While there is no gainsaying that India has made progress by leaps and bounds in the last 15 years, it have arrived late by a good 25 yrs. This has been primarily due to high corruption at various levels of governance, populist approach of various govts in order to continue in power, population explosion at BPL, self-sympathy of the middle class and the exhuberance and non-chalance of the rich to name a few. The other major reasons are, increased nexus of the politician-police-underworld, long-winding judicial procedures and red-tapism. Despite record production of crops and other essential items, faulty distribution system has lead to increased starvation at the BPL while the greed of the middle-men has led to increased suicides by farmers, who are the main heros of this hapless nation. Also, the economic growth has been lop-sided favouring mostly the urbanites while ignoring the rural class and the poor. India still has a long way to go before it can be truly called a developed nation.