Letter to BS: Q GDP growth quantification will empower decision makers

Apropos “A positive surprise” (September 3), the need of the hour is to report quality GDP (Q GDP) numbers than merely a growth in GDP. A Q GDP growth would take into account growth after adjusting economic impacts from the environment, health and natural factors. The comparison of GDP growth over the years, reflecting economic welfare gains is more relevant, meaningful and necessary. The NITI Aayog can help by reporting comparative numbers over the years for emission-intensity of GDP and quantifiable impacts of expenditure incurred on mitigation policies. What component of the goods and service tax collection is going towards environment mitigation?

Reporting Q GDP will make citizens responsible and change consumer preferences in a manner that it contributes to environmental sustainability. All stakeholders need to know true stock market indices linked to Q GDP growth than inflated or misrepresented indices caused by reporting a mere quantity GDP growth number. Is welfare expenditure being incurred by the government worth its value? A Q GDP growth quantification will empower decision makers and empower the country. 

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Ajay Sagar Chandigarh

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