The NEP 1991 has both positive and negative effect. The liberalization, privatization and globalization policies are not very successful. Some sectors shows a good growth while some not. According to some scholars globalization is for developed countries. As globalization has given possibility for big industries to rise. With improved technology and global markets for large industries. Developed countries get a international market.
On contrary some scholars says that poor countries loose their welfare because of globalization. Poor country did not get any benefit from globalization. Because of all these differences among poor and developed nation widened.
In India globalization also widened the gap between poor and rich. The better sector gets more better and poor become more poor. Standard of living of high income people improves. Only some selected sector shown a improvement. Telecommunication, information technology, entertainment, finance, travel, real estate and trade shown improvement. But sectors like agriculture ignored.