ABSTRACT
This research paper highlights the complexity and ever-evolving nature of socialism, emphasizing its importance in achieving socioeconomic justice and minimizing disparities. It reviews historical texts, court cases, and constitutional amendments related to socialism involving political thinkers, jurists, philosophers, and lawmakers. It delves deep into the Constituent Assembly’s discourse on socialism, focusing on the research problem of incorporating socialism into India’s constitution while maintaining democratic principles. Key figures like Nehru and Patel influenced discussions. Results showed socialism was implicit in the Preamble and Directive Principles, impacting social justice, economic equality, and welfare measures. Balancing Fundamental Rights with Directive Principles is crucial for achieving social transformation. The text explores the conflict between securing federal character in India’s constitutional framework and embracing socialism, focusing on the impact of privatization and liberalization policies on state subjects like land, agriculture, and taxation. It suggests a balanced approach that respects socialist mandates while promoting economic growth. The text emphasizes the importance of upholding socialist principles in India’s economic policies, particularly concerning nationalisation, privatization, and socialism. It highlights the need to balance these aspects to protect stakeholders like employees. The research suggests that the State should prioritize fulfilling its obligations without compromising other constitutional aims, ensuring social justice for all segments of society.
Keywords- India, Socialism, Constitution, Economic Growth, Social Justice.