GDP formula -vote bank politics

Kashmir Times. Dated: 10/11/2018 3:04:02 PM

Dear Editor,
Refer to Opinion-Counter solutions “The poison beer of GDP” by Herman Daly (KT October 8, 2018). Report says “In 2015 India changed the methodology to measure GDP -to create comparable data set for years…. The result showed that the former UPA apparently performed better on economic growth than the current NDA. …. the government withdrew the study.” Remember the proverb “Lies, damned lies and Statistics” GDP alone is not the barometer of overall economic and other growth in any country. Like Sensex is not true barometer of economic progress, the same applies to GDP also. Now GDP data (manipulated?) is used for the vote-bank politics for their selfish interests.
The economic and non-economic welfare of people is completely ignored. Politics in forefront overshadows all the good economics of development in India-for example, reservation of any kind any reason is more harmful for the economic growth of the country, but it continues. By reservation, a country becomes weaker, but politicians cannot understand economic principles!
—M. Kumar,
E-Mail: mknd0909@gmail.com, New Delhi.

 

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