Social institutions all the world over influence the course of economic activities a great deal. The social institutions are being molded in accordance with economic requirements.
Some of the social institutions are of very long standing in India. They have consequently become very rigid in their operation. Their influence is very much reflected on the economic life of the people.
There are several social institutions in India, such as the joint-family system, the caste system, the laws of succession, inheritance and property. Some of them appears to be unsuited to the economic conditions of a modern community, and only prevent the full action of the economic forces.
There are many social customs, usages and practices as well.