There is some exhilaration in India today about our rates of growth tending to catch up with that of even China. But our growth rates are more gaseous, not only because our inflation rate is higher, but also because our social development rate is lower.

Let alone China, several other developing countries are ahead of us in Human Development Index. We rank 126th among 177 countries in this regard. This slows down economic growth too. There is a tension to find markets because the market potential in making everybody prosperous is not realised.