The task before us is to devise a strategy for the 8th Five-Year Plan and beyond that guarantees an improvement in the level of economic and social well-being of the common people. It will be shown in this Report that achieving such an objective is a many-splendoured thing: it requires maximising the growth rate of per capita income within the framework of macro-economic stability, while strengthening the mechanism for distributing the fruits of economic progress eqitably between the factors of production across income classes, regions, genders, and generations.