India's Reddy on the true aim of economic growth

The prospects for growth and stability in India are great, but greater are the challenges in fulfilling the very basic objectives of public policy, said Y.V. Reddy, the governor of the Reserve Bank of India.

"Perhaps we should track not only the addition to the number of billionaires in India but also the depletion in the number of millions of poor and unemployed," Reddy said.

"For some, Indian economic progress signifies the beginnings of a major economic powerhouse in the world. But for many

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