Title:
Inclusive Growth in India: Social Justice Linking Thrift and Savings

Authors:
Arpan Mukherjee, Dr. Manik Chatterjee, India

Abstract:

India has been waiting for a long time and millions are living in poverty with issues of 'Bhukh, Bhay & Bhrastachar' (hunger, fear and corruption). Justice-social, economic and political remains an unfulfilled goal and vast areas of the country are still backward. But these challenges are opportunities for transformation. The country must utilize its resources through determined actions with a self-sustaining, democratic and self-regulatory organizational setup. A development approach that benefits people and the economy should prioritize rural areas, aligning with social objectives and local community capacity. Development is a transition process and requires continuous assessment of economic, technical and social trends and systematic adaptation of programs to new requirements. Sustainability requires a fundamental shift in the system of values including economic and tangible assets which have evolved through various phases - from a centrally planned economy to political upheavals, transition and finally an established market economy. Sustainability as an over-arching principle integrates economic progress with demographic balance and environmental harmony. Effective governance, surveillance systems and institutional frameworks must be put in place to optimize resources and prevent financial leakages. Digital transformation, financial inclusion and skilled workforce will shape India's economic future and ensure inclusive and sustainable growth. Credit institutions have contributed to growth in agriculture and industry but 300-320 million people in poverty still don't have access to formal credit. To improve income levels and access basic amenities a new regime of credit is needed to leverage human resources and social and economic constraints.

DOI: https://doi.org/10.51505/IJEBMR.2025.9503