Manufacturing-to-GDP ra o stuck around 15–17% for decades

 Services leapfrogged directly from agriculture, skipping manufacturing

dominance

2. Jobless Growth in Industry

 Industry didn’t generate sufficient employment

 High capital intensity in modern sectors (e.g. automa on in auto, steel)

3. Rise of Informal & Unorganized Sector

 Majority of industrial jobs in MSMEs or informal sectors

 Lack of scale and technology = low produc vity

4. Global Trade Shi s

 India missed out on global supply chains (unlike Vietnam or Bangladesh in

tex les)

 High logis cs cost, rigid labour laws

5. Government Interven ons to Revive Manufacturing

 Make in India, PLI Schemes, Skill India

 PM Ga Shak for logis cs

 But outcomes s ll evolving

Conclusion:
India’s case reflects premature deindustrializa on — growth shi ed to services early.
To sustain long-term growth and job crea on, a strong, tech-integrated
manufacturing push is necessary.

Q3. Cri cally Examine Labour Laws Pertaining to Organised Labour

Introduc on:
Labour laws are crucial in balancing worker rights with industrial produc vity. India
historically had complex and rigid labour laws, especially affec ng the organised
sector (around 7–8% of the workforce).

Key Labour Laws (Pre-2020):

 Industrial Disputes Act, 1947

 Factories Act, 1948

 Trade Unions Act, 1926

 Contract Labour Act, 1970

Issues:

 Over-regula on: discouraged formal employment

 Rigid hiring/firing laws

 Inspector Raj created corrup on

Reforms – Labour Codes (2020):

 4 Codes: Wages, Social Security, Industrial Rela ons, Occupa onal Safety

 Aim: Simplify 29 laws into 4 codes

Posi ve Aspects:

 Single defini on of ‘wages’

 Easier compliance for firms

 Portability of benefits
  Gig worker recogni on under Social Security Code

Cri cism:

 Fears of dilu on of worker protec on

 Strikes made harder – 60-day no ce rule

 May favour employers in dispute resolu on

Conclusion:

Labour law reform is essen al for formaliza on and industrial growth. However, for it
to succeed, balanced implementa on, strong enforcement, and worker awareness
are key.

Q4. Write a Short Note on Two Demographic Dividends

Introduc on:
Demographic dividend is the economic growth poten al arising from shi s in a
popula on’s age structure — especially a larger share of working-age popula on.

1. India’s Youth Dividend

 Over 65% of the popula on is below 35

 Poten al to boost produc vity, innova on, and consump on

 Schemes: Skill India, Startup India, Digital India

But: Skill gap and jobless growth can turn it into a demographic burden

2. Regional Dividends

 Southern states (Kerala, Tamil Nadu) earlier demographic transi on

 Opportunity: Invest in northern & eastern states now reaching their peak
youth popula on

 Need: Educa on, nutri on, skilling

Conclusion:

If India can capitalize on its youthful popula on with jobs and skills, it can enjoy
decades of sustained growth — otherwise, the dividend may turn into demographic
distress.

Q1. Examine the Role of Public Investment in Infrastructure in Promo ng Economic

Growth in India.

Model Answer (18 Marks)

Introduc on:
Infrastructure — including transport, power, telecom, and social infrastructure — is
the backbone of economic development. In India, public investment has historically
played a leading role in laying down this base, especially where private investment is
insufficient due to long gesta on periods and high risk.

1. Theore cal Link: Infrastructure & Growth

 Supply-side s mulus: Lowers transac on costs, improves connec vity

 Crowding-in private investment: Be er logis cs a ract industries

 Mul plier effect: One rupee invested leads to ~2.5 mes GDP increase (RBI
es mate)

2. Recent Trends in Public Infrastructure Investment

 Na onal Infrastructure Pipeline (NIP): Rs 111 lakh crore plan (2020–25)

 PM Ga Shak Yojana: Integrated planning via digital pla orms

 Capital expenditure in Union Budget 2024–25: Rs 11.11 lakh crore (up 11.1%
YoY)

3. Sectoral Insights
Sector Key Ini a ves Impact

Transport Bharatmala, Sagarmala Faster trade, rural access

Energy Green hydrogen mission, solar parks Energy security, job crea on

Digital BharatNet, 5G rollout Digital inclusion, fintech boom

4. Challenges in Public Investment

 Delays & cost overruns: CAG report 2023 flagged ~40% infra projects over-
budget

 Land acquisi on, environmental clearance issues

 Dependence on debt: Risk of fiscal strain

5. Sugges ons

 Focus on PPP models to share risk

 Use of Infrastructure Investment Trusts (InvITs)

 Enhance ins tu onal capacity (e.g., via PM Ga Shak for coordina on)

Conclusion:

Public infrastructure investment is vital for India’s goal of becoming a $5 trillion

economy. It not only s mulates demand in the short run but also improves long-term
supply capacity and global compe veness.

