85 per cent of the people left out of growth process, says Ashok Mitra
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02/04/2008
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Hindu
Noted economist Ashok Mitra said on Monday that the uneven growth taking place in the country has benefited only 10 to 15 per cent of the total population and an overwhelming majority (85 per cent) has been left out of the growth process. While the growth rate has touched the 9.5 per cent mark, the rich have become richer and the poor much poorer. Giving a lecture on "Challenges of inclusive growth in India in the age of globalisation,' organised by Anwesha, Dr. Mitra said that because of the disparity in the growth process one section has become so rich that they can now buy even foreign companies. Highlighting the disparity in growth in various sectors, he pointed out that against a growth rate of 15 per cent in the services sector the growth rate in agriculture was only 2 per cent. Even within the services sector, the growth was uneven, with the Information and Technology accounting for the highest 40 per cent. The growth in various segments of the services sector involving lower income groups such as street vendors, petty garment hawkers was very insignificant, he said. While the growth rate in industry was six per cent, it was much more in organised sectors of the industry, particularly in luxurious consumer goods than the small industries in the unorganised sector. On the other hand, 40 per cent of the farmers who have contributed to 2 per cent growth in the agriculture sector are landless and have been deprived of the benefits of the country's 9.5 per cent growth, he said. Dr. Mitra underlined the need for passing the authority and responsibility of implementing the various Central sector welfare programmes to the States to ensure their better implementation and to bring an end to the problem of benefits of these schemes not reaching the actual beneficiaries due to long bureaucratic chain.