At this Institute, established by the great Prof. P.C.Mahalonobis, I hardly need to elaborate on the importance that was attached to domestic capital accumulation in early development economics. In fact, scarcity of capital and low domestic savings were considered to be, and rightly so, as principal causes of a country’s underdevelopment.
Undesirable and questionable disruptive innovations 30. While so far we have discussed certain disruptive innovations which we support, we also need to discuss certain other innovative developments which have the potential to be disruptive of course, but not of so desirable, or of questionable, relevance, or at least we need to be carefully monitoring and be vigilant.