Economic Empowerment And Status Of Women

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Six years of Liberalizations in the country need an overall review of multidimensional aspects of Commerce & Management Science. Such a review shall lead academicians to start thinking the required future directions of Commerce & Management education in the country. A document of the World Bank "India: Country Economic Memorandum - Five years of Stabilization and Reform: The challenges ahead" has vividly explained scenario "India's Pre-1991 Planned approach to development helped the country escape from the massive illiteracy, recurrent famines, fertility rates of about 7 children per women, and secular stagnation prevailing before independence. However, it also led to an ever extended public sector, responsible for half of the country's gross investment, and created severe financial imbalances which are yet to be corrected. It isolated the country from the rest of the world with the result that from 2 percent in the 1950's, India's share of World Trade had declined to less than half of one percent in the late 1980's. It forced Indian consumers to pay higher prices for goods of lower quality and deprived the country of the benefits of foreign direct investment and modern technology. It discouraged production for exports. created recurrent shortages of foreign exchange, and made the balance of payments extremely vulnerable to external circumstances." In these years the rate of economic recovery has been unexpectedly fast. Now all sectors of the economy need a new strategy.

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