Year : 2022, Volume : 14, Issue : 1
First page : ( 13) Last page : ( 26)
Print ISSN : 0974-0988. Published online : 2022  21.

A Journey of Socialistic Pattern of Society to Globalisation and then to “Aatam Nirbhar Bharat”

Rustagi Preeti¹, Dr Agarwal D R²

¹Research Scholar, K R Mangalam University, Gurugram

²Professor Emeritus, Starex University, Gurugram

Online Published on 21 February, 2023.

Abstract

After a long struggle of freedom movement ultimately the day came on 15^th of August, 1947 when India got independence with a partition of the country along with a deep-rooted conflict between two communities, division of resources was not honoured by one country. The heavy influx of refugees from their own country resulted in a problem of their rehabilitation and relief. There was a shortage of food and other resources because we inherited a crippled economy with stagnant agriculture peasantry steeped in poverty. A planned programme of development was started in poverty. A planned programme of peasantry steeped in poverty. A planned programme of development was started by launching a series of five-year development was started launching a series of five-year plans under the guidance of the central planning authority (Planning Commission set up in the Year 1950) intending to set up a socialistic pattern of society based on the Nehruvian Model. As the result, the public sector gained commanding heights in the economy without proving its accountability and transparency and this led to an unprecedented foreign exchange crisis. It was a time when we moved from a period of controls and regulations to an era of economic reforms (Liberalisation + Privatisation+ Globalisation) that is the adoption of market economy and privatisation free from controls and regulations. This was observed as a period of Vasudhav Kutumbkam that is the whole world was a global village. In the second term of the Modi Government (2019-24), there has been a shift of emphasis from globalisation to a self–reliant economy that is Aatm Nirbhar Bharat (Vocal for local). Thus, our journey started from establishing a socialistic pattern of society has reached a self-reliant economy – may it be because of Covid -19 pandemic in phases and the basic problems remain to be addressed. This Paper highlights the whole journey of the Indian Economy.

Top

Keywords

Socialistic pattern of social market economy and price mechanism and self–reliant economy.

Top