Q2. Cri cally Examine the Pa ern and Challenges of Inclusive Growth in India.

Model Answer (18 Marks)

Introduc on:
Inclusive growth refers to broad-based, equitable, and sustainable economic growth
that ensures par cipa on of all sec ons of society, especially the poor and
marginalized. In India, despite high GDP growth post-1991, inclusiveness has
remained a major challenge.

1. Trends of Inclusive Growth in India

Indicator 1990s–2023 Data Remarks

GDP
~6.5% average post-1991 But not job-rich
Growth

Poverty Declined from 45% (1993) to ~15% But urban–rural & regional
Rate (2020, Tendulkar method) disparity remains

Top 10% own ~77% of wealth

Inequality Gini coefficient rising (from 0.34 to 0.47)
(Oxfam 2023)

HDI Rank 132 (UNDP 2023) Lag in educa on and health

2. Features of India’s Inclusive Growth Approach

 MGNREGA – 100 days rural employment, women’s par cipa on 55%

 Jan Dhan – Aadhaar – Mobile (JAM Trinity) – financial inclusion

 Direct Benefit Transfer (DBT) – LPG subsidy, PM-Kisan

 PMAY, Ayushman Bharat – housing & health coverage

 NEP 2020 – quality and equity in educa on

3. Challenges to Inclusive Growth

 Jobless growth: Employment elas city of GDP is < 0.2

 Gender inequality: Female Labour Force Par cipa on ~25%

 Digital divide: Rural internet access ~37% (as of 2022)

 Regional imbalance: BIMARU states lag in HDI

 Educa on & health quality: ASER reports show 60% class 5 students can't
read class 2 text
4. Sugges ons to Strengthen Inclusive Growth

 Promote labour-intensive sectors (tex les, tourism)

 Expand universal basic services (health, educa on, sanita on)

 Strengthen rural–urban linkages

 Use social audits for be er accountability

 Reduce regressive subsidies, spend more on infrastructure

Conclusion:

For India to grow into a developed economy, inclusiveness is not op onal — it’s
essen al. A people-centered growth strategy focusing on employment, human
capital, and regional equity can make India’s growth truly inclusive.

Diagram (Op onal for Exam):

"Inclusive Growth Triangle"

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Economic Growth

/ \

Social Equity Sustainability

\ /

Empowerment & Par cipa on

Q3. Has India experienced deindustrializa on in the post-reform period? Analyze

with examples and data.
Model Answer (18 Marks)

Introduc on:
Deindustrializa on refers to the decline of the industrial sector’s share in
employment or output, especially when it happens prematurely — before reaching
full industrial maturity. India’s post-1991 growth has been service-led, raising
concerns of premature deindustrializa on.

1. Trends in India’s Industrial Sector (Post-1991)

Indicator 1991 2023 Observa on

Slight fall despite

Industry % in GDP ~27% ~25.6%
reforms

Manufacturing % in
~16.4% ~14.2% Declining
GDP

Employment in
12% (2000) 11.6% (2022, PLFS) Stagnant
Industry

~50% share in High, faster than

Service sector growth
GDP industry

2. Why Deindustrializa on?

 Jobless industrial growth: Capital-intensive technologies adopted post-reform

 Rise of Services: IT, Finance, Telecom grew faster (e.g., TCS, Infosys boom)

 Global compe on: Cheaper imports (e.g., Chinese electronics, toys)

 Weak MSME sector: ~6.3 crore MSMEs but low produc vity and limited credit

 Policy gaps: Limited skill development, complex labour laws, poor logis cs

3. Evidence of Premature Deindustrializa on

 Manufacturing stagna on at 14–16% of GDP over 3 decades

 India bypassed classical path: Agriculture → Industry → Services

  Informalisa on: 90%+ workers in unorganized sector

 Decline in tex le, leather industries (labour-intensive)

