In today's world, the government touches almost every aspect of an individuals life, from safety and security of life, provision of education, health, roads, and electricity to creating an enabling environment where human beings can find an expression of their potential in their chosen vocation of business, industry, education, science, art and music. When India attained Independence in 1947, it wanted to attain rapid economic development to provide decent standard of living to its people and launched ambitious Five Year Plans. With the launch of Five Year Plans, especially from 1970 to 1990 the country adopted a socialist model of economic development with high degree of centralisation and controlling almost every aspect of economy. The model of development adopted by the government, since the launch of Five Year Plans, portrays human beings as one-dimensional, guided solely by economic considerations and material wealth, ignoring the fact that human beings are multi-dimensional whose joy comes from many sources.