I have heard people talk about GDP and say things like, India is doing good under Modi’s rule as our GDP is good above 7%. These people only repeat what they here from news channels.
The fact is that GDP has nothing to do with the people of the nation. GDP stands for Gross Domestic Product, which is the amount of production of goods and services that happens in the entire country during a period of time. Just go through it again. There is no mention of the people of the country in the definition of GDP. Our country’s progress is judged by GDP.
What the common man does not understand is that “production of goods and services” has no correlation with the development of the people. Goods and services can be produced by machines. And it is produced by machines mostly. And the replacement of humans by machines is being done at faster rate than ever. So, when production increases, it is not necessary that the common man gets any richer or have any better lifestyle. This phenomenon is called Jobless Economic Growth by economists.
But the common man doesn’t really understands it. The common man hears on television that GDP is growing, India is growing, and believes in it.
It is true production is growing. It is true GDP is growing. And it will continue to grow. But that does not help the common man grow. The common man should really concentrate on some other parameter, that is the HDI — Human Development Index. But since no media house talks about it, the common man doesn’t even know HDI exists. It is the increase in HDI that indicates that the common man’s life is getting better. And if HDI is to be considered then understand this. In 2010 India ranked 119 among 188 countries with respect to HDI. In 2016, India ranked 130, and in 2017 we are at 131. Instead of getting better with passing time, we are getting worse. Of course, the government and even media houses are not talking of it. More people are getting jobless day by day. More people are slipping into poverty. The disparity between the rich and the poor is widest ever.
50% of the wealth in India is owned by only 50 odd people. 90% of the wealth is in the hands of top 2% of the population. Only 10% of the wealth is distributed among 98% of the people, and that too not equally.
This disparity will go on increasing if the vast majority do not focus on the right parameters.
Here is how politics work. Politicians take money from the corporates to convince the population to vote for them. Once we are convinced, they get elected. This is the time when they have to return the favor done by the corporates, by focusing on policies that helps the corporates become bigger and wealthier. No doubt, they serve them well. If the common man understands this and questions on the right parameters, only then things will start developing in favor of the common man. Till then, Modi zindabad!