The implementation of welfare schemes has significant impacts on India's economy, both positive and negative.

• Positives:
• Improved standard of living for individuals benefiting from these schemes
• Creation of employment opportunities through schemes like MNREGA, which boosts rural incomes and reduces poverty levels
• Better access to healthcare facilities, thereby reducing healthcare costs for common people
• Enhances the overall human development index of the country
• Negatives:
• Increased government expenses on welfare schemes, which can lead to fiscal deficits if not properly managed.
• Possible misuse of welfare schemes by corrupt government officials, which can lead to leakages and diversion of funds.
• Disincentivizes work culture and entrepreneurial mindset in people, as they may prefer to rely on welfare schemes rather than working

Overall, if welfare schemes are implemented correctly, they can have a significant positive impact on India's economy. They can help in achieving the twin objectives of inclusive growth and equitable development.