The New Indian Express ·
GDP number is not a certificate of prosperity, says DCM Dr Parameshwara
BENGALURU: Deputy Chief Minister Dr G Parameshwara on Friday said the Union Government is once again celebrating a high GDP growth number as if it is proof that every Indian is becoming prosperous. “But the people of India deserve to ask a simple question: If the economy is growing so rapidly, why are good jobs, higher incomes and economic security still out of reach for so many?” the Deputy CM said.
“India does not merely need a higher GDP. India needs higher incomes, better jobs, stronger exports, competitive manufacturing and economic security. India needs growth that reaches every household. This is not about whether India is growing. India is growing. The real question is, are we growing fast enough, inclusively enough and sustainably enough to secure the future of our people?” he said.
Dr Parameshewara said the government has recently changed the GDP base year from 2011-12 to 2022-23, along with significant changes in methodology, data sources and estimation techniques. “At the same time, the government is highlighting exceptionally high growth rates without adequately acknowledging the Covid-19 shock and the unusually low base created by the pandemic-induced contraction.
