Live in an era of LPG…..(Liberalization, Privatization, Globalization)

LPG---- Liquefied Petroleum Gas noooo…. its now Liberalization, Privatization, and Globalization. The first commencement towards globalization and economic liberalization was undertaken in India by Dr Manmohan Singh, in 1990s,. It may be considered as the milestone in the economic growth if India and it aimed towards welcoming globalization. Now India has an average yearly growth rate of around 6-7%, may be said as the fastest growing economies in the world. To assess the impact of Globalization it can be said as India has become a huge consumer market by the influence of LPG. To make India world’s 12th largest economy in terms of market exchange rate and 4th largest in terms of the Purchasing Power Parity, the impact of these three are tremendous. As per the World Bank report, the Indian market is expected to grow at around 8% in the year 2010. Although liberalization is often linked with privatization, the two can be quite separate processes.

Criticism: The absolute consequence of privatization and globalization is the obliteration of local communities' natural resources and other indigenous assets. Globalization and privatization gifts entirely no benefit to any community it invades in India. It can better be summarized as Globalization and privatization are intended to mislead the public under the banner of a better life and favorable trade conditions. The ultimate outcome of LPG is making the poor much poorer and the super rich even richer. Privatization of public property is the legalized robbery of public resources and assets. It reality it is stealing the property from the ordinary citizens and giving the loots to the greedy criminal executives and CEO's of Giant Corporations of USA.