Socialism is still relevant. Comment
Socialism in english means a political theory that advocates state ownership of industry. However as a concept it has taken different forms in different parts of world. Russia adopted industrial socialism, China adopted agrarian socialism and India adopted a socialist pattern of society.
Socialism was added to preamble by 42nd amendment act. The directive principles uphold values of socialism . Between 1948 to 1991 India took several measures to fulfill the socialistic objectives like
a) Nationalisation of banks
b) Abolition of privy purses
c) Removal of right to property as a fundamental right
d) Land reforms
e) Expansion of public sector
In 1991, India undertook several reforms in form of liberalisation, privatisation and globalisation. Since thn there has been a gradual rollback of state and expansion of market.
Since then there has been a gradual decline in socialism. Many have questioned the relevance of socialism in present day. However as supreme court rightly pointed out , socialism in India aims to end poverty, ignorance and inequality. These are problems which still torment India. We need to hold on to our socialistic ideals and take necessary steps to tackle these maladies. State still for a large section of downtrodden is the sole service provider and bread winner. Hence in this era of growing capitalism, socialism is of more relevance than ever before