The debate on growth versus development
whether economic growth on its own contribute to social development or
lead to substantial reduction in hunger, poverty, and illiteracy has been
extensively debated by economists in India today. In order to understand a
country’s general economic health, one can look at its economic growth and
development. An increase in a country’s Gross Domestic Product (GDP) indicates
economic growth, whereas, economic development is indicated by increase in a
citizen’s ‘quality of life’. Often, the quality of life is measured using the
Human Development Index that takes into account different factors such as
literacy rate, life expectancy, and progress in socio-economic structure of a
country. [1]
GDP does not measure indicators of
well-being, fair and equal distribution, unpaid labour and social sector
indicators which assess the provision of effective employment, health and
education. For example, India’s GDP growth has been on the higher scale the
last few years, but has moved down to the 134th position in the
Human Development Index in 2009 as compared to 128 in 2008. India has not made
much progress to tackle issues of poverty and inequality, and thus, is behind
on fulfilling the United Nations Millennium Development Goals.[2]
To discuss some such fundamental
questions of the direction of the Indian development and growth path, the
GPPI-CPR and FES organized an interactive discussion on 11 December, 2014 as
part of the ongoing collaborative series of roundtables between GPPI & CPR.
The discussion was led by Dr. Pratap
Bhanu Mehta, President CPR, Mr. Bibek Debroy, Economist & Professor,
CPR, and Prof. Mahendra P Lama, Vice Chancellor, Sikkim University. 13 Member of Parliament from across
party lines attended the discussion.
[1] What
Is Economic Growth and Development? - Definition, Theories & Indicators,
Education Portal, accessed November 26, 2014, http://education-portal.com/academy/lesson/what-is-economic-growth-and-development-definition-theories-indicators.html
[2] Prahlad Shekhawat, Economic Growth Versus
Human Development, http://www.countercurrents.org/,
July 02, 2011
