Needs, wants , development, demands, growth, GDP ....

"What is development?" I always ask the question to myself looking at the flourishing malls and other so called development signs when I pass by.
The question is bugging me from last many days and I'm not really able to find a justifiable answer to the same.
We often compare India with developed countries and keep talking about how things can be done better here. From last few years we are really experiencing the superficial growth symbols which has touched only 28% of population. We always talk about a great deals of plans to improve infrastructure and quality of life but India has greatly failed to bring smiles on the faces of most, if not all, citizens.
I'm not here to give lecture on farmers and their suicides because I don't have time to keep chewing the gum. My point is why are we happy when our economy is being holed because of virtual happinesses?
We often talk about billion dollar acquisition deals by indian companies, number of Indians in forbes list and many other things which doesn't make sense to our lives but do we really take care to improve the way things are going on? Do we really analyze the long term impacts of this short-lived relationship with virtual development?
I'm sure most of us(I was in the same list a while back) are so much into our comfort zones that we don't think what would be prices of grains when there would be no-one to farm here. Farming, the backbone of Indian economy and the gonna-be hot sector due to population explosion has no-one to look after as everybody is running behind ipods and malls. This is really going to be crucial within next few years when oil supply will go down and basic needs(food,shelter, clothing) would come in forth.
We Indians are so much into 9% GDP growth thing that we are patting our own back and dreaming about our glossy future as a global power. Lots of studies have predicted India as the 2nd biggest economy after China somewhere around 2050. What the hell are we going to do with the crown in 2050? And is it really going to happen with diminishing oil supply and the growing gap between social layers?
It's really easy and feel-good thing to see glossy pictures about red-carpets but the reality is quite harsh. We were evaded and robbed by many and we started off from a scratch just since 1950s. We always wish to be like EU nations which put centuries in development process. We are trying to reduce the social imbalance by the means of reservation but have we ever though of minimizing the economical as well as the skill gap which is still there? What if the next generation of farmers give up farming considering the flashy atmosphere in cities? What if there would be no means to fulfill our basic needs? I'm not an economist nor a anthropologist. It's just that I care about my own future!