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Does GDP 'Growth' Matter in the Life of a Common Man?

GDP figures come every year, but what is the benefit and loss caused by GDP in the life of the common man?

 

GDP figures come every year, but what is the benefit and loss caused by GDP in the life of the common man? These figures talk about the recovery of the economy but not about the life of the common man. The goods which were available for Rs 750 in the year 1981 are available for about Rs 15,000 in the year 2019. Only 10% of the workers in the country have a monthly income of Rs 25 thousand or more. From 1991 to 2019 businesses have kept more than half of the total profits, with only 19% of their share given to the workers. This means that GDP figures may create an illusion of economic growth, but the money for economic growth is going to the pockets of the rich and the condition of common people is getting worse. We speak with our colleague Aunindyo Chakravarty on this matter.

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