BB Bhattacharya, an economist and former vice-chancellor of JNU, Delhi, addresses a lecture, “India After A quarter Century of Liberalisation and Globalisation”, on the foundation day of AN Sinha Institute of Social Studies in Patna on Wednesday. He said: “India could not reap the benefits of liberalisation and globalisation because it neglected the aspect of human capital formation and health facilities. The faster growth rate can be attributed to stress on human capital formation before liberalisation. In India, human capital formation is abysmally poor. The main driving force behind globalisation was the shortage of foreign exchange.” The institute’s chairman DN Sahaya and director DM Diwakar were also present on the occasion. Text by Anand Raj, picture by Nagendra Kumar Singh