Growth de­ci­phered

Our de­bate Mea­sure the scale first (16-31 July, 2016) on whether GDP is a true and ac­cu­rate mea­sure­ment of growth has drawn a huge re­sponse from read­ers

Down to Earth - - LETTERS -

Gross do­mes­tic prod­uct, or GDP, is tool for mea­sur­ing the eco­nomic growth of a coun­try rather than its so­cial and en­vi­ron­men­tal growth. It is also a tool used by politi­cians, ad­min­is­tra­tors, busi­ness mag­nets and ex­po­nents of the ne­olib­eral agenda, such as on its per­for­mance and po­ten­tial.

Although GDP can­not be di­rectly linked to the wel­fare and well­ness of a na­tion, as the de­bate sug­gests, it plays an im­por­tant role in it. It is the GDP that de­fines a coun­try's short- and long em­ploy­ment, GDP is be­hind ev­ery­thing. Af­ter all, a coun­try can­not just go on with lofty ob­jec­tives with­out eval­u­at­ing its pocket.

How­ever, I agree that GDP has its own ad­ver­si­ties. It cre­ates ruth­less com­pe­ti­tion and leads to the ex­ploita­tion of nat­u­ral re­sources. I would have dis­agreed with the sub­ject of the de­bate had it been about GDP being an ac­cu­rate mea­sure of de­vel­op­ment. While growth sug­gests ex­celling by any means, de­vel­op­ment is a much broader term. It is about sus­tain­abil­ity, in­clu­sion and being happy.

Na­tional Hap­pi­ness ( GNH), which is now a much sought-af­ter goal in de­vel­oped coun­tries, es­pe­cially re­leas­ing a GNH in­dex. DEBOJIT DAS

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