Entire world is passing through a great turmoil and unrest. Economy of some of the Developing states is at the door-step of break down. We all aspire for a development strategy impregnated with sustainability components. India witnessed such kind of implications of corruption and poor governance during the tenure of Nandas and also witnessed a movement for revival of the states under an efficient guidance of Chanakya. We are planning for a bright tomorrow after learning from some past experiences. It is a kind of tracer study through which relevance of the policy recommendations and other propositions of Chanakya were experimented in particular in the resent day context. It may not be claimed that recommendations of Chanakya and Dr. J. C. Kumarappa are acceptable up to the farthest plan, but some of the relevant points can be reconsidered for linking up resources, skills and technologies with maximum possible perfectness.