Many economists and politicians use GDP to measure the country's progress. This is incorrect. GDP rises when there is a flood, terrorist attack, etc. GDP just measures the amount being spent, not why it is being spent. So quoting GDP to measure progress is like quoting height of a person to measure intelligence!
A better way to measure country's progress is by SPI (Social Progress Indicator). Reference Video.
When we measure 132 countries by SPI, the best countries in the world today to live are New Zealand, Switzerland, Iceland, Netherlands and Norway; the worst countries to live in the world today are Chad, Central African Republic, Burundi, Guinea and Sudan. Among these 132 countries, India ranks 103. So most countries are better off than India. Even among the BRICS, Brazil ranks 46, Russia 81, China 91 and South Africa 70; India is at the bottom
How can India improve its SPI? Basically India needs to put more money in the hands of people. This is possible only government consumes less. So India needs to
BJP (Modi) has created a lot of news and caused stock markets to rise, but let us look at the facts. Modi/BJP has raised exise duty on fuel, reduced subsidies (by freeing Diesel) and simplified laws to some extent. Modi has not not yet privatized any big governemnt company. So Modi/BJP have done little to improve India till now.
A better way to measure country's progress is by SPI (Social Progress Indicator). Reference Video.
When we measure 132 countries by SPI, the best countries in the world today to live are New Zealand, Switzerland, Iceland, Netherlands and Norway; the worst countries to live in the world today are Chad, Central African Republic, Burundi, Guinea and Sudan. Among these 132 countries, India ranks 103. So most countries are better off than India. Even among the BRICS, Brazil ranks 46, Russia 81, China 91 and South Africa 70; India is at the bottom
How can India improve its SPI? Basically India needs to put more money in the hands of people. This is possible only government consumes less. So India needs to
- Reduce taxes
- Reduce subsidies
- Reduce controls and bureucracy
- Massively privatize the governemnt sector.
BJP (Modi) has created a lot of news and caused stock markets to rise, but let us look at the facts. Modi/BJP has raised exise duty on fuel, reduced subsidies (by freeing Diesel) and simplified laws to some extent. Modi has not not yet privatized any big governemnt company. So Modi/BJP have done little to improve India till now.
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