The farce in the name of GDP figures

It is known that the GDP figures hyped by the media to credit or discredit political formations in India do not "account" the environmental damage caused by the so-called "Development."

There were seminal papers published that questioned the entire economics paradigm that still stood united behind the GDP as the yardstick for growth. But, Indian economists and foreign-educated ultra-liberal growth pundits have no time to read about Genuine Progress Indicator (GPI) that accounts or discounts the environmental damage caused by mindless growth. (Renaissance took place in Europe, right?).

Advocates of GPI do not claim that it is perfect. But while our journalists pillory governments over GDP figures, let us be aware that there are other perspectives to look at how growth is contributing to human and environmental welfare.

Check this link: http://rprogress.org/sustainability_indicators/genuine_progress_indicator.htm