4. Counterpoints (Not Complete Deindustrializa on)

 PLI (Produc on Linked Incen ve) Scheme: Boost to electronics, pharma, solar

 Make in India: Aimed to raise manufacturing share to 25% (s ll not achieved)

 FDI in Industry: Over $100 billion cumula ve in manufacturing (DPIIT)

 States like Gujarat, Tamil Nadu, Maharashtra show strong industrial clusters

5. Way Forward

 Strengthen infrastructure + logis cs (Ga Shak )

 Simplify labour laws under labour codes

 Promote labour-intensive sectors (apparel, food processing)

 Skill India for be er industrial workforce

 Deepen industrial finance (SIDBI, credit guarantee for MSMEs)

Conclusion:

India faces premature deindustrializa on, risking long-term employment and

produc vity. A calibrated industrial policy, focusing on manufacturing and
employment genera on, is essen al to reverse this trend.

Diagram: "Kuznets-style Structural Transi on (India vs. Classical Path")

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Classical Path: India’s Path:

Agri → Industry → Services Agri → Services → Weak Industry

Q4. Cri cally Examine Labour Laws Pertaining to Organized Labour in India.

Model Answer:

Introduc on:
Labour laws in India aim to protect workers’ rights, ensure decent working
condi ons, and promote industrial peace. However, India's complex and outdated
framework o en hampers both employers and employees — especially in the
organized sector.

1. Overview of India’s Labour Law Regime (Pre-2020)

 Over 44 central laws and 100+ state laws

 Rigid laws like the Industrial Disputes Act (1947) made hiring/firing tough

 Applicability only to large firms (≥100 workers) – small firms excluded

 Example: Contract Labour Act, Factories Act, ESI Act, etc.

2. Problems in the Organized Sector

 Low formaliza on: Only 10–15% workers in formal sector

 High compliance burden: Paperwork, inspec ons

 Discourages scale: Firms prefer staying small to avoid laws

 Low job crea on: Indian industry is not labour-absorbing

3. Labour Law Reforms (Post-2020): 4 Labour Codes

Code Key Focus

Wage Code Uniform wage defini on, minimum wages for all

Industrial Rela ons Easier retrenchment (≥300 workers), fixed-term

Code employment

Social Security Code Expands ESI, EPF, gig worker coverage

Code Key Focus

OSH & WC Code Health, safety standards, women in night shi s

4. Cri cism of New Codes

 Dilu on of protec on: Hire-and-fire concerns

 Poor implementa on: Not yet fully opera onal across all states

 Gig economy loopholes: Lack of clarity for Swiggy, Zomato workers

 Trade unions: Claim reduced collec ve bargaining power

5. Sugges ons

 Speed up state-level implementa on

 Strengthen inspec on and grievance redressal

 Expand coverage of social security to informal sector

 Promote tripar te dialogue: Gov–employer–worker

Conclusion:

Labour laws must balance worker welfare and business flexibility. The 2020 reforms
are a step forward but need inclusive and effec ve implementa on to transform
India’s labour market.

Q5. Write a short note on Two Demographic Dividends in India.

Model Answer:

Introduc on:
A demographic dividend is the economic growth poten al that arises from shi s in a
country’s popula on structure, especially when the working-age popula on (15–64
years) becomes larger than the dependent popula on. India, with 65% popula on
under 35, has a unique opportunity to harness this dividend.
1. India’s Demographic Transi on:

 Median age: 28.4 years (India) vs. 38.4 (China), 48.6 (Japan)

 Working-age popula on: ~900 million (2023)

 Dependency Ra o: Declining ll 2040s — favorable for growth

 NITI Aayog: India can enjoy a demographic dividend ll 2055

2. Two Major Demographic Dividends:

**A. Labour Force Dividend

 Young, large workforce boosts produc on and consump on

 Poten al for 'Make in India', Digital India, and manufacturing growth

 Example: IT-BPM sector employs ~5 million workers

 States like Tamil Nadu, Kerala nearing ageing; but UP, Bihar, MP have growing
youth — demographic window varies by state

**B. Innova on & Entrepreneurship Dividend

 Youth more adap ve to tech, digitaliza on, startups

 India is 3rd largest startup ecosystem (a er US, China)

