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India’s economy as third largest: Just a guarantee of the inevitable | Mint Primer | Mint
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Prime Minister Narendra Modi's claim of India beco... morePrime Minister Narendra Modi's claim of India becoming a top-three economy is likely due to population and economic growth, rather than his term.
Yet, GDP isn't the sole indicator of well-being. While GDP is significant, economists prioritize economic growth and per capita income.
Japan's stagnant economy challenges the idea of GDP as the only measure. Other factors like health, education, and environment, ignored by GDP, define a nation's well-being.
India's low rankings in hunger, gender gap, and press freedom highlight the discrepancy. GDP should be supplemented with holistic measures to gauge true progress and citizen benefits.
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