GDP: Not a Significant Indicator for Inclusive Growth
The article highlights how the Indian economy has restructured itself from the 1950s from a poor economy to the current emerging world's fifth-largest economy supported by GDP growth as the focus has been on multidimensional and inclusive growth. It has been reported by NITI Aayog’s multi-dimensional poverty report that there has been a steep decline in poverty over a period of time but rural and urban disparity still exists. So, to overcome the challenges of inequality several multisectoral approaches are being undertaken along with an emphasis on Sustainable Development Goals (SDG) 1 of reducing poverty and SDG 10 of reducing income inequalities. Steps are being taken by the government for poverty alleviation, inclusive healthcare, sustainable development, financial inclusion, intragenerational equity, and inclusive education for the equitable growth of all sections of the economy. Moreover, to attain balanced growth in terms of both economic and non-economic aspects, various remedial measures have been discussed to achieve multi-faceted and compounded growth.