A study of economic reforms for sustainable development in India

Economic policies stimulated economic activity resulting in, among other things, a significant increase in economic growth, declining inflation, declining deficits and an increase in Tax revenuewhen economic gains have come at the cost of environmental degradation, social hardship and the breakdown of social norms and values. Such results indicate that the country is not, yet on a sustainable development path. While good policies exist and are being improved, there has been a failure of improved, there has been a failure of policy implementation over the years. With good policies, appropriate integrative strategies, commitment and political will, the country may attain a development path.

The process of economic reforms was started by the government of India in 1991 for taking the country out of economic difficulty and speeding up the development of the country. The center of economic reforms has been liberalization, privatization and globalization. Today sustainable development is the need of time to secure our future generations. Sustainable development consists of a long-term integrated approach to developing and achieving a healthy community by jointly addressing economic, environmental and social issues. Whilst avoiding the over consumption of key natural resources. Sustainable development encourage us to conserve and enhance our resource base by gradually changing the ways in which we develop and use technologies. Countries must be allowed to meet their basic needs of employment, food, energy, water and sanitation. If this is to be done in a sustainable manner, then there is a definite need for a sustainable level of population. Economic growth should be supported and developing nations should be allowed a growth of equal equality to the developed nations. The main objective of sustainable development include social progress and equality, environmental protection, conservation of natural resources and stable economic growth. Everybody has the right to a healthy, clean and safe environment. This can be achieved by reducing pollution, poverty, poor housing and unemployment. Everybody has the right to good standards of living with better job opportunities for this economic prosperity is required.