Inclusive Growth – a Paradigm shift in the benefits of Economic Development

Abstract

Growth is the mantra that has been visioned & frequently charted by the policy makers, academicians, planners and the industry captains. Although the 11th Five year plan commissioning from 2007 is talking about an accelerated growth rate of 9%; robust growth, which is being frequently talked about, had created two Indias – one which had enjoyed the fruits of  growth & shined and the other section which had remained where it had been in the past. Unfortunately, this second India is larger in dimension,  away from the quality of life enjoyed by the urban India. This paper aims to instigate the concept of “Inclusive Growth†as a apadigm shift in the thinking of the conventional theory of economic growth and how it could contribute in terms of its welfare implications. The paper also makes an attempt to portray how each stakeholder could contribute to remove this disparity and thus help in achieving inclusive growth.