The ongoing recession has become a cause of concern now as it had affected all and sundry.
The ongoing recession has become a cause of concern now as it had affected all and sundry. However, the fact that India has grown at lot in recent years cannot be ruled out.
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With the booming economy, the rich have become richer while the poor haven't actually got their share.
Thus, speaking on the golden jubilee conference of National Convention Committee of Institute of Cost and Works Accountants of India (ICWAI), which was held yesterday, Sanjay Bhargave, chairman ofu00a0 ICWAI, stressed that India's growth needs to percolate down to the needy.
"Although the per capita income had increased, the gap between the rich and the poor has got widened, which shows that benefits of the growth is concentrated and has not percolated," he said.
Bhargave suggested that accountants must now start playing a role in policy making process at every possible level so that the benefits of growth reaches the lowly.
Likewise, Ravi Chopra, chairman and MD of Piaggio Vehicles India Pvt Ltd., said, "We are still very far from achieving the goal of inclusive growth."
He added that if the social spectrum of the entire society is not taken into consideration while planning for the economic progress, the pace of this growth would surely get hampered.
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