Socialism in Indian Constitution
The Constitution of India (42nd Amendment Act, 1976) has introduced the word ‘socialistâ€ (in the Preamble) to qualify our Republic.
The text of the Preamble of Indian Constitution, as amended, gives almost the highest place of honour, to the objectives of socialism.
However, the term ‘socialismâ€ has not been defined by the Constitution. In Indian context, the ‘socialistâ€ gives a positive direction to State activities. They include:
wiping out poverty,
modernizing the economy,
preventing the growth of monopoly
reducing disparities and inequalities between different classes, castes and religions.
In short, the term ‘Socialism’ in Indian Constitution seeks to establish a welfare State.