Partial Fulfilment of the requirement for contemporary concern study in post graduate diploma in management program

Abstract

Today, India with its GDP of about a trillion dollars is the fourth largest economy in the world. The growth over the last 2 decades, since liberalization in 1990 has been simply phenomenal. India has grown from the Hindu growth rate of around 3.6% immediately after independence, between 1951-52 and 1980-81, to an average of 6.6% in the post liberalization period till 2006-07 . This however has led to an unequal growth and with greater disparity in incomes, the chasm among the rich and the poor have widened. This is also apparent in the contribution of the different sectors to India’s GDP. The service sector contributes about 55% to the National Income (and GDP) although it employs less than 10% of the population, manufacturing contributes 26.4% and the agricultural sector, which employs the largest population at about 58.6%, contributes only 18%, which is less than a quarter of the GDP. Also, the GDP growth for service sector is around 11%, compared to that of the agricultural sector at only 2.6% . To maintain a sustainable growth rate, it is necessary to bridge, or at least lessen, this gap significantly. It has become imperative to talk not just of growth but growth across all sectors. India’s eleventh 5-year plan, which is currently underway, has chosen the signature theme of “Inclusive Growth” . This theme can be further interpreted as 'towards faster and more inclusive growth’, which clearly reflects the need to find a sustainable balance between growth and inclusion . According to the 5-year plan, inclusive growth yields broad based benefits and ensures equal opportunities for all .