This document discusses the convergence of priority and profitability in development. It notes that priority sectors like rural finance, housing, and infrastructure were traditionally seen as socially desirable but unprofitable, requiring government subsidy. However, changes since the 1970s show these sectors can be profitable with private initiative, as seen in housing finance, rural telecom access, and rural consumer goods marketing. It encourages pursuing careers in priority sectors and rural development through institutional building, consulting, education, and public service to drive inclusive and sustainable development.

1. Convergence of Priority and Profitability SDM Post Graduate Centre for Management Studies & Research, Mangalore. July 24, 2010

2. Priority Sector Socially Desirable Considered to be Not Profitable for a long time Government Subsidy Limited Growth Private Initiative shied away Housing, Telecom, Infrastructure, Rural Finance and Marketing of Consumer Goods

3. Profitability Urban Orientation Identification with Private Initiative Highly Taxed Considered Anti-Social Identified with Monopoly and Limitation of Competition Identified with Big Time Entrepreneurs

4. Change in Attitude Nationalised Banks in early 1970s in Rural Finance Mid 1970s, HDFC in Housing Finance Mid 1980s, Sam Pitroda & C-DOT Early 1990s, Private Telecom Operators Mid 1990s, Rural Marketing by Japanese and Korean TV manufacturers 1990s- AmartyaSen’s Social Security

5. Twenty First Century C.K.Prahlad’s Bottom of the Pyramid Dr. Manmohan Singh’s Recognition of Contributory Role of Moneylenders Inclusive Development Development of Micro-finance Innovative Approach to Rural Coverage through technology and bio-metrics Increased Importance to Rural Marketing

6. Problems of Rural Development Lack of Education Brain Drain Lacking Significant Voice Inefficiency of Local Bodies Hypocritical Political Leadership Lack of Suitable Delivery Channels for Government Projects and International Aid

7. Unchartered Territories for Career Development Institutional Building Limited Job Requirement Scope to do ‘Sky is the Limit’ Approach to a Wholesome Career Simple People to Deal with Obsession to make Money to be relegated to a secondary place Social Development being main concern

8. Where to Begin Understand Yourself Study Your Passions Lesser Orientation towards Market Select an Occupation that will be a Relaxation No Occupation against your passion, competence

9. Preparations Study various Occupations Determine your Suitability Localise your Selection Understand the Requirements Increase Your Ability for the Occupation Use Your Imagination and work out the scenarios of development

10. College Agenda 100% Attendance in the Class Reading a General Newspaper Reading Commerce & Industry Supplement in General Newspapers Reading & Subscribing to Business Line or Business Standard Reading Journals and Books

11. Resultant Abilities Listening Ability Absorbing the Essentials & Vitals Communication Ability to Understand others Leadership Qualities Planning Ability People Management

12. Advisable Careers Bank Correspondent Self Help Group Gram Panchayat Officer Non-Government Organisation Micro-Power Generation Teaching Anti-Corruption Bureau

13. Other Professions/Occupations Environment Protection Disaster Management Old Age Homes/Orphanage Consumer Protection Consultation for RTI Labour Advisory Services Agriculture Consultancy

14. Educating the Public Journalism Writing Books Movie or Documentary Making Commercial Movies carrying a Message Creating Video Content for Educational Purpose

15. Public Life Politics Administrative Service Legal Practice Health Practices Running Associations for Specialised Activities

16. THANK YOU