The 73rd and 74th Constitutional Amendments were significant as they gave constitutional status to local self-governments in rural and urban areas respectively in India. The following are the importance and impact of these amendments on Indian politics:

• Decentralization: The amendments provided for the establishment of Panchayats and Municipalities, thereby decentralizing power from the state level to the local level.
• Empowerment of local bodies: The amendments provided autonomy and financial powers to local bodies, enabling them to take decisions independently.
• Participation: The amendments promoted the participation of women, backward classes, and minorities in the democratic decision-making process at the grassroots level.
• Reduction of corruption: The amendments reduced corruption by involving local representatives in decision-making processes and ensuring transparency in local governance.
• Accountability: The amendments ensured accountability of local bodies to the electorate by mandating regular elections and periodic reviews of their functioning.
• Democratic rights: The amendments strengthened India's democracy by ensuring greater democratic participation at the local level.

Overall, the 73rd and 74th Constitutional Amendments have significantly contributed to the empowerment of local communities in India and facilitated their participation in governance.