India Research Paper Reflective Personal Development Essay
If you think this is complex, try this: GDP at market prices excludes subsidies, which means it is net government revenue that you are concerned with.The more rapidly this revenue grows, the faster GDP will grow.Mr Subramanian, Mr Sen told The Hindu, was not comparing like with like.In truth Here’s a hard fact: Indian GDP data barely covers half the transactions or level of economic activity in the country.The second is growth in productivity, and the third is improvement in product quality.What Arvind has done is that the indicators he has used are all volume indicators, and having done that, he has said they were very strongly correlated prior to 2011 but not after that period.”He went to pick many more technical holes in Mr Subramanian’s paper.The other half, or perhaps 60 per cent, is in the so-called informal sector about which whatever is known is mostly wild guesswork.
It was this realisation that led to the changes made since 2011 -- of relying on differently collected data with less scope for the errors of the past.Thus, if you spent Rs 100 on inputs and sold the output at Rs 120, value addition is Rs 20.If the next year you spent only Rs 95 and sold at the same price, the growth rate will go up.The fuss This is mainly because except for perhaps a dozen economists and statisticians – same as the vidvaans of the Gupta period – everyone else knows this is a sterile debate.It is exactly the Jewish theological question about whether electricity is fire and if it is, whether an elevator can be used on the sabbath. Mr Subramanian says GDP grew at best at the rate of 4-5 per cent between 2011-2017.Once, in the early 1970s, I asked a very learned uncle why India had fallen off the knowledge map after the Gupta Empire declined.He thought for so long that I was about to repeat my question when he replied.“Because,” he said, “Indian intellect busied itself with the arcane, which as it became even more arcane became even more irrelevant.But it is the claim, and not the exhortation, that has caught the world’s attention. Not surprisingly India’s economists are honking like startled geese.It is like when the American singer Madonna when she posed in the nude. At the eye of the storm is not the issue but Mr Subramanian.Indian GDP data barely covers half the transactions or level of economic activity in the country.The other half, or perhaps 60 per cent, is in the so-called informal sector, about which whatever is known is mostly wild guesswork.