Indian's GDP is larger than Nepal's,yet it lags in human development indicators. why?
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THE PULSE
Why GDP Is a Bad Indicator for India’s Economic Development
GDP is not a good indicator of measuring the economic progress of a country.
By K.S. Venkatachalam
October 18, 2016

Credit: Flickr/Ahmed Mahin FayazADVERTISEMENT
The macroeconomic projections of the IMF, World Bank, and Forbes asses that India is one of the fastest growing economies in the world and that she will become the third largest economy of the world by 2030. In fact, Forbes even suggested that India might outpace China in terms of economic growth. These predictions are based on India’s Gross Domestic Product, which has been consistently growing over seven per cent per annum during the last two years. Another factor going in India’s favor is its prudent fiscal policies and ease of doing business.
The larger question, however, is whether GDP is an effective metric to determine the well being of people in a country. It is true that India is slowly emerging out of the shadow of China but, when we take into consideration other social indices like education, health services, housing, and environment, India is a laggard.
India has been ranked 97 out of the 118 developing countries by the International Food Policy Research Institute’s Global Hunger Index 2016 (GHI), released this month, highlighting the seriousness of the prevailing hunger situation in India. Even countries like Nepal, Sri Lanka, and Bangladesh have been ranked higher than India. In fact, India’s rank has slipped from 83 to 97 in the last two decades. The GHI findings should be a wake up call for India, as it needs to give more focus on issues relating to “inequity in all dimensions, including region, caste, and gender,” if they have to be considered as an emerging global power. The study shows that, “at the end of 2016, around 15 percent of the country’s population was undernourished, although down from 17 percent at the end of 2009.
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