High economic growth rates are essential because they generate huge revenues for the governments, which can then be utilized for social welfare and infrastructure expansion program. Of course, it goes without saying that rapid growth alone is not enough. It must be of a nature that creates increasing productive employment opportunities. It must be inclusive so that more and more sections of society benefi t visibly and tangibly from high economic growth. There is a third dimension to economic growth, that in addition to being rapid and inclusive, it has to be ecoologically sustainable as well.
