Using official reports and supplemented with field notes, this paper examines the quantum and nature of exclusion from and inclusion in “development”. Data reveal that for women, education and employment move in opposite directions, literacy among women workers is lower than literacy among non-working women and development is not closing the gender gap. The bulk of women “included” in development disproportionately constitute the unorganised workers; the latter are those in the unorganised sector plus those working in the formal sector as informal workers. Given such a macro context, the paper is sceptical of the feminist agenda of engendering development.