ABSTRACT

Liberalization Privatization and Globalization was created by the then Prime Minister
Manmohan Singh and the then Finance minister PV Narasimha Rao.This LPG model
was introduced by them on July 24,1991 .It is also called as 1991 model.They
prepared as set of rules and regulations to be followed.It was called as Rao-Mohan
Model.The LPG was introduced under the government of Chandra Shekar Singh
reforms in 1980's.Here Liberalization men's loosening of government
controls,Privatization means giving up the government owned entities or companies
to the private institutes in order to its development,and Globalization means growing
interdependence of the world's economies, making our economy ready to compete
with the other economies.There are different and number of types of Liberalization
Privatization and Globalization that are prevailing all over India and the world.This is
a very vast subject to learn as it deals not only with India but all throughout the
world.In this project I'm going to explain about LPG it's types separately and it's
advantages and disadvantages in different contexts and aspects and the condition of
it in the present society.And we will also know about the major LPGreforms that are
made ever since the beginning till today.As a sociology of law student and as a
independent and responsible social citizen we have to learn about this.Finally I will
conclude with few legal problems and benefits linked to the topic.