1.
| Received
04-Jun-2026 |
Accepted
- |
Published
04-Jun-2026 |
Abstract
The growth debate had taken an
interesting turn since the close of
the last century as the hitherto
known socialist economies also
preferred the neoclassical route
to economic growth. The Indian
experience showed that those
without assets, the uneducated,
the wage earners and the unskilled
have been the major losers
in the process of globalization.
The government therefore
needs to serve the role of a vigilant
market regulator. The preoccupation
of policy planners must
shift beyond GDP. While development
needs to be redefined in a
broad-based manner to include
many more elements for which
GDP remains an important enabler,
human development must
be taken as the ultimate goal of
development, argues the author.
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