Growth with Justice

While a rapid GDP growth rate is a necessary condition for well-being, it is by no means a sufficient condition. Economists have long accepted that the market may be a very efficient allocator of resources to maximise output but not an adequate dispenser of social justice.

GDP growth depends very materially on the commodity producing sectors of agriculture and manufacturing industry performing much better than now and in a more consistent fashion. This is, of course, possible; but the chances of achieving such a growth rate require the stepping up of domestic investment rather steeply and an all round increase in factor productivities, together with more employment of labour. Further, productive, distributive and social justice must be ensured for a real development and an overall well-being.

In order to brainstorm on the subject in Indian as well as global context, the LEAD Trust and Unity Degree College, jointly organised a national seminar on April 10, 2016, at Unity Degree College campus, Lucknow, India. Noted academicians, experienced administrators, planners, developers, bankers, trainers, faculty members, research scholars, and students from different Indian states submitted their papers for the seminar.

This book is a compendium of these papers.