Why, in your opinion, the growth of Middle Class is considered as favourable development for a society? Critically examine how liberal economic policies and globalisation have impacted middle class in India. (200 Words)

The middle class is a group of people in contemporary society who fall socio-economically between the class of people who are poor and the upper class. Their growth is considered favourable due to the following reasons:
-> It shows the society is indeed progressing; more poor people are coming out of their poverty.
-> They are relatively more satisfied with their social condition and their future than the poor in society. Therefore, they contribute to social stability.
-> They are more likely to favour forms of parliamentary democracy, the rule of law and freedom of speech and expression, making it a force for political fairness and stability.
-> If their numbers become substantial, then they can become consumers of goods and services and therefore, drivers of future growth.

The liberal economic policies and globalisation post 1991 have opened up opportunities, as well as challenges to the Indian middle class.
-> Relatively easier to get quality education in India and abroad.
-> Wealth of choices in goods and services – automobiles, deodorants, mobile, etc.
-> Expansion of private sector jobs (e.g. IT-related); growth of BPOs, expansion of tourism industry, which in turn increases the service-sector related jobs.

The challenges to the Indian middle class in the wake of LPG of 1990s:
-> Susceptible to global financial incidents, the repercussions are felt by Indian employees. For e.g. the shutdown of Nokia factory in the outskirts of Chennai.
-> The influence of radicalism is a threat to the Indian society, e.g. the ISIS influenced youths.