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Globalization and politics

Raksha Kumar
Freelance Multimedia Journalist
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piqer: Raksha Kumar
Friday, 21 September 2018

Podcast: India's Growth Rate Story: An Illusion

India's federal government has constantly harped on how India's development story is a fairy tale. The finance minister, during his budget speech, foresaw a growth rate of more than 7%.

However, in this podcast simple questions are asked. Is GDP an indicator of overall development? Does higher GDP signify better quality of life? 

Prof Janakarajan from the southern city of Chennai seems to believe so:

We are masking an impending disaster, and completely misunderstanding quality of life. What if our 'growth' is actually negative? What does our increasing GDP look like when we start accounting for the loss to our environment? 

A reasonable look at India's growth would not paint a very rosy picture. For a population of more than 1.3 billion, with about 500 million poor people, the country needs inclusive development, which the GDP fails to show. 

Entire rivers are being wiped out and populations are fighting over water. In such a situation, what good is a 7% growth? 

Podcast: India's Growth Rate Story: An Illusion
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