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
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