Daily Debates – GDP – Is it just an indicator of growth or does it reflect true development?

GDP – Is it just an indicator of growth or does it reflect true development?

Provide your inputs in the comment section below.

Think everyday, and add little extra everyday- after all drops  only make the ocean, and you can’t drink a ocean in one day , but if you drink few drops everyday , you might end up drinking the ocean.

So think everyday , write everyday and add few drops of knowledge everyday.

“It is not that I did not know certain points to certain answer , but in the hours of exam , it did not come to my mind” – Thats is the worst part.

So think everyday so that in exam , you no more need to think.And honestly , there is no time to think either.

Think, Write and Participate – Little efforts of everyday weighs heavy than efforts of long hours for few months.

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By | 2016-05-25T23:30:37+00:00 May 26th, 2016|Daily Current Events|7 Comments
  • ..

    • I am pushing very hard but I always end up writing in 10min… I want to reduce it upto 8 (atleast)…

    • The answer is Fine, Comparision with HDI is good, but restrict giving much empahsis on HDI and what UN should do .Rest of your answer is fine. Few points can be included such as :-

      1)Care economy
      2)Negative externalities
      3)Overall indicator of progress and social audit
      4)Inequality index etc

      which are not reflected by GDP hence it is purely a growth indicator and we should go for other indicator and give them equal footing with GDP so that emphasis on the development also forms part of policy.

  • sowmya

    Gross domestic product(GDP) for the country is the final value of all goods and services produced in the country for a particular year.It often results the size and growth of
    economy rather development in true sense.Development which ensures equal well being of people is beyond growth which can be described as better education and health prospects,justice,happiness,sustainability,equality etc

    GDP failed in providing clear picture about development which can be substantiated by :

    1.GDP doesn’t ensures equality in growth.It might be enhanced due to inflation or concentration of money in few results in inequality rather welfare
    2.Ignores crucial components like women household chores which is crucial for people to survive
    3.Doesn’t include externalities like environment pollution which affects quality of life
    4.Doesn’t depends on outcomes rather inputs like : how much money spends on health but not on life expectancy

    Considering this international agencies propounded HDI,GDI,GII like indices to reveal crucial development features of the country in terms of education ,health,gender equality where india always on median categories despite higher growth rates of 7-8% .Bhutan govt developed GNH which measures happiness of its people as true development.

    Its is the high time for the indian govt to consider other options like social progress index complementary to GDP to ascertain the clear picture of development by majorly focussing on outcomes,performance based budgeting, to identify enhance spending at weaker sections and to appreciate and follow the brighter ones.Recent MP proposal of happiness ministry to gauge state progress is welcome step

    • sowmya

      Plzz review

    • The answer is good Sowmya, here are the feedbacks:-

      1)It often results the size and growth of … – If often reflects
      2)It might be enhanced due to inflation or concentration of money in few results in inequality rather welfare – kindly change this statement to a better one as this one is little vague
      3)you have mentioned externalities which is good – mention it as negative externalities.
      4)social progress index complementary to GDP to ascertain the clear picture of development – this is a very good statement.