The Development Of A Nation Essay example

1375 Words Feb 3rd, 2016 6 Pages
1.1 Introduction

Development of a nation does not mean only to the development of infrastructure, innovations and technology but in fact it is related to the development of each and every citizen in context with their standard of living. It is necessary to ensure that the benefits of growth accrue to all sections of the society. A nation will move on the path of development when the common people are involved in the development course and have a good quality life by accessing the basic amenities such as food, cloth, house, health, education, employment and good social natural and environment.

India has undergone a paradigm shift over the past six decades-politically, economically, socially, technologically as well as demographically, but still is a developing country and about 21.9 per cent of its total population lives below poverty line (Planning Commission of India, 2011-12). These poor people are struggling even for the basic essentials of life. Therefore, poverty eradication has always been the target point for the government after independence of India. The government adopted several development strategies to alleviate poverty in which, institutional credit was considered as a powerful instrument for enhancing production and reducing poverty. Co-operative banks, commercial banks and regional rural banks (RRBs) were chosen for this purpose. Also one of the main objectives of the nationalisation of fourteen major commercial banks in 1969 and another six commercial…

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