 Startups like Zerodha, BYJU's, Ola driven by young entrepreneurs

 NEP 2020 promotes cri cal thinking, innova on among students

3. Challenges in Reaping the Dividend

Area Concern

Learning poverty – over 50% of Class 5 kids can't read Class 2 text
Educa on
(ASER)
Area Concern

Employment High youth unemployment (~17% in 2023)

Skills
Only 4.7% of workforce is formally skilled
mismatch

Health Malnutri on, mental health issues in youth

4. Government Measures

 Skill India Mission – aims to skill 40 crore youth by 2025

 Start-up India – funding, tax breaks for youth-led startups

 Na onal Educa on Policy (NEP) 2020 – new curriculum focus

 PMKVY, Digital India, MUDRA loans – employment enablers

Conclusion:

India’s demographic dividend offers a one- me opportunity. But if we fail to provide

educa on, skill training, and employment, this dividend could turn into a
demographic burden. Timely, inclusive ac on is crucial.

Visual Aid Idea: (Draw in exam)

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Pie chart showing:

- 65% Working-age popula on

- 27% Dependent popula on (children + elderly)

- Arrow poin ng toward: Economic Growth, Innova on, Employment

Q6. Evaluate the Impact of the 1991 Liberaliza on, Priva za on, and Globaliza on
(LPG) Reforms on the Indian Economy.

Model Answer:

Introduc on:

India faced a major balance of payments crisis in 1991. Foreign reserves were just
enough to cover 15 days of imports. In response, India launched LPG reforms under
PM P.V. Narasimha Rao and FM Dr. Manmohan Singh.

Goal: Shi from a state-controlled economy to a market-oriented, globally

integrated one.

1. Liberaliza on – Opening Up the Economy

Key Reforms:

 Industrial licensing abolished (License Raj ended for most industries)

 MRTP Act (Monopolies control) scrapped

 FDI allowed in many sectors (e.g. telecom, banking, insurance)

 Interest rates deregulated; Exchange rate shi ed to market-based

Impact:

Indicator Pre-1991 Post-1991

GDP Growth ~3.5% ("Hindu rate") 6–8% avg post-2000

Forex Reserves $1 bn (1991) $642 bn (2023)

FDI Inflow Negligible $70 bn+ annually

Infla on 13%+ in 1991 4-6% average today

2. Priva za on – Exit of Government from Non-Core Areas

Reforms:

 Disinvestment of PSUs (e.g. Maru , BALCO, Air India)

  Greater private par cipa on in telecom, avia on, steel

 Crea on of Disinvestment Commission (1996)

 Strategic sales of loss-making units

Impact:

 More efficient produc on

 Revenue for govt. – Rs. 80,000+ crore through disinvestment (FY22)

 Growth of private sector employment and entrepreneurship

 Cri cism: Crony capitalism, loss of social welfare responsibili es

3. Globaliza on – Integra on with World Economy

Reforms:

 Reduc on in tariffs and import du es

 Allowing MNCs to enter Indian market

 Membership in WTO (1995)

 Global outsourcing boom in IT, pharma, tex les

Impact:

 Export-led growth: So ware, services

 Emergence of India as IT Hub – Infosys, Wipro, TCS

 Indian brands gone global – Tata Motors, Mahindra

 Cultural shi s: Exposure to global trends, lifestyle

4. Sectoral Impact Summary

Sector Impact

Agriculture Mixed; exposed to global price shocks, but agri-exports increased

Industry Became more efficient, compe ve (esp. auto, steel)

Sector Impact

Services Massive boom – now 53% of GDP

5. Cri cisms and Limita ons

 Jobless growth – growth not accompanied by matching employment

 Rising inequality – urban-rural, skilled-unskilled gap widened

 Neglect of agriculture – no parallel Green Revolu on

 Environmental degrada on – industrial pollu on, urban sprawl

6. Diagrams to Use in Exam (Sketch & Label Neatly)

1. Line graph: GDP growth from 1980–2020

2. Bar chart: FDI inflow before and a er 1991

3. Pie chart: Share of sectors in GDP pre vs post reforms

Conclusion:

LPG reforms transformed India from a closed economy to a global player, boos ng
growth, FDI, and industrial moderniza on. But challenges like inequality, rural
distress, and jobless growth highlight the need for inclusive second-genera on
reforms.

Extra Tip: If asked to write only on Liberaliza on or Priva za on or Globaliza on,

focus only on that part and expand with examples.