Unemployment, chronic poverty and consequent hunger remains serious problems in spite of economic growth in developing countries like India. Benefits at the aggregate level offered little or no relief to the poor. The most glaring example of the recent days is the touching of Sensex figure in India to 20,000, but does this indicate that the poor people in near future will go up by certain points above the poverty line.
Development must be redefined in view of the seriousness of the problems of poverty, unemployment and illiteracy prevailing mainly in the developing countries. If we are able to control or eliminate even up to a desired level the chief evils of the world today, like, malnutrition, diseases, illiteracy., unemployment, and inequality, etc. we can say that we are developing in the right direction. Measured in terms of aggregate growth rates, development has been a great success. But if measured in terms of jobs, justice and elimination of poverty, it has been a failure or only a partial success.
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