Every nation defines its mode of governance through a number of policies. These policies are described as public policies. In the national and international parlance, public policies are as old as governments. In the Post – Second World War period, a number of transnational companies evolved which started to work in different parts of the world. They align their operations according to the public policies of those nations where from they operate. Infact, all large corporate houses align their corporate policies according to the set government policies of the host nations.
Policy Framework in India:
India attained freedom in 1947, with a partition of the nation. Riots and famines broke out in different parts of the nation. The new government of India faced a mammoth developmental challenge. Strong policy making was required as the nation had a diversity of languages, cultures, inequalities. Thus, India was looking for strong policy decisions.
Policy in the Contemporary Global Economies:
In the contemporary world, the emerging economies like Brazil, Russia, India, China and SouthAfrica have distinct policies on governance. The Socialist and Communist states like China, North Korea, the erstwhile Soviet Union used to set highly controlled public policies. To cope with the varied economic problems and demands of the people, every single government has to outline these policies.
Meaning Of Policies:
In any nation, policy making process is related to political actions. When India was a British colony, public freedom was conspicuous by its absence. Tax rules were stringent on Indian traders, where as a democracy frame liberal policy. In the Indian democracy, we have several political parties. Leaders are free to argue in the parliament. State and the centre have many shared responsibilities.
Policy in the Contemporary Global Economies:
- Liberalization
- Privatization
- Globalization
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