Student Dept. of Government and Public Administration, School of Humanities, Lovely Professional University
Online published on 25 August, 2021.
The impact of Liberalization, Privatization, and globalization on the agriculture sector has a huge impact on agriculture production and markets.The 70% of the Indian population is directly dependent on the agriculture sector. Approximately half of the Indian population involved in the agriculture sector directly or indirectly. Thus agriculture sector is essential for the socio-economic development in the country. In the globalization era, the Indian agriculture sectors have much development including the farmer's standard of living, food security and increasing of the agriculture sector's income. Due to the government policy of liberalization in the economic sector, there are also increasing foreign direct investment, smoothness of the business doing condition and fasten off the national economy and raising in national incomes. This study attempts to understand the concept of liberalization, privatization and globalization and its impact on the Indian economy particularly in the agriculture sector from the year 2014 to 2018. The agriculture sector performance is due to the changing of the economic system and the changing of the socio-economic environment. Yet, the government of India also tries to make sustainable in the agriculture sector thus policy intervention and budget expenditure is also increasing as compare to previous years. Thus, the Agriculture sector is put as prioritizing so that the socio-economic condition will be better.
Liberalization, Privatization, Globalization, Indian Economy and Agriculture
