Quixotic heroism cannot lead the country: Pranab Mukherjee

India needs leaders who can help meet ever-increasing rising expectations of people and "quixotic heroism" cannot lead this nation, former president Pranab Mukherjee said Monday.

"Quixotic heroism cannot lead this nation. India needs leaders who can help them meet the nation's ever rising expectations. The country still has a long way to go before it is completely rid of poverty," Mukherjee said while addressing corporates at AIMA Managing India Awards.

He also expressed concern over the estimate that 1 per cent of Indians hold over 60 per cent of the country's total wealth and called on corporates to help bring people out of poverty.

"The situation become all the worrisome if one looks at figure that more than 60 per cent wealth is held by just 1 per cent India's population. While such figure are definite burden on our national conscience, they also indicate that our growth needs to more inclusive then equitable. The one who are left behind drag others in the developmental narratives," Mukherjee said.

According to the IMF, India is the world's seventh largest economy of USD 2.69 trillion size.

According to a UN report, India's GDP growth is expected to accelerate to 7.6 per cent in 2019-20 from estimated 7.4 per cent in the fiscal ending March 2019, he said.

"Over 270 million have moved out of poverty line in the decade since 2005-06 and the poverty rate in this country nearly halved over the previous period. This is a positive side. There is significant 269 million people who live below poverty line," Mukherjee said.

He said that profits that seek to create wealth for only individual ultimately end up creating vast inequalities and such a situation leads to production becoming untenable.

Mukherjee called upon business leaders and decision makers to orient themselves to large set of social goals of not only for personal benefits but also employment generation, creation of social wealth and more opportunity for the economic growth of the largest number of persons.

He said that the country still have to find the solution to ever growing distress in the farm sector so that the segment acquires its lovely place in larger scheme of things.

"We still need to put into place quality and affordable healthcare infrastructure in every area, nook and corner of the country. We need to put more young people to work in order to become a truly prosperous and proud nation. While india has made lot of progress on the quantitative side a lot of work is still needed on the quality aspect," Mukherjee said